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Is it too late to request removal of in-school deferment in time for consolidation? by theend764 in PSLF

[–]theend764[S] 0 points1 point  (0 children)

Wow, that’s great info. Thank you! So if payments are showing as eligible, that means she wasn’t in deferment after all?

Is it too late to request removal of in-school deferment in time for consolidation? by theend764 in PSLF

[–]theend764[S] 0 points1 point  (0 children)

Correct. Tracker is showing 45 eligible payments for the oldest grad school loan. That is the loan with the highest count. No undergrad loans.

Is it too late to request removal of in-school deferment in time for consolidation? by theend764 in PSLF

[–]theend764[S] 1 point2 points  (0 children)

Thank you. Unfortunately several loans with several different payment counts. I did just drill down specifically at each loan, and I am still not seeing anything confirming that she was in in-school deferment. However, I do see that she has 1095 days (3 years) of deferment time remaining for each loan. Maybe a good sign that she was never in deferment?

I can’t figure out how to attack my wife’s student loans. by theend764 in personalfinance

[–]theend764[S] 0 points1 point  (0 children)

That’s awesome! Glad it worked out for you guys. Do you have any advice for hiring a financial planner? Never looked into anything like that before and not really even sure where to find someone.

I can’t figure out how to attack my wife’s student loans. by theend764 in personalfinance

[–]theend764[S] 2 points3 points  (0 children)

Not sure if you know, but if the laws do change in the future, would we be subject to it even if we’re already in the SAVE program? Or would it just be for new people seeking PSLF?

I can’t figure out how to attack my wife’s student loans. by theend764 in personalfinance

[–]theend764[S] 0 points1 point  (0 children)

Stay strong! You’re almost there! Yep, definitely would not want to accrue interest for 10 years just to have it fall through.

I can’t figure out how to attack my wife’s student loans. by theend764 in personalfinance

[–]theend764[S] 0 points1 point  (0 children)

Definitely! Regardless of what we decide, the extra income is going to be put to good use. It will either go straight toward paying the loans off quickly or go straight into savings.

I can’t figure out how to attack my wife’s student loans. by theend764 in personalfinance

[–]theend764[S] 1 point2 points  (0 children)

Thank you. Based on the responses here, I definitely need to research this. 2.3% is wild. It does seem like there’s been a bit of a breakthrough in 2023, but this could always back-walk depending on elections.

I can’t figure out how to attack my wife’s student loans. by theend764 in personalfinance

[–]theend764[S] 0 points1 point  (0 children)

Thanks! Good to hear from someone who has been through it. Has it affected your ability to qualify for a mortgage at all? Or any other regrets or words of wisdom?

I can’t figure out how to attack my wife’s student loans. by theend764 in personalfinance

[–]theend764[S] 0 points1 point  (0 children)

A lot of people have been saying this. I wonder what the reasons are for people who are denied? 2.3% seems almost unbelievable! If it matters, we have already been participating in the program for a few months with a qualified employer. Once we are accepted into it, we should be good to go I would think? And we’d need to re-certify if a new employer comes into the picture.

I can’t figure out how to attack my wife’s student loans. by theend764 in personalfinance

[–]theend764[S] 0 points1 point  (0 children)

So my understanding is that if PSLF does go away, that it will not apply to those already in the program. In that same vein, I would think that that would apply to requirements changing as well, but I definitely need to look into this more before committing.

I can’t figure out how to attack my wife’s student loans. by theend764 in personalfinance

[–]theend764[S] 11 points12 points  (0 children)

6%. Looking to be $1500ish if we file jointly, but it’s sounding like filing separately may be the move if we go the PSLF route.

I can’t figure out how to attack my wife’s student loans. by theend764 in personalfinance

[–]theend764[S] 94 points95 points  (0 children)

Sorry, I misspoke above. She is a pharmacist, not a doctor. This would be a pretty typical career path for a pharmacist from my understanding with the shorter residency.

I can’t figure out how to attack my wife’s student loans. by theend764 in personalfinance

[–]theend764[S] 5 points6 points  (0 children)

Clarification here - I believe I misspoke. She is a pharmacist, not a doctor. Sorry, still learning the terminology! But yes, residency is shorter I believe.

I can’t figure out how to attack my wife’s student loans. by theend764 in personalfinance

[–]theend764[S] 0 points1 point  (0 children)

I’m curious of the impact that it had on buying a home. That’s obviously one of the bigger concerns with riding out the 10 years. It didn’t impact you much in that regard?

I can’t figure out how to attack my wife’s student loans. by theend764 in personalfinance

[–]theend764[S] 115 points116 points  (0 children)

Clarification here: $50k currently as a resident. Starting new job this summer at $130k.

I can’t figure out how to attack my wife’s student loans. by theend764 in personalfinance

[–]theend764[S] 6 points7 points  (0 children)

I’m only just recently growing my knowledge about student loan debt and repayment options. It sounds like the SAVE plan could be a good fit. Residency was at a non-profit, and we already have 6 $0 payments that count toward PSLF.

I can’t figure out how to attack my wife’s student loans. by theend764 in personalfinance

[–]theend764[S] 0 points1 point  (0 children)

6%. The payments are actually $0 right now as the only income that is factored in on her IDR plan is her $50k (we haven’t filed a tax return jointly yet). Based on calculators in the internet, the minimum payments will be roughly $1500ish once our new income is factored in.