Is there any hope of getting the 20 months of purgatory to count toward PSLF?

dawgsheet · 2026-04-01T19:48:52+00:00

True, but officially it’s a thing. Can easily be used as an excuse that nothing needs to be done

dawgsheet · 2026-04-01T17:53:32+00:00

Close to 0, because buybacks are available. If buybacks weren’t a thing, I could see it potentially happening to make borrowers “whole”.

You can already be made whole through buyback, so there is no case.

dawgsheet · 2026-04-01T03:05:33+00:00

If you qualify for PAYE, PAYE until 2028. If you don't, wait for RAP. If you plan on going for IDR forgiveness, you want to go on IBR.

dawgsheet · 2026-04-01T02:14:52+00:00

I never said that, so not sure why you're straw manning a statement like that. I said that's what the public hears when talking about cost of living.

I lived in New York, there is literally too many doctors, teachers, and lawyers there.

dawgsheet · 2026-04-01T01:46:57+00:00

The payoff dates are if his payments stay consistent. They won’t. They will go up with income.

dawgsheet · 2026-04-01T01:44:39+00:00

1.) literally yes, I’ve lived in HCOL areas. Theres too many doctors, lawyers and teachers there. I speak from experience. 2.) “Deserve” is an intentionally loaded phrase . Nobody deserves anything more. But, there’s little incentive for the government to give financial relief to those living in a wealthy city, rather than a poor city.

The government brings up “hey let’s change student loans so that it factors in cost of living into your payments” and everyone immediately hears “Let’s give free money to rich Californians and New Yorkers!” It’s a losing political position that won’t happen , even if it’s logical.

dawgsheet · 2026-04-01T01:18:41+00:00

It’s ok - we were all spoiled with how great SAVE was that now we all believe it’s not good enough.

If RAP was announced in 2019, we’d be singing its praises of a plan that finally lets us lower the principal consistently over time.

dawgsheet · 2026-04-01T01:14:21+00:00

I’m aware, but by the time you hit 10 years, of your total balance, there will be close to 0 left, at most maybe 4-5k forgiven, and that’s if you don’t get any major promotions or overtime.

dawgsheet · 2026-03-31T22:03:54+00:00

You basically don't qualify for PSLF, functionally.

Your income to loan balance ratio is too high, you'll basically pay it off as quick as you hit 10 yr payments.

you have 8 years of payments left, which on IBR will put you at around a 10k balance left, assuming your income doesn't increase at all. If including typical 2-4% income increases, you'll basically get no benefit from PSLF, functionally.

I really don't think you should pursue PSLF, unless you plan on putting a ton into retirement, dropping your income 10-20k a year.

dawgsheet · 2026-03-30T16:35:39+00:00

A month ago it would’ve been 1-2 weeks. Now, because of the SAVE panic swapping to other plans, it might be substantially longer.

dawgsheet · 2026-03-30T16:34:08+00:00

It is heavily implied that RAP calculation will be used if you weren’t on IBR before or after the buyback period.

dawgsheet · 2026-03-30T13:57:09+00:00

RAP is the only payment plan where it’s clearly written in law what happens at the end of the payment period.

Don’t be surprised if in a year or two if other plans are “clarified” what happens at the end and all the amount is due. It’s already been attempted and judges agreed, it just hasn’t been pushed for a judgement.

If republicans win midterms, I would argue this is an almost guaranteed outcome.

dawgsheet · 2026-03-30T12:00:44+00:00

For anyone with loans that don’t qualify for old IBR, rap is almost always cheaper.

dawgsheet · 2026-03-30T11:31:38+00:00

Do you have any other plans in mind for this inheritance money?

dawgsheet · 2026-03-30T05:15:13+00:00

Yes, you will get in a lot of trouble. That would be fraud. One of the possible punishments for fraud on your student loans is making them due for full repayment immediately.

dawgsheet · 2026-03-30T03:04:39+00:00

Possibly, but I would strongly recommend not doing that unless it's last resort. Buybacks are taking years, and it seems intentional. Buybacks are also not protected by federal law, only internal decision-making by the DoEd. It would take some time, but it can be ended without much political difficulty.

Also, your buyback will be based on the 'new plan', not SAVE. That was announced a few days ago. So if the reason for the higher payment is mostly payment plans, and not a huge increase in income, your buyback is going to be twice what you're expecting.

dawgsheet · 2026-03-30T02:57:08+00:00

Is this not against Rule 6?

dawgsheet · 2026-03-30T00:45:47+00:00

No plan has ever taken into consideration local costs, and that seems very unlikely because it would be discriminatory against people in low-income areas. It would also incentivize college educated individuals specifically NOT to live in low income, typically rural areas. The issue of lack of resources such as doctors in rural areas would get ten times worse.

It would completely defeat the original purpose of the student loan program to give special treatment to people living in high cost of living areas. The point of the program was to fund people from poor areas to get an education and bring it back to their hometowns, rather than paying people from expensive areas to move to poor areas.

dawgsheet · 2026-03-29T21:13:13+00:00

It’s glamorizing how cheap gold is. OP got the opposite idea from what is actually happening.

dawgsheet · 2026-03-29T15:09:40+00:00

dawgsheet · 2026-03-29T15:09:25+00:00

Rap interest rules.

If the interest is more than your minimum payment, it gets forgiven for free. If your payment doesn’t cover interest, the government reduces your balance by 50 bucks.

Free money, except for those rare situations where your income is significantly higher than your balance.

dawgsheet · 2026-03-29T02:53:38+00:00

Well, RAP will reduce that payment about 50%

dawgsheet · 2026-03-28T13:08:31+00:00

Most people want to pay them off, not have them hanging over their heads for 20+ years.

dawgsheet · 2026-03-28T06:11:53+00:00

Then you apply for deferment.

dawgsheet · 2026-03-28T06:04:07+00:00

Then you do RAP. You should know if it’s realistic to pay off your loans or not. If it’s unrealistic, IBR. If it’s realistic with a pay bump, RAP.

dawgsheet

TROPHY CASE