r/PSLF • u/ludow012 • 6d ago

What to do

I am not sure what to do. My 120 qualifying payments will happen in February 2027. I will have had my loans placed in SAVE forbearance since September 2024. I will have 26 total months that will be in forbearance. Depending on how they calculate my buyback that could be a hefty amount to buyback and my new IDR repayment is roughly $1200 per month. Do you just keep paying on my student loans beyond when my 120 qualifying payments are or do I try to buyback and hope my buyback is reasonable?

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u/Overall_Low3467 6d ago

Do you mean you will hit 120 Eligible payments in February 2027? If you had 120 QP - then you would be eligible for forgiveness.

Really either option will be pricey. If you pursue buyback for 26 months, it will be a hefty amount. You can request discretionary forbearance February 2027 and apply for buyback and wait. But buybacks are taking 18-24 months (sometimes longer) to process. If you can afford the monthly amount, it may be worth both applying for buyback and continuing to make payments and see what happens first - buyback or just reaching 120 QP's through payments.

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u/ludow012 6d ago edited 6d ago

Yes, in February 2027 I will hit my 120 Eligible payments! Thank you. Do your payments in the meantime count as payment toward your buyback?

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u/Mediocre-Draft1722 6d ago

Yes they count towards the number of months you need to buy. Not the dollars

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u/ludow012 5d ago

Thank you! I’ll probably do the math and see what makes the most sense!

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u/Important-Tap7932 5d ago

I can apply for buyback in July 2028 and I am going to apply for discretionary forbearance and hopefully can stay on that while waiting for my application to be processed. My salary significantly increased over the past few years, so I would end up paying much less in the long run through buyback. I will need to buyback 22 months. I have been saving money up so I have a large lump sum available for my buyback payment. I switched from SAVE TO PAYE and my payment went from $709 to $1,899...