On Wednesday, the Education Department announced that it’s extending the deadline for borrowers to benefit from the one-time account adjustments. These adjustments are intended to bring payment progress up to date for those on income-driven repayment plans and Public Service Loan Forgiveness.
To receive the account adjustment automatically, borrowers must be in the federal direct loan program or have federally held loans in the Federal Family Education Loan program. Borrowers without those types of loans previously had until April 30 to consolidate into one of those programs to benefit, but now, the department is extending that deadline to June 30.
