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Have 150k in LS loans, qualify for PSLF. Get an MBA?
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Date: May 12th, 2013 2:44 PM Author: Chrome Weed Whacker It will basically be free, right? I can go part time while working at my non profit job (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23183454) |
Date: May 12th, 2013 2:57 PM Author: plum tantric ticket booth hell, get two. (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23183542) |
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Date: May 12th, 2013 2:58 PM Author: Chrome Weed Whacker Am I understanding PAYE and PLSF correctly? Basically a free loan at this point, right? My loans are currently in deferment (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23183552) |
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Date: May 12th, 2013 4:03 PM Author: plum tantric ticket booth I dunno bro. getting the government to pay off your debts is for losers. if you have the opportunity to have yourself bailed out, go for it. but don't go looking for approval here if youre serious about trying to fuck the system. (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23183939) |
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Date: May 12th, 2013 4:06 PM Author: Yapping Multi-billionaire Sneaky Criminal I'm against the PAYE system, but it's kind of stupid not to take advantage of opportunities like this if you think they're good for you. Big business takes advantage of shitty subsidies and tax incentives all the time. (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23183963) |
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Date: May 12th, 2013 4:15 PM Author: plum tantric ticket booth being a leach and wasting time in useless grad programs is not good for you. (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23184058) |
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Date: May 12th, 2013 4:17 PM Author: Yapping Multi-billionaire Sneaky Criminal true, I would not really do this but the incentive is there and for someone who dreams of getting a degree in some shitty humanities field and has no career prospects, I think it's actually probably a good idea for them personally. (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23184087) |
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Date: May 12th, 2013 4:06 PM Author: Chrome Weed Whacker boomers got more than their share of handouts. same with so many other groups in the counTTTry. it's my turn. consider it repayment for the social security ponzi scheme i paid into (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23183965) |
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Date: May 12th, 2013 4:13 PM Author: plum tantric ticket booth yes youre really sticking it to the boomers by getting useless 50k/yr graduate degrees, the proceeds from which go right into boomer pockets, and then having the government bail you out with money borrowed from china, the effects of which wont really be felt until the boomers are near or past death and which will eventually contribute to the disintegration of the economy of the country in which you have to live for the next fifty years. (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23184038) |
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Date: May 12th, 2013 4:15 PM Author: avocado effete station lol (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23184055) |
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Date: May 12th, 2013 2:58 PM Author: avocado effete station All future education is free, so yeah, max it out. Go for max loans. Maybe do a few bullshit online masters and travel the world. (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23183549) |
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Date: May 12th, 2013 2:59 PM Author: Chrome Weed Whacker What's the federal max? (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23183555) |
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Date: May 12th, 2013 3:01 PM Author: avocado effete station Lol, there is no max, bro. That's the beauty of it. (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23183569) |
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Date: May 12th, 2013 3:14 PM Author: Flesh geriatric home famous landscape painting Sign up for a few dozen online degrees at the same time, cop that living expense loan for each, ball hard. (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23183649) |
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Date: May 12th, 2013 4:01 PM Author: plum tantric ticket booth (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23183923) |
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Date: May 12th, 2013 4:04 PM Author: Yapping Multi-billionaire Sneaky Criminal Yeah, I've been thinking about this lately. Any reason not to go get a vanity Masters Degree in Philosophy or something worthless like that, rack up an extra $100k in loans for 2 years? (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23183948) |
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Date: May 12th, 2013 4:05 PM Author: avocado effete station No reason not to. (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23183956) |
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Date: May 12th, 2013 4:07 PM Author: Yapping Multi-billionaire Sneaky Criminal sweet man, I'm gonna see what Harvard MA programs I can get into. (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23183970) |
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Date: May 12th, 2013 4:16 PM Author: Supple reading party mother (guy who can't get into any Harvard MA programs) (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23184074) |
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Date: May 12th, 2013 4:19 PM Author: Yapping Multi-billionaire Sneaky Criminal I'll just get a Pacific Studies MA from U of Hawaii then. (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23184097) |
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Date: May 12th, 2013 4:07 PM Author: cream dilemma karate Debt fucks you for other borrowing (e.g. mortgage loans) even with a forgiveness plan, and the new debt will only be forgiven 10 years after it's taken out, not at the same time as the old debt. (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23183971) |
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Date: May 12th, 2013 4:11 PM Author: Chrome Weed Whacker yah but i haven't started paying off my loans yet. copped that forbearance. my plan is to get the part-time MBA, delay paying back LS loans for another 2-3 years, get some living expense loan money to bank away, then start my 10-year PSLF repayments (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23184009) |
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Date: May 12th, 2013 4:12 PM Author: cream dilemma karate A forbearance is dumb if you're PAYE eligible. You can just enroll in PAYE with no income and have the time count towards your forgiveness period. Your clarified plan causes all the problems I suggested in my first post, plus it drags out your original debt burden. |
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Date: May 12th, 2013 4:15 PM Author: Chrome Weed Whacker i live in a rent-stabilized apt in MFH that's well under market value. i ain't getting a mortgage anytime soon. i work full-time now, so i don't have zero income. (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23184068) |
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Date: May 12th, 2013 4:16 PM Author: cream dilemma karate You're confident you won't want a mortgage or other loan in the next 12 years? You wouldn't qualify for forbearance with a full-time job. |
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Date: May 12th, 2013 4:18 PM Author: Chrome Weed Whacker deferment or whatever it is. you can avoid paying fed loans back for 3 years, no questions asked (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23184095) |
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Date: May 12th, 2013 4:23 PM Author: cream dilemma karate That's not true at all. 3 years is the maximum deferment period if you're unemployed. There's no program to avoid payment if you're working full time unless your income is so low that PAYE/IBR don't require payment. http://studentaid.ed.gov/repay-loans/deferment-forbearance#what-is-deferment |
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Date: May 12th, 2013 4:24 PM Author: Chrome Weed Whacker it's def possible. you can defer even if you're employed (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23184140) |
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Date: May 12th, 2013 4:27 PM Author: cream dilemma karate While employed full-time? Link? (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23184164) |
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Date: May 12th, 2013 4:28 PM Author: Chrome Weed Whacker i dont need a link. i'm doing it and so is my friend (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23184173) |
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Date: May 12th, 2013 4:28 PM Author: cream dilemma karate A few missteps ruined your flame. (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23184176) |
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Date: May 12th, 2013 4:45 PM Author: Chrome Weed Whacker believe whatever you want. it's not flame (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23184313) |
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Date: May 12th, 2013 4:10 PM Author: Bat-shit-crazy ebony kitty part time MBA's are worthless. why waste your time? (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23183997) |
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Date: May 12th, 2013 4:14 PM Author: Chrome Weed Whacker not if it's columbia (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23184050) |
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Date: May 12th, 2013 4:21 PM Author: Bat-shit-crazy ebony kitty so how does this work? You sit on your ass for ten years afterwards making 75K? Does your life really improve with an MBA if you can't make money? (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23184119) |
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Date: May 12th, 2013 4:23 PM Author: Chrome Weed Whacker i'm a professor. i'll be able to teach in b-school, consult, maybe become a high paid dean or VP. regardless, if i can get a MBA from a top school for free, why not do it? i can even take a paid sabbatical for a year and get it (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23184132) |
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Date: May 12th, 2013 4:23 PM Author: cream dilemma karate False. (http://www.autoadmit.com/thread.php?thread_id=2254013&forum_id=2#23184137) |