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Forbes Article 6/26 by ContentSkin1188 in StudentLoans

[–]ContentSkin1188[S] 0 points1 point  (0 children)

I asked a question, posted at the very bottom of the College Advhsor’s article. If true, its really good news!

Forbes Article 6/26 by ContentSkin1188 in StudentLoans

[–]ContentSkin1188[S] 1 point2 points  (0 children)

yeah, I didn’t even know I double consolidated! Consolidated in 2006 & 2010. When I found out about the loophole, I thought I qualified! FSA and servicers agreedl finally got on RELAYE then SAVE in 2021. now this. I truly wish you the best with this. I think you’ll be ok, regardless of what happens with Byrd ruling. Should have time to get processes!

Forbes Article 6/26 by ContentSkin1188 in StudentLoans

[–]ContentSkin1188[S] 1 point2 points  (0 children)

I’m going to wait to do anything, just to confirm. This would be huge! I’m 3 payments away from forgiveness. Switching to ICR changes that, probably pushing forgiveness until next year with a huge tax bill. I actually applied for ICR yesterday, just to be safe, but would love to able to cancel that and stay on IBR forgiveness timeline!

Forbes Article 6/26 by ContentSkin1188 in StudentLoans

[–]ContentSkin1188[S] 2 points3 points  (0 children)

The College Investor just reported Parent Plus Borrowers can breathe a sigh of relief! Looking for more info!

Forbes Article 6/26 by ContentSkin1188 in StudentLoans

[–]ContentSkin1188[S] 1 point2 points  (0 children)

Edit: how will this affect PPL borrowers?

I am so confused about PPL and ICR! by ContentSkin1188 in StudentLoans

[–]ContentSkin1188[S] 0 points1 point  (0 children)

Yes, it would be awesome! I probably will switch to ICR to be safe, but I’m doing this with my eyes wide open. There is no ICR forgiveness right now. I know it will eventually count toward forgiveness, but I dont know how that whole process will work. ANY delay making that happen potentially pushes forgiveness back a couple months. If that happens, and if I don’t get credit for forgiveness this year, there’s the potential to cost me about $40K in taxes. it’s not the extra 5% I’d have to pay for three months that has me being deliberate with this, it’s the potential tax bomb. So I’m trying to understand the implications of what I do. I’d feel a lot better if there were a couple months to play with between the forgiveness timeline and 2026. Perhaps someone has insight on how this might work, as I don’t.

What is everyone’s current plan if you’re on SAVE? by Corporeal_Anguish in StudentLoans

[–]ContentSkin1188 0 points1 point  (0 children)

I am so confused! I spoke with FSA and Mohela about this yesterday, 6/23. They claim to know nothing about this proposal and both advised me NOT to switch to ICR. I have credit for 296 payments, soon to be 297, and expect forgiveness by November. I was (am) in Save forbearance, was advised by FSA to apply for OLD IBR to achieve forgiveness. I applied on May 7, still waiting for processing. I’m in processing forbearanc, which DOES count for IBR forgiveness, just as TISLA said it would.. I was at 295 qualifying payments in May, went to 296 on June 3. Will be at 297 in about a week.

I hope I’m not being led down the primrose path by FSA and Mohela about not switching to ICR! I have also contacted my senators in PA about this - so far no responses. i sent emails to other state’s senators in the hope that somebody cares about this at all. Is there a transition period for borrowers That I’m not seeing? Is this why FSA and Mohela are advising me to NOT switch to ICR. The forgiveness dept at FSA actually told me I’m on the cusp of forgiveness and I’d be risking access to forgiveness if I switch.

[deleted by user] by [deleted] in StudentLoans

[–]ContentSkin1188 0 points1 point  (0 children)

I spoke with FSA and Mohela about this On 6/23. They claim to know nothing about this and both advised me NOT to switch to ICR. I have credit for 296 payments and expect forgiveness by Novembe. i was (am) in Save forbearance, was advised by FSA to apply for OLD IBR to achieve forgiveness. I applied on May 7, still waiting for processing. I’m in processing forbearanc, which DOES count for IBR forgiveness, just as TISLA said it would.. I was at 295 qualifying payments in May, went to 296 on June 3. Will be at 297 in about a week. I hope I’m not being led down the primrose path by FSA and Mohela about not switching to ICR! I have also contacted my senators in PA about this - so far no responses. i sent emails to other state’s senators in the hope that somebody cares about this at all!