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Post by ba on Aug 29, 2022 9:42:36 GMT -5
98 percent user error? I’d find that funny if I didn’t think you were serious. It’s not fear mongering, sadly it’s reality. In fact, I just saw a prominent senator on the Sunday am news shows calling the 10k forgiveness “illegal”, which tells me to expect a court challenge. Back to the 98 percent user error, that’s an insult to a lot of smart people, many on this board, whose loans were intentionally not forgiven regardless of eligibility thanks to former Secretary Devos. Lastly, contractual arguments? I don’t think that helped the “2” percent that according to you who should have had their loans forgiven. Most of those loans were FFEL. They were not capable of PSLF. The amnesty waiver allows those loans to be consolidated into direct loans with no penalty and allow the payments made while in eligible employment to count towards PSLF. Paying off when you are seeking PSLF is horrifically bad financial advice. PSLF is in the master promissory note and is passed by Congress it isn’t going anywhere for existing borrowers. |
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Post by Prrple on Aug 29, 2022 9:50:31 GMT -5
I am so glad that the PSLF program exists. It did not exist when my loans were created, and I would have definitely qualified for it, based on how long I worked in government. What a boon that would have been! It is a great thing that PSLF exists now, and it is so exciting to see people posting about their loan forgiveness here.
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Post by stevenq on Aug 29, 2022 19:06:31 GMT -5
98 percent user error? I’d find that funny if I didn’t think you were serious. It’s not fear mongering, sadly it’s reality. In fact, I just saw a prominent senator on the Sunday am news shows calling the 10k forgiveness “illegal”, which tells me to expect a court challenge. Back to the 98 percent user error, that’s an insult to a lot of smart people, many on this board, whose loans were intentionally not forgiven regardless of eligibility thanks to former Secretary Devos. Lastly, contractual arguments? I don’t think that helped the “2” percent that according to you who should have had their loans forgiven. Most of those loans were FFEL. They were not capable of PSLF. The amnesty waiver allows those loans to be consolidated into direct loans with no penalty and allow the payments made while in eligible employment to count towards PSLF. Paying off when you are seeking PSLF is horrifically bad financial advice. PSLF is in the master promissory note and is passed by Congress it isn’t going anywhere for existing borrowers. I never followed up to see the numbers but I recall hearing a huge portion of those early PSLF denials were from those applying because they had to, knowing they wouldn't qualify, in order to then apply for the TPSLF (IIRC that was the name) they were really after. Everyone I know who had the right job, consolidated with Ed, and made 120 payments got forgiveness with no significant issues, including myself. Only real gripes I've seen are from folks with not-for-profit employment from an outfit that they should have known didn't have a primary purpose of public service (if your employer isn't a c3 or govt, it has to be a not for profit with the primary purpose of public service), despite the fact that their servicers accepted yearly certifications and possibly showed a qualifying payment count (remember: those weren't required and don't matter, only serve to make keeping up with the count easier than waiting til the end). I believe the big early news stories chronicled an ABA employee and an employee of some veterans organization as ones snubbed when it came time for forgiveness for lack of qualifying employment. While there is plenty to critique about PSLF, it's been working pretty much just as intended. |
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Post by prescient on Aug 30, 2022 13:17:11 GMT -5
Most of those loans were FFEL. They were not capable of PSLF. The amnesty waiver allows those loans to be consolidated into direct loans with no penalty and allow the payments made while in eligible employment to count towards PSLF. Paying off when you are seeking PSLF is horrifically bad financial advice. PSLF is in the master promissory note and is passed by Congress it isn’t going anywhere for existing borrowers. I never followed up to see the numbers but I recall hearing a huge portion of those early PSLF denials were from those applying because they had to, knowing they wouldn't qualify, in order to then apply for the TPSLF (IIRC that was the name) they were really after. Everyone I know who had the right job, consolidated with Ed, and made 120 payments got forgiveness with no significant issues, including myself. Only real gripes I've seen are from folks with not-for-profit employment from an outfit that they should have known didn't have a primary purpose of public service (if your employer isn't a c3 or govt, it has to be a not for profit with the primary purpose of public service), despite the fact that their servicers accepted yearly certifications and possibly showed a qualifying payment count (remember: those weren't required and don't matter, only serve to make keeping up with the count easier than waiting til the end). I believe the big early news stories chronicled an ABA employee and an employee of some veterans organization as ones snubbed when it came time for forgiveness for lack of qualifying employment. While there is plenty to critique about PSLF, it's been working pretty much just as intended. Many complaints about PSLF were the onerous repayment terms offered when people looked into consolidating. Also, finding the precise criteria needed to qualify wasn’t exactly easy in the early days. Many people were denied without an adequate explanation of why they didn’t qualify. Additionally, the resetting of the clock after consolidating was another back breaker. |
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Post by intothewild on Aug 31, 2022 18:20:17 GMT -5
Most of those loans were FFEL. They were not capable of PSLF. The amnesty waiver allows those loans to be consolidated into direct loans with no penalty and allow the payments made while in eligible employment to count towards PSLF. Paying off when you are seeking PSLF is horrifically bad financial advice. PSLF is in the master promissory note and is passed by Congress it isn’t going anywhere for existing borrowers. I never followed up to see the numbers but I recall hearing a huge portion of those early PSLF denials were from those applying because they had to, knowing they wouldn't qualify, in order to then apply for the TPSLF (IIRC that was the name) they were really after. Everyone I know who had the right job, consolidated with Ed, and made 120 payments got forgiveness with no significant issues, including myself. Only real gripes I've seen are from folks with not-for-profit employment from an outfit that they should have known didn't have a primary purpose of public service (if your employer isn't a c3 or govt, it has to be a not for profit with the primary purpose of public service), despite the fact that their servicers accepted yearly certifications and possibly showed a qualifying payment count (remember: those weren't required and don't matter, only serve to make keeping up with the count easier than waiting til the end). I believe the big early news stories chronicled an ABA employee and an employee of some veterans organization as ones snubbed when it came time for forgiveness for lack of qualifying employment. While there is plenty to critique about PSLF, it's been working pretty much just as intended. Only in the past year with the waiver has it worked. Even so there has been quite a bit of confusion. Prior to this waiver almost everyone was denied. |
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Post by slipperyslope on Sept 1, 2022 14:47:38 GMT -5
Good morning. Has anyone ever received a public service loan forgiveness for their student loans? I have a long way to go to qualify (10 years) but I’m curious to know if anyone has successfully done this. If you don’t feel comfortable responding, you can message me privately. Yes, received $69,000 repayment. Also, did not apply for the program until the waiver this October. About three months process |
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Post by Topperlaw on Sept 11, 2022 0:23:49 GMT -5
Just had my final $22,000 repaid. I had been in repayment for all 14+ years PSLF has been going on. Unfortunately the first 7 or so years, I thought I was making qualifying payments but wasn't. By the time I found out, it turned out that I would've needed to make such karge payments that the loan would've been paid off by 10 years. So until last October I just kept making minimum payments. With the limited waiver, I at least got the remaining balance waived. This is a huge blessing, but the whole thing still leaves a bad taste in my mouth and I still didn't get a refund of the extra 4 years of payments because I wasn't in the right loan until I consolidated in November.
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Post by superalj on Oct 21, 2022 21:46:10 GMT -5
Pay off those loans before 2024. Remember that devos or secretary devious denied 98 percent of forgiveness applicants. A new POTUS and Congress may legislate away the program and I’m expecting a court challenge to the 10k cancellation. I'm sorry, but this is terrible financial advice for someone working towards PSLF and just a restatement of fear mongering headlines. The 98% denial of forgiveness was mostly due to user error. These people were not eligible for forgiveness yet. Additionally, PSLF is built into the master promissory note of the loans, so in the extremely unlikely event that congress pulls PSLF for loans that have already been issued, there are several contractual arguments for the courts to fall back on to grant forgiveness for current borrowers that have relied on PSLF. Appeals Court Temporarily Halts Biden’s Student Debt Cancellation www.nytimes.com/2022/10/21/business/appeals-court-student-debt-relief-biden.html?smid=nytcore-ios-share&referringSource=articleShareFear mongering? I’m sure if this gets to SCOTUS, they will take away the student loan relief just like they took away a woman’s right to chose. Maybe SCOTUS will support a decertification of union by a future POTUS so we would be at will employees of an authoritarian executive. No fear mongering, just being real. |
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Post by intothewild on Oct 21, 2022 23:20:10 GMT -5
I'm sorry, but this is terrible financial advice for someone working towards PSLF and just a restatement of fear mongering headlines. The 98% denial of forgiveness was mostly due to user error. These people were not eligible for forgiveness yet. Additionally, PSLF is built into the master promissory note of the loans, so in the extremely unlikely event that congress pulls PSLF for loans that have already been issued, there are several contractual arguments for the courts to fall back on to grant forgiveness for current borrowers that have relied on PSLF. Appeals Court Temporarily Halts Biden’s Student Debt Cancellation www.nytimes.com/2022/10/21/business/appeals-court-student-debt-relief-biden.html?smid=nytcore-ios-share&referringSource=articleShareFear mongering? I’m sure if this gets to SCOTUS, they will take away the student loan relief just like they took away a woman’s right to chose. Maybe SCOTUS will support a decertification of union by a future POTUS so we would be at will employees of an authoritarian executive. No fear mongering, just being real. That has nothing to do with the ten year public service loan forgiveness. |
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Post by badger on Oct 22, 2022 5:49:41 GMT -5
I'm sorry, but this is terrible financial advice for someone working towards PSLF and just a restatement of fear mongering headlines. The 98% denial of forgiveness was mostly due to user error. These people were not eligible for forgiveness yet. Additionally, PSLF is built into the master promissory note of the loans, so in the extremely unlikely event that congress pulls PSLF for loans that have already been issued, there are several contractual arguments for the courts to fall back on to grant forgiveness for current borrowers that have relied on PSLF. Appeals Court Temporarily Halts Biden’s Student Debt Cancellation www.nytimes.com/2022/10/21/business/appeals-court-student-debt-relief-biden.html?smid=nytcore-ios-share&referringSource=articleShareFear mongering? I’m sure if this gets to SCOTUS, they will take away the student loan relief just like they took away a woman’s right to chose. Maybe SCOTUS will support a decertification of union by a future POTUS so we would be at will employees of an authoritarian executive. No fear mongering, just being real. This isn't PSLF. |
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Post by superalj on Oct 22, 2022 10:01:35 GMT -5
PSLF will be next. The groups behind these lawsuits including the next student loan servicer aren’t going to stop with the $10k/$20k forgiveness. PSLF hurts their profits and the is a disdain among many in the country for higher education relief despite the fact that Wall Street and many industries constantly receive bailouts. While somewhat off task, SCOTUS will hear a voting case from NC that could potentially give state legislatures the power to overturn elections regardless of what their courts say. In fact, an association of state Supreme Court justices took the unusual step of filing an amicus brief.
This anti democratic trend will trickle down to us. The prior administration tried to decertify the immigration judge union and attempted to create a schedule F to most federal employees. If a subsequent administration picks up where this is left off, we all may be at will employees serving at the pleasure of POTUS. We then lose our judicial independence and maybe our jobs. Of course, I hope I’m wrong but it’s enough to make lose some sleep at night.
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Post by Gaidin on Oct 26, 2022 8:24:42 GMT -5
99% of applicants are denied. It’s disgraceful how the program has been run That isn't true right now. In the past the program was an absolute embarrassment but anecdotally I know multiple people feds and others who have been approved in the last year. I am hoping mine will be approved soon. |
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Post by abthejd on Oct 26, 2022 10:22:43 GMT -5
PSLF will be next. The groups behind these lawsuits including the next student loan servicer aren’t going to stop with the $10k/$20k forgiveness. PSLF hurts their profits and the is a disdain among many in the country for higher education relief despite the fact that Wall Street and many industries constantly receive bailouts. While somewhat off task, SCOTUS will hear a voting case from NC that could potentially give state legislatures the power to overturn elections regardless of what their courts say. In fact, an association of state Supreme Court justices took the unusual step of filing an amicus brief. This anti democratic trend will trickle down to us. The prior administration tried to decertify the immigration judge union and attempted to create a schedule F to most federal employees. If a subsequent administration picks up where this is left off, we all may be at will employees serving at the pleasure of POTUS. We then lose our judicial independence and maybe our jobs. Of course, I hope I’m wrong but it’s enough to make lose some sleep at night. In regards to the student loans, this couldn’t be more off base. First, 98% of people were denied because the program wasn’t set up well. Many didn’t know they had to reconsolidate their loans or that they had to be in an IBR or similar repayment plan, nor were they aware they should certify their employment every year to get ahead of potential issues. Hence, the program put in place to waive those requirements for everyone who fell victim to them, which is ending at the end of this month. Devos was horrible, but she wasn’t specifically denying people, the program was just set up poorly to begin with, and it’s now fixed. Now, regarding future administrations coming after PSLF, the prior admin already tried that and got a Mike Tyson upper cut in response. They quickly found out there is little that can be done for people already “enrolling” in PSLF, as it essentially is a contract in nature. Fed promises to forgive outstanding debt in exchange for Fed or non-profit employment. That is why it was so important to certify your employment, to show you were “enrolled.” The ONLY thing a new admin can do is remove the program for future participants not enrolled. That is a possibility and could hurt future recruitment to the Fed, but that’s all that can happen. |
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Post by jagvet on Oct 26, 2022 14:35:19 GMT -5
Ironically, I used to work in the US Dept of Education. I was not involved in student loans, but ALL of my attorneys during the Bush and Obama administrations got rejected from the repayment forgiveness program. I must have heard from ten of them. The reasons varied, but the main thing was that the Department used every technicality to kick people out of the program. The reason, I am told, is because the employee's federal agency repaid the loan out of current payroll dollars (I don't know if that is true, but those who alleged it said they checked), and it would impact hiring.
I am not there now, but a student loan insider at Education told me that at the end of Obama and beginning of Trump eras, Education was starting to approve applications. I don't know about other agencies like SSA.
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Post by badger on Oct 26, 2022 16:37:24 GMT -5
Ironically, I used to work in the US Dept of Education. I was not involved in student loans, but ALL of my attorneys during the Bush and Obama administrations got rejected from the repayment forgiveness program. I must have heard from ten of them. The reasons varied, but the main thing was that the Department used every technicality to kick people out of the program. The reason, I am told, is because the employee's federal agency repaid the loan out of current payroll dollars (I don't know if that is true, but those who alleged it said they checked), and it would impact hiring. I am not there now, but a student loan insider at Education told me that at the end of Obama and beginning of Trump eras, Education was starting to approve applications. I don't know about other agencies like SSA. PSLF started in 2007 and it takes a minimum of 10 years to be eligible. So no one was eligible for forgiveness under the Bush or Obama administrations. Some agencies offered payments towards student loans as a perk. Sometimes these were made in a lump sum. If this happened, it was counted as single payment. This has been changed and now lump sum payments can be divided into 12 payments. You might be describing a situation where employees only made one payment a year because the lump sum covered what they owed for the year. (PSLF requires 120 payments, not a flat 10 years of service). SSA has never offered this "perk," so it shouldn't be an issue for SSA employees. |
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Post by prescient on Oct 26, 2022 19:26:55 GMT -5
99% of applicants are denied. It’s disgraceful how the program has been run That isn't true right now. In the past the program was an absolute embarrassment but anecdotally I know multiple people feds and others who have been approved in the last year. I am hoping mine will be approved soon. Haha. Yea that quote didn’t age well. Super happy that they changed the rules, and hope many of you all are able to get the loans forgiven |
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Post by ba on Oct 27, 2022 12:29:36 GMT -5
PSLF will be next. The groups behind these lawsuits including the next student loan servicer aren’t going to stop with the $10k/$20k forgiveness. PSLF hurts their profits and the is a disdain among many in the country for higher education relief despite the fact that Wall Street and many industries constantly receive bailouts. While somewhat off task, SCOTUS will hear a voting case from NC that could potentially give state legislatures the power to overturn elections regardless of what their courts say. In fact, an association of state Supreme Court justices took the unusual step of filing an amicus brief. This anti democratic trend will trickle down to us. The prior administration tried to decertify the immigration judge union and attempted to create a schedule F to most federal employees. If a subsequent administration picks up where this is left off, we all may be at will employees serving at the pleasure of POTUS. We then lose our judicial independence and maybe our jobs. Of course, I hope I’m wrong but it’s enough to make lose some sleep at night. PSLF is statutory. And eliminating it can only be in future loans if Congress did that because it is in all the master promissory notes. |
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Post by badger on Jan 19, 2024 17:43:55 GMT -5
My loans were forgiven this week.
Thanks to the limited waiver, I was able to shave 9 months off my timeline by receiving credit for previously ineligible public service.
A lot changed (for the better) during my 10 years and you never know what change you might be able to take advantage of.
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