Can you clarify what it means to receive "forgiveness credit" but not be able to receive "forgiveness"? Forgiveness credit is what you earn as you make qualifying payments. Forgiveness is what you receive when you have made the required number of qualifying payments using a forgiveness-eligible repayment plan. Forgiveness as a feature (seeing your remaining balance canceled after making the required number of payments) for any of the Department of Education-created plans (ICR, PAYE, SAVE/REPAYE) is paused by the ongoing SAVE litigation. Forgiveness is still available for IBR. You can still receive “forgiveness credit” by making your minimum monthly payment each month for any income-driven plan other than SAVE. If you do reach the required number of qualifying to receive forgiveness under the Department of Education-created plans, you can request a forbearance while you await a forgiveness determination by the court. You can also try switching to IBR (if eligible) to have your forgiveness processed. This is a developing situation and we will be updating borrowers as we learn more. Key takeaway: payments made using ICR or PAYE will still provide student loan forgiveness credit. You can monitor your forgiveness credit using the “IDR End of Payment term” module on your https://hubs.li/Q0364KyV0 dashboard. You should see that countdown decrease with each month’s payment as you continue earning forgiveness credit. Read more Q&A from the recent Climbing Mt. Debt webinar: https://hubs.li/Q0364Wsv0 Review the webinar recording and more: https://hubs.li/Q0364Cbm0
