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  • annual recertification date

    Was just on the phone with fedloans- apparently the recertification date for income has been postponed to late 2022. Did other people's date to recertify income get pushed back that far as well. That actually is quite helpful for those who are expecting income increases...

  • #2
    Yes, thank you for sharing. There have been others on the Reddit PSLF board that have shared similar data points.

    Simply put, no one really knows, but I have stated for a few months here that people worrying about recertification asap are really wasting their time.

    The most likely outcome in my opinion is that everyone goes back to the way it was - if you had made 3 payments on the most recent verification before COVID stoppage, you'll have another 9 payments until you need to do it again, so on and so forth.

    We had been required to recertify in March just as things got put on hold, and our income has jumped significantly, so it's a big deal for us and the 'stimulus' keeps on coming.

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    • #3
      Thanks for checking. Any updates? Just got a notification on studentloans.gov that "It's time to recertify your income-driven repayment plan." Don't see any dates mentioned. Hoping this will also be deferred.

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      • #4
        Still not sure when they are going to require you to send your information.

        CBCwDiffpls
        Hospitalist
        CBCwDiffpls Did they mention a due date? Or is it simply your annual filing now?

        The reason the income-driven repayment plan is certified annually is to make sure your payment is calculated based on your most current income, whether you report a tax return or pay stubs.

        I wouldn't miss the recertification date though as they can put your account into forbearance (real forbearance not administrative forbearance) and your interest could capitalize.
        Helping student loan borrowers manage their student loans. StudentLoanAdvice.com. [email protected]

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        • #5
          Originally posted by Andrew StudentLoanAdvice View Post
          Still not sure when they are going to require you to send your information.

          CBCwDiffpls
          Hospitalist
          CBCwDiffpls Did they mention a due date? Or is it simply your annual filing now?

          The reason the income-driven repayment plan is certified annually is to make sure your payment is calculated based on your most current income, whether you report a tax return or pay stubs.

          I wouldn't miss the recertification date though as they can put your account into forbearance (real forbearance not administrative forbearance) and your interest could capitalize.
          I would delay certifying until they tell you too... no idea when that would be. We can’t be expected to know when to.... also fed loans is being shut off, who knows what will happen

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          • #6
            Originally posted by Andrew StudentLoanAdvice View Post
            Still not sure when they are going to require you to send your information.

            CBCwDiffpls
            Hospitalist
            CBCwDiffpls Did they mention a due date? Or is it simply your annual filing now?

            The reason the income-driven repayment plan is certified annually is to make sure your payment is calculated based on your most current income, whether you report a tax return or pay stubs.

            I wouldn't miss the recertification date though as they can put your account into forbearance (real forbearance not administrative forbearance) and your interest could capitalize.
            I do not see anything about a due date. Under my notifications, there are two of them that state "It's time to recertify your income-driven repayment plan. Complete your annual recertification." but the notifications are not dated. When I click on them, it just links to the IDR request page.

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            • #7
              Originally posted by CBCwDiffpls View Post

              I do not see anything about a due date. Under my notifications, there are two of them that state "It's time to recertify your income-driven repayment plan. Complete your annual recertification." but the notifications are not dated. When I click on them, it just links to the IDR request page.
              U definitely do not need to recertify at this moment based on all the literature and guidance provided during the pause.

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              • #8
                Originally posted by East coast View Post

                U definitely do not need to recertify at this moment based on all the literature and guidance provided during the pause.
                Awesome, thanks. Would definitely help if I could push off recertification as long as possible because I would still use my 2018 residency tax base vs my 2020 attending base.

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                • #9
                  Originally posted by CBCwDiffpls View Post

                  Awesome, thanks. Would definitely help if I could push off recertification as long as possible because I would still use my 2018 residency tax base vs my 2020 attending base.
                  Precisely. Keeping your lower income (as reported back in 2018) + the current forbearance = huge forgiveness in the future.
                  Helping student loan borrowers manage their student loans. StudentLoanAdvice.com. [email protected]

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                  • #10
                    Is it truly an option to use your pay stub for income recertification? What if one is married or has additional income such as selling of stocks etc.

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                    • #11
                      Yes, the key is that they take gross, not net into account if you use a paystub.

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                      • #12
                        Originally posted by histiocyte View Post
                        Is it truly an option to use your pay stub for income recertification? What if one is married or has additional income such as selling of stocks etc.
                        Yes, you just have to have a justification for them to use your paystub since the questionnaire will ask Has your income significantly decreased since you filed your last federal income tax return?

                        If you don't then they will use your tax return.
                        Helping student loan borrowers manage their student loans. StudentLoanAdvice.com. [email protected]

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                        • #13
                          My last conversation with FedLoan was in June 2021. I spoke to associate #622793. I was told that my next income recertification would be January 2023, and that I would start getting emails in October/November 2022 prompting me to recertify.

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                          • #14
                            If asked to recertify in Feb 2022, could I just use my wife's and my tax return from 2020 as we will not have done our 2021 taxes yet? would result in a lower payment if this was the case as had to pay some capital gains on selling some equity in 2021.

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                            • #15
                              Originally posted by histiocyte View Post
                              If asked to recertify in Feb 2022, could I just use my wife's and my tax return from 2020 as we will not have done our 2021 taxes yet? would result in a lower payment if this was the case as had to pay some capital gains on selling some equity in 2021.
                              Yes. You haven't filed your tax return for 2021 yet so use 2020.
                              Helping student loan borrowers manage their student loans. StudentLoanAdvice.com. [email protected]

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