Student Borrowers Now Have Until June 30, 2024 to Apply for Loan Consolidation to Get Credit for Progress Toward Loan Forgiveness Programs

The Biden-Harris Administration announced on May 15, 2024, an update on the timing of the payment count adjustment. This administrative fix ensures borrowers get proper credit for progress borrowers made toward income-driven repayment (IDR) forgiveness and Public Service Loan Forgiveness (PSLF). The payment count adjustment is now anticipated to be fully implemented in September 2024. At that time, borrowers with Direct Loans or Federal Family Education Loan (FFEL) Program loans held by the U.S. Department of Education (Department) will see a full and accurate count of their progress toward loan forgiveness. Because of this updated timeline, borrowers with non-federally held FFEL loans who apply to consolidate by June 30 can still benefit from the payment count adjustment. The prior consolidation deadline was April 30.

NSLS’s Education Debt Consumer Assistance Program (EDCAP) provides legal assistance to people who are experiencing student debt problems, including unpaid tuition bills, collection actions, and managing federal and private student loans. Assistance is available to student borrowers, parents, and other family members regardless of income. Services may include student loan counseling, litigation defense and representation, and phone advice. Suffolk and Nassau residents please call: 516-292-8100.