NEW EDUCATION DEPARTMENT STATUS REPORT SHOWS GRADUAL PROCESSING OF IDR, PSLF BACKLOG
The Department of Education’s latest filing shows continued progress in reducing backlogs for income‑driven repayment (IDR) and Public Service Loan Forgiveness (PSLF) Buyback applications. As of the end of last year, the IDR backlog stood at about 734,000 applications, down from more than 1.5 million earlier in the year, and the PSLF Buyback backlog totaled about 83,000. Those numbers could increase if a proposed settlement to end the SAVE repayment plan is approved, which would shift more than seven million borrowers into other repayment options. The settlement also requires the Department to begin a rulemaking process to formally remove SAVE from federal regulations ahead of its scheduled sunset in 2028.