ri.co wrote:sparkytrainer wrote:ri.co wrote:I am applying this cycle and have gotten a few acceptances so far (CUNY, Lewis and Clark, UC Irvine). However, my numbers aren't so hot (3.6, 155) so I am expecting skinny FinAid. This whole time I was pinning my bets on PSLF and according to this article even if the PROSPER bill passes it will only affect those who take out loans after 2019. Is this true? Hence, I should probably matriculate at the best-ranked law school that grants me an acceptance this cycle (to ensure I am grandfathered)?
https://www.usnews.com/education/blogs/ ... dent-loans
I would not expect being grandfathered in. The first people eligible under PLSF haven't even had their loans forgiven yet. Relying on PLSF going forward is a total risk.
This is the key part of the article I should have quoted:
Let's say you started borrowing for college prior to 2019. You could still receive a direct loan all the way through 2024, then enter public service, repay your loan for 10 years and still be eligible for forgiveness for the balance in 2034. If, however, you begin borrowing for college in 2019 or later, you would only be eligible for ONE loans and ineligible for PSLF.
So wouldn't there be more of a risk to wait until after 2019?
What I am saying is with republicans in control and them targeting PLSF, its probably unwise to rely on it existing in any form, even if you enroll in school next year.