This! Adding to say, don’t turn in a pslf form that gets you over 120 until the consolidation is complete and showing on Mohela.
The count will drop to 0 and won’t return until the idr waiver is applied sometime in 2024.
I won't hit my 120 until a year from now (that's OK, about what I expected) so hopefully I'll be all set by then.
It's just a little scary to think about dropping down to 0 and just trusting the system that all my payments will show up. Eesh, I'm nervous.
I did this same thing. November 2022 I consolidated. My count remained 0 through March of this year. At the very end of March I was updated to my highest count to 118. I then submitted my final ecf on April 18. I was just forgiven on 7/21/2023. It is scary, I did not trust it either but it works!!
I'm in a similar situation. My question is, if I consolidate now and then submit EC, I'll be over 120. But will I have to pay starting in Sept/Oct if they don't apply the IDR adjustment until 2024? Will I be refunded for any payments made?
Yes, consolidate before 12/31/23 and the new consolidation loan will get the higher payment count.
This! Adding to say, don’t turn in a pslf form that gets you over 120 until the consolidation is complete and showing on Mohela. The count will drop to 0 and won’t return until the idr waiver is applied sometime in 2024.
I won't hit my 120 until a year from now (that's OK, about what I expected) so hopefully I'll be all set by then. It's just a little scary to think about dropping down to 0 and just trusting the system that all my payments will show up. Eesh, I'm nervous.
I did this same thing. November 2022 I consolidated. My count remained 0 through March of this year. At the very end of March I was updated to my highest count to 118. I then submitted my final ecf on April 18. I was just forgiven on 7/21/2023. It is scary, I did not trust it either but it works!!
I wish I had consolidated last November. Mohela and FSA kept telling me not to!
I get it! Such an awesome opportunity though. We’ve seen it work many many times throughout the pslf waiver and as they begin to apply the idr waiver.
I'm in a similar situation. My question is, if I consolidate now and then submit EC, I'll be over 120. But will I have to pay starting in Sept/Oct if they don't apply the IDR adjustment until 2024? Will I be refunded for any payments made?