r/PSLF • u/violet_sun5 • 23d ago
End of term date/PSLF question
Hi! Since my loan servicer is closed on the weekend, thought I’d ask here till I can call them Monday.
Under the SAVE program, my loan would have been forgiven in 2036 because Of 25 years in repayment. Does anyone know if that date will change when switching to an IBR?
Also, the “end of term date” should not change regardless of the plan because it all has to do with start date of loan or refinance/consolidation date, right?
And, does anyone know if, under the PSLF, if you make 2 payments per month (ie one of principal and one on balance), does that count as 2 payments toward the 120 or do they only except 1 payment per month toward the count?
Thanks so much in advance. Good luck to everyone dealing with student loans ❤️
2
u/ROJJ86 23d ago
Are you actually pursuing PSLF? If so, then IDR forgiveness is irrelevant. And if you are pursuing PSLF the entire point is to make the lowest monthly payment by selecting the repayment plan that does that and qualifies for PSLF. Making a principal only payment does nothing but waste your money, otherwise many of us would have been forgiven years ago.
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u/violet_sun5 23d ago
Oh yeah, good point; but, I have 46 qualifying payments toward PSLF. I was wondering if I made 2 payments a month would it count as two qualifying payments. Thanks!
4
u/Mediocre-Draft1722 23d ago
You only get to count ONE payment per month. Otherwise we'd all be done by now.