IBR for JAG reserves while working private sector?

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Tsispilos

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IBR for JAG reserves while working private sector?

Postby Tsispilos » Fri May 06, 2011 10:21 am

I'm considering working in the Army Reserves JAG on the weekends while working at my law firm (my firm is cool with this--I talked to them). Anybody know whether doing this would make me eligible for the 10-year IBR plan?

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joemoviebuff

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Re: IBR for JAG reserves while working private sector?

Postby joemoviebuff » Fri May 06, 2011 10:25 am

No, unless you're working 30 hours a week there.

http://ibrinfo.org/what.vp.html#pslf
To count, these payments must be made while you're working full-time in an eligible job. "Full-time," according to the final regulations issued by the Department of Education, means an annual average of 30 hours per week or the standard for full-time used by the employer, whichever is greater. For people working part-time at two or more qualifying jobs, "full-time" means an annual average of 30 hours across all jobs held. In professions such as teaching, annual contracts that include at least eight months of full-time work will be treated as the equivalent of a full year's employment. If you meet all the criteria, the earliest your remaining debt could be forgiven is October 2017.



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