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- Posts: 308212
- Joined: Tue Aug 11, 2009 9:32 am
Anonymous User wrote:I am a government employee within the DOJ who has really taken advantage of the PSLF and PAYE system. I really hope they grandfather people into the program because I have been using PAYE and PSLF as a way to paying back as little amount as possible with the hope of forgiveness.
I paid $0 for the first two years of the program. Subsequent years have been based upon my tax returns, in which i have found every possible way to reduce my AGI (maxing retirement contributions etc). I make mid six figures now and i'm estimating i will pay back around 30k until forgiveness on 180k in loans at 6.8 interest. it is a great deal if you know how to utilize it correctly.
Do you mind posting estimate of your current balance and what it might be at forgiveness?
its around 215 now. I am estimating it will probably be around 230-250 at forgiveness.
- Posts: 31199
- Joined: Sat Feb 01, 2014 12:23 pm
My estimates are 120k to 150k of forgiveness in 2026. The range really just depends on salary changes. If I earn more then my out of pocket increases under PAYE and thus more debt is amortized. If I maintain my current level of earning, then I can't amortize as much.
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