Hi Heather,

I’m on the IBR plan, I’ve just started working at a 501(c)(3), and I intend to file for PSLF when I reach 120 payments. According to the Employment Certification Form, “I may only qualify for Public Service Loan Forgiveness after I have made 120 separate, on-time, qualifying monthly payments on an eligible Direct Loan, after October 1, 2007, while employed full-time by a public service organization(s), or serving in a full-time AmeriCorps or Peace Corps position, in accordance with the definitions in Section 5. These 120 payments do not have to be consecutive…”

My question is: if I make my monthly payment on time, as scheduled, and then 10 or 15 days later make *another* payment while my balance is still zero, does that count as another payment toward my 120 or will it not count because my monthly payment has already been made? In other words, if I can make 120 payments in 5 years by doing two payments a month I’d like to do that, but I want to make sure these second monthly payments qualify.

Thanks!

Nope.  Only one payment per month will be counted towards the 120.

Sad. :( Thank you!