Federal Student Aid responded in a tweet that payments that student loan borrowers would have made, but are no longer required to make under the extended suspension of payments stemming from President Donald Trump's executive order will count toward the borrower's Public Service Loan Forgiveness (PSLF) progress if other eligibility requirements are satisfied.
After Trump issued the executive order earlier this month, many questions surfaced regarding the mechanics of extending the suspension of payments and interest accrual pause, such as whether borrower would have to opt in to the forbearance. NASFAA has made clear to administration officials the importance of ensuring that non-payments count toward PSLF and that the repayment suspension remains automatic.
Stay tuned for updates, including official announcements and guidance, related to student loan relief extended through Trump's executive order.
Publication Date: 8/21/2020