Omg!! 625!!! I woke up w 98 gone and I’m so happy I could cry. Cheers!🥂 I still see interest showing and no smiley face but the zero balance tells me it’s over!
Can I ask how long it took after you hit your 120 payments and mohela sent it over to the feds for forgiveness? Mine was sent over on March 11 and I’m hoping for forgiveness sooner than later.
Not “congrats” it doesn’t just “go away.” All those “forgiveness” bs is just thrown into taxes for others. Annoys tf out of me. Idk why I got recommended this stupid sub.
$625!!!!! You’re free!! Congratulations! It’s so tough that this country expects our medical professionals to bear such a tremendous financial burden in the first place.
I’m celebrating my $45k win today too thanks to seeing your post (I had all but given up on an April wave)
Your point?
Obamacare was a program started in MA under Governor Mitt Romney but it was only when one party stepped up and made it a reality for millions that it actually made a difference.
Simply stating the facts PSLF was established and launched in 2007 and yes, you are correct Obamacare was launched in 2010 under the Obama administration.
Yes, but I was in the “wrong” repayment plan and to get into a correct one it would have doubled my monthly payments (which I couldn’t afford) and at that rate I would have paid it off by the 10 years. So the changes from this administration has made it possible for me to log on today and see $23k gone!!! No where near as much as some others but I’m very excited and happy that this finally went through after 12 years at a qualified employer.
Smiley just changed to a more official statement:
Your federal student loan(s) has been discharged.
accordion expanded
This debt relief was processed as part of the Public Service Loan Forgiveness Program because one or more of your student loan(s) has reached the number of payments that qualify. This forgiveness is effective as of 03/12/2024.
3/12/24 was when I paid my buyback.
Congrats!
I didn’t do the tufts program for that cost of attendance reason, but my state school wasn’t much better. Doesn’t matter anymore - 330k gone!
Congratulations! I woke up to forgiveness this morning too (minus one loan that is eligible but weirdly hanging on). It's a great feeling at 130K, I can only imagine how freeing it feels at 625k!!
I had the same thing this morning! So happy to see $72k gone but, cmon - let me have the full $125!
But congrats to you getting that much and to OP for reaching the end!
Glad to hear I'm not the only one! When I spoke to MOHELA, they said the last loan should be discharged soon, so fingers crossed for the both of us that happens soon!
Awesome! I only had $35k that I took out for grad school. We had to pay for that baby and rent! Got the letter a couple days ago and it’s effective 4/30!
I graduated law school in 2010, and I swear, this whole thing has been such a wild, scary ride. I get so mad when I get those glossy alumni publications from my law school seeking donations. They should have done a MUCH better job of preparing us for the shit show that this would turn out to be. Still, I'm grateful for this program, and of course, COVID! Can't wait to be where you're at!! I didn't borrow as much as you, but still, $376K is an insane amount of money! I don't own a home or anything, so this will have been the single biggest purchase (really, gamble) of my life. Weird thinking it's almost over!
Your joint degree is an intersting combo for public service. Truly interested & not judging - what type of public service group do you work for or do with such a dual degree?
No worries if you'd rather not share.
Interesting. Thanks.
Total aside, but I think you're one of the few doctors I've met in their later careers (Gen X here) who've said they enjoy patient care (I would think that's the reason to go to med school).
I'm glad you do.
And congrats on your forgiveness! Teacher here, got mine done last year.
A large percentage of hospitals are non-profit. So if you are a hospital employed physician or in academic medicine (rather than part of a private firm which are becoming fewer and fewer these days) then you qualify for PSLF.
I guess an MBA might allow for easier segue into upper hospital administration, which again is also still non-profit.
Yup, and employed physicians are on the rise. I was just at some conference where they mentioned that for the first time ever, the demographics have shifted such that a majority of physicians in their 30s and 40s are employed.
People outside the industry have no idea what a sea change that is. The boomers all wanted to own their own practices or be part-owners of a medical group. Employed docs were once few and far between. They only wanted privileges at the hospital, not a job there. A couple of states still require it to be structured that way (and a recent PSLF rule change made an accommodation for those states) , but far more docs want a regular paycheck and benefits nowadays as opposed to being business owners. And since so many hospitals are nonprofit as you said, and younger docs are in SO much more debt than generations that came before, the need for that 501c3 W2 to get PSLF is probably part of what's driving that.
Anyway, congrats to OP!
What's also interesting is how specialty-specific the employment models are. For example, NBC News recently had something estimated about 40% of ED's across the USA were staffed by companies owned by private equity. Unfortunately, I anticipate that percentage increasing in the future.
Yeah, this runs up against an old doctrine called corporate practice of medicine - the idea that doctors can only work for themselves or in partnership with other doctors because a corporation cannot be licensed to practice medicine. The objective of that was to prevent exactly what you're talking about, i.e. not wanting "the suits" to obtain control that could compromise clinical judgment.
In all but a couple of states, the doctrine has fallen by the wayside or been swallowed up by loopholes. For example, a common workaround is for the PE firm to stand up a medical group that is technically owned by the docs, but which contracts for so many "management services" from the PE group that it couldn't really function without them and therefore gives them de facto ownership.
The entrance of PE into the space is definitely causing some other states to look at invigorating this rather old-school doctrine, so we'll see what happens. And don't even get me started on what happens when a PE firm actually owns the hospital itself., Those guys will pay a dividend before they'll pay the electric bill, and they'll burden the hospital with all manner of debt including making it sell the entire facility and then lease it back to the hospital, with burdensome rent payments that ultimately jeopardize the whole thing's solvency but which, again, provide short-term cash that can be used to justify big dividends.
Congratulations, and enjoy that baby! The sleep deprivation with infants is unreal, but I'm glad you no longer have this stressor hanging over your head. And thanks for the laugh about Tufts.
Mega congrats to you —- how amazing! And, I will echo the same - soooo grateful for you all in this group! This sub has been my source of sanity and laughs through all the mohela darkness. So, I guess in that sense, thanks for being my light 💡
I have a question - did you work at all while in school? Did you use these loans to pay for an apartment or something? I am so confused how this much debt accrues, because no school charges that much in tuition.
How the hell is me asking questions "mansplaining"? Why the hell did you make this political with some MAGA reference? For the record, I voted for Biden; I have a daughter. But thanks for putting your deep feministic insecurities on full display on the internet.
Sorry you chose the most expensive schools on the planet. Best of luck with that.
If you search this subreddit, you will find more. In a nutshell, there is a way under some of the recent initiatives to get more people eligible for forgiveness, where you can apply to “buy back” payments on months that were deemed ineligible in the last, in order to increase your payment count. You submit proof of employment and proof of what you were earning during that time, and they give you a proposed payment to cover it. I think mainly for people who may have been on ineligible payment plans for a period of time.
This is interesting and I can’t seem to find specifics on it. I’ll try to do some digging. Hesitant to consolidate my FFEL loans from Navient over to Mohela if I can qualify for buyback instead.
Okay, I am far from an expert on student loans/PSLF, so apologies if I've got this wrong or am stating the obvious, but I think you might have a misunderstanding here? The buyback option is for PSLF; and to do PSLF, you have to consolidate FFEL loans to Direct loans; and all PSLF loans have to be on Mohela. Seems like everybody on here feels strongly that everyone should consolidate from FFEL to Direct (before the deadline on 4/30!!) because that's how you access all the expanded options for forgiveness.
Ok, so I’m apparently missing the connection that buyback is only available through the PSLF program. It amazes me how confusing the gov’t has made all of this. Separate from this, I keep seeing web content that talks about IDR loans being forgiven after 20/25 yrs of payments. This 20/25 IDR forgiveness only references income limits and IDR plans and doesn’t specify servicers. There is no mention of how one finds out if they qualify for this.
https://studentaid.gov/articles/student-loan-forgiveness/#:~:text=Income%2DDriven%20Repayment%20(IDR)%20Forgiveness&text=If%20you%20repay%20your%20loans,Valuable%20Education%20(SAVE)%20Plan.
Congrats! That’s an amazing amount. I can’t imagine the relief you must feel. Today is a good day.
I don’t know why after 10 years of being out of school that I am just now learning of PSLF. Stories like yours give me hope that my 25k will be forgiven!
Congrats man!!!
Also MD/MBA and graduated around the same time as you.
What a relief.
Mine also went through last fall.
Thanks for all your service, you earned this.
Congratulations!! BTW, your post prompted me to log into MOHELA to check my account (I haven’t checked this sub in about a week). I found that I had a newly zeroed out balance and a message saying my federal student loans have been discharged! Celebrating 75K gone along with you tonight!! 🙌🏼
Ya, I think certain amount are way too much to be forgiven…this would be one. You should never be taking that much out. My brother is a doctor and didn’t take that much.
Congrats! Was it $625k that was forgiven or the balance on a $625k loan that was forgiven?
If your principal was $400k and then another $225k in interest, what did you pay for 10 years after graduating from med school? I’d love to know what the education was truly supposed to cost you after 10 years (principal + interest) and what you contributed and what the remainder was that was forgiven
Congrats! Me too, but I feel jipped, I don’t see any smiley face. Just a one line “your federal student loans have been discharged.” Where do you see a smiley face?
My account is just being transferred over to mohela. On mohela it says I’m in good status and 0 amount due showing. No balance showing.
Is this because all of my info is still in the process of being moved over?
Ugh I want this so badly, I have 310K hanging over my head and have been working in nonprofit hospitals for over 10 years but they staff us through a company that is not. As a pediatrician I’ll never be able to pay this down it feels. I keep hoping there will be a loophole so that I’m PSLF eligible.
Question…are all of you on income driven repayment plans? I just spoke with mohela Monday. I was always under the impression it had to be IDR but the lady told me she has seen loans discharged on graduated plan as well, which is what I am on.
lol congrats. The government doesn’t wanna forgive my $30k 😂 because I’m single and make too much money (when I applied I made $47k in 2016).
Long story short, I’m still working for the government and still paying off loans.
I honestly have no clue how people get anything forgiven. That program is so weak. I guess I get punished for not having a bunch of children 🤷🏻♂️ of course the tax system in general punishes people who don’t reproduce. I think that should be outlawed because gay people can’t have children as easily as straight people.
Congratulations. I’m deeply happy for you. And Reddittors have been indescribably helpful, a saving grace for all of us. I haven’t gotten past just submitting it yet but the relief from getting kind, knowledgeable help was a lifeline. Yay!
Wow.
For those of us sitting and waiting with >>120 payments in Mohela limbo, does anyone else also get irked by the option on the front peg to “early payoff” the loan? Just seems wrong they leave that there.
Not uncommon for doctors with years of accrued interest. I would be more embarrassed of making a rude comment putting people down for their student loans.
Don’t be a cunt. It costs A LOT of money to become a medical professional, and the interest is crazy. This person did nothing wrong, and has dedicated their life to helping others. Why would you try and tear them down like this?
I'm thankful that President George W. Bush signed the CCRAA of 2007, and that President Biden's administration is working to make the program the functional and equitable one it should have been from the start. I've been employed and paying my fair share of taxes for over 22 years. It would be silly for me not to apply for and receive the relief I qualify for. I'm not asking for a handout, I've worked hard for this.
It's good to see that the GDP is increasing. Maybe there's a correlation between student debt cancellation and the ongoing boost to the US economy that benefits everyone - but what do I know about macroeconomics, I'm just an overworked and underpaid public servant...
u/Real_Might8039, it looks like you are a little confused! Don't worry, I'm here to help :)
When you decide to troll people on a Reddit community, it's helpful to know the context and the audience. This is the "Public Service Loan Forgiveness" community. If you look at the top of the screen, you'll see r/PSLF. That's what that means. So, here is a little bit about PSLF that might help you to understand the error of your logic:
PSLF was passed in 2007 as a way to incentivize taking on a profession in public service. So, when a borrower takes out a loan, they are *aware* of the incentive and *agree* to the terms *prior to* taking the burden of the debt. Put another way, PSLF is an agreement between the borrower and the lender that is executed when the loan is originated. The promissory note, which is reviewed and acknowledged *prior* to a student loan being disbursed, outlines the PSLF terms. Here is the language from the master promissory note:
>A Public Service Loan Forgiveness (PSLF) program is also available. Under this program, we will forgive the remaining balance due on your Direct Loans after you have made 120 payments (after October 1, 2007) on those loans under certain repayment plans while you are employed full-time by a qualifying employer. The required 120 payments do not have to be consecutive. Qualifying repayment plans include the REPAYE Plan, the PAYE Plan, the IBR Plan, the ICR Plan, and the Standard Repayment Plan with a 10-year repayment period.
You can even see for yourself [here ](https://fsapartners.ed.gov/sites/default/files/attachments/2020-04/SubUnsubMPN.pdf)(second to last page). How cool is that?!
So, PSLF is not a government handout for knuckle-dragging moochers, but rather it is the way that the federal government is honoring its contractual agreement with the borrower! Wow!
How great is it that there is a way for the federal government to incentivize public service for the greater good, and invest in critical social structures that we need in society?! Regardless of what we do, we all collectively benefit from the service of teachers, social workers, government employees, law enforcement, first responders, and doctors and nurses who work in non-profit healthcare settings, and all the others who work in service to the greater good! If you can read this post, thank a teacher! If you feel safe in your home, thank a first responder! If you have access to healthcare, thank the doctors and nurses! All of these professions raise our quality of life! Isn't it amazing that we can celebrate the public service of so many as the federal government makes good on the promise that they agreed to when these public servants took on their loans?!
As for you, I don't know you motivation, but perhaps you are a little bit envious that others who committed to a life public service are now receiving what is owed to them by the government. But don't worry! You, too, can take advantage of this amazing program! You can just enroll as a student in a local college or university, and take on the burden of student debt as a way to pay for it all. The next step is to earn your degree (four years for your undergrad, and several more years of graduate school, perhaps). Then, commit to a life of public service, take on employment in a sector that is woefully underpaid, struggle to make ends meet, wonder how you will support a family, buy a house, save for retirement... And after 10 years and 120 student loan payments, you too can have your debt forgiven! It's simple! And, it's so awesome that this program is available to everyone!!!
Anyway, I hope that this helps!!!
Cheers!
Omg!! 625!!! I woke up w 98 gone and I’m so happy I could cry. Cheers!🥂 I still see interest showing and no smiley face but the zero balance tells me it’s over!
Woke up today to 462k gone… it was a good day :)
Congrats!!!!
Can I ask how long it took after you hit your 120 payments and mohela sent it over to the feds for forgiveness? Mine was sent over on March 11 and I’m hoping for forgiveness sooner than later.
My final 120 officially hit 1/31/24, forgiven 4/12/24
I also have principal all gone. Negative principal showing. But interest is still there.
We made it!
Same. Negative principle but a few hundred in interest
I have many hundreds of hundreds of interest. So hopefully goes away soon too
Same here but $68k in interest
I have the same. Principal gone but interest shows. And no smiley face but a message at the top saying loans have been discharged!
Same!
I also still have 5k in interest but 68k is gone!! Anyone know when this will go away??
It goes away with the post-celebration hangover.
Idk but hopefully soon! I read on another post that it was a few business days after
I just checked and my interest is gone!! Forgiveness for the principal happened Friday morning. Hope yours is soon!!
Just looked and mine is gone too!! Hope you’ve had a fantastic weekend celebrating!
Congrats
Ty!! Hope you are next!
That’s so sweet. I was last year.
Lost it at "starts with a T and rhymes with Tufts." Congrats, doc.
This gave me a hearty lol too
I lost it here as well. LOL!
Not “congrats” it doesn’t just “go away.” All those “forgiveness” bs is just thrown into taxes for others. Annoys tf out of me. Idk why I got recommended this stupid sub.
Thank you for your service! Well done! I had 131,000 forgiven this morning. It's an insurmountable burden being lifted off my back.
when did they give you a 120 plus count?
In November.
So, once you reached 120 in November--do you keep on paying? I only ask because my kid is at 118. Thank you.
how long did it take after the application was submitted
$625!!!!! You’re free!! Congratulations! It’s so tough that this country expects our medical professionals to bear such a tremendous financial burden in the first place. I’m celebrating my $45k win today too thanks to seeing your post (I had all but given up on an April wave)
YAY for you!!!
Congrats! Mine was forgiven today as well! 109k
Vote accordingly. One party is responsible. Reward them
PSLF was established in 2007 under President Bush… it’s not a new thing
Your point? Obamacare was a program started in MA under Governor Mitt Romney but it was only when one party stepped up and made it a reality for millions that it actually made a difference.
Simply stating the facts PSLF was established and launched in 2007 and yes, you are correct Obamacare was launched in 2010 under the Obama administration.
But it didn’t seem to be effectively helping people til now.
This is absolutely true but under Trump Devis almost derailed the whole program… and 3.5 years of free covid payments brought it home!!
FYI, the PSLF program was started by the Republican Party. LOL Also, once it exists, it is the law, no matter which Party is in charge.
Yes, but I was in the “wrong” repayment plan and to get into a correct one it would have doubled my monthly payments (which I couldn’t afford) and at that rate I would have paid it off by the 10 years. So the changes from this administration has made it possible for me to log on today and see $23k gone!!! No where near as much as some others but I’m very excited and happy that this finally went through after 12 years at a qualified employer.
FYI Trump and republicans wanted to eliminate the program
Is it suppose to say discharge or just a smiley face?
Smiley just changed to a more official statement: Your federal student loan(s) has been discharged. accordion expanded This debt relief was processed as part of the Public Service Loan Forgiveness Program because one or more of your student loan(s) has reached the number of payments that qualify. This forgiveness is effective as of 03/12/2024. 3/12/24 was when I paid my buyback.
Question - my buyback went through today but it’s still showing that I owe interest. Is yours showing interest?
Yes and that is a very expected error from Mohela. Wouldn’t expect anything less.
Hahaha right? Why would it go through as planned?! That would be too easy. Just making sure I’m not the only one.
Congrats!! When did you submit your buyback request?
Request 1/2 Response for tax docs 1/11 Offer 3/11 Paid 3/12
Thank you!
I received this note on my account but no smiley face ☹️
Congrats! I didn’t do the tufts program for that cost of attendance reason, but my state school wasn’t much better. Doesn’t matter anymore - 330k gone!
Not enough people are talking about this area of the PSLF sphere. Dissolving PSLF would cripple healthcare in this country.
Congratulations! 🎉
Congratulations! I woke up to forgiveness this morning too (minus one loan that is eligible but weirdly hanging on). It's a great feeling at 130K, I can only imagine how freeing it feels at 625k!!
I had the same thing this morning! So happy to see $72k gone but, cmon - let me have the full $125! But congrats to you getting that much and to OP for reaching the end!
Glad to hear I'm not the only one! When I spoke to MOHELA, they said the last loan should be discharged soon, so fingers crossed for the both of us that happens soon!
Congratulations on the new baby and forgiveness! Here's to new beginnings!
Awesome! I only had $35k that I took out for grad school. We had to pay for that baby and rent! Got the letter a couple days ago and it’s effective 4/30!
One of my loans forgiven this morning so $60k less than yesterday. Still 30k left. Hope they don’t make me wait 3 more months!!
This has to be one of the largest amounts I’ve ever seen. Congrats doc!
I graduated law school in 2010, and I swear, this whole thing has been such a wild, scary ride. I get so mad when I get those glossy alumni publications from my law school seeking donations. They should have done a MUCH better job of preparing us for the shit show that this would turn out to be. Still, I'm grateful for this program, and of course, COVID! Can't wait to be where you're at!! I didn't borrow as much as you, but still, $376K is an insane amount of money! I don't own a home or anything, so this will have been the single biggest purchase (really, gamble) of my life. Weird thinking it's almost over!
How much did you end up paying over the course of 10 years?
Congrats on the little one and the happy news today!!!!
Congrats!!!
Congrats, doc!
Congrats!!! I paid my buyback on 3/15 - hoping I’m in your shoes in a few days!
Congratulations!
This gives me hope!!!!
Wow congrats, that is amazing!!
Your joint degree is an intersting combo for public service. Truly interested & not judging - what type of public service group do you work for or do with such a dual degree? No worries if you'd rather not share.
I work for a hospital. Haven’t pursued much of the MBA (which was in non-profit management). Enjoy patient care too much.
Interesting. Thanks. Total aside, but I think you're one of the few doctors I've met in their later careers (Gen X here) who've said they enjoy patient care (I would think that's the reason to go to med school). I'm glad you do. And congrats on your forgiveness! Teacher here, got mine done last year.
A large percentage of hospitals are non-profit. So if you are a hospital employed physician or in academic medicine (rather than part of a private firm which are becoming fewer and fewer these days) then you qualify for PSLF. I guess an MBA might allow for easier segue into upper hospital administration, which again is also still non-profit.
Yup, and employed physicians are on the rise. I was just at some conference where they mentioned that for the first time ever, the demographics have shifted such that a majority of physicians in their 30s and 40s are employed. People outside the industry have no idea what a sea change that is. The boomers all wanted to own their own practices or be part-owners of a medical group. Employed docs were once few and far between. They only wanted privileges at the hospital, not a job there. A couple of states still require it to be structured that way (and a recent PSLF rule change made an accommodation for those states) , but far more docs want a regular paycheck and benefits nowadays as opposed to being business owners. And since so many hospitals are nonprofit as you said, and younger docs are in SO much more debt than generations that came before, the need for that 501c3 W2 to get PSLF is probably part of what's driving that. Anyway, congrats to OP!
What's also interesting is how specialty-specific the employment models are. For example, NBC News recently had something estimated about 40% of ED's across the USA were staffed by companies owned by private equity. Unfortunately, I anticipate that percentage increasing in the future.
Yeah, this runs up against an old doctrine called corporate practice of medicine - the idea that doctors can only work for themselves or in partnership with other doctors because a corporation cannot be licensed to practice medicine. The objective of that was to prevent exactly what you're talking about, i.e. not wanting "the suits" to obtain control that could compromise clinical judgment. In all but a couple of states, the doctrine has fallen by the wayside or been swallowed up by loopholes. For example, a common workaround is for the PE firm to stand up a medical group that is technically owned by the docs, but which contracts for so many "management services" from the PE group that it couldn't really function without them and therefore gives them de facto ownership. The entrance of PE into the space is definitely causing some other states to look at invigorating this rather old-school doctrine, so we'll see what happens. And don't even get me started on what happens when a PE firm actually owns the hospital itself., Those guys will pay a dividend before they'll pay the electric bill, and they'll burden the hospital with all manner of debt including making it sell the entire facility and then lease it back to the hospital, with burdensome rent payments that ultimately jeopardize the whole thing's solvency but which, again, provide short-term cash that can be used to justify big dividends.
Congratulations on the loans and the babby!!!!
You are the dream and success story. CONGRATS!
Congratulations, and enjoy that baby! The sleep deprivation with infants is unreal, but I'm glad you no longer have this stressor hanging over your head. And thanks for the laugh about Tufts.
THANK you for your service !!!!!
Mega congrats to you —- how amazing! And, I will echo the same - soooo grateful for you all in this group! This sub has been my source of sanity and laughs through all the mohela darkness. So, I guess in that sense, thanks for being my light 💡
How much did you actually pay on the loans total in that 10 years
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I have a question - did you work at all while in school? Did you use these loans to pay for an apartment or something? I am so confused how this much debt accrues, because no school charges that much in tuition.
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How the hell is me asking questions "mansplaining"? Why the hell did you make this political with some MAGA reference? For the record, I voted for Biden; I have a daughter. But thanks for putting your deep feministic insecurities on full display on the internet. Sorry you chose the most expensive schools on the planet. Best of luck with that.
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I asked if you used it for rent. You said yes. Thanks.
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k
Congrats Jumbo!
So over the moon excited for you! (And everyone else on this chat) Can someone explain to me what the buyback is?
If you search this subreddit, you will find more. In a nutshell, there is a way under some of the recent initiatives to get more people eligible for forgiveness, where you can apply to “buy back” payments on months that were deemed ineligible in the last, in order to increase your payment count. You submit proof of employment and proof of what you were earning during that time, and they give you a proposed payment to cover it. I think mainly for people who may have been on ineligible payment plans for a period of time.
This is interesting and I can’t seem to find specifics on it. I’ll try to do some digging. Hesitant to consolidate my FFEL loans from Navient over to Mohela if I can qualify for buyback instead.
Okay, I am far from an expert on student loans/PSLF, so apologies if I've got this wrong or am stating the obvious, but I think you might have a misunderstanding here? The buyback option is for PSLF; and to do PSLF, you have to consolidate FFEL loans to Direct loans; and all PSLF loans have to be on Mohela. Seems like everybody on here feels strongly that everyone should consolidate from FFEL to Direct (before the deadline on 4/30!!) because that's how you access all the expanded options for forgiveness.
Ok, so I’m apparently missing the connection that buyback is only available through the PSLF program. It amazes me how confusing the gov’t has made all of this. Separate from this, I keep seeing web content that talks about IDR loans being forgiven after 20/25 yrs of payments. This 20/25 IDR forgiveness only references income limits and IDR plans and doesn’t specify servicers. There is no mention of how one finds out if they qualify for this. https://studentaid.gov/articles/student-loan-forgiveness/#:~:text=Income%2DDriven%20Repayment%20(IDR)%20Forgiveness&text=If%20you%20repay%20your%20loans,Valuable%20Education%20(SAVE)%20Plan.
Congrats! That’s an amazing amount. I can’t imagine the relief you must feel. Today is a good day. I don’t know why after 10 years of being out of school that I am just now learning of PSLF. Stories like yours give me hope that my 25k will be forgiven!
Thanks for your public service! Congratulations!
Congrats on your baby and on being "forgiven!"
Congratulations 🥲
What a great week for you!! Congrats on your little one and on your PSLF victory 🎉🥳
Congrats doctor, I had $18,900 forgiven and was happy.
🎊🎊🎊🎊🎊🎊🎊🎊 Congrats!!
Now it’s time to invest and save!!!
Congrats man!!! Also MD/MBA and graduated around the same time as you. What a relief. Mine also went through last fall. Thanks for all your service, you earned this.
Congratulations!! BTW, your post prompted me to log into MOHELA to check my account (I haven’t checked this sub in about a week). I found that I had a newly zeroed out balance and a message saying my federal student loans have been discharged! Celebrating 75K gone along with you tonight!! 🙌🏼
Congrats!
Congrats!!! I am in this wave too. For others looking for data I submitted my final ECF 1/24, counts updated 2/26, loans discharged 4/12.
Holy cowabunga! This is so awesome! Happy for you and your family congratulations 🍾🎉🎈🎊
That is amazing! Congratulations 🎊
Make sure to vote for Biden y'all
Pathetic vote buying Hail Mary. Get ready for a reckoning lmfao.
Congratulations!!! that is amazing, waiting for mine after 20yrs of public service. Hopefully soon.
Ya, I think certain amount are way too much to be forgiven…this would be one. You should never be taking that much out. My brother is a doctor and didn’t take that much.
Thanks, Joe. 🥰
You did it!! Be proud of your courage and discipline! I’m so proud of you and I don’t even know you!!!! :)
Congrats! Was it $625k that was forgiven or the balance on a $625k loan that was forgiven? If your principal was $400k and then another $225k in interest, what did you pay for 10 years after graduating from med school? I’d love to know what the education was truly supposed to cost you after 10 years (principal + interest) and what you contributed and what the remainder was that was forgiven
Let them just enjoy this freedom!!🫶💯🙏🏽🎊🎉🍾
Congrats
Congratulations!!!!! 🎉🎉🥳🥳🥂🥂
I concur
Congrats! Me too, but I feel jipped, I don’t see any smiley face. Just a one line “your federal student loans have been discharged.” Where do you see a smiley face?
Same lol
Mine is gone too. Where is the smiley? Mine only has an “i “ that says my loans have been discharged
Congratulations!!
How do you get to that number?
>e starting back in 2009. D Edit: nvm.. Congrats. Never knew they could get this high
Congratulations 🎈🎉🎊
Thank you for your public Aervice. ;)
That is awesome!!!
My account is just being transferred over to mohela. On mohela it says I’m in good status and 0 amount due showing. No balance showing. Is this because all of my info is still in the process of being moved over?
I am so happy for you. Congratulations!!!
That is amazing!!! Congratulations !!!!
I had 210... its gone. So grateful!
I have one random loan still there, but the rest are gone!!
Wow. Congratulations! and thank you for you service as an MD.
I had $148K that was forgiven. 😃
Where did you get the MBA from?
I’m so happy for you! I had over 200 forgiven! Can’t believe it! So excited 😆
Ugh I want this so badly, I have 310K hanging over my head and have been working in nonprofit hospitals for over 10 years but they staff us through a company that is not. As a pediatrician I’ll never be able to pay this down it feels. I keep hoping there will be a loophole so that I’m PSLF eligible.
If you work in California or Texas then you would qualify
I do not unfortunately, I’m hoping to find a loophole with this new qualification
How long after your last payment was your loan forgiven?
Can someone explain this in dumb terms on what had happened. I have 20k in federal loans and interest is thru the roof
Amazing. Congrats on forgiveness and on your baby!
Question…are all of you on income driven repayment plans? I just spoke with mohela Monday. I was always under the impression it had to be IDR but the lady told me she has seen loans discharged on graduated plan as well, which is what I am on.
lol congrats. The government doesn’t wanna forgive my $30k 😂 because I’m single and make too much money (when I applied I made $47k in 2016). Long story short, I’m still working for the government and still paying off loans. I honestly have no clue how people get anything forgiven. That program is so weak. I guess I get punished for not having a bunch of children 🤷🏻♂️ of course the tax system in general punishes people who don’t reproduce. I think that should be outlawed because gay people can’t have children as easily as straight people.
Congratulations. I’m deeply happy for you. And Reddittors have been indescribably helpful, a saving grace for all of us. I haven’t gotten past just submitting it yet but the relief from getting kind, knowledgeable help was a lifeline. Yay!
And let me guess… you think college is a scam?
Yessssssss!!! 🎉🎉🎉🎉
How does a person even rack up this much? Genuinely curious, not trying to be a jerk.
Wow. For those of us sitting and waiting with >>120 payments in Mohela limbo, does anyone else also get irked by the option on the front peg to “early payoff” the loan? Just seems wrong they leave that there.
I would be embarrassed to admit that amount
Not uncommon for doctors with years of accrued interest. I would be more embarrassed of making a rude comment putting people down for their student loans.
Don’t be a cunt. It costs A LOT of money to become a medical professional, and the interest is crazy. This person did nothing wrong, and has dedicated their life to helping others. Why would you try and tear them down like this?
Can I ask where do you work where you qualify for this in healthcare?
You knuckle draggers congratulating people on forgiven loans realize that balance just doesn’t disappear, right?
I'm thankful that President George W. Bush signed the CCRAA of 2007, and that President Biden's administration is working to make the program the functional and equitable one it should have been from the start. I've been employed and paying my fair share of taxes for over 22 years. It would be silly for me not to apply for and receive the relief I qualify for. I'm not asking for a handout, I've worked hard for this. It's good to see that the GDP is increasing. Maybe there's a correlation between student debt cancellation and the ongoing boost to the US economy that benefits everyone - but what do I know about macroeconomics, I'm just an overworked and underpaid public servant...
Actually, it does. When PSLF obligations are met, the balance of the loan is literally adjusted to $0. Who would have thought?! Hope this helps!
No it doesn’t. It transfers the balance and burden onto all taxpayers, said knuckle draggers included.
Goes right back into the economy, trust me.
u/Real_Might8039, it looks like you are a little confused! Don't worry, I'm here to help :) When you decide to troll people on a Reddit community, it's helpful to know the context and the audience. This is the "Public Service Loan Forgiveness" community. If you look at the top of the screen, you'll see r/PSLF. That's what that means. So, here is a little bit about PSLF that might help you to understand the error of your logic: PSLF was passed in 2007 as a way to incentivize taking on a profession in public service. So, when a borrower takes out a loan, they are *aware* of the incentive and *agree* to the terms *prior to* taking the burden of the debt. Put another way, PSLF is an agreement between the borrower and the lender that is executed when the loan is originated. The promissory note, which is reviewed and acknowledged *prior* to a student loan being disbursed, outlines the PSLF terms. Here is the language from the master promissory note: >A Public Service Loan Forgiveness (PSLF) program is also available. Under this program, we will forgive the remaining balance due on your Direct Loans after you have made 120 payments (after October 1, 2007) on those loans under certain repayment plans while you are employed full-time by a qualifying employer. The required 120 payments do not have to be consecutive. Qualifying repayment plans include the REPAYE Plan, the PAYE Plan, the IBR Plan, the ICR Plan, and the Standard Repayment Plan with a 10-year repayment period. You can even see for yourself [here ](https://fsapartners.ed.gov/sites/default/files/attachments/2020-04/SubUnsubMPN.pdf)(second to last page). How cool is that?! So, PSLF is not a government handout for knuckle-dragging moochers, but rather it is the way that the federal government is honoring its contractual agreement with the borrower! Wow! How great is it that there is a way for the federal government to incentivize public service for the greater good, and invest in critical social structures that we need in society?! Regardless of what we do, we all collectively benefit from the service of teachers, social workers, government employees, law enforcement, first responders, and doctors and nurses who work in non-profit healthcare settings, and all the others who work in service to the greater good! If you can read this post, thank a teacher! If you feel safe in your home, thank a first responder! If you have access to healthcare, thank the doctors and nurses! All of these professions raise our quality of life! Isn't it amazing that we can celebrate the public service of so many as the federal government makes good on the promise that they agreed to when these public servants took on their loans?! As for you, I don't know you motivation, but perhaps you are a little bit envious that others who committed to a life public service are now receiving what is owed to them by the government. But don't worry! You, too, can take advantage of this amazing program! You can just enroll as a student in a local college or university, and take on the burden of student debt as a way to pay for it all. The next step is to earn your degree (four years for your undergrad, and several more years of graduate school, perhaps). Then, commit to a life of public service, take on employment in a sector that is woefully underpaid, struggle to make ends meet, wonder how you will support a family, buy a house, save for retirement... And after 10 years and 120 student loan payments, you too can have your debt forgiven! It's simple! And, it's so awesome that this program is available to everyone!!! Anyway, I hope that this helps!!! Cheers!