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Message
Student Loan Debt Forgviness
Posted on 4/21/15 at 9:09 am
Posted on 4/21/15 at 9:09 am
Sorry, I assume this has been discussed a good bit here, but I don't come around these parts much.
I didn't even know of this, but I have a trustworthy friend who mentioned something along the lines of if you've paid on student loans and have worked for a non-profit for 10+ years, your student loan can be forgiven. Does that sound right, or on the right track?
If so, what's the 1st step in the process, who do I contact to get thsi ball rolling?
ETA: Further reading shows it may not be going into effect until 2017, so is there anything to do now or just wait?
I didn't even know of this, but I have a trustworthy friend who mentioned something along the lines of if you've paid on student loans and have worked for a non-profit for 10+ years, your student loan can be forgiven. Does that sound right, or on the right track?
If so, what's the 1st step in the process, who do I contact to get thsi ball rolling?
ETA: Further reading shows it may not be going into effect until 2017, so is there anything to do now or just wait?
This post was edited on 4/21/15 at 9:21 am
3
Posted on 4/21/15 at 9:44 am to shel311
No, you can't have your friend in the HR Department of the Non-Profit fake W-2's and complete a written and/or verbal VOE to get your student loans magically wiped away.
(Sorry if serious)
(Sorry if serious)
Posted on 4/21/15 at 9:53 am to shel311
quote:
If so, what's the 1st step in the process, who do I contact to get thsi ball rolling?
Obama.
Seriously, I have no idea. That was a plan enacted or proposed several years ago. I don't know if it's 10 years as of the plan's beginning or if a retroactive period is allowed.
Just pulled this from this LINK
quote:
Public Service Loan Forgiveness
Payments made in the Direct Loan program in an IBR, ICR, or PAYE repayment count as qualifying payments for those who work in the public sector and would like to apply for public service loan forgiveness. In the public service loan forgiveness program, you may qualify for forgiveness after 10 years or 120 payments instead of the standard 20-25 year forgiveness. Unfortunately, many people are not aware that they must be in the Direct Loan program and in one of the correct repayment plans to qualify for this forgiveness. The public service loan forgiveness program is also quite often confused with the term Obama Student Loan Forgiveness.
I suspect some rough comments coming your way.
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