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

Posted: Tue Oct 31, 2017 10:52 pm
by anyriotgirl
or is everyone gonna get rekt like this guy in one way or another

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

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

Posted: Wed Nov 01, 2017 12:01 pm
by 1styearlateral
We need a Mr. Robot-esq attack on the credit institutions.

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

Posted: Wed Nov 01, 2017 2:55 pm
by crownjd
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.

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

Posted: Wed Nov 01, 2017 3:31 pm
by ur_hero
Doesn't this take like 20+ years of payments?

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

Posted: Wed Nov 01, 2017 3:36 pm
by A. Nony Mouse
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.)

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

Posted: Wed Nov 01, 2017 3:43 pm
by Desert Fox
My brother got his forgiven, but it took quadriplegia to do it.

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

Posted: Wed Nov 01, 2017 5:22 pm
by anyriotgirl
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

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

Posted: Wed Nov 01, 2017 5:32 pm
by A. Nony Mouse
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.

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

Posted: Wed Nov 01, 2017 5:35 pm
by Thesaurus
WHat did ppl do before PSLF?

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

Posted: Wed Nov 01, 2017 5:38 pm
by MKC
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.

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

Posted: Wed Nov 01, 2017 9:34 pm
by PeanutsNJam
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.

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

Posted: Thu Nov 02, 2017 12:14 pm
by 1styearlateral
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.

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

Posted: Thu Nov 02, 2017 12:28 pm
by A. Nony Mouse
Yes, but the amount you’re forgiven will count as taxable income for that year.

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

Posted: Thu Nov 02, 2017 2:20 pm
by 1styearlateral
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.

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

Posted: Thu Nov 02, 2017 2:46 pm
by boredtodeath
A. Nony Mouse wrote:Yes, but the amount you’re forgiven will count as taxable income for that year.


Not under PSLF.

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

Posted: Thu Nov 02, 2017 2:50 pm
by Nebby
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.

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

Posted: Thu Nov 02, 2017 2:53 pm
by boredtodeath
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.

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

Posted: Thu Nov 02, 2017 4:02 pm
by A. Nony Mouse
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.

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

Posted: Sun Nov 19, 2017 12:54 pm
by anyriotgirl
bump I still wanna know

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

Posted: Mon Nov 20, 2017 10:43 am
by Nebby
anyriotgirl wrote:bump I still wanna know

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

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

Posted: Wed Dec 20, 2017 3:36 pm
by anyriotgirl
anyriotgirl wrote:bump I still wanna know

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

Posted: Wed Dec 20, 2017 3:43 pm
by barrelofmonkeys
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

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

Posted: Wed Dec 20, 2017 3:47 pm
by A. Nony Mouse
My first payment was November. That said, I have no idea how long it’s going to take to process any of this.

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

Posted: Wed Dec 20, 2017 4:42 pm
by Nebby
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.

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

Posted: Wed Dec 20, 2017 5:28 pm
by A. Nony Mouse
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.