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Started By
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How hard is it to start and manage a non profit?
Posted on 2/13/14 at 12:19 am
Posted on 2/13/14 at 12:19 am
(no message)
This post was edited on 3/16/14 at 2:45 pm
5
Posted on 2/13/14 at 9:07 am to bwm14
So you want to start a non profit and pay yourself and ALSO get be forgiven of $100k in student loan debt?
Give us the bottom line about the public service loan forgiveness program.
DO you really feel good about screwing the government out of your student loan? You do realize that we all pay taxes that supports the program that you are trying to screw over.
What is your non profit going to do? Man, I may be way off on what you are trying to do, but if I am right, you are a bad person.
That being said, just file the paperwork with the IRS and BE SURE to explain it is a simple Conservative Republican/Libertarian organization that wants to do service to the Constitution.
Give us the bottom line about the public service loan forgiveness program.
DO you really feel good about screwing the government out of your student loan? You do realize that we all pay taxes that supports the program that you are trying to screw over.
What is your non profit going to do? Man, I may be way off on what you are trying to do, but if I am right, you are a bad person.
That being said, just file the paperwork with the IRS and BE SURE to explain it is a simple Conservative Republican/Libertarian organization that wants to do service to the Constitution.
Posted on 2/13/14 at 10:15 am to GeeOH
(no message)
This post was edited on 3/16/14 at 2:47 pm
Posted on 2/13/14 at 10:49 am to bwm14
non-profit is an easy way to become rich as frick and people think you are such a wonderful person.
Posted on 2/13/14 at 11:15 am to bwm14
quote:
The conversation started when my wife and I were talking on our anniversary about how blessed we were and wanting to give back more. It so happened that my student loan statement came in and I realized I will pay $10,000 in interest this year to the federal government and not even touch the principal amount. After doing that for 25 years the loan would go away, but I would then have to pay to the federal government a tax based on what was left over.
I started thinking about how much more beneficial it would be to others to be able to give that $10,000 a year to worthy causes instead of the federal government and saw a program where they will forgive your loan if you work for a nonprofit for 10 years.
Basically I am looking at paying in excess of $125,000 to the federal government over a 10 year period which is more than what my loans were for, and freeing up my ability to use the money I would be paying in interest to the government to give back to other charities.
Trust me, I looked at it and the perception from the outside and I can see where you are coming from, but I am a good person and just believe there are better ways to use the money than paying the federal government over $300,000 dollars.
The government gave you a loan so you could better yourself, and you have...now you don't want to pay it back because you are done with school. You can save money by paying it back quicker. AND you can still do charity work on the side. The national debt is full of people like you (or your thoughts) that find a way to scam out of debt.
Our government is NOT smart and they give "relief" in many situations that they should not.
Pay your loan and also work for a non profit.
And LOL at the notion you would give ALL of your savings to a charity. This is for personal gain only. You and your wife should be ashamed unless you are seriously going to give the entire 300k to charities!
Just please remember, without the government holding up its end of the deal, you wouldn't have made it thru college. You know you could have worked your way thru yourself. Pay your debt
Posted on 2/13/14 at 11:26 am to GeeOH
The IRS is in after-burner mode in their oversight of non-profits.
Coincidently, they have also hired untold numbers of auditors in the past couple of years.
That's about all you need to know.
Coincidently, they have also hired untold numbers of auditors in the past couple of years.
That's about all you need to know.
Posted on 2/13/14 at 11:30 am to bwm14
This didn't go how the OP expected.
Posted on 2/13/14 at 12:49 pm to bwm14
Outside of the moral gray area you are stepping into, I don't see how working an extra 30 hours a for 10 years is worth it. If you already make 6 figures at another job why don't you just hunker down there and maybe take a side gig for ~10hrs per week to help you pay off the debt.
It was your choice to take out the loan, you should have to live with the consequences. Just because you think you pay your "fair share" doesn't mean everyone should be fronting the bill for your debt.
It was your choice to take out the loan, you should have to live with the consequences. Just because you think you pay your "fair share" doesn't mean everyone should be fronting the bill for your debt.
Posted on 2/13/14 at 1:08 pm to bwm14
Just wondering how much will be written off at the end of 10 years. You still have to make 10 years worth of on time payments. So how much are you saving?
Posted on 2/13/14 at 1:17 pm to Chris Farley
quote:
Outside of the moral gray area you are stepping into, I don't see how working an extra 30 hours a for 10 years is worth it. If you already make 6 figures at another job why don't you just hunker down there and maybe take a side gig for ~10hrs per week to help you pay off the debt.
It was your choice to take out the loan, you should have to live with the consequences. Just because you think you pay your "fair share" doesn't mean everyone should be fronting the bill for your debt.
Meh, while we could argue if loans should be forgiven after 10 years of public service, it is actually morally imperative that he does whatever he can to get rid of his debt to support his wife and family. It isn't his fault the government put that term in the contract for the loan forgiveness if he chooses to exercise it.
For example, I'm against many of the government entitlements that exist, but a person who doesn't take advantage of them to improve their station in life is a moron.
I'm against student loan forgiveness, but if the government decides they want to change the contract terms unilaterally to offer it to me, you god damn right I'm taking it. And I'm not a bad person for exercising that contract term either.
My moral responsibilities are to my wife and future family, not the state.
This post was edited on 2/13/14 at 1:20 pm
Posted on 2/13/14 at 1:27 pm to GeeOH
quote:
You know you could have worked your way thru yourself. Pay your debt
Not all states have a lottery program to pay tuition. Please point me in the direction of how one could go to a prestigious college and pay 20k+ tuition every year and work enough hours to pay that off while still staying on top of studies.
That said, OP should quit trying to scam out of his loan and fricking pay it off in full.
Posted on 2/13/14 at 11:00 pm to Moustache
(no message)
This post was edited on 3/16/14 at 2:48 pm
Posted on 2/14/14 at 7:28 am to bwm14
quote:
When I look at the big picture, I am bettering myself, helping others
But you are helping others with the sole intent of helping yourself.
Here is one of my favorite quotes from Jack London and I feel like it rings true in your situation:
quote:
A bone to the dog is not charity. Charity is the bone shared with the dog when you are just as hungry as the dog.
Posted on 2/14/14 at 3:11 pm to Moustache
quote:
Not all states have a lottery program to pay tuition. Please point me in the direction of how one could go to a prestigious college and pay 20k+ tuition every year and work enough hours to pay that off while still staying on top of studies.
Not sure of his major or what "prestigeous" university he attended. EIther way, he could have worked a little and easily made $10k and cut his loans in half, or have you forgotten there are 3 months every summer he could work full time?
Plenty of hard workers make it thru college by working!
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