WSJ: Federal Plans That Forgive Student Debt Skyrocket Forum

[twenty]

I distinctly remember a couple folks on here/studentdoctor saying PAYE language was included in their MPNs.

[Nomo]

I distinctly remember a couple folks on here/studentdoctor saying PAYE language was included in their MPNs.

This is the language: A public service loan forgiveness program is also available. Under this program, the remaining balance due on your eligible Direct Loan Program loans may be cancelled after you have made 120 payments on those loans (after October 1, 2007) under certain repayment plans while you are employed in certain public service jobs.

This is the portion that people remain concerned about: "may be . . . under certain repayment plans."

It would be a lot better if it said "is . . . under IBR and PAYE." But, its definitely helpful. If the stuff if this Winstar stuff is all its cracked up to be then you've got a slam dunk.

Also, this language could be pulled from the MPN at any time. And even though you normally only have to sign one for all 3 years; if the gov. wants to make you sign an new and updated one before taking out loans next year or the year after they can do that.