But 10% of zero is zero, and stay at home moms earn zero.
I’m not sure if this changed anything, but up until a week ago the income repayment went by the total income, including your spouse’s. So a stay at home mom who makes 0 still has to include all the money that her husband makes, she doesn’t get to say that she’s making no money. There are ways to cheat around it but who knows if they’ll be accepted by the feds in 10-20 years when it comes time to get the rest of the loan wiped out.
I paid off my student loans rather than deal with trusting the feds to “forgive” the rest of a loan balance that has been ballooning with interest for 10-20 years... They have no guidelines in place to say what you’ll need to show, etc., to get the loans forgiven. IMO this is all something that politicians are promising now, and letting future generations worry about when the time comes. When the time comes, there will be a way for the feds to weasel out of loan forgiveness for many people. That’s my hunch.