Education Department revises PSLF counts, leaving some borrowers short of 120 payments

Some borrowers pursuing Public Service Loan Forgiveness are seeing their qualifying payment counts reduced as the U.S. Department of Education corrects coding errors in its loan-servicing system. The changes are not the result of a new PSLF policy, the Student Loan Servicing Alliance said. PSLF cancels federal student debt for eligible government and nonprofit workers after 120 qualifying monthly payments, or 10 years. One reported borrower saw a count fall from nearly 120 to 94, although some borrowers could see their counts rise after the corrections. The adjustments come as millions of borrowers move away from the Biden-era Saving on a Valuable Education plan and consider replacement options including the new Repayment Assistance Plan. Borrowers who believe qualifying payments were removed incorrectly can submit a PSLF reconsideration request and should retain payment and employment records.

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