IDR Recount/Audit Update!

Great news on the IDR Recount/Audit.   The student loan ombudsman Bonnie Latreille said the Department of Education are almost done processing the One-Time Account Adjustment and that should be done very soon.  She also said that borrowers who have multiple consolidations might see a delay—just because it’s trickier to calculate these more complex accounts. Stay tuned.

This IDR recount is very important for many because under this program you can obtain long lost credit for periods of repayment, forbearance and deferment prior to your Direct Consolidation loans – that was formerly just gone.

Also, if you utilize Fresh Start before midnight 9/30 for any defaulted loans, you can also receive IDR credit for the Covid period – back to March 2020.  That’s another 4.5 years.

I just looked at a client’s data file and once I added up all this time, it’s getting really close to or even past the forgiveness period.  No more loans!