IDR Waiver Offers Federal Student Loan Borrowers a Path to Faster Loan Forgiveness
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The IDR waiver can help federal student loan borrowers get credit for past payments toward forgiveness.
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Borrowers repaying loans on an IDR plan can get credit for months in various repayment statuses.
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Those with 20-25 years of eligible repayment time may get automatic forgiveness.
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FFEL borrowers must consolidate loans into Direct by 12/31/23 to qualify for the IDR waiver.
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Applying for a Direct Consolidation Loan takes about 30 minutes online.
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