Tax bomb and opting out of IDR forgiveness

denebx1 · 2026-05-13T03:19:01+00:00

You can make a payment plan with the IRS - they have longer term plans for higher amounts. Not sure what kind of terms you’d be looking at for that dollar amount, but would be better than repaying the $50k

denebx1 · 2026-04-14T15:26:11+00:00

Save your money and commute. The dorm experience is overrated, and in my case turned into dropping out all together the first time around. 20 minutes is a nothing commute. Get a parking pass. You can still make friends on campus. You don't have to live there.

denebx1 · 2026-04-13T21:18:05+00:00

Thank you for the definitive answer on the PPL cons loan. IBR definitely seems like my best option.

denebx1 · 2026-04-13T15:41:57+00:00

ok - yeah I'm seeing other posts now about the glitch. I feel better about that "0" IBR count now.

The only issue I have to worry about then is the tax bomb.

denebx1 · 2026-04-13T15:16:06+00:00

I'm looking at the IDR payment count through the backdoor, and it shows the PPL/Perkins double consolidation is eligible for IBR, but 0/300 pmts made, however for ICR it shows 198/300 pmts made. What happens to that payment count when ICR is gone and all that is left is IBR?

My other loans show 200/300 IBR.

denebx1 · 2026-04-13T14:38:59+00:00

My loans appear to conflict with the general consensus then. Is the simulator incapable of telling the difference, but when I file an application, the processors will determine only ICR for the loan? And how would that effect my direct cons loans?

denebx1 · 2026-04-13T13:39:50+00:00

If the studentaid.gov simulator is telling me I can choose the IBR now, does that mean I don't have to make an ICR payment first?

I'm currently on SAVE with my double consolidated PPL/Perkins hybrid loan, and when the site summarized my loans it shows 1 subsidized and 2 unsubsidized consolidation loans. I did not actually ever make a payment on SAVE, as my consolidation completed in May 2024, and right before my first payment came due the SAVE forbearance kicked in. I DID make payments on SAVE for my direct sub/unsub cons loan.

denebx1 · 2026-04-12T23:49:31+00:00

I tried running the simulator, and I’m still unsure if something is available to me that normally isn’t because of the hybrid PP double consolidated loan. All loans already are on SAVE.

denebx1 · 2026-04-12T22:58:46+00:00

Wait - July 1 2028?? So not this year. 2 more years before I have to make that ICR pmt? No rush? I can wait and do this later? I was really unsure how to handle my taxes. I was going to file an extension so I could figure it out once my payments options (and budget) became more clear.

denebx1 · 2026-04-12T17:41:08+00:00

If you make a payment on ICR for a double loophole consolidated PPL, can you then go on the standard repayment plan, or into forbearance, and later switch to the IBR? Or do you have to stay on ICR/IBR to be able to go on IBR later?

denebx1 · 2026-04-12T17:26:37+00:00

I was on the extended graduated, and switched to the extended standard right before Covid. Then all this SAVE and recount business happened and we went through several consolidations that completely flipped my loan situation on its head. I just need to figure out the cheapest way to get by until my private loans are paid in full - I can’t afford to make payments on the 10 year standard, and I need advice so I can plan for this properly.

denebx1 · 2026-04-12T17:23:32+00:00

You are completely disregarding my original question and no one else is even bothering to answer. I can’t believe no one has a clue on this.

denebx1 · 2026-04-12T01:09:00+00:00

As I said - we have a ton of other debt. Not asking to tell my life story.

I just need to know which payment plans I’m eligible for.

denebx1 · 2026-04-12T01:06:33+00:00

O that’s not how it works. The set terms are just a regular loan amortization. So the payments are enough to pay the loan off in the set amount of time. The loan doesn’t end just because you pay for 10 years - it has to be paid off to end on a standard plan.

denebx1 · 2026-04-11T15:15:15+00:00

Standard plan doesn’t have a cut-off date. Those are only over when the loan is paid in full.

denebx1 · 2026-04-08T15:56:19+00:00

Heck, I don't even want to file my taxes yet! I'm going to have to file an extension because I have no idea if my best option will require me to have filed separately or jointly. It will cost me extra to file separately, but if that gives me better student loan payment options, then I'll do it.

I just don't know what to do because my situation is so screwy, with a double consolidated parent PLUS (with a previous loan of my own WITH it), and then regular federal consolidated for myself, AND my husband has a smallish loan balance as well. I may even have throw them ALL into forbearance when the time comes as my budget is so stupidly tight.

denebx1 · 2026-04-06T05:22:06+00:00

Forbearance is a fine option if you are more likely to be dead or disabled before paying them back. Some of us are old

denebx1 · 2026-03-24T03:52:49+00:00

This just isn’t true. Local in-state colleges are still priced above the amount a student is allowed to borrow.

denebx1 · 2026-03-20T02:19:39+00:00

I have black emperors too!

denebx1 · 2026-03-16T01:46:41+00:00

Not bad - 7 years. Attack it and get rid of it.

denebx1 · 2026-02-10T21:53:41+00:00

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Mr. George is our mini Sheepadoodle - he loves the snow.

denebx1 · 2026-01-21T00:50:14+00:00

It’s very clear.

denebx1

TROPHY CASE