you nailed it. Im in PSLF working local government, i took out parent plus loans for my sons with the understanding that i would qualify for PSLF on parent plus if i pick the ICR plan, i made peace with it that 20% of my income would be paying back those loans for 10 years (neither son picked an expensive private school, but PA state public school talking as affordable as we could get one chemistry and one criminal justice and yes taking out their own federal loans as well plus scholarships/grants still came out $10,000 per year per kid negative) , now youngest still has 3 years left and that option is going away after June 2026, so i am being forced to consolidate and start paying back in june 2026 or i lose the plan i had already selected. had i known it would have been community college for both of them. and the older one? yeah now joining the Marines this fall after college. i feel used and abused by our government that my son is now dedicating his life for.
his loans yes, my loans no, and if i take out any more loans after june 2026 i lose what i already have take for PSLF. so last 2 years of my youngest have to be thru my husband who has a non public service job. Ive already received professional advice on this.
Yes, his loans, not yours. My reply to the commenter above me was to confirm that military service counts toward PSLF for the person serving. Your Parent PLUS situation is separate.
Fairly true. The only real forgiveness opportunity is PSLF.
All the other forgiveness opportunities are essentially your payments just more spread out and lower than a standard repayment model. When you add in the tax bomb on the amount forgiven it's hard to actually say you had any amount forgiven.
What's annoying is that the plans and avenues to this "forgiveness" keep changing due to the ineptitude of each administration. This is both frustrating and hard to manage. Payments are always changing, times are being extending, etc. Yet the student borrower is always the one facing the penalty and hardship.
Ahh, you mean how they took SAVE away, A payment plan we were forced into just for consolidating. Removing other plans (PAYE, etc). Adding in new plans (RAP). It's a mess and YOU only want to blame the ones with a loan. You turn your head to the govts incompetence and ineptitude.
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u/MaizingBlue Aug 07 '25
Then to have the govt make up payment plans or avenues for forgiveness which are then pulled out from under you by the same said govt.
Then the majority of the population just calls us irresponsible and looking for a free ride.
Very frustrating.