If you’re like a lot of people, you were taken advantage of on your first day of college. You were young. So many wanted your interest and attention. You couldn’t back out. They wanted long-term relationships. You took more than you could handle, and it hurt. They said that after college, the pain would gradually go away. Now you can’t seem to get rid of it. Here you are years later, still paying off those student loans.

Or maybe you had better luck. If that’s the case, pass this info on to those still grieving.

Here are two things to know about student loan forgiveness during the pandemic:

1. Congress suspended payments and interest accrual on federally-held student loans through September 30, 2020.

2. If you hope to receive student loan forgiveness under the Public Service Loan Forgiveness (PSLF) program or through Income-Driven Repayment (IDR):

  • Student loan suspension counts towards the required payments to receive loan forgiveness. As long as the borrower would have otherwise qualified for forgiveness, these months of non-payment will count. Those seeking PSLF must be employed in qualifying work. Remember to recertify your employment every year.
  • Those enrolled in IDR before will still be counted as making payments during this time. Annually recertify income.

Check out more information on repayment and loan forgiveness options here.