PSLF approval backlogs and servicer processing irregularities
Key Questions
What is the current backlog for PSLF buyback and approval processing?
There is a 643k overall backlog, including 89,720 pending buybacks with waits up to 27 months, plus issues reported at servicers Mohela and Nelnet. The Department of Education estimates 18k-19k duplicative buyback applications that it plans to preemptively remove.
How are duplicative PSLF buyback applications being addressed?
A new NASFAA filing indicates the Department of Education will remove an estimated 18k-19k duplicative buyback applications to help reduce the backlog. Borrowers have a 90-day window for buybacks, and TLF resubmissions have been succeeding.
What is the status of IDR processing and progress for K-12 teachers?
The IDR backlog stands at 530k applications, though the processing rate has increased. Many K-12 teachers are nearing the 120 payments required for PSLF forgiveness.
643k backlog (89,720 buybacks pending, 27-month waits); Mohela/Nelnet issues; buyback 90-day window; TLF resubmits succeed. New NASFAA filing: ED estimates 18k-19k duplicative buyback apps, will preemptively remove them; IDR backlog 530k, processing rate up. Many K-12 teachers nearing 120 payments.