beach_terror wrote:luthersloan wrote:Well, if make less then 80 or 90k a year, some of your student loan interest is tax deductable. However, given the bi-modal salary distribution you are likely either making to much to qualify, or not enough to make a real dent in your loans even with a deduction.
Well fuck it, just exempt those who opt in for like 3-5 years and make them submit paperwork and make qualifying payments or they get kicked out of the program. I'm convinced there's a solution somewhere in giving people time to catch their breath before paying off the man.
While I am still in school so I do not know for certain, I think one can get a forbarance in payments if you are not making very much. But the interest is still running. Just to take an example from my own case, I am going to be raking up like 14K a year in compounding interest starting at graduation. (or as I like to think about it, my loan balance grows by 38 dollars a day). So, with the interest rates where they are a delay in payments, without a tolling of the interest, does not do much, at least for people with big loan balances.