“I was like, wow, this was amazing,” Hohler said of hearing of the debt forgiveness. “It felt like a gift from the universe, and then it didn’t happen.”
Scott Buchanan, the executive director of the Student Loan Servicing Alliance, a servicer trade group, said that he believes the Department of Education will start processing cancellation for borrowers in the income-based repayment plan, which Hohler is on, relatively soon.
“There’s going to be a hold harmless here,” he said. “If they determined that you met forgiveness eligibility two months ago and you made two payments since, you’re going to get those two payments refunded. I do understand how it can be a challenge.”
Buchanan said he also expects servicers…