If you're looking for more PSLF resources, read the following blogs below. Checklist: www.studentloanplanner.com/pslf-checklist/ 40 tips: www.studentloanplanner.com/public-service-loan-forgiveness/ More PSLF content: www.studentloanplanner.com/blog/?_categories=pslf
I am a physician. I have a lot of debt. I am ~ 7 years into PLSF on PAYE. I am considering switching to IBR. The rational is I can afford the increase in monthly payments and I am looking for the safest option to qualify for PSLF given the recent court case around SAVE. Do you think this logic is sound? Thanks so much for your help.
Lawyer here in a similar boat. On PAYE, nearing cancellation, and not sure which plan to switch to if forced out of PAYE. I have my 10 years of employment (at 124 months now), and have had a PSLF buyback application in for over 100 days now. So I’m doubtful my PSLF buyback application will get processed in the next 40-something days before the keys to the castle are handed over. And if I don’t get relief through PSLF buyback, I’ll be scrambling for a qualifying payment plan to get me though my last few months/credits next year if forced to recertify my income earlier than expected.
I have just completed the double loophole consolidations for parent plus loans. I am in the standard repayment plan at this time. I was just advised (Jan.2025) by a Mohela rep to stay in the standard plan and apply for SAVE just in case it survived or another comparable option is presented. I want to start paying back now. He told me to stay in repayment mode, make the standard payment (because it is the lowest payment), certify my employment for PSLF (TEPSLF) and wait it out. HE said as of now, standard extended payment plan still automatically qualify for TEPSLF count. He said if I apply for IBR now it will negate my option for SAVE (or comparable) if it survives and it will be a substantially larger payment. Is this correct?
The exception does not only apply to CA and Texas physicians. It applies to any employee nationally who is working for a for profit organization but providing services 30+ hours per week for a qualifying organization (govt/501c3) and due to state law cannot work for the qualifying organization directly as a W2 employee.
@@cmcner@cmcner Right, but what other state's law currently prevents a professional from directly working for a qualifying organization as a W2 employee? That's what I'm getting at. This is the only scenario we know of that this PSLF exception applies to at this point: physicians in CA and TX at nonprofit hospital systems. If you know of other professions and their states affected by this state law issue, that would be helpful information. I don't want contractors in other states thinking they're now eligible for PSLF when they're not. The nonprofit/govt may have just not wanted to hire directly vs it being prevented explicitly by law. That could cause a lot of confusion.
I have 29 payments left. I can (or could have) retire in 2026. I’m in the save forbearance…waiting. I certified my employment and submitted a new plan request because the link on Mohela told me I needed to by the end of the month. I just chose save again because I’m so confused on what to do. Now I’m waiting for that to update. The website says I’ll be out of forbearance in April now instead of January. Any suggestions?
Explain to those of us already on the PSLF program, very near or have met our 120 qualifying payments, and are on the SAVE forbearance waiting for some window to open up to let us get our forgiveness, what the heck do we do?
See recent videos on some options borrowers in your position may have. I also recommend that you subscribe to the newsletter for updates weekly: www.studentloanplanner.com/student-loan-calculator/
So I wasn't allowed to consolidate because I had FFEL spousal consolidation loans. I'm just in the process of separating these. So I guess my 10 years of possible PSLF never existed 😥
![Your Parent PLUS Loan Questions ANSWERED [Jan 2025 deadline]](http://i.ytimg.com/vi/pxU56wracBE/mqdefault.jpg)
If you're looking for more PSLF resources, read the following blogs below.
Checklist: www.studentloanplanner.com/pslf-checklist/
40 tips: www.studentloanplanner.com/public-service-loan-forgiveness/
More PSLF content: www.studentloanplanner.com/blog/?_categories=pslf
thank you
I am a physician. I have a lot of debt. I am ~ 7 years into PLSF on PAYE. I am considering switching to IBR. The rational is I can afford the increase in monthly payments and I am looking for the safest option to qualify for PSLF given the recent court case around SAVE. Do you think this logic is sound? Thanks so much for your help.
Lawyer here in a similar boat. On PAYE, nearing cancellation, and not sure which plan to switch to if forced out of PAYE. I have my 10 years of employment (at 124 months now), and have had a PSLF buyback application in for over 100 days now. So I’m doubtful my PSLF buyback application will get processed in the next 40-something days before the keys to the castle are handed over. And if I don’t get relief through PSLF buyback, I’ll be scrambling for a qualifying payment plan to get me though my last few months/credits next year if forced to recertify my income earlier than expected.
I have just completed the double loophole consolidations for parent plus loans. I am in the standard repayment plan at this time. I was just advised (Jan.2025) by a Mohela rep to stay in the standard plan and apply for SAVE just in case it survived or another comparable option is presented. I want to start paying back now. He told me to stay in repayment mode, make the standard payment (because it is the lowest payment), certify my employment for PSLF (TEPSLF) and wait it out. HE said as of now, standard extended payment plan still automatically qualify for TEPSLF count. He said if I apply for IBR now it will negate my option for SAVE (or comparable) if it survives and it will be a substantially larger payment. Is this correct?
The exception does not only apply to CA and Texas physicians. It applies to any employee nationally who is working for a for profit organization but providing services 30+ hours per week for a qualifying organization (govt/501c3) and due to state law cannot work for the qualifying organization directly as a W2 employee.
@ a private Medicaid provider fits this description.
@@cmcner What other states does this apply to?
@@meaganmcguire5857 this applies to all states the rule making from July of 2023 does not specify any specific state
@@cmcner@cmcner Right, but what other state's law currently prevents a professional from directly working for a qualifying organization as a W2 employee? That's what I'm getting at. This is the only scenario we know of that this PSLF exception applies to at this point: physicians in CA and TX at nonprofit hospital systems. If you know of other professions and their states affected by this state law issue, that would be helpful information.
I don't want contractors in other states thinking they're now eligible for PSLF when they're not. The nonprofit/govt may have just not wanted to hire directly vs it being prevented explicitly by law. That could cause a lot of confusion.
I have 29 payments left. I can (or could have) retire in 2026. I’m in the save forbearance…waiting. I certified my employment and submitted a new plan request because the link on Mohela told me I needed to by the end of the month. I just chose save again because I’m so confused on what to do. Now I’m waiting for that to update. The website says I’ll be out of forbearance in April now instead of January. Any suggestions?
Question, I have Unsubsidized Loan and Graduate PLUS loans. are these eligible?
none of mine say direct
Explain to those of us already on the PSLF program, very near or have met our 120 qualifying payments, and are on the SAVE forbearance waiting for some window to open up to let us get our forgiveness, what the heck do we do?
PSLF buyback. They are processing the applications now.
See recent videos on some options borrowers in your position may have. I also recommend that you subscribe to the newsletter for updates weekly: www.studentloanplanner.com/student-loan-calculator/
So I wasn't allowed to consolidate because I had FFEL spousal consolidation loans. I'm just in the process of separating these. So I guess my 10 years of possible PSLF never existed 😥
you're not keeping the dog's attention lol!
😂
Is it safe to say this program isn’t going away in the next four years??? (Aware republicans need 60 seats in the senate to obliterate pslf).
I don't think it will, but if it did, it would go into effect for new borrowers.
Covered this in recent videos but our belief is that it is very unlikely
Those interruptions are annoying.
It seems to me the PSLF is all over. The Trump administration is ending this program, correct?
No this will continue. This was in place long before Trump was even if office the first time.