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

(On Campus Interviews, Summer Associate positions, Firm Reviews, Tips, ...)
Forum rules
Anonymous Posting

Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.

Failure to follow these rules will get you outed, warned, or banned.
User avatar
anyriotgirl
Posts: 8315
Joined: Wed Dec 18, 2013 11:54 am

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

1styearlateral
Posts: 697
Joined: Wed Mar 30, 2016 3:55 pm

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
Posts: 16
Joined: Mon Mar 11, 2013 5:39 pm

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
Posts: 192
Joined: Sat Nov 19, 2016 6:52 pm

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?

User avatar
A. Nony Mouse
Posts: 28722
Joined: Tue Sep 25, 2012 11:51 am

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.)

User avatar
Desert Fox
Progressively loosing literacy
Posts: 17962
Joined: Thu Sep 04, 2014 4:34 pm

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.

User avatar
anyriotgirl
Posts: 8315
Joined: Wed Dec 18, 2013 11:54 am

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

User avatar
A. Nony Mouse
Posts: 28722
Joined: Tue Sep 25, 2012 11:51 am

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.

User avatar
Thesaurus
Posts: 623
Joined: Fri Aug 18, 2017 8:49 am

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?

User avatar
MarkinKansasCity
#MAGA
Posts: 16035
Joined: Thu Jun 14, 2012 10:18 am

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

Postby MarkinKansasCity » 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.

User avatar
PeanutsNJam
Posts: 4506
Joined: Tue Jul 10, 2012 1:57 pm

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
Posts: 697
Joined: Wed Mar 30, 2016 3:55 pm

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.

User avatar
A. Nony Mouse
Posts: 28722
Joined: Tue Sep 25, 2012 11:51 am

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
Posts: 697
Joined: Wed Mar 30, 2016 3:55 pm

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.

User avatar
boredtodeath
Posts: 654
Joined: Tue May 08, 2012 3:37 pm

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.

User avatar
Nebby
amateur huffpo
Posts: 30483
Joined: Sat Feb 01, 2014 12:23 pm

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.

User avatar
boredtodeath
Posts: 654
Joined: Tue May 08, 2012 3:37 pm

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.

User avatar
A. Nony Mouse
Posts: 28722
Joined: Tue Sep 25, 2012 11:51 am

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.

User avatar
anyriotgirl
Posts: 8315
Joined: Wed Dec 18, 2013 11:54 am

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

User avatar
Nebby
amateur huffpo
Posts: 30483
Joined: Sat Feb 01, 2014 12:23 pm

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




Return to “Legal Employment”

Who is online

The online users are hidden on this forum.