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  • #16
    Any update in the last four days? No.
    Helping those who wear the white coat get a fair shake on Wall Street since 2011

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    • #17
      doing a lecture about student loans on thursday, still radio silence?

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      • #18




        doing a lecture about student loans on thursday, still radio silence?
        Click to expand...


        Found one on Reddit, but they're still in the waiting period between submission of final paperwork and notice of forgiveness. Not a doc either. And probably not willing to go public.
        Helping those who wear the white coat get a fair shake on Wall Street since 2011

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        • #19
          Over the years a number of physicians with 80-100+ payments consulted with us 'just to make sure' they were on track for PSLF. Without exception all of these smart people carefully made and recorded on-time monthly payments. However, in every case they missed a detail, either:

          1. They weren't aware of their type of loan (FFEL) and failed to apply for a Direct Consolidation loan;

          2. They weren't on a qualifying repayment plan.

          The pool of potential borrowers on track for forgiveness is very small. According to financial aid professionals at NASSFAA, from an article in December 2016, "during a session at the Federal Student Aid (FSA) Training Conference for Financial Aid Professionals, ED officials stated that only 139 borrowers are on track to have their loans forgiven in 2017 through the Public Service Loan Forgiveness (PSLF) program."

          Have you looked at the PSLF forgiveness application? Link.

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          • #20
            Good information- 139 huh. It'll grow. The good news for those currently in the program is no one is going to be looking very closely at it for as long as the numbers stay small. The might be another 3 or 4 years, giving people plenty of time to get grandfathered in.
            Helping those who wear the white coat get a fair shake on Wall Street since 2011

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            • #21
              Image result for golden ticket willy wonka

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              • #22
                I ended up dumping my 6.8% loans, consolidating. Never looked back. We deal with enough risk in the ED.

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                • #23
                  According to someone on the Physicians Mom Group on Facebook, they called and a senior officer at FedLoans confirmed that 4 physicians got their loans through and remainder foregiven successfully. Seems they’re not wanting to be public about it. Maybe good to keep it under the radar.

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                  • #24
                    I have heard tell of a physician who applied for and successfully had her loans forgiven as was casually dropped at a baby shower I attended last weekend. Let's just say I made the baby shower a whole lot less enjoyable for everyone else with my sudden excitement/taking over the conversation.

                    I'm trying to get our mutual acquaintance to put us in touch but the acquaintance does not share my (or your) sense of urgency, sigh.

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                    • #25
                      Sounds like it is happening. I suspect it'll slowly snowball over the next 2-5 years at which point it will be common to know people who received PSLF.
                      Helping those who wear the white coat get a fair shake on Wall Street since 2011

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                      • #26
                        Unfortunately I just learned that my FFEL loans were not considered part of my initial consolidation. Those loans account for ~1/4 of my total loan burden I was considering under PSLF.

                        I highly recommend that residents, fellows, and new attendings certify through PSLF every year (submit the PSLF form with employer certification). If you submit in year 1 of residency, you will know right away which loans do and do not qualify. Then, you can figure out options for your long term plan accordingly. Residency is busy, and I didn't make this form a priority.

                        By this time the lenders have changed hands multiple times, so what is done is done. I never got the memo about this and now I'm learning all of this a little too late. I really didn't see much information about the FFEL loans when I was initially consolidating (I was under the impression I had consolidated whatever needed to be consolidated - and this was verbally confirmed by loan officers when I consolidated).

                        I am not relying on PSLF (I was never sure if it would truly happen, though I planned for and am in a rewarding career of public service in facilities serving underserved patients). If necessary and nothing was every forgiven, I wouldn't be thrilled, but I would be ok.

                        But, I have a lot of friends with high debt burdens who are relying entirely on this program...

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                        • #27
                          Biglaw Investor just interviewed someone who had $185k forgiven:

                          An Interview with a Person Who Received PSLF Forgiveness

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                          • #28
                            Wow, that's an awesome read.

                             

                            Still not sure if I have the patience to wait 8 years with my current debt load hanging over my head.

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                            • #29
                              Saw another one in The NY Times today. Not a doc but was another example of the program going through.  If the below part is true there’s very good reason we haven’t heard many stories - just aren’t many far down the road in the program:

                              https://mobile.nytimes.com/2018/05/04/your-money/student-loan-forgiveness.html?smid=fb-nytimes&smtyp=

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                              • #30
                                Sadly I think the volume of people eligible won't start to be a meaningful amount until 2020 at the earliest. The vast majority of people who graduated before 2010 had only FFEL loans so we're largely screwed out of years of repayment. The savviest consolidated to Direct in 2010 when the PSLF program made it clearer you needed to be in that type. Many of us didn't notice that and didn't consolidate until much later. I am so angry about this fact but I don't know what to do.

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