LeviF Posted February 24, 2023 Share Posted February 24, 2023 PSLF is built into the fed loan agreement. Taking advantage of something that the G freely offered when you signed your note isnโt exactly robbing anyone. Itโs an alternative way of paying your loan back, 10 years in public service.ย Of course it might help if the title of the thread was correct ๐๐๐ Quote Link to comment Share on other sites More sharing options...
Johnny Hammersticks Posted February 24, 2023 Author Share Posted February 24, 2023 38 minutes ago, LeviF said: PSLF is built into the fed loan agreement. Taking advantage of something that the G freely offered when you signed your note isnโt exactly robbing anyone. Itโs an alternative way of paying your loan back, 10 years in public service.ย Of course it might help if the title of the thread was correct ๐๐๐ Public Service Loan Forgivenessโฆsorry jerk ๐๐ 1 Quote Link to comment Share on other sites More sharing options...
Simon Posted February 25, 2023 Share Posted February 25, 2023 4 hours ago, Johnny Hammersticks said: Very curious to see Westholeโs response to that post.ย ย ย Since I'm sure you're waiting with abated breath, I'll spare you the suspense and suggest it might be quite a while on that response.ย ย ย 1 3 Quote Link to comment Share on other sites More sharing options...
Augie Posted February 25, 2023 Share Posted February 25, 2023 2 hours ago, Johnny Hammersticks said: Public Service Loan Forgivenessโฆsorry jerk ๐๐ ย Forgive me, for Iโm not really familiar with all this. Did I read you have to work as some type of โpublic servantโ (that is a terrible term IMO, so please let me know if something else is more palatable) for a period of years? ย If that is the case, hell ya! You earned that!ย 1 Quote Link to comment Share on other sites More sharing options...
LeviF Posted February 25, 2023 Share Posted February 25, 2023 2 minutes ago, Augie said: ย Forgive me, for Iโm not really familiar with all this. Did I read you have to work as some type of โpublic servantโ (that is a terrible term IMO, so please let me know if something else is more palatable) for a period of years? ย If that is the case, hell ya! You earned that!ย Government or NFP work 1 Quote Link to comment Share on other sites More sharing options...
Johnny Hammersticks Posted February 25, 2023 Author Share Posted February 25, 2023 13 minutes ago, Augie said: ย Forgive me, for Iโm not really familiar with all this. Did I read you have to work as some type of โpublic servantโ (that is a terrible term IMO, so please let me know if something else is more palatable) for a period of years? ย If that is the case, hell ya! You earned that!ย Yes. ย Ra Ra Hammersticks!! Quote Link to comment Share on other sites More sharing options...
Johnny Hammersticks Posted February 25, 2023 Author Share Posted February 25, 2023 So how bout those Sabres? ย Quote Link to comment Share on other sites More sharing options...
muppy Posted February 25, 2023 Share Posted February 25, 2023 38 minutes ago, Johnny Hammersticks said: So how bout those Sabres? ย pretty danged good wooooooooot! Quote Link to comment Share on other sites More sharing options...
Augie Posted February 25, 2023 Share Posted February 25, 2023 59 minutes ago, Johnny Hammersticks said: Yes. ย Ra Ra Hammersticks!! ย Damn! When I recently turned 62 in my county in Georgia we no longer had to pay the school board part of property taxes. Our bill dropped by 2/3, and Iโm not apologizing for it. ย 2 Quote Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted February 25, 2023 Share Posted February 25, 2023 2 hours ago, Augie said: ย Forgive me, for Iโm not really familiar with all this. Did I read you have to work as some type of โpublic servantโ (that is a terrible term IMO, so please let me know if something else is more palatable) for a period of years? ย If that is the case, hell ya! You earned that!ย That's how my wife got her MLIS (Masters Library & Information Science) degree (U of I) paid for. This was like over 25 years ago... She had to agree to stay working in Illinois for a certain number of years.ย Quote Link to comment Share on other sites More sharing options...
Johnny Hammersticks Posted February 25, 2023 Author Share Posted February 25, 2023 11 hours ago, ExiledInIllinois said: That's how my wife got her MLIS (Masters Library & Information Science) degree (U of I) paid for. This was like over 25 years ago... She had to agree to stay working in Illinois for a certain number of years.ย Kind of like Northern Exposure when Joel Fleichman had to work in Alaska for 10 years to pay off his medical school bills. ย I did 3 years in Fairbanks! ย I should get a bonus! ย ๐ย 1 Quote Link to comment Share on other sites More sharing options...
Just Jack Posted February 25, 2023 Share Posted February 25, 2023 14 hours ago, ExiledInIllinois said: That's how my wife got her MLIS (Masters Library & Information Science) degree (U of I) paid for. This was like over 25 years ago... She had to agree to stay working in Illinois for a certain number of years.ย ย New York has a similar program. ย Tuition-Free Degree Program: The Excelsior Scholarship (ny.gov) 1 Quote Link to comment Share on other sites More sharing options...
Johnny Hammersticks Posted February 26, 2023 Author Share Posted February 26, 2023 Here in Vermont you can go to school to get your nursing degree for free. ย Such a shortage. Quote Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted February 26, 2023 Share Posted February 26, 2023 6 minutes ago, Johnny Hammersticks said: Here in Vermont you can go to school to get your nursing degree for free. ย Such a shortage. Who wants to be a nurse? Such a grind. Give the medical degree away free, now we are in business... That's why healthcare is so expensive... The damn doctors.ย They need a sweet return on their medical education expenses... ย ๐ ย Quote Link to comment Share on other sites More sharing options...
Johnny Hammersticks Posted February 26, 2023 Author Share Posted February 26, 2023 2 hours ago, ExiledInIllinois said: Who wants to be a nurse? Such a grind. Give the medical degree away free, now we are in business... That's why healthcare is so expensive... The damn doctors.ย They need a sweet return on their medical education expenses... ย ๐ ย I want to dunk your head in a toilet and give you a swirly so bad. ย Nerd. 1 Quote Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted February 26, 2023 Share Posted February 26, 2023 1 hour ago, Johnny Hammersticks said: I want to dunk your head in a toilet and give you a swirly so bad. ย Nerd. It's the truth. You can make as much being a lock operator.ย 1 Quote Link to comment Share on other sites More sharing options...
EmotionallyUnstable Posted February 28, 2023 Share Posted February 28, 2023 My wife is in an interesting spot. Similar to @Johnny Hammersticks, she is a school psych (not a PhD, just a MS) and this is her 8th year in a public school here in NY. Obviously we are awaiting the supreme courtโs decision on the 10k she is eligible for in relief via Bidenโs plan.ย ย If it goes through, we will pay off the remaining balance no matter what. ย Although, I am assuming it wonโt, and sheโll be on the hook for the full remaining balance (around 16k). We are contemplating what itโd look like to pay outright a large sum and be done with it vs. paying on the loans for two more years while incruing interest and seeing is the PSLF would wipe out the remainder, ultimately saving us money in the long run. Weโve run a few amortization schedules in the past, and it seems to come down to how fast she could get approved and the loans forgiven.ย ย Weโll see! Sheโsย contemplated returning to school for her PhD and looking into private practice. A few of her old classmates at her graduate program went on to do that. She currently works with one of the most needy inner city populations. Her job is difficult. Sheโs a warrior. Either way I am happy for her, and us, to be done with that unnecessary burden. ย I know she has more than earned it.ย Quote Link to comment Share on other sites More sharing options...
Johnny Hammersticks Posted February 28, 2023 Author Share Posted February 28, 2023 3 minutes ago, EmotionallyUnstable said: My wife is in an interesting spot. Similar to @Johnny Hammersticks, she is a school psych (not a PhD, just a MS) and this is her 8th year in a public school here in NY. Obviously we are awaiting the supreme courtโs decision on the 10k she is eligible for in relief via Bidenโs plan.ย ย If it goes through, we will pay off the remaining balance no matter what. ย Although, I am assuming it wonโt, and sheโll be on the hook for the full remaining balance (around 16k). We are contemplating what itโd look like to pay outright a large sum and be done with it vs. paying on the loans for two more years while incruing interest and seeing is the PSLF would wipe out the remainder, ultimately saving us money in the long run. Weโve run a few amortization schedules in the past, and it seems to come down to how fast she could get approved and the loans forgiven.ย ย Weโll see! Sheโsย contemplated returning to school for her PhD and looking into private practice. A few of her old classmates at her graduate program went on to do that. She currently works with one of the most needy inner city populations. Her job is difficult. Sheโs a warrior. Either way I am happy for her, and us, to be done with that unnecessary burden. ย I know she has more than earned it.ย DM me if you have any questions about PSLF. ย Now is the time to do it. ย I can at least get you all started. ย Not a very complicated process, especially if your wife has only had one employer. ย PS: Donโt count on the Biden student loan relief legislation to come through. Quote Link to comment Share on other sites More sharing options...
LeviF Posted February 28, 2023 Share Posted February 28, 2023 10 hours ago, EmotionallyUnstable said: My wife is in an interesting spot. Similar to @Johnny Hammersticks, she is a school psych (not a PhD, just a MS) and this is her 8th year in a public school here in NY. Obviously we are awaiting the supreme courtโs decision on the 10k she is eligible for in relief via Bidenโs plan.ย ย If it goes through, we will pay off the remaining balance no matter what. ย Although, I am assuming it wonโt, and sheโll be on the hook for the full remaining balance (around 16k). We are contemplating what itโd look like to pay outright a large sum and be done with it vs. paying on the loans for two more years while incruing interest and seeing is the PSLF would wipe out the remainder, ultimately saving us money in the long run. Weโve run a few amortization schedules in the past, and it seems to come down to how fast she could get approved and the loans forgiven.ย ย Weโll see! Sheโsย contemplated returning to school for her PhD and looking into private practice. A few of her old classmates at her graduate program went on to do that. She currently works with one of the most needy inner city populations. Her job is difficult. Sheโs a warrior. Either way I am happy for her, and us, to be done with that unnecessary burden. ย I know she has more than earned it.ย ย Yeah you can apply now so all the payments she's already made are certified or recognized or whatever so it's a little more seamless at the 10 year mark. 1 Quote Link to comment Share on other sites More sharing options...
teef Posted February 28, 2023 Share Posted February 28, 2023 11 hours ago, EmotionallyUnstable said: My wife is in an interesting spot. Similar to @Johnny Hammersticks, she is a school psych (not a PhD, just a MS) and this is her 8th year in a public school here in NY. Obviously we are awaiting the supreme courtโs decision on the 10k she is eligible for in relief via Bidenโs plan.ย ย If it goes through, we will pay off the remaining balance no matter what. ย Although, I am assuming it wonโt, and sheโll be on the hook for the full remaining balance (around 16k). We are contemplating what itโd look like to pay outright a large sum and be done with it vs. paying on the loans for two more years while incruing interest and seeing is the PSLF would wipe out the remainder, ultimately saving us money in the long run. Weโve run a few amortization schedules in the past, and it seems to come down to how fast she could get approved and the loans forgiven.ย ย Weโll see! Sheโsย contemplated returning to school for her PhD and looking into private practice. A few of her old classmates at her graduate program went on to do that. She currently works with one of the most needy inner city populations. Her job is difficult. Sheโs a warrior. Either way I am happy for her, and us, to be done with that unnecessary burden. ย I know she has more than earned it.ย my wife is a school psych in a similar situation.ย she recently had all of her remaining loans forgiven i think after paying on time for 10 years.ย i'm sure hammersticks can walk you through this better than anyone, but all i know is that my wife is 37 with no remaining loans.ย on top of that, she always let me know how she's retiring at 55 when she has her 30 years in.ย that one bugs me. 1 Quote Link to comment Share on other sites More sharing options...
Gugny Posted March 1, 2023 Share Posted March 1, 2023 On 2/24/2023 at 6:41 PM, Simon said: ย Since I'm sure you're waiting with abated breath, I'll spare you the suspense and suggest it might be quite a while on that response.ย ย ย ย Did you tread on him?!? 1 Quote Link to comment Share on other sites More sharing options...
Just Jack Posted April 29, 2023 Share Posted April 29, 2023 The wife got her official notice today that her loans are forgiven. ย ย Original loan was $90K She's paid back $50K She still owed $117K ย Yes, she still owed almost $30K more than the original loan.ย 5 Quote Link to comment Share on other sites More sharing options...
Draconator Posted April 29, 2023 Share Posted April 29, 2023 Doesn't this have to clear the Supreme Court first? I got the notice that $20K of the $25K I owe is forgiven, but if the high court says "Nah dog, we're good, " we all would have to pay them back. Quote Link to comment Share on other sites More sharing options...
Just Jack Posted April 29, 2023 Share Posted April 29, 2023 21 minutes ago, Draconator said: Doesn't this have to clear the Supreme Court first? I got the notice that $20K of the $25K I owe is forgiven, but if the high court says "Nah dog, we're good, " we all would have to pay them back. This is a different program than what the Supreme Court is looking at.ย 1 Quote Link to comment Share on other sites More sharing options...
Johnny Hammersticks Posted May 1, 2023 Author Share Posted May 1, 2023 On 4/29/2023 at 8:15 AM, Just Jack said: The wife got her official notice today that her loans are forgiven. ย ย Original loan was $90K She's paid back $50K She still owed $117K ย Yes, she still owed almost $30K more than the original loan.ย Nice! ย My wife just last Friday got notice that her loans were also forgiven through the PSLF program. ย Between the two of us, thatโs ~$1200/month in additional income. ย Life altering. ย We both made about 50-60 additional payments than the 120 required. 3 Quote Link to comment Share on other sites More sharing options...
transplantbillsfan Posted May 4, 2023 Share Posted May 4, 2023 On 2/24/2023 at 9:05 AM, Westside said: You burdening other tax payers to pay your bills even though you can afford to pay them yourself and I'm the A-hole? I am having a wonderful day and a awesome life without reneging on my bills. ย You understand that college tuition and costs have increased at a rate that FAR surpasses inflation, right? ย Also, the loan forgiveness is only for public servants who have worked in public service jobs for 10 years while paying off their loans consistently over a period of 10 years.ย Public servants on average make significantly less than those holding similar jobs in the private sector. ย If you want to give a big middle finger to the law enforcement agents who patrol your streets, the firefighters who are there to help in all sorts of crises, the teachers who teach your kids and all their ilk, then good on you.ย 2 1 Quote Link to comment Share on other sites More sharing options...
T&C Posted June 30, 2023 Share Posted June 30, 2023 Not happening. Taxpayers are off the hook for this. ย https://www.baynews9.com/fl/tampa/news/2023/06/30/supreme-court-biden-student-debt Quote Link to comment Share on other sites More sharing options...
Johnny Hammersticks Posted June 30, 2023 Author Share Posted June 30, 2023 2 minutes ago, T&C said: Not happening. Taxpayers are off the hook for this. ย https://www.baynews9.com/fl/tampa/news/2023/06/30/supreme-court-biden-student-debt You do realize that this is entirely different that the PSLF program, right? Quote Link to comment Share on other sites More sharing options...
T&C Posted June 30, 2023 Share Posted June 30, 2023 3 hours ago, Johnny Hammersticks said: You do realize that this is entirely different that the PSLF program, right? I was unaware that there is more than one... guess I've only been following the main one. 1 Quote Link to comment Share on other sites More sharing options...
GoBills808 Posted June 30, 2023 Share Posted June 30, 2023 'taxpayers off the hook' smdh 1 1 Quote Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted June 30, 2023 Share Posted June 30, 2023 When it comes to the other loans... The WhiteHouse is attempting an end around: ย https://www.whitehouse.gov/briefing-room/statements-releases/2023/06/30/fact-sheet-president-biden-announces-new-actions-to-provide-debt-relief-and-support-for-student-loan-borrowers/ ย ย 1 Quote Link to comment Share on other sites More sharing options...
T&C Posted June 30, 2023 Share Posted June 30, 2023 11 minutes ago, ExiledInIllinois said: When it comes to the other loans... The WhiteHouse is attempting an end around: ย https://www.whitehouse.gov/briefing-room/statements-releases/2023/06/30/fact-sheet-president-biden-announces-new-actions-to-provide-debt-relief-and-support-for-student-loan-borrowers/ ย ย Like a child who got his hand slapped: ย https://www.baynews9.com/fl/tampa/politics/2023/06/30/biden-introduces--new-path--for-student-debt-relief-after-supreme-court-ruling Quote Link to comment Share on other sites More sharing options...
T&C Posted July 30, 2023 Share Posted July 30, 2023 Looks simple enough: ย https://studentaid.gov/idr/ Quote Link to comment Share on other sites More sharing options...
SoTier Posted August 1, 2023 Share Posted August 1, 2023 On 5/4/2023 at 7:46 PM, transplantbillsfan said: ย You understand that college tuition and costs have increased at a rate that FAR surpasses inflation, right? ย Also, the loan forgiveness is only for public servants who have worked in public service jobs for 10 years while paying off their loans consistently over a period of 10 years.ย Public servants on average make significantly less than those holding similar jobs in the private sector. ย If you want to give a big middle finger to the law enforcement agents who patrol your streets, the firefighters who are there to help in all sorts of crises, the teachers who teach your kids and all their ilk, then good on you.ย ย Student loan forgiveness programs go back to the 1970s at least.ย ย The general outlines of the programs have always been the same: students who accumulated debt in pursuing a degree could have all or part of it forgiven if they worked in specified fields, most commonly teaching in inner city schools. As college degrees became requirements for many jobs, most public employees were made eligible. ย In recent years, the program administrators, though, made it difficult for students to qualify for the program.ย ย The Biden administration has made it easier for more students to have their loans forgiven. 1 Quote Link to comment Share on other sites More sharing options...
Jukester Posted August 16, 2023 Share Posted August 16, 2023 For those that were waiting for the IDR forgiveness and received their letter of qualification in July, the discharges officially started happening this past Monday. My wifeโs student loan balance now shows 0.ย 1 Quote Link to comment Share on other sites More sharing options...
haroldwaide Posted August 16, 2023 Share Posted August 16, 2023 Mine too.ย I didn't have to borrow as much as some on here, but after making payments for 25 years I managed to almost double what I owed... 1 Quote Link to comment Share on other sites More sharing options...
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