Loan forgiveness

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
trooper10538
Posts: 28
Joined: Sat Dec 10, 2016 4:14 am

Loan forgiveness

Postby trooper10538 » Sat Jan 28, 2017 10:15 pm

I had student loans in the past that were forgiven because I've been in public service for 18 years (Texas State Trooper). Now if I take out additional loans for law school does the time start over, meaning would I have to do another 10 years in public service to be eligible for loan forgiveness again? Thanks

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haus
Posts: 3642
Joined: Wed Aug 18, 2010 11:07 am

Re: Loan forgiveness

Postby haus » Sat Jan 28, 2017 11:00 pm

trooper10538 wrote:I had student loans in the past that were forgiven because I've been in public service for 18 years (Texas State Trooper). Now if I take out additional loans for law school does the time start over, meaning would I have to do another 10 years in public service to be eligible for loan forgiveness again? Thanks

Yes.

Assuming PSLF stays intact. If memory serves the requirement to be eligible for forgiveness is 120 monthly payments (for the specific loan be forgiven) while working on eligible public service job(s).

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KunAgnis
Posts: 220
Joined: Mon Apr 13, 2015 11:41 pm

Re: Loan forgiveness

Postby KunAgnis » Sat Jan 28, 2017 11:03 pm

And honestly, given that Obama had tried to eliminate loan forgiveness programs, I wouldn't be surprised if the program stay intact for 10 years. Best bet is to just negotiate scholarships with the law schools to preemptively reduce your loans going forward. This is a good idea even if the program stays around long enough.

trooper10538
Posts: 28
Joined: Sat Dec 10, 2016 4:14 am

Re: Loan forgiveness

Postby trooper10538 » Sat Jan 28, 2017 11:07 pm

Thanks

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studentloanplanner
Posts: 36
Joined: Thu Dec 22, 2016 6:01 pm

Re: Loan forgiveness

Postby studentloanplanner » Fri Feb 03, 2017 2:54 pm

trooper10538 wrote:I had student loans in the past that were forgiven because I've been in public service for 18 years (Texas State Trooper). Now if I take out additional loans for law school does the time start over, meaning would I have to do another 10 years in public service to be eligible for loan forgiveness again? Thanks


If I hadn't already enrolled in law school, I would not bet on any federal assistance in the form of PSLF. My guess is that they remove the PSLF language or alter it from the promissory note by 2019 if not earlier




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