The Student Loan Debt Forum | The College Investor

Student Loans => Student Loan Forgiveness => Topic started by: predgw on October 19, 2017, 02:06:07 pm

Title: Graduated Repayment plan
Post by: predgw on October 19, 2017, 02:06:07 pm
Talked to a PLSF employee today.  Told me my employment certificate would be approved, but that with a graduated payment plan, none of my payments would qualify.  Only 10 year repayment plan or Income based would count.  I find this hard to believe.  First, the 10 year repayment plan makes zero sense as you need 120 payments to qualify.  With the graduated plan, I'm certain that I paid a higher monthly payment than some of the income based plans.

Has anyone gone through the PLF process with a graduated plan?   I currently have MOHLEA for a provider, but some years ago when my loan was under another Fed Loan servicing company, I could view how many payments qualified.  I believe this was 2010 when I checked and at the time, about 40 payments or so qualified.  I have been paying on time with no interruptions since 2002.   I suspect I'm darn close to having 120 qualifying payments.  I just hope the payment history is thoroughly reviewed.

Thanks in advance for any help.
Title: Re: Graduated Repayment plan
Post by: TheCollegeInvestor on October 19, 2017, 02:21:21 pm
Hi there,

Income-driven repayment plans are the only ones that will work. It's spelled out clearly on the PSLF page of the Department of Education:
Title: Re: Graduated Repayment plan
Post by: predgw on October 19, 2017, 02:44:34 pm
I sure hope they take the time to analyze the payments.   If through the course of 120 payments I paid more total than an income based plan, why would I be penalized??   The amount forgiven is less not more.  I understand needing to make a minimum payback each month, but if you exceed that amount, you should not be penalized.