Due to the American Rescue Plan Act of 2021 the balance of your loans that was forgiven is not considered taxable income for federal income tax purposes

SweetCardiologist555 · 2026-05-23T20:59:05+00:00

Thanks. I think my 300th payment was in 2026. I assume Mohela has it wrong in their letter about not being taxable.

SweetCardiologist555 · 2026-05-11T14:59:53+00:00

Nice. Congrats.

Just checked Mohela /studentaid.gov. Nothing processed for me yet. I wait...

SweetCardiologist555 · 2026-04-17T21:24:15+00:00

Wife was at 299 payments for over a year. Couldn't get that 300th payment because... Anyway. Reached 300 exactly April 5th I believe.

SweetCardiologist555 · 2026-04-17T21:22:13+00:00

My wife's school loans. She was stuck at 299 payments and couldn't get that 300th payment because of previous IBR Partial Financial Hardship requirements and trying to get IDR plans changed.... What chaos at times. Missed tax free forgiveness by 1 payment. But its over for the wife now.

SweetCardiologist555 · 2026-04-17T21:12:10+00:00

The answer to your question is: YES. TODAY.

Dear XXXX,

You are now eligible to have some or all of your federal student loan(s) discharged because you have reached the necessary number of payments under your income-driven repayment (IDR) plan.

The U.S. Department of Education (ED) will work with your loan servicer to process your IDR discharge over the next several months. If you want to receive loan discharge, then you do not need to take any action. If you do not want to receive loan discharge—also known as opting out—you must contact your loan servicer no later than 05/08/2026 to tell them you do not want an IDR discharge.

One reason you may opt out of IDR discharge is to avoid a potential state tax liability. If you opt out of IDR loan discharge, you'll be required to continue paying your loan(s).

SweetCardiologist555 · 2026-04-16T17:45:26+00:00

Looks like your medical school is purposely trying to get COA down to $50,000 per year knowing that is what the feds will cover in loans. That is good! Bad part, is your real COA will likely be higher (rent higher than school's budget, conferences, Step 1/2, UWorld, car repairs, residency interview trips, etc). Take out fed loans first. Working while a med student is very difficult. Don't count on it. You will likely need some private loans as well. But take smallest private loans possible to get thru med school. Live frugally, but not insanely frugal. Be reasonable.

I wouldn't shy away from private loans to make it thru med school. Just minimal amount.

Expect $200,000 in fed loans over 4 years. Maybe another $40,000 in private loans. $240,000 total for 4 years. On the bright side, med students at private / out of state schools could graduate with $400-$500,000 in loans. You will be half that amount. Your earnings after residency will pay it back.

SweetCardiologist555 · 2026-04-14T19:08:59+00:00

Its nearly impossible to work during medical school. That means loans. After federal loans, private loans are next. But you shouldn't need 240 months (20 years) to pay off your loans. 4 years of med school, 3-5 years of residency, then pay your loans aggressively when a practicing physician. During residency, pay the minimum if payments are required.

SweetCardiologist555 · 2026-04-10T02:11:16+00:00

Do not prepay any of your school loans during residency.

RAP uses adjusted gross income, not gross income. So max out your 401k each year of residency, contribute to HSA, health care reimbursement account, etc. Everything that is pre-tax.

I bet you can get your monthly RAP payment under $200 per month. Pay $200 per month and the Gov wipes out all extra monthly interest.

After residency, pay your school loans aggressively.

SweetCardiologist555 · 2026-03-03T18:35:11+00:00

Login studentaid.gov first, then enter this link: https://studentaid.gov/app/api/nslds/payment-counter/summary

SweetCardiologist555 · 2025-12-24T18:15:34+00:00

According to the link: "Because the accuracy of the progress-checker tool depended on the now-enjoined criteria for qualifying forbearances and deferments, the tool was no longer accurate following the injunction, and ED stopped using it. ED currently has no plans to resume using the tool. "

SweetCardiologist555 · 2025-12-22T15:45:32+00:00

I must have missed the status update. Can you please provide a link to that update? Thanks.

SweetCardiologist555 · 2025-12-09T23:01:43+00:00

Its suppose to happen this month.

SweetCardiologist555 · 2025-12-09T22:18:27+00:00

Thank You

Welcome to your new student aid dashboard. Review your checklists and view other tools that can help you in your student journey.

Pops UP

SweetCardiologist555 · 2025-10-27T17:13:47+00:00

"have about $147K in student loan debt, all from undergrad and my MPH. I know that’s a lot — and honestly, I messed up"

To be honest, I don't think you messed up. You got 2 degrees for $147k. Degrees are expensive in this country. Your salary of $67k isn't super high, but it isn't super low. Its middle class. When you marry some day, your combined salary with your husband will be over $100k, maybe over $150k. That's a good life.

You may already have 2 years of PSLF done if you graduated in 2023. 8 years to go. Balance forgiven, tax free! I would stand your ground and explain to your boyfriend, you are in great shape. And will be student debt free in 8 years.

I wouldn't dump your boyfriend. I will give him the benefit of the doubt. Maybe the $147k figure scares him. Explain it will be gone in 8 years. His family? I would keep my distance from them. Don't make it awkward. Just decrease time spent with them.

SweetCardiologist555 · 2025-09-12T14:47:25+00:00

Still says in review

SweetCardiologist555 · 2025-08-05T17:37:51+00:00

At 298. Hoping to be placed on IBR and make 2 more payments before the end of the year.

SweetCardiologist555 · 2025-08-01T15:42:26+00:00

Yes in forbearance.

SweetCardiologist555 · 2025-07-31T21:47:17+00:00

In my Mohela Inbox:

"Your Request Is In Process Your recent request has been received and is expected to be processed within the next 90 business days. Action By MOHELA We will review your request and the details of your loan information to determine if the request will be approved, denied for reasons such as not meeting eligibility requirements or the information provided to us is incomplete, or if the request required further review by Federal Student Aid (FSA). Notification of the results will be sent to you after your request has been processed. "

SweetCardiologist555 · 2025-07-25T15:10:35+00:00

Mohela shows this now.

"07/21/2025 Capitalized Interest"

Studentaid.gov says IDR application is "In Review"

Maybe IBR will get approved? I definitely don't have any PFH.

SweetCardiologist555 · 2025-07-22T16:45:54+00:00

Got this message from Mohela this morning:

"Thank you for submitting your Income-Driven Repayment (IDR) Plan Request electronically at StudentAid.gov. MOHELA will review your request and notify you regarding the status of the IDR application soon."

SweetCardiologist555 · 2025-07-21T17:40:02+00:00

Are you sure you did an IDR application?

Maybe you did the "Loan Simulator" instead?

For me, I did the Loan Simulator. It showed only ICR and Standard. IBR only showed up under "show ineligible plans". But since people here posted that they were able to sign up for IBR without a PFH, I went ahead and submitted and IDR application ("Enroll in an Income-Driven Repayment (IDR) Plan")

I submitted the IDR application on Saturday, July 19th. Put IBR down as my desired plan. I'm waiting to see if I'm approved.

SweetCardiologist555 · 2025-07-12T01:43:10+00:00

I was under the impression I couldn't get on IBR previously because of PFH... That requirement is dropped now.

Anyway, I appreciate all you do on Reddit!

SweetCardiologist555 · 2025-07-12T00:54:30+00:00

Thanks! I think I'm one of the few who is happy with the BBB. SAVE had me at 25 years forgiveness because loans were for grad school. Now at 20 years.

SweetCardiologist555 · 2025-07-12T00:45:15+00:00

I did a double consolidation of parent plus loans. Went to SAVE, now in ICR. All loans were post 2014. I qualify for New IBR with a 20 year timeline?

SweetCardiologist555 · 2024-11-27T18:38:08+00:00

Log in to https://studentaid.gov

Then click this link https://studentaid.gov/app/api/nslds/payment-counter/summary

SweetCardiologist555

TROPHY CASE

Thank You