89,720 PSLF Buyback Applications Are Pending — But Many Borrowers Won’t Need Them

The PSLF Buyback backlog grew to 89,720 pending applications in March, according to the latest court-ordered status report (PDF File) filed today. The Department of Education decided just 3,280 applications during the month.

At that pace, borrowers at the back of the queue face a wait of over two years. But here’s the part that isn’t getting enough attention: a significant portion of these applications will likely be denied or closed — not because borrowers don’t qualify, but because they’ll finish PSLF the normal way before their buyback application is ever processed.