** (www.master-bladesmith.com), 193k to start. In addition to the interest vs forgiveness, he has the choice to move to higher paying private sector jobs rather than wait it out, so our choice was much clearer once put to paper. I'm a new graduate nurse with $57k in student loans :( . (self.PSLF). Welcome to /r/PSLF, reddit's community for discussion, information, and assistance about the US Government's Public Service Loan Forgiveness program. PSLF victory! Email. 209k forgiven!! 4) No advocating default. **20% off for a limited time on Steam!**. This is my first time posting on this subsection of reddit. This also includes market research and focus group-style testing of products and services. Public Service Loan Forgiveness (PSLF) is a program that could eliminate some of your federal student loan debt if you meet all the requirements. As a general rule, the real secret to having a ton of money forgiven via Public Service Loan Forgiveness (PSLF) is to make a ton of tiny little Income-Driven Repayment payments during a long residency/fellowship training period. Eligible payments are the income based payments which could be lower than the interest that accrues every month. I've been reading about the public service loan forgiveness program and it almost seems too good to be true. Based on our review, you made at least 120 qualifying payments on some or all of your loans. Good News! The catch is it can be canceled/repealed at any time and you would end up possibly owing more than $57k if it is canceled/repealed. Also known as PSLF, the Public Service Student Loan Forgiveness is a federal program that may forgive or cancel the remainder of your Direct Student Loans if you work in a qualifying public service job and meet certain stringent criteria, including making 120 qualifying monthly payments. The 10-years-of-payments clock … Public Service Loan Forgiveness (PSLF) This is the student loan forgiveness program that has received the most visibility. 209k forgiven!! Paid 66k over the years. 1) No referral links/codes. As president-elect, Biden raised hopes on this front, specifically by calling for up to $10,000 in student loan debt forgiveness for graduates who pursue public service. Sometimes default is unavoidable, in which case we'll provide support and advice for getting out of it, but this is not the place to advocate intentional default or get advice about defaulting on purpose. Is there anybody who is using this public service loan forgiveness program or has used it? (self.PSLF), Saving money in case you get denied for PSLF? The 'broken' public service student loan forgiveness system is particularly brutal for military veterans 'Designed to fail’: Two public servants describe the government's troubled student loan forgiveness program . Is it more fiscally savvy for me to pay the income driven loan repayment and bank on the forgiveness in ten years? Would take near my whole damn life to pay everything off. At $57k in debt, it's possible to pay it off aggressively in less than ten years, but your ability to do so will depend on income and other expenses/responsibilities. We'll want to know: a) who you are, b) what company/group/school you're with, c) what the purpose of the data collection is, d) how you'll protect respondents' privacy, and e) how the data collected will benefit the /r/StudentLoans community. This is my first time posting on this subsection of reddit. The government could conceivably eliminate the program (although I think eliminating it for those who already have the loans is veryunlikely). You must make 120 qualifying payments to be eligible for forgiveness. Unfortunately, forbearance meant that borrowers could no longer qualify for public service loan forgiveness at the end of ten years. TEPSLF - Myfedloan says I don't qualify because of consolidation in 2014. Like many seeking public service student loan forgiveness, Jeffrey Morgan says he got bad information from student loan servicing centers. Share on Reddit; Public Service Loan Forgiveness, or PSLF, is a GREAT PROGRAM that can Benefit Millions of People! **20% off for a limited time on Steam! Real Estate Syndication: Invest In A Multi-Family Home With Our Help. Why is this? This comes down to a personal decision. Public Service Loan Forgiveness (PSLF) If you work full-time for a government or not-for-profit organization, you may qualify for forgiveness of the entire remaining balance of your Direct Loans after you’ve made 120 qualifying payments—that is, 10 years of payments. use the following search parameters to narrow your results: Welcome to /r/PSLF, reddit's community for discussion, information, and assistance about the US Government's Public Service Loan Forgiveness program. 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