I have 12 payments left on my PSLF. I am on SAVE, and so my account has been in forbearance since 2024. So I can’t make payments. Things got worse last year when about $22,000 of interest was erroneously added to my account. It took about eight months, working with my local congressional rep’s office, to fix that error.
Now I am not sure what to do regarding PSLF. I have heard about the PSLF buyback, but the program has tens of thousands of people and a severe backlog. Based upon the info that I am getting back via my congressional rep’s office, the Dept of Ed seems to be suggesting that I need to switch from SAVE to some other income-based repayment program. I am very skeptical that this is just going to result in ridiculous payments (in part because of the recent transfer of some debt to the Treasury Department). In the meantime, my balance has been accruing interest again since last August.
I think this interest accrual is ridiculous given how the Federal government is handling the whole situation. Why should anyone be charged interest when programs have been put on hold or dismantled? I’m just trying to find some way to finish those last 12 payments and finally get my PSLF. I don’t know if I should apply for the buyback, get on a new payment plan, or, honestly, look into bringing a lawsuit against ED. Any advice would be greatly appreciated.