Reply to How to minimize monthly interest ($550/month) accruing on student loans?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]^ sorry, just read the rest of your post and saw you refi’d so PSLF is off the table. [b]Why not pursue PSLF when you had the chance?[/b][/quote]

What is the point in discussing this?  What's done is done.

[/quote]

To add to the community knowledge base. OP might have had a perfectly good reason in forgoing PSLF and the rest of us might learn something. [/quote]

NP.  Many of those who once thought straight old government work would qualify for PSLF have been sadly disappointed when they are denied the repayment after 10 years of work.  PSLF is for very specific public interest jobs, many of which wouldn't come with a six-figure salary.  I think it was reported that 95% of those who applied in the last year or two (as the program has only been around long enough for a few cohorts to actually have completed their 10 years of work) were denied.  That would be a punch to the gut, for sure. [/quote]

I was wrong.  It's apparently 99%

[url]https://www.forbes.com/sites/zackfriedman/2018/09/24/public-service-loan-forgiveness-rejected/#305721e71824[/url][/quote]

Yeah the program sucks as far as I’m concerned. I was all ready to apply when I found out I was on the wrong repayment plan. If I had switched to the right one, my 10 year clock would have started ticking at that point (after already having 5 years of payments), and I would have had my loan paid off before then anyway.  [/quote]

Me again, to add to the suckiness of the program.  They started a fund for those who were rejected because they were on the wrong payment plan.  That would have been me - but when I realized I was on the wrong plan, I did not apply.  Why apply just to be rejected?  Well, I couldn't take advantage of this new fund because I never applied in the first place.  You are only eligible if you were previously rejected.  So I would have had to have had a crystal ball that told me "oh, maybe 5 years down the line they may offer something to those on the wrong payment plan, so go ahead and apply for PSLF (knowing you will be rejected) just in case."  Ridiculous.[/quote]

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