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March Loan Discharge Statistics
Number of borrowers receiving forgiveness through various IDR plans in March.
Primary Sources
Education Department Forgives Student Loans For 21,200 People As ...
New Haven, Ct. April 16, 2026 U.S. Education Secretary Linda McMahon. The Education Department discharged thousands of student loans last month under income-driven repayment plans, according to a new court filing. (Mark Mirko/Connecticut Public via Getty Images)Connecticut Public Broadcasting via Getty ImagesMore than 21,000 borrowers just got their federal student loans forgiven, according to the Education Department, signalling that discharge processing for income-driven repayment plans is continuing. But trouble looms on the horizon as millions of borrowers face significant changes to the student loan repayment system in the coming weeks and months.The new data, included in a court filing last week, indicates that the department is following through with its public assurances to resume processing student loan forgiveness for eligible borrowers in three income-driven repayment plans. Income-driven plans can offer borrowers affordable monthly payments tied to their income and family size, with any remaining balance forgiven after 20 or 25 years in repayment (depending on the specific plan). The Trump administration had instituted a systemwide suspension of student loan discharges under income-driven plans last year, citing court rulings related to litigation over the future of the SAVE plan. The pause triggered a legal challenge, which ultimately prompted the department to resume processing discharges for qualifying borrowers under all income-driven plans, aside from SAVE.But while the latest status report filed by the department indicates that borrowers continue to receive student loan forgiveness through income-driven repayment, trouble may loom on the horizon as the federal student loan system is undergoing major changes. Here’s the latest. Student Loans Forgiven For Thousands Of Borrowers Under Income-Driven Repayment PlansAccording to the Education Department’s latest status report filed last week, approximately 21,200 borrowers got their student loans forgiven during the month of March through income-driven repayment plans. This includes:800 borrowers through Pay As You Earn (or PAYE), which has a 20-year repayment term;9,900 through Income-Contingent Repayment (or ICR), which has a 25-year term;And 10,500 through Income-Based Repayment (or IBR), which has a 20- or 25-year term, depending on when the borrower first took out their loans.The department noted in its filing that these aren’t exact figures, and are rounded up to the nearest 100.The new d...
643,000 Students Await Loan Forgiveness and IDR Approval
In the United States, a staggering 643,000 federal student loan borrowers find themselves ensnared in a growing administrative backlog. These individuals are waiting for either the approval of more manageable repayment plans or the long-anticipated forgiveness of their loans. Recent court filings, first reported by CNBC, shed light on this pressing issue, revealing that many applicants are in limbo just as repayment obligations are tightening for millions. The current situation highlights a significant challenge within the U.S. Department of Education. As of the end of March, there were approximately 553,966 borrowers with pending applications for Income-Driven Repayment (IDR) plans. These plans are crucial for borrowers who struggle to meet their monthly repayment requirements, as they link repayment amounts to the borrower’s income and family size. However, the sheer volume of pending applications indicates a system that is far from seamless. Many borrowers are left waiting, and the backlog underscores the popularity of these repayment programs while also illustrating the difficulties faced by the Department of Education in managing them effectively. IDR Loan Forgiveness Applications Still in Limbo In addition to the IDR applicants, there are 89,720 borrowers awaiting decisions on their Public Service Loan Forgiveness (PSLF) applications. Established in 2007, the PSLF program allows government and nonprofit employees to have their remaining student debt canceled after making 10 years of qualifying payments. A newer initiative, known as the “buyback” option, was introduced to assist borrowers in making up for missed qualifying payments during periods of deferment or forbearance. Although this mechanism was designed to expedite forgiveness timelines, it has inadvertently contributed to the growing queue of applications that remain unprocessed. IDR Approval Progress Made, Yet Challenges Persist Despite the daunting backlog, the Department of Education has made notable progress in addressing the pileup of IDR applications. The number of outstanding applications has significantly decreased from an estimated 1.4 million in July to less than 500,000 in March. Furthermore, over 21,200 borrowers benefited from debt forgiveness through their IDR programs in March, a marked increase from February, when no discharges occurred. However, the situation is less favorable for PSLF candidates. The number of borrowers waiting for “buyback” decisions has steadily in...
New federal student loan repayment plan launches this summer
Student loan rules are changing this summer, and the new plan could reshape your monthly payment. Rachel DePompa explains what the changes mean for your budget and what to do now.
Student-loan borrowers kicked off Biden's affordable repayment plan ...
The department said in a March press release that the 90-day period "provides borrowers with ample time to explore repayment options that best suit their needs and plan accordingly." Nicholas Kent, the department's undersecretary, added that eliminating SAVE will give borrowers clarity on their repayment options.
