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anyriotgirl

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so has anyone successfully gotten their loans forgiven yet or what?

Postby anyriotgirl » Tue Oct 31, 2017 10:52 pm

or is everyone gonna get rekt like this guy in one way or another

https://www.nytimes.com/2017/10/27/your ... ments.html
Last edited by anyriotgirl on Sat Jan 27, 2018 12:24 am, edited 1 time in total.

1styearlateral

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Re: so has anyone successfully gotten their loans forgiven yet or what?

Postby 1styearlateral » Wed Nov 01, 2017 12:01 pm

We need a Mr. Robot-esq attack on the credit institutions.

crownjd

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Re: so has anyone successfully gotten their loans forgiven yet or what?

Postby crownjd » Wed Nov 01, 2017 2:55 pm

anyriotgirl wrote:or is everyone gonna get rekt like this guy in one way or another

https://www.nytimes.com/2017/10/27/your ... ments.html


Shoutout to your avi. Joanne Prada is life.

ur_hero

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Re: so has anyone successfully gotten their loans forgiven yet or what?

Postby ur_hero » Wed Nov 01, 2017 3:31 pm

Doesn't this take like 20+ years of payments?

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A. Nony Mouse

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Re: so has anyone successfully gotten their loans forgiven yet or what?

Postby A. Nony Mouse » Wed Nov 01, 2017 3:36 pm

PSLF is 10 years. This fall is the earliest anyone could get the debt forgiven.

(And while I’m probably going to get my own PSLF screwed up as karmic revenge for saying this, the materials about PSLF are SUPER clear that you have to be on an income-based plan, not graduated, and it seems you should know what plan you’re on. Though still super shady for the loan provider to be able to rely on that when the guy tried repeatedly to make sure his payments qualified and wasn’t told otherwise.)

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Desert Fox

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Re: so has anyone successfully gotten their loans forgiven yet or what?

Postby Desert Fox » Wed Nov 01, 2017 3:43 pm

My brother got his forgiven, but it took quadriplegia to do it.
Last edited by Desert Fox on Fri Jan 26, 2018 11:52 pm, edited 1 time in total.

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anyriotgirl

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Re: so has anyone successfully gotten their loans forgiven yet or what?

Postby anyriotgirl » Wed Nov 01, 2017 5:22 pm

A. Nony Mouse wrote:PSLF is 10 years. This fall is the earliest anyone could get the debt forgiven.

(And while I’m probably going to get my own PSLF screwed up as karmic revenge for saying this, the materials about PSLF are SUPER clear that you have to be on an income-based plan, not graduated, and it seems you should know what plan you’re on. Though still super shady for the loan provider to be able to rely on that when the guy tried repeatedly to make sure his payments qualified and wasn’t told otherwise.)


I know I wanna know if anyone in the first batch of people got their paperwork approved and balance discharged
Last edited by anyriotgirl on Sat Jan 27, 2018 12:24 am, edited 1 time in total.

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A. Nony Mouse

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Re: so has anyone successfully gotten their loans forgiven yet or what?

Postby A. Nony Mouse » Wed Nov 01, 2017 5:32 pm

I definitely want to know too! I think people would be submitting the paperwork right about now so I’m not sure when the process will be complete.

Frankly it wouldn’t surprise me if the DOE doesn’t know yet either.

Thesaurus

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Re: so has anyone successfully gotten their loans forgiven yet or what?

Postby Thesaurus » Wed Nov 01, 2017 5:35 pm

WHat did ppl do before PSLF?

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MKC

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Re: so has anyone successfully gotten their loans forgiven yet or what?

Postby MKC » Wed Nov 01, 2017 5:38 pm

Thesaurus wrote:WHat did ppl do before PSLF?


Keep paying forever as their loan balance increased faster than they could pay it down.

I know someone that still owes the same $80,000 they owed 15 years ago.
Last edited by MKC on Sat Jan 27, 2018 1:18 pm, edited 4 times in total.

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PeanutsNJam

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Re: so has anyone successfully gotten their loans forgiven yet or what?

Postby PeanutsNJam » Wed Nov 01, 2017 9:34 pm

MarkinKansasCity wrote:
Thesaurus wrote:WHat did ppl do before PSLF?


Keep paying forever as their loan balance increased faster than they could pay it down.

I know someone that still owes the same $80,000 they owed 15 years ago.


Or successfully paid off their loans because school was way cheaper even 10 years ago.

1styearlateral

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Re: so has anyone successfully gotten their loans forgiven yet or what?

Postby 1styearlateral » Thu Nov 02, 2017 12:14 pm

I understand these are all for public service, but I'm wondering what it's going to look like after 25-30 years when people don't pay off the entire balance of the loan. It is my understanding that the loan is forgiven.

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A. Nony Mouse

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Re: so has anyone successfully gotten their loans forgiven yet or what?

Postby A. Nony Mouse » Thu Nov 02, 2017 12:28 pm

Yes, but the amount you’re forgiven will count as taxable income for that year.

1styearlateral

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Re: so has anyone successfully gotten their loans forgiven yet or what?

Postby 1styearlateral » Thu Nov 02, 2017 2:20 pm

A. Nony Mouse wrote:Yes, but the amount you’re forgiven will count as taxable income for that year.

Yeah, I understand that. I guess I'm interested in seeing how severe the backlash will be in a real world example.

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boredtodeath

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Re: so has anyone successfully gotten their loans forgiven yet or what?

Postby boredtodeath » Thu Nov 02, 2017 2:46 pm

A. Nony Mouse wrote:Yes, but the amount you’re forgiven will count as taxable income for that year.


Not under PSLF.

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Re: so has anyone successfully gotten their loans forgiven yet or what?

Postby Nebby » Thu Nov 02, 2017 2:50 pm

boredtodeath wrote:
A. Nony Mouse wrote:Yes, but the amount you’re forgiven will count as taxable income for that year.


Not under PSLF.

Yes, but was Nony talking about PSLF? No.

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boredtodeath

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Re: so has anyone successfully gotten their loans forgiven yet or what?

Postby boredtodeath » Thu Nov 02, 2017 2:53 pm

Nebby wrote:
boredtodeath wrote:
A. Nony Mouse wrote:Yes, but the amount you’re forgiven will count as taxable income for that year.


Not under PSLF.

Yes, but was Nony talking about PSLF? No.


I read 1styearlateral's post to be asking what the public backlash is going to look like after a decade of people getting massive debt forgiven under PSLF. If s/he was talking about what the backlash will be when RE/PAYE kicks in, OK.

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A. Nony Mouse

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Re: so has anyone successfully gotten their loans forgiven yet or what?

Postby A. Nony Mouse » Thu Nov 02, 2017 4:02 pm

Yeah, I understood this
1styearlateral wrote:I understand these are all for public service, but I'm wondering what it's going to look like after 25-30 years when people don't pay off the entire balance of the loan. It is my understanding that the loan is forgiven.

to be talking about PAYE/REPAYE as distinct from public service.

Also I understood backlash to mean tax consequences, not public opinion.

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anyriotgirl

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Re: so has anyone successfully gotten their loans forgiven yet or what?

Postby anyriotgirl » Sun Nov 19, 2017 12:54 pm

bump I still wanna know
Last edited by anyriotgirl on Sat Jan 27, 2018 12:23 am, edited 1 time in total.

Nebby

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Re: so has anyone successfully gotten their loans forgiven yet or what?

Postby Nebby » Mon Nov 20, 2017 10:43 am

anyriotgirl wrote:bump I still wanna know

Still too early. I don't think the majority will become eligible to apply until December

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anyriotgirl

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Re: so has anyone successfully gotten their loans forgiven yet or what?

Postby anyriotgirl » Wed Dec 20, 2017 3:36 pm

anyriotgirl wrote:bump I still wanna know
Last edited by anyriotgirl on Sat Jan 27, 2018 12:21 am, edited 1 time in total.

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barrelofmonkeys

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Re: so has anyone successfully gotten their loans forgiven yet or what?

Postby barrelofmonkeys » Wed Dec 20, 2017 3:43 pm

anyriotgirl wrote:
anyriotgirl wrote:bump I still wanna know


Supposing that 10 years ago, things looked pretty similar to how they do now w/r/t grace (i.e., my first payment won't be until January), 120 on-time payments haven't happened yet for people.
Bump again January 20 :D

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A. Nony Mouse

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Re: so has anyone successfully gotten their loans forgiven yet or what?

Postby A. Nony Mouse » Wed Dec 20, 2017 3:47 pm

My first payment was November. That said, I have no idea how long it’s going to take to process any of this.

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Re: so has anyone successfully gotten their loans forgiven yet or what?

Postby Nebby » Wed Dec 20, 2017 4:42 pm

A. Nony Mouse wrote:My first payment was November. That said, I have no idea how long it’s going to take to process any of this.

Was the first payment due in November or did you get your first bill in November? Unless you graduated before May, the first due date should have been December. Six months after May is November, which is when you're billed, and it was due in Dec.

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A. Nony Mouse

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Re: so has anyone successfully gotten their loans forgiven yet or what?

Postby A. Nony Mouse » Wed Dec 20, 2017 5:28 pm

Nebby wrote:
A. Nony Mouse wrote:My first payment was November. That said, I have no idea how long it’s going to take to process any of this.

Was the first payment due in November or did you get your first bill in November? Unless you graduated before May, the first due date should have been December. Six months after May is November, which is when you're billed, and it was due in Dec.

You’re probably right, I don’t remember at this point except that it was before January.

But if the January person was unfortunate enough to be on a quarter system and graduate in June that probably explains the discrepancy.



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