How do I check the status of my student loan forgiveness? (2024)

How do I check the status of my student loan forgiveness?

Log in to StudentAid.gov to track your PSLF

progress. For updates on your application status, visit MOHELA's website or contact them at 1-855-265-4038.

How do I find out if my student loan forgiveness was approved?

Navigate to the loan information section, find your desired forgiveness program, and check for updates on eligibility and application statusborrowers for forgiveness. The Department of Education is notifying over 804,000 borrowers that $39 billion in federal student loan debt will be forgiven in the coming weeks.

How do I check my PSLF progress?

Your qualifying payment count is updated whenever you submit a PSLF form that documents a new period of qualifying employment. You can see how many qualifying payments you've made by logging in to your MOHELA account and viewing your loan details or by looking at your most recent billing statement.

How do I check the status of my student loan?

How long will it take to hear about student loan forgiveness?

The Federal Student Aid website says, however, that relief can be expected within four to six weeks of completing the application; the website also advises to apply before Nov. 15, 2022, in order to see your loans forgiven by the end of this year. Some qualified borrowers, however, may see their forgiveness sooner.

Do you get a confirmation after applying for student loan forgiveness?

You should receive a letter confirming that your loans are forgiven once your application is processed and approved.

Why does my MOHELA balance says zero?

If all of your federal student loans serviced by MOHELA have been forgiven under the TEPSLF opportunity, you will no longer have a remaining balance with MOHELA.

Will MOHELA student loans be forgiven?

To clarify, MOHELA doesn't have any exclusive student loan forgiveness programs. But MOHELA borrowers may be eligible for federal loan forgiveness programs through the PSLF program or income-driven repayment plans. Here's what you need to know about your MOHELA loan forgiveness options.

How long does it take for MOHELA to process PSLF?

To check your PSLF form processing status, please input the required information below. * Please keep in mind that it may take at least 60 business days for MOHELA to process these forms.

How do I know if I am getting a PSLF refund?

If you qualify, you should receive PSLF automatically and get a notification from your student loan servicer. After that, if an overpayment is identified, you can expect a refund within a couple of weeks or up to two months.

Why are my student loans showing paid in full?

You may notice your former servicer has cleared your loan account. For example, your loan balance may come up as “paid in full” on your former servicer's website or on your credit report. This does not mean you've received loan forgiveness. This is part of the loan transfer process.

Do student loans affect credit score?

Having a student loan will affect your credit score. Your student loan amount and payment history are a part of your credit report. Your credit reports—which impact your credit score—will contain information about your student loans, including: Amount that you owe on your loans.

How long does it take for your student loan to be approved?

After you complete your FAFSA, enroll in college, accept your student aid offer, and sign the master promissory note, you still won't receive your funds right away. For federal loans, the entire process can take 1-3 weeks for first-time borrowers.

When should I receive my student loan forgiveness?

Income-Driven Repayment (IDR) Forgiveness

If you repay your loans under an IDR plan, any remaining balance on your student loans will be forgiven after you make a certain number of payments over 20 or 25 years—or as few as 10 years under our newest IDR plan, the Saving on a Valuable Education (SAVE) Plan.

How will I receive my student loan forgiveness?

Public Service Loan Forgiveness (PSLF)

The PSLF Program forgives the remaining balance on your Direct Loan after you've made the equivalent of 120 qualifying monthly payments while working full time for a qualifying employer.

What happens after you apply for student loan forgiveness?

If your PSLF form is approved for forgiveness, then you'll be notified that the entire remaining balance of your eligible Direct Loans will be forgiven, including all outstanding interest and principal.

Why wasn t my student loan forgiven?

Borrowers Could Be Short Of Student Loan Forgiveness Threshold. Since not all past loan periods count toward student loan forgiveness under the IDR Account Adjustment, even borrowers whose loans originated more than 20 or 25 years ago may not quite have reached the milestone for discharge.

How do I know if MOHELA forgive my loans?

To process forgiveness, a final review of your account will be conducted, which will take at least 90 business days. PSLF Eligible and Qualifying Payments (Payment Counters): Once your PSLF form has been processed, you will be notified of changes to your payment counts from additional periods of certified employment.

What does a zero balance letter mean?

The letter behaves as a formal receipt, stating to the borrower that they have a zero balance on their loans. Deed owners value this letter, as it may behave as a formal document for the owner to present to potential buyers of the property that want to know there are no liens on the property.

How long does it take for PSLF to be approved?

The PSLF application process can take a few months. It may take longer if you haven't been submitting regular PSLF Forms, or shorter. During the wait, you have the option of continuing to make payments or putting your loans into forbearance.

Is MOHELA considered a federal student loan?

Also called the Higher Education Loan Authority of the State of Missouri, it's a nonprofit servicer that manages both federal and private student loans. As of November 2022, MOHELA is the sole servicer for borrowers enrolling in Public Service Loan Forgiveness (PSLF) and the TEACH Grant Program.

Is MOHELA federal student debt?

Your federal student loan is being serviced by MOHELA on behalf of Federal Student Aid (FSA). With over 40 years in the student loan servicing industry, we have the expertise to help manage your loans – answer any account questions, help you explore your benefits and repayment options and process your payments.

What does smiley face on MOHELA mean?

Many borrowers reported their student loans have been forgiven or are closer to being forgiven and are breathing a sigh of relief. Seriously, I've never seen so many smiley-face emojis and screenshots showing a $0 loan balance.

Why is it taking so long for my PSLF to be approved?

According to StudentAid.gov, PSLF processing times depend on: Whether you previously submitted employment documentation for review versus submitting documentation all at once when you apply for loan forgiveness. The number of qualifying employers you've had. If you have gaps in your employment or payment history.

How long is the wait for MOHELA?

MOHELA and the Education Department told borrowers it would take at least 90 business days to process forms as they are received.