Search results
Results from the WOW.Com Content Network
Borrowers in SAVE and anyone who has applied for SAVE should expect to remain in interest-free general forbearance for six more months or longer, pending further developments from the 8th Circuit Court of Appeals. While in forbearance, you do not have to make monthly payments on your student loans. Interest will not accrue during this forbearance.
The SAVE plan forbearance has already been in effect for more than two months, halting progress toward student loan forgiveness under IDR and PSLF for more than eight million borrowers.
After three and a half years of a pandemic-related payment pause, federal student loan bills resumed in October 2023, followed by the end of the White House on-ramp period in October...
The 8 million borrowers on the income-driven repayment plan SAVE won’t owe student loan payments until late April, at the earliest. They also won't earn PSLF or IDR forgiveness credit.
Congress voted to end the payment pause in June 2023. After more than three years without payments, many borrowers were at risk of delinquency or default. To ease borrowers’ transition back to repaying their loans, the Department created a 12-month “on-ramp” to prevent the worst consequences of missed, late, or partial payments, including defaults.
Borrowers are set to resume payments on their federal student loans Sept. 1 after more than three years of forbearance that began during the COVID-19 pandemic.
During the forbearance, no payments are due and no interest should accrue, but the time won’t count toward student loan forgiveness under IDR plans or Public Service Loan Forgiveness, a...
Federal student loan payments for about 8 million Americans will stay on hold for at least another six months, the U.S. Department of Education confirmed on Monday.
Borrowers can now apply for income-driven repayment (IDR) plans electronically rather than needing to upload an application to our website. Please visit StudentAid.gov/IDR to submit your application. If you already submitted an application through our portal you do not need to apply again. An official website of the United States government.
When does the forbearance period end? The pause on payments ends on Dec. 31, 2022. Borrowers will be expected to make monthly payments toward their debt balances from Jan. 1, 2023 and...