Public Student Loan Forgiveness Program Rejects 99% of Applicants

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SelfEmployed123
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Public Student Loan Forgiveness Program Rejects 99% of Applicants

Post by SelfEmployed123 » Fri Sep 28, 2018 7:13 am

There have been many stories recently in the media regarding the Public Student Loan Forgiveness Program. The program was created 10 years ago, so the first round of applicants have been applying for loan forgiveness starting this year. As this story from the New York Times shows, 99 percent of applicants to the PSLF program were rejected: https://www.nytimes.com/2018/09/27/busi ... eness.html. Out of 28,000 people who applied for loan forgiveness so far this year, only 96 received student loan forgiveness.

This is a program I was considering applying for at one time before eventually deciding to just make payments on my student loans. I know numerous colleagues working in public service, many with over $100k or $200k in graduate loans who are hoping to utilize this program. For those unfamiliar with it, the way the program is supposed to work is that those with qualifying federal student loans work for 10 years in a government or non profit job while making payments on their student loans. After 10 years, the federal government is supposed to forgive the remaining balance on the student loans (as long as the loans qualify). It appears the federal government has never given firm guidance to the administrator of the program regarding how to evaluate whether applicants meet the requirements. It seems like those in the federal government reviewing applications are being as strict as they possibly can be. I highly doubt when PSLF was created 10 years ago under the Bush administration that the program was intended to have such a low acceptance rate. It is clear that the vast majority of people who have attempted to participate so far, including many highly educated people, have been unable to successfully navigate the program.

It's almost as if the government wants to just get rid of the program, but has not been able to do so yet. For those of you considering participating in PSLF, this is definitely something to keep in mind as you try to navigate this process. Based on the results so far I would not recommend this program to anyone.
"Get what you can, and what you get hold, 'Tis the stone that will turn all your lead into gold." | -Benjamin Franklin

sawhorse
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Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

Post by sawhorse » Fri Sep 28, 2018 7:26 am

Wow, thanks for posting this. Many times on this board, in discussions about whether to take on student debt and whether to take a certain job, references to public service student loan forgiveness.

Is it safe to say that this should not be a major factor for people deciding whether to take student loans or whether to take a certain job?

SelfEmployed123
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Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

Post by SelfEmployed123 » Fri Sep 28, 2018 7:33 am

OnTrack2020 wrote:
Fri Sep 28, 2018 7:25 am
The program should not have been created in the first place. If you take out a student loan, expect to pay it back. People should not expect to get a free college education.
Regardless of what one thinks about the program, the program exists. It is clearly not a viable option for the vast majority of people. I just wanted to make sure people were aware of that as I've seen multiple posts by people asking whether they should participate in the program.
sawhorse wrote:
Fri Sep 28, 2018 7:26 am
Wow, thanks for posting this. Many times on this board, in discussions about whether to take on student debt and whether to take a certain job, references to public service student loan forgiveness.

Is it safe to say that this should not be a major factor for people deciding whether to take student loans or whether to take a certain job?
I think it is safe to say that no one should be relying on this program. It is most prudent to consider other options including taking on less student loans or pursuing higher-paying private sector jobs in order to pay off your loans faster. The later option will only be available to some. Many people are going to be hurt by this policy.
"Get what you can, and what you get hold, 'Tis the stone that will turn all your lead into gold." | -Benjamin Franklin

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Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

Post by dwickenh » Fri Sep 28, 2018 7:49 am

SelfEmployed123 wrote:
Fri Sep 28, 2018 7:13 am
There have been many stories recently in the media regarding the Public Student Loan Forgiveness Program. The program was created 10 years ago, so the first round of applicants have been applying for loan forgiveness starting this year. As this story from the New York Times shows, 99 percent of applicants to the PSLF program were rejected: https://www.nytimes.com/2018/09/27/busi ... eness.html. Out of 28,000 people who applied for loan forgiveness so far this year, only 96 received student loan forgiveness.

This is a program I was considering applying for at one time before eventually deciding to just make payments on my student loans. I know numerous colleagues working in public service, many with over $100k or $200k in graduate loans who are hoping to utilize this program. For those unfamiliar with it, the way the program is supposed to work is that those with qualifying federal student loans work for 10 years in a government or non profit job while making payments on their student loans. After 10 years, the federal government is supposed to forgive the remaining balance on the student loans (as long as the loans qualify). It appears the federal government has never given firm guidance to the administrator of the program regarding how to evaluate whether applicants meet the requirements. It seems like those in the federal government reviewing applications are being as strict as they possibly can be. I highly doubt when PSLF was created 10 years ago under the Bush administration that the program was intended to have such a low acceptance rate. It is clear that the vast majority of people who have attempted to participate so far, including many highly educated people, have been unable to successfully navigate the program.

It's almost as if the government wants to just get rid of the program, but has not been able to do so yet. For those of you considering participating in PSLF, this is definitely something to keep in mind as you try to navigate this process. Based on the results so far I would not recommend this program to anyone.
Thanks for posting the results to this point, but this is a short time span to make a decision on the entire program.
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SelfEmployed123
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Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

Post by SelfEmployed123 » Fri Sep 28, 2018 7:55 am

dwickenh wrote:
Fri Sep 28, 2018 7:49 am
SelfEmployed123 wrote:
Fri Sep 28, 2018 7:13 am
There have been many stories recently in the media regarding the Public Student Loan Forgiveness Program. The program was created 10 years ago, so the first round of applicants have been applying for loan forgiveness starting this year. As this story from the New York Times shows, 99 percent of applicants to the PSLF program were rejected: https://www.nytimes.com/2018/09/27/busi ... eness.html. Out of 28,000 people who applied for loan forgiveness so far this year, only 96 received student loan forgiveness.

This is a program I was considering applying for at one time before eventually deciding to just make payments on my student loans. I know numerous colleagues working in public service, many with over $100k or $200k in graduate loans who are hoping to utilize this program. For those unfamiliar with it, the way the program is supposed to work is that those with qualifying federal student loans work for 10 years in a government or non profit job while making payments on their student loans. After 10 years, the federal government is supposed to forgive the remaining balance on the student loans (as long as the loans qualify). It appears the federal government has never given firm guidance to the administrator of the program regarding how to evaluate whether applicants meet the requirements. It seems like those in the federal government reviewing applications are being as strict as they possibly can be. I highly doubt when PSLF was created 10 years ago under the Bush administration that the program was intended to have such a low acceptance rate. It is clear that the vast majority of people who have attempted to participate so far, including many highly educated people, have been unable to successfully navigate the program.

It's almost as if the government wants to just get rid of the program, but has not been able to do so yet. For those of you considering participating in PSLF, this is definitely something to keep in mind as you try to navigate this process. Based on the results so far I would not recommend this program to anyone.
Thanks for posting the results to this point, but this is a short time span to make a decision on the entire program.
My thoughts are mainly aimed toward people not yet enrolled. For those already committed or on the path, I would probably wait and see. When the program was presented to me by colleagues, there was generally an assumption that most people would qualify. A 99% rejection rate is pretty scary, especially if you have 6 figures in loans.
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wabbajack
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Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

Post by wabbajack » Fri Sep 28, 2018 7:57 am


SelfEmployed123
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Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

Post by SelfEmployed123 » Fri Sep 28, 2018 8:00 am

wabbajack wrote:
Fri Sep 28, 2018 7:57 am
Headlines may be misleading.
Thanks for posting. I hadn't seen that article. Clearly you have to have all of your ducks in a row to have a shot of making this program work.
"Get what you can, and what you get hold, 'Tis the stone that will turn all your lead into gold." | -Benjamin Franklin

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Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

Post by jehovasfitness » Fri Sep 28, 2018 8:21 am

michaeljc70 wrote:
Fri Sep 28, 2018 8:20 am
OnTrack2020 wrote:
Fri Sep 28, 2018 7:25 am
The program should not have been created in the first place. If you take out a student loan, expect to pay it back. People should not expect to get a free college education.
I agree. You can get a PhD in French Literature and get a job as a park ranger and the taxpayers are on the hook for your loans? Studies have shown government workers make more than private sector workers and get better benefits already.
Better benefits perhaps. Studies on the salaries?

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Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

Post by HueyLD » Fri Sep 28, 2018 8:29 am

michaeljc70 wrote:
Fri Sep 28, 2018 8:20 am
OnTrack2020 wrote:
Fri Sep 28, 2018 7:25 am
The program should not have been created in the first place. If you take out a student loan, expect to pay it back. People should not expect to get a free college education.
I agree. You can get a PhD in French Literature and get a job as a park ranger and the taxpayers are on the hook for your loans? Studies have shown government workers make more than private sector workers and get better benefits already.
Do you have any reliable source to support your claim?

My experience shows that my state and local government jobs on average pays poorly with subpar benefits and poor pension benefits.

clemrick
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Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

Post by clemrick » Fri Sep 28, 2018 8:52 am

Is this the same program that allows people to pay LESS on their loans during the 10 years and then, maybe, have them forgiven?

I do taxes and have had couples come in wanting to file separate so the spouse with the loans can pay less. Of course, married filing separately costs them a lot more in taxes, but they want the loans forgiven in time.

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Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

Post by michaeljc70 » Fri Sep 28, 2018 8:53 am

HueyLD wrote:
Fri Sep 28, 2018 8:29 am
michaeljc70 wrote:
Fri Sep 28, 2018 8:20 am
OnTrack2020 wrote:
Fri Sep 28, 2018 7:25 am
The program should not have been created in the first place. If you take out a student loan, expect to pay it back. People should not expect to get a free college education.
I agree. You can get a PhD in French Literature and get a job as a park ranger and the taxpayers are on the hook for your loans? Studies have shown government workers make more than private sector workers and get better benefits already.
Do you have any reliable source to support your claim?

My experience shows that my state and local government jobs on average pays poorly with subpar benefits and poor pension benefits.
There have been a lot of studies. Varying results. I was talking at the Federal level. The CBO has done its own study. Federal workers get pensions which are no longer common in the private sector. My state is basically broke mainly due to pensions.

https://www.washingtonpost.com/news/pow ... b012b1e7e3
The report also found the government’s benefits superior, by 47 percent on average, with a similar range by educational level. For those with a high school education or less, the government’s benefits package was found to be 93 percent higher; for those with doctorates or professional degrees, benefits were found to be about the same.
The report concluded that overall, federal employees are paid 3 percent more, ranging from a 34 percent advantage for those with a high school education or less to a 24 percent shortfall for those with a professional degree or doctorate.
Earlier reports from conservative and libertarian think tanks have concluded that they are ahead by amounts ranging from 14 percent to 78 percent.

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Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

Post by HomerJ » Fri Sep 28, 2018 9:01 am

OnTrack2020 wrote:
Fri Sep 28, 2018 7:25 am
The program should not have been created in the first place. If you take out a student loan, expect to pay it back. People should not expect to get a free college education.
What about the GI Bill?
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Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

Post by Beehave » Fri Sep 28, 2018 9:04 am

michaeljc70 wrote:
Fri Sep 28, 2018 8:20 am
OnTrack2020 wrote:
Fri Sep 28, 2018 7:25 am
The program should not have been created in the first place. If you take out a student loan, expect to pay it back. People should not expect to get a free college education.
I agree. You can get a PhD in French Literature and get a job as a park ranger and the taxpayers are on the hook for your loans? Studies have shown government workers make more than private sector workers and get better benefits already.
Of the miniscule number of French Lit PhD recipients in the US per year, I'd wager that the ones going into Federal jobs end up in intelligence agencies rather than national forest watch towers. The majority who end up teaching French to American students facilitate US business.

Education has a multi-faceted societal value. Bertrand Russell, disgusted by what he perceived as the technologically-enabled carnage of WWI, was proud that his intellectual accomplishment (with Whitehead) of providing a basis for mathematics using pure symbolic logic had, in his belief, no practical value at all. The work ended up being a key foundational component of the computer revolution. The cost of paying for one Beaudelaire-reading forester's education pales in comparison to not paying for and missing out on the next out-of-the-blue innovation.

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Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

Post by smitcat » Fri Sep 28, 2018 9:08 am

michaeljc70 wrote:
Fri Sep 28, 2018 8:20 am
OnTrack2020 wrote:
Fri Sep 28, 2018 7:25 am
The program should not have been created in the first place. If you take out a student loan, expect to pay it back. People should not expect to get a free college education.
I agree. You can get a PhD in French Literature and get a job as a park ranger and the taxpayers are on the hook for your loans? Studies have shown government workers make more than private sector workers and get better benefits already.
Park Ranger jobs around here are very competitive - degrees in environmental science and similar are required as a minimum.

michaeljc70
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Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

Post by michaeljc70 » Fri Sep 28, 2018 9:10 am

Beehave wrote:
Fri Sep 28, 2018 9:04 am
michaeljc70 wrote:
Fri Sep 28, 2018 8:20 am
OnTrack2020 wrote:
Fri Sep 28, 2018 7:25 am
The program should not have been created in the first place. If you take out a student loan, expect to pay it back. People should not expect to get a free college education.
I agree. You can get a PhD in French Literature and get a job as a park ranger and the taxpayers are on the hook for your loans? Studies have shown government workers make more than private sector workers and get better benefits already.
Of the miniscule number of French Lit PhD recipients in the US per year, I'd wager that the ones going into Federal jobs end up in intelligence agencies rather than national forest watch towers. The majority who end up teaching French to American students facilitate US business.

Education has a multi-faceted societal value. Bertrand Russell, disgusted by what he perceived as the technologically-enabled carnage of WWI, was proud that his intellectual accomplishment (with Whitehead) of providing a basis for mathematics using pure symbolic logic had, in his belief, no practical value at all. The work ended up being a key foundational component of the computer revolution. The cost of paying for one Beaudelaire-reading forester's education pales in comparison to not paying for and missing out on the next out-of-the-blue innovation.
In the private sector, some companies will pay for all or part of your degree earned while working for them. Many require it to be relevant to your job. This is paying loans off that may or may not be related to the job. Basically, allowing someone that racked up tons of student loan debt to get out of much of it by taking a job with certain employers (which can be non-governmental) and sticking the bill with the taxpayers.

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Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

Post by White Coat Investor » Fri Sep 28, 2018 9:12 am

"99% rejected" makes a great headline, but an even better one would be "70% of PSLF didn't bother reading the rules and 28% couldn't fill out the form right."

If I thought I could get $200-300K (a very nice year's salary) out of a program, I would sure as heck put some time and effort into understanding it and filling out the paperwork properly.
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Re: Public Student (sic) Loan Forgiveness Program Rejects 99% of Applicants

Post by livesoft » Fri Sep 28, 2018 9:35 am

I am mentoring a social worker who is in the Public Service Loan Forgiveness (PSLF) program. Her university actively encouraged their students to apply to this program and also appeared to state that extravagant loans would be no problem since they would be forgiven. That is, while students, they lived better and spent more money than I did. The university charged outrageous tuition as well. And why not? If you can get someone else to pay for it, then cost doesn't matter, right?

Maybe the thread title can be changed, too? Since there is no Public Student Loan Forgiveness program.
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Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

Post by sunny_socal » Fri Sep 28, 2018 9:40 am

michaeljc70 wrote:
Fri Sep 28, 2018 9:10 am
Beehave wrote:
Fri Sep 28, 2018 9:04 am
michaeljc70 wrote:
Fri Sep 28, 2018 8:20 am
OnTrack2020 wrote:
Fri Sep 28, 2018 7:25 am
The program should not have been created in the first place. If you take out a student loan, expect to pay it back. People should not expect to get a free college education.
I agree. You can get a PhD in French Literature and get a job as a park ranger and the taxpayers are on the hook for your loans? Studies have shown government workers make more than private sector workers and get better benefits already.
Of the miniscule number of French Lit PhD recipients in the US per year, I'd wager that the ones going into Federal jobs end up in intelligence agencies rather than national forest watch towers. The majority who end up teaching French to American students facilitate US business.

Education has a multi-faceted societal value. Bertrand Russell, disgusted by what he perceived as the technologically-enabled carnage of WWI, was proud that his intellectual accomplishment (with Whitehead) of providing a basis for mathematics using pure symbolic logic had, in his belief, no practical value at all. The work ended up being a key foundational component of the computer revolution. The cost of paying for one Beaudelaire-reading forester's education pales in comparison to not paying for and missing out on the next out-of-the-blue innovation.
In the private sector, some companies will pay for all or part of your degree earned while working for them. Many require it to be relevant to your job. This is paying loans off that may or may not be related to the job. Basically, allowing someone that racked up tons of student loan debt to get out of much of it by taking a job with certain employers (which can be non-governmental) and sticking the bill with the taxpayers.
That's what I did. My company paid $5k/quarter toward my MSEE, it was enough to cover my costs at a state school. I'll encourage my kids to do the same thing, no need to rack up tons to debt.

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Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

Post by targetconfusion » Fri Sep 28, 2018 9:53 am

White Coat Investor wrote:
Fri Sep 28, 2018 9:12 am
"99% rejected" makes a great headline, but an even better one would be "70% of PSLF didn't bother reading the rules and 28% couldn't fill out the form right."
This is the story. We really did not learn much from this statistic because the sample of forgiveable loans was small. The next few years will be more revealing as more qualifying loans become eligible and PSLF applicants smarten up. But, sure, as someone considering PSLF as a component of their career choice, this has to feel a little unnerving.

Nonpolitical observation - it's hard to totally decouple the price of tertiary education from the government's willingness to back (or sling, in the case of direct) loans to anyone and everyone, just as it was housing prices when the same was done with mortgages. More broadly, it's the same thing that happens on economywide scale when the fed drops interest rates. When more dollars chase something, it tends to inflate.

Through the lens of an impartial economist, PSLF could be viewed as a fine-tuning of that subsidization by ensuring the public does not miss out on talented folks who, without the ability to pay back their loans, could not have afforded to choose it as a career (though we would first need to show that this is happening).

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Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

Post by sterlingcooper05 » Fri Sep 28, 2018 10:19 am

The student loan service companies are the 1st line of defense for the PSFL program, and they are incompetent. I helped my wife apply for loan forgiveness through a similar program for teachers. We knew that she qualified, had all the proper documentation, all the requirements were met, but the service companies made it extremely difficult to get the paperwork processed. We had to send and re-send documents multiple times to multiple service companies. Each service company had different requirements for the same forgiveness program. One service company lost all of our documents and we had to restart the process. They have zero incentive to provide quality service. These are the people responsible for rejecting applicants.

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Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

Post by Madbull » Fri Sep 28, 2018 10:43 am

jehovasfitness wrote:
Fri Sep 28, 2018 7:46 am
Yeah, start charging for k-12 too, entitled kids think they can just get a free ride all the way through HS
I’ll bite, lol.....

We already do. I’m paying over $6k/year to our local ISD through property taxes. And we have NO kids. I’m already more than doing ‘my part’ for other people’s choice to pop out offspring.

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Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

Post by jehovasfitness » Fri Sep 28, 2018 10:51 am

Madbull wrote:
Fri Sep 28, 2018 10:43 am
jehovasfitness wrote:
Fri Sep 28, 2018 7:46 am
Yeah, start charging for k-12 too, entitled kids think they can just get a free ride all the way through HS
I’ll bite, lol.....

We already do. I’m paying over $6k/year to our local ISD through property taxes. And we have NO kids. I’m already more than doing ‘my part’ for other people’s choice to pop out offspring.
:sharebeer

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Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

Post by sawhorse » Fri Sep 28, 2018 11:06 am

michaeljc70 wrote:
Fri Sep 28, 2018 8:53 am
HueyLD wrote:
Fri Sep 28, 2018 8:29 am
michaeljc70 wrote:
Fri Sep 28, 2018 8:20 am
OnTrack2020 wrote:
Fri Sep 28, 2018 7:25 am
The program should not have been created in the first place. If you take out a student loan, expect to pay it back. People should not expect to get a free college education.
I agree. You can get a PhD in French Literature and get a job as a park ranger and the taxpayers are on the hook for your loans? Studies have shown government workers make more than private sector workers and get better benefits already.
Do you have any reliable source to support your claim?

My experience shows that my state and local government jobs on average pays poorly with subpar benefits and poor pension benefits.
There have been a lot of studies. Varying results. I was talking at the Federal level. The CBO has done its own study. Federal workers get pensions which are no longer common in the private sector. My state is basically broke mainly due to pensions.

https://www.washingtonpost.com/news/pow ... b012b1e7e3
The report also found the government’s benefits superior, by 47 percent on average, with a similar range by educational level. For those with a high school education or less, the government’s benefits package was found to be 93 percent higher; for those with doctorates or professional degrees, benefits were found to be about the same.
The report concluded that overall, federal employees are paid 3 percent more, ranging from a 34 percent advantage for those with a high school education or less to a 24 percent shortfall for those with a professional degree or doctorate.
Earlier reports from conservative and libertarian think tanks have concluded that they are ahead by amounts ranging from 14 percent to 78 percent.
The excerpts you quote show the opposite of your claim when it comes to people with graduate degrees - the people whom the thread is about. So people with advanced degrees earn about the same in benefits but 24% less in wages.

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Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

Post by vaught » Fri Sep 28, 2018 11:24 am

My wife is a public school teacher and is working towards PSLF.

The article is a catchy headline that has been somewhat rebutted already in the replies.

The reality is that there are a lot of requirements and very specific rules that must be followed including certifying your income and picking an appropriate qualifying plan each year. But... if you do all this correctly you can have Fed Loan tell you in advance if you are doing everything correctly. They've already sent us information saying (a) yes the employer qualifies as public service, (b) yes the borrower's occupation qualifies, (c) you've made X number of payments that qualify towards the 120 required, and (d) you have Y more payments to go until your loan is forgiven.

I'm not pretending that the above is easy but it is certainly doable.

As to whether it should even be offered, I think the same could be argued about any government tax benefit. It benefits some and costs others. Same for social security, same for ability to write off mortgage interest or 401k deductions, and the list goes on.

I wouldn't let that headline dissuade any borrower from attempting to seek PSLF.

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Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

Post by mrc » Fri Sep 28, 2018 12:30 pm

Madbull wrote:
Fri Sep 28, 2018 10:43 am
jehovasfitness wrote:
Fri Sep 28, 2018 7:46 am
Yeah, start charging for k-12 too, entitled kids think they can just get a free ride all the way through HS
I’ll bite, lol.....

We already do. I’m paying over $6k/year to our local ISD through property taxes. And we have NO kids. I’m already more than doing ‘my part’ for other people’s choice to pop out offspring.
And I expect at least a few of those little buggers to grow up and use that education to learn a skill/trade, and then offer those services to my community. Of course, if a few of those rugrats grew up in a different tax jurisdiction, but move to my area, that's OK too. :wink:
If it’s not long term it’s small talk

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Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

Post by cdu7 » Fri Sep 28, 2018 12:34 pm

OnTrack2020 wrote:
Fri Sep 28, 2018 7:25 am
The program should not have been created in the first place. If you take out a student loan, expect to pay it back. People should not expect to get a free college education.
My parents paid nearly 100% for my undergraduate education, and, thanks to the generosity of a deceased billionare's estate I was able to get a free graduate education through a special fellowship program. Now, why was I more deserving of a free education than some poor kid working his/her butt off with a fraction of the support I got growing up? In the 1800s only people who could afford it got more than a very basic level of education; we later decided that society was better off if everyone had the opportunity to educate themselves through high school. Public education has its issues, but on the whole giving anyone the opportunity to better themselves seems to be a good idea for promoting prosperity no?

By the way, this doesn't mean people not willing to put in the work get a free ride, it means that anyone willing / able to handle the academic track should be able to do so regardless of their background.

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Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

Post by PVW » Fri Sep 28, 2018 1:20 pm

White Coat Investor wrote:
Fri Sep 28, 2018 9:12 am
"99% rejected" makes a great headline, but an even better one would be "70% of PSLF didn't bother reading the rules and 28% couldn't fill out the form right."

If I thought I could get $200-300K (a very nice year's salary) out of a program, I would sure as heck put some time and effort into understanding it and filling out the paperwork properly.
I would guess 28% is below the error rate on typical government forms.

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Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

Post by LadyGeek » Fri Sep 28, 2018 2:14 pm

I removed some off-topic posts complaining about the program. The discussion is derailing into general comments on society. Thread has run its course and is locked (topic exhausted). See: Locked Topics
Moderators or site admins may lock a topic (set it so no more replies may be added) when a violation of posting policy has occurred. Occasionally, even if there are no overt violations of posting policy, a topic (or thread) will reach a point where the information content of the discussion has been essentially exhausted and further replies are much more likely to cause distress to the community than add anything of value.
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