Home
What's new
Latest activity
Authors
Store
Latest reviews
Search products
Forums
New posts
Search forums
What's new
New posts
New listings
New products
New profile posts
Latest activity
Members
Current visitors
New profile posts
Search profile posts
Log in
Register
Cart
Cart
Loading…
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Search titles only
By:
Menu
Log in
Register
Navigation
Install the app
Install
More options
Change style
Contact us
Close Menu
Forums
SVTPerformance's Chain of Restaurants
Road Side Pub
Student Loans: Who's got em, and who thinks its a bubble
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="madscotsman" data-source="post: 16074012" data-attributes="member: 141027"><p>I WISH. I seriously doubt student loans will ever be forgiven as they are a lucrative source of income for the government. I've paid off more than 30K of my wife's loans and have hers down to a little over 2K now. Until the past few years, we haven't really made enough to put a dent in both of our loans, so after paying around 25K of mainly interest since 2001 on mine, I still owe around 50K. I Just applied for a PSLF (Public Service Loan Forgiveness) since I work for a non-profit health care organization (RN). If they decide I qualify, I'd have to be on an income contingent repayment plan and successfully make 120 payments (10 years), without missing or being late on any payments and after 10 years, my remaining balance would be forgiven (I've been on an income contingent plan for a few years now and it's possible I will get credit for the payments I've been making to shorten the 10 years, but i'm not getting my hopes up). I'll still pay more than I borrowed on this plan (my current payment is $625/mo and will only go up when I pay off my wife's loan, and each year as we make more money), but at least I'll stop getting fisted with interest after 10 more years, and my son wont be having to finally pay it off when I die. In three more years at my current payment, I will have paid back what I originally borrowed, so the next 7 years after that will basically be nothing but interest. If I could take the $$$ out of my 401K to pay it off right now, I would in a heartbeat. we're paying around 1K a month right now for our student loans, would be nice to be saving that money for my son's college so he doesn't have to fall into the same hole. We have a college savings for him, but always wish it was more.</p></blockquote><p></p>
[QUOTE="madscotsman, post: 16074012, member: 141027"] I WISH. I seriously doubt student loans will ever be forgiven as they are a lucrative source of income for the government. I've paid off more than 30K of my wife's loans and have hers down to a little over 2K now. Until the past few years, we haven't really made enough to put a dent in both of our loans, so after paying around 25K of mainly interest since 2001 on mine, I still owe around 50K. I Just applied for a PSLF (Public Service Loan Forgiveness) since I work for a non-profit health care organization (RN). If they decide I qualify, I'd have to be on an income contingent repayment plan and successfully make 120 payments (10 years), without missing or being late on any payments and after 10 years, my remaining balance would be forgiven (I've been on an income contingent plan for a few years now and it's possible I will get credit for the payments I've been making to shorten the 10 years, but i'm not getting my hopes up). I'll still pay more than I borrowed on this plan (my current payment is $625/mo and will only go up when I pay off my wife's loan, and each year as we make more money), but at least I'll stop getting fisted with interest after 10 more years, and my son wont be having to finally pay it off when I die. In three more years at my current payment, I will have paid back what I originally borrowed, so the next 7 years after that will basically be nothing but interest. If I could take the $$$ out of my 401K to pay it off right now, I would in a heartbeat. we're paying around 1K a month right now for our student loans, would be nice to be saving that money for my son's college so he doesn't have to fall into the same hole. We have a college savings for him, but always wish it was more. [/QUOTE]
Insert quotes…
Verification
Post reply
Forums
SVTPerformance's Chain of Restaurants
Road Side Pub
Student Loans: Who's got em, and who thinks its a bubble
Top