Anonymous
12/04/2023 09:55
Subject: Re:Is anyone talking out parent plus loans for kids who want to go into government work?
Anonymous wrote:Anonymous wrote:Parent plus loans belong to the parent, not the student; so the parent would need to work in public service to have these forgiven (not the student).
+1 OP, I work for the government and also looked into this. My understanding is that the parent must work for the federal/state government.
Also, if you get a loan for $300k, after payments for 10 years, you will pay back approximately $220k and the remaining principal and interest balance will be forgiven. That means you saved about 1 year of tuition if you had paid cash.
more than just federal/state. can also work min 30 hours week for a NFP.
Anonymous
12/04/2023 09:54
Subject: Is anyone talking out parent plus loans for kids who want to go into government work?
I can't get into the legal stuff here (it's all online), but if you start your loan now, you're fine. but it could change during next admin - it won't/can't be retroactive to take this away, but it may be an issue for current HS juniors or younger.
I think you'd have to consolidate parent plus loans if you want this on kid's employment history. that part is what I'd look into
I think you'd have to consolidate parent plus loans if you want this on kid's employment history. that part is what I'd look into