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Podcast: The College Investor Audio Show
Episode: Student Loan IDR Backlog Drops Below 1.1 Million
Description: For months, income-driven repayment processing has been a source of frustration for student loan borrowers. In August, the Department of Education reported (PDF File) that it processed 305,641 IDR applications. That figure marks one of the best months since courts required public updates earlier this year.The backlog now stands at 1,076,266, down significantly from nearly 2 million in the spring. For borrowers, this means faster processing of applications that determine monthly payment amounts and eligibility for long-term student loan forgiveness.PSLF buyback processing also saw it's best month yet, with 5,400 PSLF buyback requests processed. However, the backlog of buyba...