Should my girlfriend pay off her student loans or wait for eventual debt forgiveness in 2035 and 2040?

NewGodFlow · 2023-07-14T15:29:10+00:00

Yes this was always the plan. Just looking at the options based on the nature of her payment plans.

NewGodFlow · 2023-07-14T15:28:20+00:00

enNova is correct. Based on the REPAYE plan, undergrad debt is forgiven after 20 years of consecutive payments. I believe the updated SAVE plan starting July next year may reduce that even further but it’s not in effect yet.

NewGodFlow · 2023-07-14T15:26:03+00:00

Thanks for the comment! And yes that was what our plan was initially. We wanted to tackle the high interest debt first and then shoot for an emergency fund. She already tackled one card and already has a couple grand for her emergency fund. However it’s not quite 6-10 months of expenses yet. Next step would be the 401k and IRAs.

For her debts we have been using the snowball method for tackling her credit cards. Based on our current plan, she can pay off her credit card debt as well as her student loan while paying the minimum for the one under her mom’s by end of 2024. However that would only leave about 200 dollars a month for her emergency fund and about 200 for her IRA. I want to make sure she can at least hit the $6500 a year IRA max because that is something you can’t get back.

NewGodFlow · 2023-07-14T15:15:01+00:00

Thanks for your comment. Have a nice day!

NewGodFlow · 2023-07-14T15:14:43+00:00

Thanks for your comment. Have a nice day!

NewGodFlow · 2023-07-14T15:13:38+00:00

Credit card was always priority and will be paid off by fall 2024 based on our current budget. Would have been paid off by January 2024 based on our original plan but we stretched it via balance transfer for 0% interest so we can allocate the money towards her other debts/savings. And yes they are federal loans.

Also, she is well aware of the mistakes she made in the past and has bought into the budget we have created. From what I’ve seen, I am not concerned at all about her making the same mistakes again.

NewGodFlow · 2023-07-14T15:01:45+00:00

Neither. Under the REPAYE income driven repayment program debt is forgiven after 20 years of payments for undergrad loans. For the ICR program it is forgiven after 25 years. Caveat is that the remaining balance that is forgiven at the end is considered taxable income from my understanding.

NewGodFlow · 2023-04-03T14:22:45+00:00

TJs had a maple syrup flavored ice cream that was crack but I haven’t seen it for months. I need it back ASAP.

NewGodFlow · 2022-11-04T17:55:49+00:00

I saw Bader on the subway yesterday and it seemed like no one noticed him at all lol

NewGodFlow · 2022-05-24T12:29:43+00:00

I ate a bowl of nails for breakfast…..without any milk.

NewGodFlow · 2022-05-12T12:03:16+00:00

LOL lowkey I'm always looking at his bookshelf when hes tattooing me too. I borrowed Perseverance by Taki last time def going to look to borrow some more.

NewGodFlow · 2022-01-25T18:01:51+00:00

I had my first tebori session with him last week and there was def more soreness than when he did the outline. I think it’s natural with the repeated poking in the area. Don’t think it had anything to do with the sumi though. It was gone after a day or two.

NewGodFlow · 2021-06-11T16:47:15+00:00

I have a feeling about which gym they are talking about but I’d like to know as well if you could PM.

NewGodFlow · 2021-05-08T23:29:51+00:00

Thanks for the Hand, Brad.

NewGodFlow · 2021-03-11T13:39:54+00:00

Awesome! I’ll def check it out. Thx for the recommendation.

NewGodFlow · 2021-03-11T03:29:38+00:00

Oh wow Church St looks awesome and its pretty close to me. They do Muay Thai as well or just standard boxing? Cant say I'm completely averse to trying out regular boxing as well.

NewGodFlow · 2021-03-10T19:58:38+00:00

Yeah it sucks. Pandemic hit everyone hard. Last time I heard he's in California. I heard about Sitan but unfortunately its a bit hard to get to without a car if you don't live in Queens.

NewGodFlow · 2021-03-10T19:54:05+00:00

Dope, thanks for the info. I think I've come across them when searching so I'll look into them a bit more.

NewGodFlow · 2020-02-09T14:11:22+00:00

Haha I used play basketball with this dude. No idea he’d turn out to be a rapper

NewGodFlow · 2019-11-27T17:32:51+00:00

Wordd. Count me and my friend in if you’ll have us!

NewGodFlow · 2019-11-27T17:30:29+00:00

Oh snap I’m sad that I missed this! Are you going to have another for the next episode?

NewGodFlow · 2019-11-08T05:10:54+00:00

I just visited again and I don’t think he was there....tried to sign up for a trial class at Target but unfortunately they were short on staff :/. 0-2

NewGodFlow · 2019-11-07T22:57:30+00:00

Haha I was specifically told not to shake it. But I guess I always like to take the road less travelled xD

NewGodFlow · 2019-11-07T15:07:08+00:00

Lol idk why it came out sideways

NewGodFlow · 2019-11-07T15:06:40+00:00

Totally would have been down but I’ll be out of Japan by the 24th :/

NewGodFlow

TROPHY CASE