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Updated Sept 4th, 2020  By Presidential Executive Order, the halt of accruing interest and payments loans has been extended out to 12/31/2020. The extension applies only to the same federally-held loans as the original CARES Act and will most likely be implemented without any action needed by borrowers. The Dept of Education recently confirmed that this extended administrative forbearance will also count towards IDR and PSLF...
The Dept of Education released its most updated report of PSLF activity and, from June 2019 to June 2020, tax-free loan forgiveness granted grew from $80 million to over $280 million, representing over 350% growth. While this data runs counter to what's being generally reported in the media about the PSLF program and its high declination rate, we expect exponential growth to be reported in the years to come, with granted forgiveness...
If you're not enrolled in an Income-Driven Repayment Plan and pursuing Public Service Loan Forgiveness just yet, this update may be a bit technical for you... but here goes anyway. You can always schedule a quick diagnostic with us HERE . Recently, there's been some "noise" out there related to student loan stimulus expectations, servicer changes and legislative proposals. To this end, we wanted to provide insight on a few things so...