As of 2024, borrowers pursuing Public Service Loan Forgiveness (PSLF) who have already been confirmed as having 120 months of qualifying employment can buy back months in forbearance or deferment which would result in forgiveness under PSLF or Temporary Expanded PSLF (TEPSLF).
Eligibility Requirements
To buy back these months in forbearance or deferment, you must
- still have an outstanding balance on your loan(s)
- have approved qualifying employment for the same months you’re buying back
- buying back these months will fulfill your total of 120 qualifying PSLF payments
How to buy back months for PSLF
- Confirm that you have 120 months of approved qualifying employment with the PSLF servicer.
- Wait for the one-time IDR Adjustment to be finalized by the fall of 2024 to make sure that you aren’t buying back months that will automatically count after the adjustment is finalized.
- Verify the months of deferment or forbearance that you want to buy back and that those months overlap with your approved qualifying employment. To do so, you must check your account with the PSLF servicer to confirm.
- Submit a request through PSLF Reconsideration. Include the following in your PSLF reconsideration request for buyback: “I have at least 120 months of approved qualifying employment, and I am seeking PSLF or TEPSLF discharge through PSLF buyback. Please assess my eligibility for PSLF buyback.” You must provide this statement for your request to be considered properly for the program.
- If you are eligible, FSA will send you an agreement with the amount you would need to pay and instructions on how to pay the full amount within 90 days of the agreement being sent to you.
- It will take some time for the request to be reviewed and processed. There won’t be a way to check on the status but you will receive an email once the request is processed.
- If the full payment isn’t received within 90 days, the request must be submitted again.