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I sent in pslf waiver forms over a month ago and have not heard back a single thing. Don’t know if they even received them. They’re saying up to 3 months processing time. I dunno how that’s gonna work if there are any erroneous denials due to employer verification or what not. Everything postmarked by oct 31 supposedly counts though.
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Oct 3, 2022 19:59
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Slugworth posted:Probably a profoundly dumb question, but are Great Lakes-serviced loans federal or private? I would like to not owe any money. federal, I’m almost certain. You can check by logging into your account at either greatlakes or studentaid.gov and seeing if the titles have “dept of education - greatlakes ” in them
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Oct 6, 2022 12:40
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You may need to consolidate to enter income driven repayment plans and for payments to qualify for pslf. It doesn’t have anything to do with the 10/20k loan forgiveness asfaik
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Nov 11, 2022 23:58
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I feel like on top of tanking your credit, if you file chapter 7 you'll end up with worse payments than in IDR, file chapter 11 and they're going to come take your stuff
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Nov 17, 2022 23:53
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Leon Trotsky 2012 posted:People with private loans won't be able to get IDR. And IDR doesn't start until June 2023. well you don't get private loans forgiven anyways. but also various IDR plans have been around for like a decade or more. I think you're talking about the new plan.
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Nov 18, 2022 00:18
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rally posted:No email here. My wife didn’t get it either. I feel like it isn’t happening anyway but I’d feel better being approved to slide in quickly if there’s a short window where they are discharging debt somehow. They appear to be coming in waves, I only got one a few minutes ago
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Nov 20, 2022 19:18
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i really wonder if all these payments im not making because the freeze has been for almost 3 years now are going to count towards my PSLF qualification. I still have not heard back from the PSLF waiver i sent in 4 months ago which should make these otherwise disqualified '$0' payments count. And my student loan service throws question marks whenever I ask them about this. and since I was supposed to make my first payment 2 months after the first payment freeze, I can't switch into any sort of IDR while my account is in administrative forbearance to force them to count it
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Nov 22, 2022 23:48
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asfaik everything in the TEPSLF only kicks in if you qualify for forgiveness before its over, as in its been allocated funds that will run out! By the time I have enough total years in service, TEPSLF will be long gone. edit: I know the studentgov page is trying to say, yes all administrative forbearance will count, I'm just not confident that's going to be the case through some weird loophole. And I don't want to be a complete downer here, but republicans have been chatting about completely eliminating PSLF entirely, so all this poo poo could be for nothing anyways What I'm trying to say, is, it's not exactly a situation that makes me think.. ok I definitely want to stay in a PSLF qualfying employer for 10 whole years when i have no faith it will be paid out ethanol fucked around with this message at 01:33 on Nov 23, 2022 |
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Nov 23, 2022 01:26
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Beefed Owl posted:When you do that make sure you negotiate because a lot of student loan places will happily take sometimes half just to have that big chunk of money and forgive the rest. Asfaik This really only works if you’re in collections and have so many insane fees you’re only negotiating to get back closer to your principle. Your original servicer will do everything in their power to make you pay them interest for 30 years
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Dec 1, 2022 14:33
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Leon Trotsky 2012 posted:SCOTUS agreed to take the student loan case and expedite a decision. They just want to kill it even faster now that Biden delayed payments again.
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Dec 1, 2022 22:12
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Mad Doctor Cthulhu posted:From the NY Times article (probably paywalled) on this: It’s 3 months after the courts resolve the case or if not completed by June, 3 more months after that. So Septemberish
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Dec 1, 2022 23:41
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The Cubelodyte posted:I don’t know how many of you are also eligible for PSLF, but I’m currently on something like day 110 out of 90 days for them to review/approve that application. it's been like 4-5 months for me, no response at all
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Dec 23, 2022 01:45
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Not as fun as getting money back but 5 months or so after submitting the pslf waiver forms and no word about it all they finally transferred my loans to mohela. ethanol fucked around with this message at 15:23 on Jan 5, 2023 |
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Jan 5, 2023 14:43
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Yes looking at their website I immediately began to wonder what kind of hell I just got myself into lol but there's no other options for PSLF tracking
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Jan 6, 2023 16:51
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There Bias Two posted:Is there any reason to *not* be on an IDR plan? It's not like you can't pay additional money sooner if you are able, right? may have to consolidate non direct loans to include them, that can potentially lead to increasing even so much as doubling your interest rate if not careful as all your loans including direct will be changed to a new interest rate if you pay on repaye for 25 years or so you can end up paying so much interest the amount being forgiven at the end is mostly interest having doubled the principal from taking so long to pay. and I don't mean capitalized interest which the government is now going to pay for you, I mean the amount interest you've paid over 10-20 years. that's just how loans work in general though. credit card companies are happiest when you fill up your credit balance and are essentially making payments only to cover interest and keep the balance as high as possible for as long as possible. like others are pointing out once if you started making repaye payments at say 50k a year salary but worked your way up to above 100k a year in less than 10 years, due to interest your loans will not have reduced very much but your discretionary income will be high enough can end up paying more per month than doing the standard 10 year plan. And in that case you get very little out of the plan, and probably nothing will be left to forgive. you can go onto student aid .gov and use their loan repayment simulator to see what the monthly payments change based on your income and loan balance to see for yourself most people cannot look forward and say 'i will be making way more money later' so it's basically impossible to actually plan this, most people are just better off on repaye
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Jul 7, 2023 20:10
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if you make enough that 10% of your discretionary income is more than your payments would have been on the standard 10 year plan, you probably aren't eligible for PAYE anyways. and will have to use repaye. i admit i don't know really understand what the benefits of paye are. mainly that your payments can never exceed the standard 10 year plan? but you would need to have something like 30-50k in loans and be making well over 100K a year to have your PAYE payments be more than paying the loan in 10 years of monthly payments. im also on pslf and I plan on paying a little per month as possible (5%) and have what is left forgiven. if I pay 10% of my income (relatively high income) the amount leftover to be forgiven in 7 years isn't going to be all that much. especially with pay raises and stuff. but my monthly payment on the 10 year plan is still substantially higher than using repaye (even at 10%), like 100% higher. it's a bit of a gamble to do this because more interest accrues, if I were to quit PSLF (or be denied for some reason) I would be in a worse position than continuing to pay more per month. Making a high income but with a lot of student loans my monthly payments on 10 years are still roughly double what I will pay on REPAYE until the 2024 discretionary income drop to 5%, the payments on paye or repaye are exactly the same for me and most borrowers I think in short, if 10% of your income minus the 225% (or whatever the number is whether you're married or not etc) of the poverty line exceeds your monthly payments on the standard 10 year plan or you expect you will make that much about halfway into your repaye plan, you're not going to see a lot of benefit out of these plans no matter how you do it because you'll be paying your loans off faster than 10 years. Most people are not in that scenario ethanol fucked around with this message at 00:01 on Jul 13, 2023 |
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Jul 12, 2023 23:47
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aniviron posted:I technically have enough to pay off my loans right now but I'm in a spot where it feels like it'd be really dumb to do anything but pay the minimum, given that loan forgiveness seems likely to continue being a relevant political wedge issue. Might gently caress myself in the longer term by not zeroing out now, but man would I feel dumb to pay thousands and then it turns out it was all forgiven a year later. I made a huge lump sum payment on my loans once, before I had any indication I would have a shot at PSLF, essentially that money is wasted if I get PSLF. I would maybe need to run the numbers on how much interest would have accrued in the meantime to know how much money I truly threw away if any. But 99% of PSLF applications used to be denied. So who could count on it? Can we now? I have no idea, they claim it is actually possible to use it now. With the one off 10k/20k thing I think there might be some sort of refund process in mind for payments made while it's being politically navigated. But not sure. I don't actually think the 10/20k is ever going to happen. ethanol fucked around with this message at 00:32 on Jul 13, 2023 |
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Jul 13, 2023 00:25
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is the automatic 3 month additional forbearance if you don't pay first month thing real
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Aug 26, 2023 00:15
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just in case people are thinking there is no change (and therefore no reason to apply) until the 10 to 5% discretionary cut next year, the already in effect bump in 150 to 225% of your agi in the calculation does make a sizable difference in your payment. then supposedly that will also get cut in half in summer '24 when the 10 to 5% discretionary income rule takes effect
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Aug 30, 2023 12:58
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Piggy Smalls posted:My friend said he had a big chunk of his student loan forgiven. Or at least got a letter stating that. I thought the powers that be said Biden couldn’t do that? Is this legit? this is because your friend probably has been paying for over 20 years, and payments that didn't used to count before certain IDR plans existed are now being counted, yes this is a biden change there is also a significant system failure for years to accurately track eligible payments or servicers to actually act on the forgiveness (many cases of people being outright ignored). this is also being redone ethanol fucked around with this message at 14:41 on Aug 30, 2023 |
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Aug 30, 2023 14:38
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| # ¿ May 22, 2024 16:54 |
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the pslf process is so archaic (requiring much attention) if you get approval that way you'll certainly know why
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Aug 30, 2023 14:42
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