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- anyriotgirl
- Posts: 8349
- Joined: Wed Dec 18, 2013 11:54 am
so has anyone successfully gotten their loans forgiven yet or what?
or is everyone gonna get rekt like this guy in one way or another
https://www.nytimes.com/2017/10/27/your ... ments.html
https://www.nytimes.com/2017/10/27/your ... ments.html
Last edited by anyriotgirl on Sat Jan 27, 2018 12:24 am, edited 1 time in total.
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Re: so has anyone successfully gotten their loans forgiven yet or what?
We need a Mr. Robot-esq attack on the credit institutions.
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- Posts: 84
- Joined: Mon Mar 11, 2013 5:39 pm
Re: so has anyone successfully gotten their loans forgiven yet or what?
Shoutout to your avi. Joanne Prada is life.anyriotgirl wrote:or is everyone gonna get rekt like this guy in one way or another
https://www.nytimes.com/2017/10/27/your ... ments.html
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Re: so has anyone successfully gotten their loans forgiven yet or what?
Doesn't this take like 20+ years of payments?
- A. Nony Mouse
- Posts: 29293
- Joined: Tue Sep 25, 2012 11:51 am
Re: so has anyone successfully gotten their loans forgiven yet or what?
PSLF is 10 years. This fall is the earliest anyone could get the debt forgiven.
(And while I’m probably going to get my own PSLF screwed up as karmic revenge for saying this, the materials about PSLF are SUPER clear that you have to be on an income-based plan, not graduated, and it seems you should know what plan you’re on. Though still super shady for the loan provider to be able to rely on that when the guy tried repeatedly to make sure his payments qualified and wasn’t told otherwise.)
(And while I’m probably going to get my own PSLF screwed up as karmic revenge for saying this, the materials about PSLF are SUPER clear that you have to be on an income-based plan, not graduated, and it seems you should know what plan you’re on. Though still super shady for the loan provider to be able to rely on that when the guy tried repeatedly to make sure his payments qualified and wasn’t told otherwise.)
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- Desert Fox
- Posts: 18283
- Joined: Thu Sep 04, 2014 4:34 pm
Re: so has anyone successfully gotten their loans forgiven yet or what?
My brother got his forgiven, but it took quadriplegia to do it.
Last edited by Desert Fox on Fri Jan 26, 2018 11:52 pm, edited 1 time in total.
- anyriotgirl
- Posts: 8349
- Joined: Wed Dec 18, 2013 11:54 am
Re: so has anyone successfully gotten their loans forgiven yet or what?
I know I wanna know if anyone in the first batch of people got their paperwork approved and balance dischargedA. Nony Mouse wrote:PSLF is 10 years. This fall is the earliest anyone could get the debt forgiven.
(And while I’m probably going to get my own PSLF screwed up as karmic revenge for saying this, the materials about PSLF are SUPER clear that you have to be on an income-based plan, not graduated, and it seems you should know what plan you’re on. Though still super shady for the loan provider to be able to rely on that when the guy tried repeatedly to make sure his payments qualified and wasn’t told otherwise.)
Last edited by anyriotgirl on Sat Jan 27, 2018 12:24 am, edited 1 time in total.
- A. Nony Mouse
- Posts: 29293
- Joined: Tue Sep 25, 2012 11:51 am
Re: so has anyone successfully gotten their loans forgiven yet or what?
I definitely want to know too! I think people would be submitting the paperwork right about now so I’m not sure when the process will be complete.
Frankly it wouldn’t surprise me if the DOE doesn’t know yet either.
Frankly it wouldn’t surprise me if the DOE doesn’t know yet either.
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Re: so has anyone successfully gotten their loans forgiven yet or what?
WHat did ppl do before PSLF?
- MKC
- Posts: 16246
- Joined: Thu Jun 14, 2012 10:18 am
Re: so has anyone successfully gotten their loans forgiven yet or what?
Keep paying forever as their loan balance increased faster than they could pay it down.Thesaurus wrote:WHat did ppl do before PSLF?
I know someone that still owes the same $80,000 they owed 15 years ago.
Last edited by MKC on Sat Jan 27, 2018 1:18 pm, edited 4 times in total.
- PeanutsNJam
- Posts: 4670
- Joined: Tue Jul 10, 2012 1:57 pm
Re: so has anyone successfully gotten their loans forgiven yet or what?
Or successfully paid off their loans because school was way cheaper even 10 years ago.MarkinKansasCity wrote:Keep paying forever as their loan balance increased faster than they could pay it down.Thesaurus wrote:WHat did ppl do before PSLF?
I know someone that still owes the same $80,000 they owed 15 years ago.
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Re: so has anyone successfully gotten their loans forgiven yet or what?
I understand these are all for public service, but I'm wondering what it's going to look like after 25-30 years when people don't pay off the entire balance of the loan. It is my understanding that the loan is forgiven.
- A. Nony Mouse
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Re: so has anyone successfully gotten their loans forgiven yet or what?
Yes, but the amount you’re forgiven will count as taxable income for that year.
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Re: so has anyone successfully gotten their loans forgiven yet or what?
Yeah, I understand that. I guess I'm interested in seeing how severe the backlash will be in a real world example.A. Nony Mouse wrote:Yes, but the amount you’re forgiven will count as taxable income for that year.
- boredtodeath
- Posts: 697
- Joined: Tue May 08, 2012 3:37 pm
Re: so has anyone successfully gotten their loans forgiven yet or what?
Not under PSLF.A. Nony Mouse wrote:Yes, but the amount you’re forgiven will count as taxable income for that year.
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Re: so has anyone successfully gotten their loans forgiven yet or what?
Yes, but was Nony talking about PSLF? No.boredtodeath wrote:Not under PSLF.A. Nony Mouse wrote:Yes, but the amount you’re forgiven will count as taxable income for that year.
- boredtodeath
- Posts: 697
- Joined: Tue May 08, 2012 3:37 pm
Re: so has anyone successfully gotten their loans forgiven yet or what?
I read 1styearlateral's post to be asking what the public backlash is going to look like after a decade of people getting massive debt forgiven under PSLF. If s/he was talking about what the backlash will be when RE/PAYE kicks in, OK.Nebby wrote:Yes, but was Nony talking about PSLF? No.boredtodeath wrote:Not under PSLF.A. Nony Mouse wrote:Yes, but the amount you’re forgiven will count as taxable income for that year.
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- A. Nony Mouse
- Posts: 29293
- Joined: Tue Sep 25, 2012 11:51 am
Re: so has anyone successfully gotten their loans forgiven yet or what?
Yeah, I understood this
Also I understood backlash to mean tax consequences, not public opinion.
to be talking about PAYE/REPAYE as distinct from public service.1styearlateral wrote:I understand these are all for public service, but I'm wondering what it's going to look like after 25-30 years when people don't pay off the entire balance of the loan. It is my understanding that the loan is forgiven.
Also I understood backlash to mean tax consequences, not public opinion.
- anyriotgirl
- Posts: 8349
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Re: so has anyone successfully gotten their loans forgiven yet or what?
bump I still wanna know
Last edited by anyriotgirl on Sat Jan 27, 2018 12:23 am, edited 1 time in total.
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Re: so has anyone successfully gotten their loans forgiven yet or what?
Still too early. I don't think the majority will become eligible to apply until Decemberanyriotgirl wrote:bump I still wanna know
- anyriotgirl
- Posts: 8349
- Joined: Wed Dec 18, 2013 11:54 am
Re: so has anyone successfully gotten their loans forgiven yet or what?
anyriotgirl wrote:bump I still wanna know
Last edited by anyriotgirl on Sat Jan 27, 2018 12:21 am, edited 1 time in total.
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- barrelofmonkeys
- Posts: 1942
- Joined: Wed Jun 12, 2013 6:41 pm
Re: so has anyone successfully gotten their loans forgiven yet or what?
Supposing that 10 years ago, things looked pretty similar to how they do now w/r/t grace (i.e., my first payment won't be until January), 120 on-time payments haven't happened yet for people.anyriotgirl wrote:anyriotgirl wrote:bump I still wanna know
Bump again January 20
- A. Nony Mouse
- Posts: 29293
- Joined: Tue Sep 25, 2012 11:51 am
Re: so has anyone successfully gotten their loans forgiven yet or what?
My first payment was November. That said, I have no idea how long it’s going to take to process any of this.
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Re: so has anyone successfully gotten their loans forgiven yet or what?
Was the first payment due in November or did you get your first bill in November? Unless you graduated before May, the first due date should have been December. Six months after May is November, which is when you're billed, and it was due in Dec.A. Nony Mouse wrote:My first payment was November. That said, I have no idea how long it’s going to take to process any of this.
- A. Nony Mouse
- Posts: 29293
- Joined: Tue Sep 25, 2012 11:51 am
Re: so has anyone successfully gotten their loans forgiven yet or what?
You’re probably right, I don’t remember at this point except that it was before January.Nebby wrote:Was the first payment due in November or did you get your first bill in November? Unless you graduated before May, the first due date should have been December. Six months after May is November, which is when you're billed, and it was due in Dec.A. Nony Mouse wrote:My first payment was November. That said, I have no idea how long it’s going to take to process any of this.
But if the January person was unfortunate enough to be on a quarter system and graduate in June that probably explains the discrepancy.
Seriously? What are you waiting for?
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