@debtfreegonnabe: ⁣⁣ 🚨 𝐁𝐑𝐄𝐀𝐊𝐈𝐍𝐆 𝐍𝐄𝗪𝐒 🚨⁣⁣ ⁣⁣ The December 31st deadline to consolidate commercially-held FFEL, Perkins, and HEAL loans for the IDR account adjustment (IDR waiver) has been 𝐞𝐱𝐭𝐞𝐧𝐝𝐞𝐝 𝐭𝐨 𝐀𝐩𝐫𝐢𝐥 𝟑𝟎, 𝟐𝟎𝟐𝟒.⁣⁣ ⁣⁣ As a reminder, the IDR account adjustment is a a one-time account adjustment to credit⁣⁣⁣ borrowers with time towards the 20-year or 25-year student loan forgiveness under income-driven repayment (IDR) plans, even if they were paid under a different repayment plan.⁣⁣⁣ ⁣⁣ Credit will be given for any months in repayment, 12 or more months in forbearance or deferment, and any time in repayment on earlier loans before they were consolidated.⁣⁣ ⁣⁣ Forgiveness happens after reaching 240 payments (20 years) or 300 payments (25 years) whether you actually made those payments or you received credit via IDR waiver. ⁣⁣ ⁣⁣ The COVID-19 payment pause will count as time in repayment.⁣⁣ ⁣⁣ In-school deferment and typical grace periods DO NOT count.⁣⁣ ⁣⁣ IDR payment credit can be used toward your PSLF payment counts however, only starting Oct 1, 2007 because that’s when the PSLF program was established.⁣⁣ ⁣⁣ Follow @𝐝𝐞𝐛𝐭𝐟𝐫𝐞𝐞𝐠𝐨𝐧𝐧𝐚𝐛𝐞 to stay up-to-date on student loan news and for help tackling your debt! #moneytok #personalfinance #debtfreecommunity #financetiktok #debtfreegonnabe #studentloandebt #studentloanhelp #cancelstudentdebt #studentloanforgiveness ##navientstudentloans

Nika

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Region: US

Monday 18 December 2023 20:49:12 GMT