r/PSLFbuyback

I am a long time reader, first time poster, I've gotten so much value out of all of your posts. I followed these boards when I applied for SAVE because I was hesitant in doing so. My undergrad loans were taken out in 1994, graduate loans in 1998 and 2001. My trajectory was college, law school, a year of uncertainty and then back to grad school for an MBA/MSAcc.

I was paying $800ish prior to SAVE and then my payment of $524 after save seemed like a dream come true, but just 2 years and 9 months of payments left. I felt like I had been given a gift, a huge weight had been lifted off my shoulders and that the universe was finally supporting me for having paid so much interest and loan payments over all of these years. And then this administration changed it all...

I just did my IDR, I have Nelnet, and my payment is set to be $1700 starting at the end of October. That's more than 3x what it was on SAVE and it's crazy. I just submitted proof of my income and that is much less than last years tax return. I have a base salary and then potential bonus, and RSUs which if I sell, show up as income on my W2. Last year my company stock was doing great, I sold some. This year my company stock is doing horrible, down from high at $700s to $270s, I am not selling anything.

I don’t expect anyone to feel sorry for me. I’m grateful for my career, my salary, and the life I’m making for myself. But I’m still enraged. I had a payment I could manage and an end in sight. Now I’m trying to figure out where an extra $1,176 a month comes from after living the good life of no loan payments for a while (that doesn't help).

And I’m angry that so many other people are going through this too, many with much less room in their budgets than I have.

How is this supposed to help the economy? That money has to come from somewhere. For me, it means cutting travel, putting off buying a car, and cutting out many of the extras for my family and myself. Those are purchases at businesses that depend on people having money left after paying their bills. I’m sure plenty of you are making the same decisions.

Does this administration see what’s happening here? You can’t take hundreds or thousands more out of people’s monthly budgets and expect it to have no effect beyond their student loans.

I really thought I was almost done. Now I’m angry, exhausted, and having to rethink the next few years... If you read this far, thanks for taking in my venting. What's your story, are you in the same boat? Will Nelnet reconsider my income with the proof of my most current pay statement?

Hello all,

I have a question. I want to know if anyone else has received an email like this and how long does this process take.

Here is some background info: I applied for buyback in December 2 2024. I received an email from federal student aid on 7.22.2026. Here is what the email says

"Thank you for submitting a Public Service Loan Forgiveness (PSLF) and Temporary Expanded PSLF (TEPSLF) Reconsideration request.  We have completed your PSLF buyback assessment.

Some or all your loans are eligible for PSLF buyback at this time.  To ensure you are paying the lowest amount for your PSLF buyback, submit the following income and family size information within 30 days.

2012, 2013 and 2014.

Take Action:  Submit the income and family size information by opening a new reconsideration request.   

1. Gather the federal income tax return you filed for the year requested.

Important:  If you were not required to file a federal income tax return for the year requested, upload a statement detailing your taxable income for the year. 
You must provide information of all taxable income you and your spouse (if applicable) received for the year requested.

• Taxable income includes, for example, income from employment, unemployment income, dividend income, interest income, tips, and alimony.
• Do not provide documentation of untaxed income such as Supplemental Security Income, child support, or federal or state public assistance

 

1. Determine your family size.

How to Determine Your Family Size for the Year Requested: Family size includes your spouse only if you filed your federal tax return as married filing jointly unless you have indicated that you are separated from your spouse.  Family size also includes other people only if they live with you now, receive more than half their support from you now, and will continue to receive this support for the year that you certify your family size. Support includes money, gifts, loans, housing, food, clothes, car, medical and dental care, and payment of college costs. Your family size may be different from the number of exemptions you claim for tax purposes.  

1. Open a new reconsideration request and include following statement:

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.  I am providing the requested income and family size information.  My family size is: [enter your family size here], and I have uploaded income document for the year(s) requested.

Important: Do not open a Buyback Request.  You must include the statement above. Without the statement above, your PSLF Reconsideration submission will not be considered related to your buyback, and your income and family size information will not be used for your PSLF buyback assessment.  

1.  Upload your federal income tax return from the year requested onto your reconsideration request.

2.  Submit your reconsideration request.

If you do not send us the tax and family size information that we request within 30 days, we will determine your PSLF buyback amount as what your payment amount would be on the 10-year Standard Plan. 

For information on PSLF buyback, visit Studentaid.gov/pslfbuyback.

This buyback request is closed. 

Important: A processing pause began on May 1, 2024, for the Public Service Loan Forgiveness (PSLF) Program as we update and streamline our systems for a better user experience. You can continue to submit your PSLF forms during this pause, and we will begin processing them when the update is complete.  Visit StudentAid.gov/publicservice for the most up-to-date information on PSLF and TEPSLF. 

Sincerely,

Federal Student Aid"

So they closed by buyback request, because they need to get tax information from me. But at the same time they need the tax information in order to process the buyback. Its contradictory.

I did obtain the tax information from the IRS and i did submit the documentation to federal student aid under a new reconsideration request per the emails instructions. on 7.31.26.

Has anyone else been asked to do this? How long does this take?