PSLF – an update (but not a good one)

I’ve been checking out the public service loan forgiveness page, to see if there would be an update in how many people have been approved for their applications. Finally, there has been an update – the information from December has been posted.

It’s still not good. Before, less than 1% of borrowers were approved (0.8%). Now, it’s up to 0.9%. That is still very terrible.

My understanding is that this number will go up considerably as applicants meet the requirements – and since it’s still only been 10.5 years since it started, and the requirements are confusing, I have faith that this number is going to start rising dramatically. This may be foolish. But that’s why they call it faith?

I’m going to send in my recertification forms on Thursday. As it stands right now, I have 62 qualifying payments, but I need 120. I last certified over a year ago, so I’m due. According to my loan details, if I continue certifying and working where I currently work, my loans will be discharged in March of 2023. March of 2023! That’s the blink of an eye! God I hope this works.

Here is a screen shot of the information so far, up to December of 2018:

So. I was really hoping that when the December information got posted, it would be up to like 5%…but, alas, it remains abysmal. Here’s to hoping that when the March information gets posted (it appears to be posted about four months after the “as of” date), the numbers will be better. I’m going to keep checking in periodically.

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