|
A question about PSLF. I’ve been working for the federal government for the past 4 years but never bothered to apply for the program because I didn’t think I would be in public service for 10 years. My question is, do I need to apply to the program now or can I wait until I’m approaching 120 payments? In either case, would my 4 years of payments count? My 2 remaining loans are Stafford loans owned by the Department of Education.
Josh Lyman fucked around with this message at 19:57 on Mar 22, 2022 |
#
?
Mar 22, 2022 19:54
|
|
|
|
| # ? May 13, 2024 22:02 |
|
|
You can wait.. I did, and I eventually got forgiven. But I also wouldn't recommend it. My loans transferred a few times and payment data got lost along the way. I could have prevented that but also seen that paying more than the minimum was loving up my "on time" payment status for PSLF. I think I was 6yrs in to a public service job when I finally heard about PSLF and on the wrong payment plan so I figured it wouldn't ever matter at that point. Then TEPSLF came along for folks like me and I was scrambling to get accurate counts of payments then accurate status of on time payments.
|
|
#
?
Mar 22, 2022 20:01
|
|
|
Filled out my renewal FAFSA today. Unlike my initial FAFSA, it gave me the option to skip all of the asset questions - is this because my income dropped from 30k last year to 2.5k this year, as I focused on school full time? Or is it because this is a renewal? Skipping those questions brought my estimated contribution down from like 80k to like 4500, which means I might actually get something other than an unsubsidized loan, which would rule because I really don't want to touch stuff like retirement accounts to pay to go back to school, but I want to make sure I didn't accidentally do something heinous by skipping that.
|
|
#
?
Mar 23, 2022 16:20
|
|
|
Josh Lyman posted:A question about PSLF. I’ve been working for the federal government for the past 4 years but never bothered to apply for the program because I didn’t think I would be in public service for 10 years. My question is, do I need to apply to the program now or can I wait until I’m approaching 120 payments? In either case, would my 4 years of payments count? My 2 remaining loans are Stafford loans owned by the Department of Education. Loan servicers suck, so it's always a good idea to file for PSLF annually to make sure their count of your qualifying payments matches with your records. This way you're not trying to figure out 10 years worth of payment discrepancies at the end, which will likely take months or even years for them to fix. It's also helpful if you end up switching jobs, so you're not trying to contact prior employers to get them to fill out their part of the paperwork when you're no longer there. Your 4 years of payments should count if you were making payments on an IDR plan.
|
|
#
?
Mar 26, 2022 13:54
|
|
|
Officially completed the three year monitoring period for my TPD discharge! 
|
|
#
?
Apr 4, 2022 22:36
|
|
|
Pandemic deferment being extended through the end of August: https://www.cnn.com/2022/04/05/politics/student-loan-moratorium-extended/index.html
|
|
#
?
Apr 6, 2022 02:08
|
|
|
Just kicking that can ever further and further down the road without solving the problem. Sums up most American policy for the past... decades? Either way this is great news for me and the ~10k I still have in federal loans. Legit not even 100% sure who my servicer is anymore since it's changed so many times... pretty sure Aidvantage?
|
|
#
?
Apr 6, 2022 08:07
|
|
|
Is it worth it to take out maybe 20-30k in student loans, so I don't have to work retail while finishing up my Computer Science degree? I know that's a big question. I only work part time but that's still like 20% of my week and a huge amount of my energy for almost no pay and no benefit to me. I just worry about the economy crashing or something and me being buried into homelessness or something similarly horrible. Can't do internships this summer unfortunately either. Oolb fucked around with this message at 08:38 on Apr 6, 2022 |
|
#
?
Apr 6, 2022 08:35
|
|
|
Oolb posted:Is it worth it to take out maybe 20-30k in student loans, so I don't have to work retail while finishing up my Computer Science degree? God I wish I had worked while finishing my degree. Don't do the loans.
|
|
#
?
Apr 6, 2022 09:37
|
|
|
Wiggy Marie posted:Pandemic deferment being extended through the end of August: https://www.cnn.com/2022/04/05/politics/student-loan-moratorium-extended/index.html Good news for me, though it's annoying having to prepare to repay over and over. They're not going to restart repayments in August either. No loving way they do that three months prior to the midterm elections. 
|
|
#
?
Apr 6, 2022 12:06
|
|
|
Oolb posted:Is it worth it to take out maybe 20-30k in student loans, so I don't have to work retail while finishing up my Computer Science degree? I know that's a big question. I only work part time but that's still like 20% of my week and a huge amount of my energy for almost no pay and no benefit to me. Are these federal loans? If so, just FYI if you have no income, you don't pay the loans back until you do have income. And if your income is limited, your payment will be quite small. In terms of what is the better choice, theres no right or wrong answer. Would working a job lead you to doing worse in your classes? Would the job be related to your field and helpful in finding employment post graduation?
|
|
#
?
Apr 6, 2022 13:32
|
|
|
Oolb posted:Is it worth it to take out maybe 20-30k in student loans, so I don't have to work retail while finishing up my Computer Science degree? I know that's a big question. I only work part time but that's still like 20% of my week and a huge amount of my energy for almost no pay and no benefit to me. This is the student loan thread and I think you'll find the posts over the last dozen+ pages and last few years are going to be people struggling (either financially, or just mentally/emotionally) with paying back their loans. I know because I was one of them. I eventually had the remaining balance on my loans forgiven via PSLF which was a GODSEND but there was never actually a guarantee that was going to happen until maybe 8 years into repayment. Knowing what I know now, I would still have had to take out student loans while I was in school because I could not have afforded living otherwise, and I was working 3 part-time jobs for a while. If I had the ability to work one retail job and cover my expenses, I would never take out loans. Maybe consider finding another job that pays slightly better if you can, but don't chain yourself to student loans if you don't have to. They could negatively effect your life for potentially decades.
|
|
#
?
Apr 6, 2022 13:34
|
|
|
Oolb posted:Is it worth it to take out maybe 20-30k in student loans, so I don't have to work retail while finishing up my Computer Science degree? I know that's a big question. I only work part time but that's still like 20% of my week and a huge amount of my energy for almost no pay and no benefit to me. Good, in demand degree is a solid start. Where do you go to school? Can you get federal loans? I would take as little as possible but this is what I did my last year of school (i took about $9K in today's dollars). It allowed me to concentrate on school and on getting a job (fall off 2008). It is not a terrible idea. The career you have chosen is one where it can usually work out just fine.
|
|
#
?
Apr 6, 2022 13:43
|
|
|
Oolb posted:Is it worth it to take out maybe 20-30k in student loans, so I don't have to work retail while finishing up my Computer Science degree? I know that's a big question. I only work part time but that's still like 20% of my week and a huge amount of my energy for almost no pay and no benefit to me. I think you should take the loan if it's a federal loan that can be converted into income based repayment. I had about 35k gov't student loan and managed to pay it all back within a few years of graduating. My SO however has a mix of public and private loans and I can tell you DO NOT TAKE THE PRIVATE LOANS IF YOU CAN AVOID IT AT ALL. Not eligible for IBR, or PSLF and they have just made starting a family a nightmare. (E: It's not simply the fact that they were private loans, but also the sheer quantity of the loans my SO had to take out for 7 years of school)
|
|
#
?
Apr 6, 2022 14:00
|
|
|
Oolb posted:Is it worth it to take out maybe 20-30k in student loans, so I don't have to work retail while finishing up my Computer Science degree? I know that's a big question. I only work part time but that's still like 20% of my week and a huge amount of my energy for almost no pay and no benefit to me. Absolutely take federal loans; the interest rates are lagging behind inflation right now, and there’s always the small but real gambler upside of future federal relief or just being able to move into income based repayment or public service forgiveness if the job market does cool down. Absolutely do not, under any circumstance, take private loans.
|
|
#
?
Apr 6, 2022 15:28
|
|
|
If they're federal loans I would take them rather than work, personally. Exception if the job is going to help get you a job. I had loans and also worked in grad school but only because the job I had in grad school would be necessary to get me employment post degree.
|
|
#
?
Apr 6, 2022 21:35
|
|
|
nesbit37 posted:If they're federal loans I would take them rather than work, personally. Exception if the job is going to help get you a job. I had loans and also worked in grad school but only because the job I had in grad school would be necessary to get me employment post degree. Yeah. If the job is relevant career building, it’s worth doing anyway. But I would absolutely take a federal loan in those amounts, for a CS degree, rather it than cleaning aisles at a movie theatre or pouring lattes or being a grocery cashier or whatever other exhausting service sector labor is out there.
|
|
#
?
Apr 6, 2022 22:00
|
|
|
Anybody gone through the Direct loan consolidation process? My loans, FFEL, are currently administered under MOHELA. With the talk about loan forgiveness ramping up again, I looked at the consolidation process. On the Federal Aid site, when it imports my loans, it says they're all a 0% interest currently and then applies a 6.875% interest rate to the consolidated amount. Which is a whole heap of gently caress no. My actual interest rate is either .320% or 2.070% (there's several small loans and they're all either of those two specific amounts. Nothing inbetween). So my actual weighted interested should be something in there. Error on the site or is the current moratorium (which doesn't apply to my FFEL loans) affecting that value when it gets ingested into the federal aid site?
|
|
#
?
Apr 28, 2022 01:51
|
|
|
I'd say just an error. I helped a friend consolidate his today, and his consolidated interest rate was a weighted averaged of all of his loans. Got the notification that the loans I have with myfedloan are being transferred to mohelo soon, so fingers crossed nothing screws up in the process. I've already got print outs and screen grabs of my current amounts, payments, PSLF payment, etc.
|
|
#
?
Jun 21, 2022 23:16
|
|
|
I've been certifying for PSLF since 2016 and my loans just transferred to MOHELA from FedLoan and MOHELA website is saying that they have no records of PSLF progress for my account. A+
|
|
#
?
Jul 21, 2022 21:47
|
|
|
Fuuuuuuu Did you screen shot your fedloan stuff? I've been updating my screen shots each month just in case my transfer starts and I don't have access to it again. If you did, send it on to mohela and god speed.
|
|
#
?
Jul 21, 2022 22:31
|
|
|
Yeah I have copies of everything. A Facebook group said this is a known thing and MOHELA has said info will be available mid-August. What the gently caress.
|
|
#
?
Jul 21, 2022 22:40
|
|
|
The Slack Lagoon posted:Yeah I have copies of everything. A Facebook group said this is a known thing and MOHELA has said info will be available mid-August. What the gently caress. I'm sure you're fine. There is probably just a massive lag with all the info getting into the system ever since they moved to the Fedloan servicer.
|
|
#
?
Jul 21, 2022 23:17
|
|
|
BonoMan posted:I'm sure you're fine. There is probably just a massive lag with all the info getting into the system ever since they moved to the Fedloan servicer. This is what I assume too. A system transfer is a cluster on the back end, it takes time for everything to be sorted out.
|
|
#
?
Jul 22, 2022 03:46
|
|
|
What the heck is going on? Payments are supposedly due again next month but I haven’t heard a drat thing.
|
|
#
?
Aug 18, 2022 18:16
|
|
|
Yeah, the will he won't he on extending the pause is extremely exhausting
|
|
#
?
Aug 18, 2022 18:45
|
|
|
And, when pressed, the department head keeps saying "you will be informed." Buddy, it's less than two weeks. I have to give more time before I quit a loving job than you do deciding the fate of 100 million American's financial situations.
|
|
#
?
Aug 18, 2022 19:00
|
|
|
Looks like most recent rumors are an announcement tomorrow and a 4 month payment pause e: and 10k forgiveness
|
|
#
?
Aug 23, 2022 22:02
|
|
|
The Slack Lagoon posted:Looks like most recent rumors are an announcement tomorrow and a 4 month payment pause Got to pause through the midterms!
|
|
#
?
Aug 23, 2022 22:37
|
|
|
I'm assuming my Perkins Loans won't count for this forgiveness since they weren't covered by CARES and I should get a Direct Consolidation Loan for them to get them canceled out. I don't qualify for any of the Perkins Loan forgiveness stuff, or any PSLF, but my Direct and Perkins loans add up to $22k, and it would be idiotic to not get everything I can forgiven.
|
|
#
?
Aug 24, 2022 19:31
|
|
|
No idea how factual this is https://twitter.com/adamkelsey/status/1562499371152785409
|
|
#
?
Aug 25, 2022 03:32
|
|
|
I called in and got what I paid since March 13, 2020 refunded, though I guess I won't know for sure until I see it show up in my service's portal. From the D&D thread - Mecca-Benghazi posted:Called up my student loan servicer, Great Lakes, on hold for half an hour. I was armed with the amounts I wanted refunded (I paid ~1.1k since March 13, 2020, which is the cutoff), but when I got through, I said I wanted a refund of the money since the student loan deferrals started. The guy was like "sure, looks like it's these two payments, I was gonna ask if you wanted PSLF, but it's not worth it for this amount, and you want the refund for the 10k forgiveness?" (I didn't say a word about the forgiveness but I imagine they've been getting a lot of calls)
|
|
#
?
Aug 25, 2022 03:50
|
|
|
I got refunded for a couple payments in mid 2020 so I can confirm that it's true and has been a thing for a while. I wish there had been better messaging about it at the time since you aren't the first person I've seen asking about it tonight. Makes me worried about the end of the PSLF waiver period coming up and all the people who might miss out on it.
|
|
#
?
Aug 25, 2022 04:10
|
|
|
PolishPandaBear posted:I'm assuming my Perkins Loans won't count for this forgiveness since they weren't covered by CARES and I should get a Direct Consolidation Loan for them to get them canceled out. Will consolidated loans qualify if you consolidated after the July cutoff date? I had ffel loans I finished paying off in 2020, it would be a neat trick to try to get them refunded (which won't happen anyways), then consolidate , then get them wiped
|
|
#
?
Aug 25, 2022 13:29
|
|
|
Sirotan posted:Makes me worried about the end of the PSLF waiver period coming up and all the people who might miss out on it. I have been contacting everyone I went to school with who I still talk to sometimes, reminding them. It probably gets annoying, but paying for 15 more years when you could have been done in 10 is worse imo.
|
|
#
?
Aug 25, 2022 14:08
|
|
|
mastershakeman posted:Will consolidated loans qualify if you consolidated after the July cutoff date? I think the July cutoff date was for when you received the loans. I don't think it effects the consolidation. Or at least I loving hope not because that's what I'm doing. Consolidating my FFEL loans from 20 years ago this week.
|
|
#
?
Aug 25, 2022 14:09
|
|
|
More info. I was surprised to see PLUS loans were covered. https://twitter.com/Tech4Abolition/status/1562481256528769025
|
|
#
?
Aug 25, 2022 15:16
|
|
|
Sirotan posted:I got refunded for a couple payments in mid 2020 so I can confirm that it's true and has been a thing for a while. I wish there had been better messaging about it at the time since you aren't the first person I've seen asking about it tonight. Makes me worried about the end of the PSLF waiver period coming up and all the people who might miss out on it. Definitely make sure you take advantage of the waiver if you haven't already. Because of it I hit my 10 year limit for PSFL in January and my $70+K in debt was just gone. Its nice.
|
|
#
?
Aug 25, 2022 15:55
|
|
|
Does anyone who understands how the world works know if PLUS loan forgiveness will be based on the parent or the student's income? Also, do we know how they are determining if you make over $125? Is it just AGI from 2021 taxes or what?
|
|
#
?
Aug 25, 2022 15:58
|
|
|
|
| # ? May 13, 2024 22:02 |
|
|
mastershakeman posted:Will consolidated loans qualify if you consolidated after the July cutoff date? Do you mean this? https://www.reuters.com/markets/wealth/student-loans-obtained-after-june-30-not-eligible-relief-rice-2022-08-24/ Because if so, then gently caress me. I guess I should get on the phone with someone.
|
|
#
?
Aug 25, 2022 16:00
|
|