Posted on 01/27/2022 6:17:01 AM PST by grundle
Question: I’m 73 years old. I took out student loans in 1999 and consolidated in 2004. I have made only one late payment in the 17 years I’ve repaid. I worked full time at two public universities from graduation in 2001 to retirement 2014. After applying for loan forgiveness, I was notified that payments made before 2007 do not count. The payments I’ve made in retirement do not count. I have a $12,000 balance. This feels very unfair after 17 years of no missed payments and only one late payment. Do you have any advice?
Answer: “You can, seemingly, do everything right — work in public service and make your payments — and still not get forgiveness due to the red tape inherent in the system,” says Anna Helhoski, NerdWallet’s student loan expert. For those unfamiliar, the Public Service Loan Forgiveness (PSLF) program forgives the remaining balance on direct loans after 120 qualifying monthly payments have been made under a qualifying repayment plan — but even the Department of Education itself notes that this program has had flaws: “The Public Service Loan Forgiveness (PSLF) Program is an important — but largely unmet — promise to provide debt relief to support the teachers, nurses, firefighters, and others serving their communities through hard work that is essential to our country’s success,” it writes.
(Excerpt) Read more at marketwatch.com ...
No
Looks like he had a 13-year career, not enough time to repay.
If this person has reached this point in life with the employment it, they or whatever, claims to have had and can't pay off 12 grand, they did a LOT wrong.
I still owe 180k on my house. Never missed a payment. Can you help?
Should have studied finance instead of education.
Took out student loans at 56 yr old?
I’d be asking for a tuition refund.
To someone that stupid who worked in “education”, you must be guilty of malpractice.
Let’s go Brandon!
YOU GOT PUNKED.
My son graduated in 2019 with a degree in Supply Chain & Logistics. He got an entry level job in the field making less than $50K per year. He paid off his $12K student debt in 13 months.
Recently, he has been promoted, now earning in the mid 60s. He has saved $22K as well. He lives below his means.
He makes his Dad very proud.
i can help: pay off the debt you incurred and quit trying to freeload off the system.
Perfect analogy!
> Do you have any advice?
Pay back the money you borrowed?
Well done, dad.
You can easily make 12K in one year working a second job.
Apparently, none of the money he borrowed was used for finance and math.
Pay your bills, deadbeat...the rest of us do.
Ditto. Looks like she retired at 65. Should have worked until she paid it off. No sympathy from me.
Tell them you’re working with “blm” now and are automatically forgiven.
You must be making the minimal payments, you need to up your payments.
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