Navient, NelNet and Great Lakes are servicers of federal figuratively speaking. This means that the re payments to those servicers may count toward your re re payment responsibilities for PSLF or for forgiveness through income-driven payment.
Nonetheless, you’ll want to be sure that the loans you have got with one of these providers would be the precise loans that qualify beneath the certain forgiveness system, and that you otherwise be eligible for forgiveness. For instance, for PSLF, just Direct Loans qualify.
When your current loans don’t qualify, you can easily combine them in to a loan that is direct purchase to qualify for PSLF along with other loan forgiveness programs under which Direct Loans qualify. But just payments made after consolidation shall count toward your payment responsibilities for forgiveness.
The very good news is that, as loan servicers, Navient, NelNet, and Great Lakes can help you access it your path toward loan forgiveness. Make sure to phone your servicer to get out which kind of loan you have got before relying on loan forgiveness.
May I have figuratively speaking forgiven if they’re in default?
No, you should be present on your own loans to be eligible for PSLF. Remember that you need to make 120 qualifying, on-time re payments before your loan stability is forgiven. If you’d like assist getting the loans in good standing, phone your loan servicer and get for assistance. Make sure to let them know you intend to use for PSLF so on the right path that they put you. (more…)