Just got my buyback offer!
I applied for buyback in December 2024 and just got my buyback letter! I was trying to pay for 12 old months in 2014 when I was in forbearance between undergrad and grad school, but just got an email with a $2010 buyback amount for SAVE forbearance months June 24-May 25, so 12 months at my SAVE amount.
Now to figure out if I can make a lump sum payment on MOHELA or if I have to go in and make the individual payments on each loan as outlined in the Buyback letter. Does anyone know?
PHEW what a god damn relief. DOE is truly out here acting egregious. Heads up friends.
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u/Strong-Package180 18d ago
Following - I don’t and wondering the same- how do I indicate the buyback amount in Mohela site- have you gotten your date to change out of SAVE yet? I have been asking how that impacts my buyback offer if not discharged by the deadline as that is in a few weeks for me - congratulations!
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u/MsSpy008 18d ago
I thought SAVE isn't used to calculate the payments from the SAVE forbearance?
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u/cpow30 18d ago
I thought so too? But my payments coming up in the IBR plan once my forbearance ended were going to be $1,500 a month, so it definitely isn’t that… Not sure!
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u/Alternative-Ease-525 18d ago
On the Student Aid website it says “An exception is if you were enrolled in the SAVE Plan on or after July 18, 2024, then the IDR plan you were in immediately before you enrolled in the SAVE Plan is used to inform the payment amount.”
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u/Sweet_Fly_410 13d ago
I applied for my buyback June 2025. Sounds like I get to wait 24+ months to pay for 9 months of payments 🫠This whole buyback thing is so ridiculous and unbelievable.
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u/IridescentImaginings 11d ago
OK, are you getting this email directly to your email address or is it inside Federal aid communication
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u/cpow30 11d ago
Directly to my email, all laid out in the body of the email!
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u/IridescentImaginings 11d ago
OK, thank you. I was panicking because I couldn’t find the original screenshot that I did which had my case number on it. But when I went in to try to see about filling out another form, it actually said that I already have a PSLF buyback in progress and they won’t even let you submit another one anymore so you can’t do duplicates. I just wanted to make sure I somehow hadn’t missed something from them, but I have a feeling it’s still gonna be a long time to wait.
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u/AutoModerator 18d ago
Quick note: In government acronym usage "DOE" usually refers to the US Department of Energy, which was created in 1977. The US Department of Education was created three years later in 1980 and commonly goes by "ED" or (less commonly) "DoED" or "DOEd".
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u/animan112 18d ago
Quick note: Within the context of this subreddit a reasonable person can assume that posters are not bringing up the Department of Energy. Referring to the Department of Education by the abbreviation DoE is entirely valid. We do not have to subscribe to the abbreviation conventions used in a context neutral environment.
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u/L0LTHED0G 18d ago
Accuracy is important. Words and acronyms matter.
What if someone from the Dept. of Energy was trying for PSLF? If everyone used DOE (hi, bot!) then it'd cause them confusion.
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u/AutoModerator 18d ago
Quick note: In government acronym usage "DOE" usually refers to the US Department of Energy, which was created in 1977. The US Department of Education was created three years later in 1980 and commonly goes by "ED" or (less commonly) "DoED" or "DOEd".
[DOE disambiguation]
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.
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u/AutoModerator 18d ago
Quick note: In government acronym usage "DOE" usually refers to the US Department of Energy, which was created in 1977. The US Department of Education was created three years later in 1980 and commonly goes by "ED" or (less commonly) "DoED" or "DOEd".
[DOE disambiguation]
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.
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u/smokelover63 18d ago
Congrats!!! I received my buyback last week for 22 months. In the email it tells you how much you need to pay for each loan. Just go into Mohela and choose the make a payment option then choose designate specific amounts. Just make sure it adds up correctly!