Student Loan Resources
On January 15th, 2025, the Department of Education released new guidance on the SAVE plan and other IDR plans. Most of this was discussed on a webinar with Oregon Student Loan Ombuds Lane Thompson and Mike Pierce, Executive Director and co-founder of the Student Borrower Protection Center, hosted by Congresswoman Suzanne Bonamici. You can find a recording of the webinar on the Congresswoman’s YouTube channel. Thompson and Pierce’s presentation slides are linked here and here.
Here are the key updates (NOTE: this guidance may be subject to further change under the Trump administration):
- Extended Forbearance Timeline:
- Borrowers in SAVE and other affected plans will remain in interest-free general forbearance until servicers can implement accurate billing systems, expected no earlier than September 2025.
- First payments for borrowers in these plans will not be due until December 2025.
- Borrowers do not need to make payments, and interest will not accrue during this period. However, this time does not count toward Public Service Loan Forgiveness (PSLF) or IDR forgiveness.
- Recertification Timeline Adjustments:
- IDR plan anniversary recertification deadlines for SAVE borrowers are now set no earlier than February 1, 2026, with rolling deadlines thereafter.
- Borrowers are encouraged to provide consent for auto-recertification to maintain enrollment.
- Forgiveness Provisions for IDR Plans:
- Forgiveness as a feature of any IDR plan created by the Department – specifically, the SAVE (formerly REPAYE), PAYE, and ICR repayment plans — remains enjoined due to court rulings.
- Borrowers can still receive forgiveness under the Income-Based Repayment (IBR) plan.
- Payments made under SAVE, PAYE, and ICR will count toward IBR forgiveness if borrowers switch to IBR.
- Resumption of Application Processing:
- Servicers have resumed processing certain IDR applications, including recalculations and recertifications for IBR, PAYE, and ICR.
- Applications for SAVE remain paused due to ongoing litigation.
- PSLF Buy Back Program Expansion:
- Borrowers will eventually be able to “buy back” months of PSLF credit for time spent in forbearance, even if they have not yet reached 120 months of qualifying employment.
- Previously, this option was only available to borrowers with 120 months of qualifying employment.
- Clarifications on Consolidation Loans:
- Borrowers with consolidation loans can only buy back months on their current consolidation loan.
- Months from loans included in the consolidation or for periods prior to the first disbursement date of the consolidation loan cannot be bought back.
Helpful resources and information:
- The Oregon Student Loan Ombuds website: If you’re having issues with your student loan servicer, suspect you’re being targeted by a student loan scam, or have general questions about your student loans and relief programs, please reach out to the Oregon Student Loan Ombuds office.
- Oregon Division of Financial Regulation:The Division of Financial Regulation oversees a range of financial products. They also receive complaints about financial products. To file a complaint you can complete this form.
- Nmlsconsumeraccess.org: If you need help identifying a legitimate financial institution to prevent engaging with scammers, visit this website.
- Studentaid.gov: The Department of Education’s portal for managing federal student loans can be found here. Once you sign in you will be able to determine the type of loans, loan amounts, apply for repayment plans, loan consolidation, loan forgiveness, and much more.
- Closed School Discharge: Applications for Closed School Discharges can be found here. If you were attending when the school closed, it is likely that you are eligible for a closed school discharge. The school needs to have closed close to the time that you attended.
- Borrower Defense Loan Discharge: Applications for Borrower Defense loan discharge can be found here. This is the discharge for people who went to a school that was predatory or that otherwise defrauded or took advantage of them as students. If you were not included in a group automatic discharge you can still use the findings that were applied for that group discharge in order to complete your own individual borrower defense to repayment application.
- Total & Permanent Disability Discharge: Applications for total and permanent disability discharge can be found here. This is a discharge available to people who are not able to work because of a disability.
- Oregon Promise Grant: The Oregon Promise is a state grant that helps cover tuition costs at any Oregon community college for recent high school graduates and GED® test graduates. Students must apply during their senior year or immediately after GED® test completion.
- Repayment_support@ed.gov: If you were misled by your servicer asking for help qualifying for PSLF, and were told to stay in forbearance, submit a complaint to this email inbox.
- Cancelmystudentdebt.org: Visit this website for personalized recommendations on how to lower your monthly payments.
- Consumer Financial Protection Bureau: A U.S. government agency dedicated to making sure you are treated fairly by banks, lenders and other financial institutions.
- DevNW, a nonprofit based in Oregon that provides one-on-one student debt counseling for federal and private student loans.
For reliable updates and support for student loans, we suggest following these accounts.
OregonDFR Social Media
- Facebook: @Oregon Department of Consumer and Business Services
- LinkedIn: @Oregon Department of Consumer and Business Services
- X: @OregonDCBS
- Instagram: @oregon_dcbs
- Youtube: @Oregon Division of Financial Regulation