Should You Wait For PSLF Buyback Or Switch Out Of SAVE Now?

For public service workers inching toward loan forgiveness, timing matters. Borrowers stuck in the SAVE forbearance who submitted PSLF Buyback requests may now be facing wait times of half a year or more. According to the latest Department of Education data, the number of PSLF Buyback requests pending swelled to nearly 59,000 in May, while fewer than 3,500 were processed that month.

While the Buyback option can retroactively count previously ineligible forbearance periods, the timeline creates a difficult choice:

• Stay in the SAVE forbearance and hope your Buyback is processed before the end of the year?
• Consider transitioning to a qualifying repayment plan now to resume earning qualifying months toward PSLF in the traditional manner.

If you are fewer than six payments from the 120-payment finish line, switching could be faster. By doing so, you may be able to complete your forgiveness this year if they resume active payments and avoid the Buyback backlog entirely, since it appears the normal PSLF approval process is going fairly quickly.

So, what should you do? Here are some thoughts. Should You Wait For PSLF

Switching Repayment Plans Isn’t Simple on Should You Wait For PSLF

The current court injunction blocking portions of the SAVE plan has limited forgiveness under several IDR plans, including PAYE and ICR. However, the PSLF still counts those same plans, allowing borrowers to switch without losing their progress toward public service forgiveness.

Still, switching out of SAVE is tricky. While the new online IDR application is generally processing things quickly (3–7 days for most borrowers), we’re also hearing stories from people who are still waiting weeks.

Borrowers considering a switch must be sure their loans are eligible, their payment history is documented, and they understand how the repayment plan they choose will calculate monthly amounts. For many, IBR payments are higher than under SAVE. But even if the payments are higher, it may mean the difference between forgiveness in months versus waiting indefinitely.

Who Should Consider Switching?

If you’re between one and nine payments away from PSLF, now is the time to decide if buyback is worth the wait or if you should switch. Here are some scenarios where switching makes sense:

• You are close to 120 payments (6-9 payments away)
• You currently work for a PSLF-eligible employer and have a well-documented employment certification history.
• You don’t care about the missing months of forbearance, and just want to resume payments and get it done
• You are eligible for IBR or the Standard 10-Year plan

That last option, the Standard plan, isn’t ideal for most. Payments tend to be much higher, which could stretch budgets or cause borrowers to pause. But for some, the faster track to forgiveness may outweigh the financial pinch. Should You Wait For PSLF

If you’re well beyond 120 because prior forbearance periods qualify, I wouldn’t switch. Buyback is still likely your friend, even if the wait is frustrating. This feature is even more important if your past “buyback eligible payments” would be at a lower monthly payment than your income supports today.

However, if you find yourself at 114 or 115 payments, the months of delay might indicate the need for a fresh approach.

The uncertainty around SAVE will loom through the next few months, and most scenarios point to a 2026 resumption of payments. But just because payment resumes doesn’t mean that buyback processing will be any faster. The backlog appears to continue growing. Should You Wait For PSLF

Until then, borrowers need to weigh time against certainty. If every month counts, it may be worth re-evaluating whether waiting for a Buyback is still the best plan. Remember, you’re either going to write a check for PSLF buyback or a check for payments you’ll resume making, assuming your income is the same as it has been.