December 7, 2020
President Biden has directed the acting Secretary of Education to extend the pause on student federal loan payments and to keep interest at 0% through September 30th 2021. For borrowers in repayment, payments are not required during this period. Suspended payments will continue to count toward forgiveness programs. For updates please view the Department of Education’s Press Release and StudentAid.Gov
The Department of Education has now allowed lump sum or prepayments to qualify towards months of service under the PSLF program. Prepayments will count for up to 12 months or the next time borrowers are due to recertify their income-driven repayment (IDR) plan.
To see more details please view the news release from the PSLF UPDATE