The Truth About Student Loan Forgiveness

Student Loan Forgiveness sounds like a dream for those swimming in debt leftover from college but is student loan forgiveness worth it in the long run?
  1. Sierra says:

    Great post, and I like how you point out that everyone’s situation is unique. It can be difficult to know what’s right and lately, there have been a lot of negative light shed on loan forgiveness plans! For me, I am in the Income Driven Loan forgiveness program, with PSLF, so this is my best option, as paying down this debt before 10 years will be nearly impossible. I have about 5 more years. There are additional benefits with PSLF, like no taxes. We are a one-income family. Our only debt is my Master’s student loans and our mortgage. My goal is to make sure that these our only two debts!

    • Nikki says:

      And just to note, if you are in the 10 year program and stop working at one of the qualifying employers for a year as an example. You can still pick up where you left off if you return to a qualifying employer.

  2. Raquel says:

    Hi Kumiko,
    Thank you for this very informative post. I have a student loan totaling $97,000 for my masters and doctoral degrees. I’m looking at retiring in the next 2 years and picking up a part time teaching job. I would like to pay off this debt -my only debt before I retire. I was considering refinancing the loan to lower my payments. Are there loan companies you would recommend? Your thoughts regarding my plan? Any advice is very much appreciated

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