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Thread: my student loan update

  1. #1
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    my student loan update

    The payment plan I applied for was accepted at an amount I can do (living low rent like I am). Whew, I am so excited.

    Next is to call the PSLF and see what the status is on that application.

    After that see if I can get the 3 previous years I have paid into the system counted towards my 10 years of service.

  2. #2
    Senior Member Ultralight's Avatar
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    Yppej:

    Thoughts on this?
    I came from a real tough neighborhood. I put my hand in some cement and felt another hand." -- Rodney Dangerfield

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    So Zoe Girl has not benefitted from this system at all yet despite being under financial stress. I guess it is possible for higher earnersto repay their loans as she has been doing. Of course, that could crimp their jetset lifestyle.

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    I don't think I understand how the PSLF works yet. Do you have to enroll in the plan to have time count towards the plan? Are you already in a different repayment plan, and you are trying to switch to PSLF? Or does where you work have to enroll you? I guess what I am trying to understand is why the 3 years would not count?

  5. #5
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    You need to first apply for an income based repayment plan, I believe there are 2 options. You can apply and they will give you the best deal out of the two. Then you can apply for the PSLF on your own, all your work does is verify your employment but you have to request it. That is quite easy. Then make 120 full payments while in that or similar employment and the balance is forgiven for your service. I had an interruption in paying because I was very low income with 3 kids and the payment went from $30 to over $200, I just deferred and paid a few payments every year but not enough to be on the program. I am not sure if they will count the 3 years because it was interrupted. The PSLF does not carry a tax penalty on the forgiven balance like some other plans. I am not going to have a whole lot forgiven by the end actually, but that is okay for any of it.

    And I have not been able to make my payments very often over the years. I graduated during the recession and had a very hard time getting reasonably paid work.

  6. #6
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    Whew... I am glad PSLF is a possibility for you, ZG.

  7. #7
    Senior Member Ultralight's Avatar
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    Quote Originally Posted by Yppej View Post
    So Zoe Girl has not benefitted from this system at all yet despite being under financial stress. I guess it is possible for higher earnersto repay their loans as she has been doing. Of course, that could crimp their jetset lifestyle.
    So how will you feel about her once she does benefit from this system?

    She has not been paying her loans, which she has noted in this thread and others. How do you feel about her now?
    I came from a real tough neighborhood. I put my hand in some cement and felt another hand." -- Rodney Dangerfield

  8. #8
    Simpleton Alan's Avatar
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    Quote Originally Posted by Ultralight View Post
    So how will you feel about her once she does benefit from this system?

    She has not been paying her loans, which she has noted in this thread and others. How do you feel about her now?
    UL, if you and Yppej want to go after each other that's fine, but don't bring others into your argument.
    "Things should be made as simple as possible, but not one bit simpler." ~ Albert Einstein

  9. #9
    Senior Member Ultralight's Avatar
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    Quote Originally Posted by Alan View Post
    UL, if you and Yppej want to go after each other that's fine, but don't bring others into your argument.
    Duly noted. I was remiss.
    I came from a real tough neighborhood. I put my hand in some cement and felt another hand." -- Rodney Dangerfield

  10. #10
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    Thank you Alan,

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