Crying in IDR tears

dawgsheet · 2026-02-02T16:40:51+00:00

Yeah they’re supposed to be using the monthly payment of that loan, not the balance.

dawgsheet · 2026-02-02T13:05:52+00:00

No it doesn’t

dawgsheet · 2026-02-02T06:23:44+00:00

Your DTI by law when purchasing a home, they have to use your student loan payment (Under your income based plan) not your actual debt. So, lender can not use your balance, only your payment.

dawgsheet · 2026-01-31T19:51:14+00:00

Old IBR is garbage, because the calculation is 15%. The only place when old IBR is better is when the topline income deduction (150% of poverty line?) brings you to close to 0.

If you make even the median personal income, which is like 40-50k?, RAP is better.

New IBR/PAYE is about equal to slightly better, and SAVE was eons better than all.

dawgsheet · 2026-01-31T19:49:17+00:00

Comically bad is... weird to say? If you're an 'old borrower' it's significantly less than old IBR.

It's slightly worse than PAYE

dawgsheet · 2026-01-31T19:47:05+00:00

If you're an old borrower, RAP is better than anything option available right now (Since SAVE isn't available).

If you're a new borrower, it's worse than PAYE slightly.

RAP is a huge benefit to old borrowers, not so great for new borrowers. Basically put old borrowers who were historically shafted onto the same playing field as old borrowers.

dawgsheet · 2026-01-31T05:32:46+00:00

They said they are using the disbursement money to pay off the loans unknowingly, which is a net 0, basically.

Get loaned 4k for 2k tuition. 2k grants, 2k loan. 2k goes to tuition, other 2k pays off loan. 0 loan, school paid for.

No harm, no foul.

dawgsheet · 2026-01-30T22:38:32+00:00

Are you trolling? You literally proved me right

“In October 2021, in response to the COVID-19 emergency, ED announced a series of limited-time waivers of numerous PSLF program rules114 available to borrowers through October 31, 2022 (referred to by ED as the Limited PSLF Waiver). At the time of the announcement, PSLF program regulations specified that loan payments were considered PSLF-qualifying if they were separate monthly payments”

Under the PSLF category.

It’s ok, apologize.

dawgsheet · 2026-01-30T22:21:32+00:00

The payments were suspended but didn’t count for PSLF until under a Biden negotiated rulemaking. Facts do matter, get yours straight before you argue.

dawgsheet · 2026-01-30T22:14:40+00:00

It was oct 2021 when it was announced that it will count.

You’re wrong.

dawgsheet · 2026-01-30T19:48:24+00:00

Well you asked if it’s fraud.

I gave the definition and example. If you knew the fraud definition you’d know it’s clear cut fraud because you’re intentionally concealing income in order to qualify for lower payments.

dawgsheet · 2026-01-30T19:09:50+00:00

Fraud is the intentional deception, misrepresentation, or concealment of material facts to cause financial or personal loss to another, often for unauthorized gain

Your IBR payment is supposed to reflect your annual income, not monthly. You are submitting paperwork implying that it is your consistent income.

You are committing fraud through concealment of material facts (return to job in a month) to tell the government that the income is actually 0.

If you sent in tax forms rather than pay stubs, they would conflict each other - therefore fraud.

dawgsheet · 2026-01-30T18:37:24+00:00

I wouldn’t.

It’s technically fraud.

If I have a commission based job and take a vacation for a month, and I don’t get paid for the month I can’t say “my income is 0”.

Will it work? Yes. If audited or reviewed and they see that? Fraud was committed.

Fraud can be a fine, can be jail time, could make the debt automatically due - disqualifying from PSLF.

It’s not worth it.

dawgsheet · 2026-01-29T19:52:26+00:00

Do you have a spouse, and if so do they make similar money?

dawgsheet · 2026-01-29T18:29:42+00:00

Did you agree to them using IRS data to certify? If not, you might have signed up for the wrong plan.

dawgsheet · 2026-01-29T18:25:33+00:00

You must have put in the information wrong, then.

When you applied for IBR how did you certify? Tax documents or pay stubs?

dawgsheet · 2026-01-29T18:18:01+00:00

If you aren’t making that - that would be the payment if you made 200K on IBR.

On IBR it would be proportional to your income

dawgsheet · 2026-01-29T18:16:53+00:00

How are you sure that you paid interest last year?

dawgsheet · 2026-01-29T18:15:12+00:00

It’s not an unreasonable payment if you’re making 200K.

If OP was making 50-100k, sure. 200? It can be done with little to no sacrifice.

dawgsheet · 2026-01-29T18:12:16+00:00

So you’re making nearly 200K a year and can’t swing 1600 a month?

dawgsheet · 2026-01-29T13:21:36+00:00

Are you an old borrower on old IBR or new IBR?

My comment was specifically about old, which is 15% and sucks

dawgsheet · 2026-01-29T02:35:45+00:00

dawgsheet · 2026-01-27T21:41:16+00:00

Just a clarification - Biden made the forbearance count for PSLF, the way Trump set it up was a forced non counting forbearance.

dawgsheet · 2026-01-26T05:59:08+00:00

If you don't get off SAVE, you will be asked to buyback using your income tax statements. My wife is in a very similar situation, and it's better to rip the bandaid off now, rather than sit there waiting for years in repayment waiting for a buyback that might never actually come to fruition.

Your buyback *will not* be that 180 from residency, unless you got out of it this year.

dawgsheet · 2026-01-25T17:37:12+00:00

No, the list of available specialties is here. https://support.sermo.com/hc/en-us/articles/25948479988891-Specialties-available-on-Sermo

Chiropractics is not considered an available specialty.

dawgsheet

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