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Posted: Sat Dec 08, 2012 9:49 am
by Myself
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Re: PAYE - anyone know anything?
Posted: Sat Dec 08, 2012 10:23 am
by 2014
If you have any loans that disbursed before Oct 1 2007 you are forever not eligible for it even if you pay them off. So for the majority of this site, except for those starting this year straight through, we can't take advantage.
I have one loan that disbursed in August 2007 for $1500. That loan could ultimately cost me 5 years and 5% of my income which makes me IR8
Re: PAYE - anyone know anything?
Posted: Sat Dec 08, 2012 11:31 am
by Citizen Genet
2014 wrote:If you have any loans that disbursed before Oct 1 2007 you are forever not eligible for it even if you pay them off. So for the majority of this site, except for those starting this year straight through, we can't take advantage.
I have one loan that disbursed in August 2007 for $1500. That loan could ultimately cost me 5 years and 5% of my income which makes me IR8
The one hitch to this, if I understand it correctly, is that if your loan was disbursed before Oct. 1, 2007 AND you paid it off BEFORE Oct. 1, 2007, you are still eligible. But that's a very narrow set of people.