my student loan update

[Zoe Girl]

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.

[Ultralight]

Yppej:

Thoughts on this?

[Yppej]

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.

[Tybee]

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?

[Zoe Girl]

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.

[dado potato]

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

[Ultralight]

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?

[Alan]

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.

[Ultralight]

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.

[Zoe Girl]

Thank you Alan,

[Tybee]

I think it's fantastic that you persevered and got through to them and got an acceptable payment plan set up. That is major!!

[San Onofre Guy]

I will never understand people who are willing to borrow money when offered but are unwilling to pay iT back when asked.

[Ultralight]

I will never understand people who are willing to borrow money when offered but are unwilling to pay iT back when asked.


I am not saying it is right for someone to borrow and no pay back. But it is easy to understand. Getting money that you don't have to work for is great. Spending money is fun! Working to pay a loan back is a real drag, a buzzkill.

Now you understand. :)

[LDAHL]

Spending money is fun! Working to pay a loan back is a real drag, a buzzkill.



I think I saw that on a sign at one of Bernie’s rallies.