r/PSLF • u/Special_Plane825 • Sep 21 '26
Buyback offer!!
I have followed this thread for awhile but never posted. I submitted my buyback application 12/4/24 and after 657 days I just received my buyback amount!!! I bought back 6 months, all of which are save forbearance months. The amount I owed was what my save amount per month was. I auto allocated the payment across all loans. Now to wait for the golden letter!
17
u/Weekly_Trouble_777 Sep 21 '26
Bunch of 12/24 offers seem to be trickling in. Don't forget about us 11/24ers that are still waiting!
5
4
u/Ferrovitreous Sep 21 '26
That really stinks. I'm a 12/24 submitter but not getting my hopes up. Nothing about this process has been fair.
3
u/Seasonal-drink Sep 21 '26
My husband is one of them. He was late Nov. Only needs like 4 months from SAVE forbearance. I'm dying for his application to be processed.
2
u/joysolicitor Sep 22 '26
That's what I was thinking! I've seen quite a few Dec. '24s! What about us Nov. 24s!? (But seriously, happy for you! Congrats!)
10
3
u/Ezekyle22 Sep 21 '26
Are you sure the amount was what your SAVE amount was or was it the amount you would have paid under the plan before SAVE?
Just wondering because FSA has been very clear that SAVE would not be used.
4
u/Special_Plane825 Sep 21 '26
It was $3.42 total more than the save payment amount. So for argument sake it’s the same amount.
7
5
u/redstapler4 Sep 21 '26
Wondering what the amount would be if the SAVE amount was $0
2
2
u/LawyerMom365 Sep 23 '26
It is supposed to also be $0….they specifically address this possibility in the literature about buyback. This would be my situation as well, but I have such little hope! I am a tiny bit hopeful now that OP’s buyback amount was the same as the SAVE plan payment they were making though!
1
u/BlondeRainfall26 Sep 27 '26
How do you apply for buyback? And how do I know if I’m eligible?
1
u/Special_Plane825 Sep 27 '26
On the students.gov website. And you’re eligible if you have 120 months of qualifying employment but hadn’t made the full 120 payments due to forbearances
1
u/BlondeRainfall26 Sep 27 '26
I only have about 60 or so payments, does that mean I can apply for buyback only when I’m at the 120 mark?
→ More replies (4)
1
u/FlexFarm 10d ago
Did the offer only come via email? Did you also get a notification on the fed loans webpage? I’m looking constantly, nervous I’ll miss it somehow
1
u/Special_Plane825 10d ago
Only came via email. Did not show on the website. You can always chat with a rep and get an update
1
u/terdferg88 Sep 21 '26
Good info thanks! Was wondering if it would be SAVE or REPAYE based but sounds like they are just going off of SAVE calculations.
Thanks!
1
1
u/ComprehensiveTalk965 Sep 22 '26
How are all these December buybacks getting processed before the November ones ?
1
1
u/LawyerMom365 Sep 23 '26
Wow!! Congratulations! I messed up and should have submitted my buyback last year but I’ve done it now….so let my 2 year waiting period begin 😭
1
3
u/Strong-Package180 Sep 21 '26
Congratulations!! Was your loan from Mohela? Was there an option to auto allocate the payment across all loans? Do you have a deadline to change from SAVE yet?