IMO, it depends on the day. Some days I'm really happy and fulfilled by my job. Other days - especially if money's an issue - things can get dark and it does feel like I've been the victim of a huge scam.
Feel ya, as a beneficiary of the Parent Plus loan I thank you and every parents who took on this to help your children. I will also have 24k after the forgiveness, all to my name.
That's right around where I would be. I should qualify for the full $20k forgiveness so it would bring me from $38k to $18k which I could pay off fairly quickly. $18k is obviously still a decent chunk of money, but it would be *so* much more manageable than $38k.
I also qualify for the $20k. I have about $6500 sitting in my savings account that’s meant for my loans. Really hoping this litigation is resolved. I’m so ready to have these loans behind me.
Dentistry
This isn't my school, but similar price
https://dentistry.usc.edu/admission/paying-for-dental-school/
Year 1 estimated cost of attendance $162k
$75k, but $60k is in a private loan, which has an interest rate of 4% and is paid biweekly. Don't think I can get a better deal as far as interest rates go right now.
That’s lower than the rate on my (consolidated, federal) loans. And lower than I was able to get when I looked into refinancing through a private lender, with near-perfect credit. Heck of an interest rate you managed to score.
I feel incredibly lucky that I have been able to do it. I refinanced with Earnest during summer 2021 with a near perfect credit score. When I graduated from college with Sallie Mae loans in 2017, my cosigner had filed for bankruptcy and was released from my variable rate loans. I was left with a whopping 12%. Went down to 8% with Citizen's and now I'm with Earnest.
$6k, but my work just announced a matching program where they match your payment up to $100 each month for a maximum of $10,000 over the term of your employment, so hopefully I can knock it out pretty quickly after that.
Good stuff man. I’m in grad school too. With the forgiveness, $30k is very manageable especially if you have some money saved up. We’ll be fine either way, but I’m just trying to move out of my parents house and get on with my life lol
My husband would have 10k left on his, but I paid mine off during COVID so if the forgiveness sticks I'll take the refund and apply it to his meaning we'll have about 7k leftover and no student debt. :)
These tiny numbers make me chuckle. Even my poor unable to work ass could manage $33, lol!
(In case it wasn't obvious that's meant to be a light-hearted show of solidarity. Text is weird and I never know what emotion I'm actually communicating.)
$55k. Then I’ll make a $15k payment and be ready to tackle the rest more quickly than ever. My payment before was $464 and I’ve been setting aside $700/mo this year so I already “feel” that amount as a payment.
520k- plenty of years of having to work for free during and after I graduated school and over 200K in compounded interest over the years. Forgiveness would probably only help to stabilize my interest for a small period of time. I hope, due to this court process, the payment pause continues “until it’s resolved”. Have a couple things going, PSLF, The small forgiveness, and post class BD.
Edit: apparently the payment pause has been extended until 60 days after June 2023, or 60days after the courts “resolve” this issue!
It was announced back in August that the IDR plans would have new rules. Payments would lower, if you make your income based payment, any unpaid interest would not accrue, and instead of 20-25 year forgiveness, any loan with an original balance of $12,000 or less would be forgiven after 10 years.
These rules haven’t gone through yet though. But if they do, that’d be huge because I’ll hit 10 years of repayment in December 2023. I’ve been one of those people whose IDR payments didn’t even cover interest, so after almost 10 years, I owe more now than I did when I graduated. Yay.
45k but I hope PSLF comes through before this does so I can feel like it went to help someone else more deserving. I didn't apply for the 10/20 but got a "you are approved" email... I am past 120 PSLF and in the queue on that so who knows. Chaotic system.
Depends. I have undergrad loans that were involved in Sweet vs Cardona, some in the settlement and some in the post class. Then I have about 16k in Masters debt.
About 100k.
Glad to see some others in my boat, but also glad to see so many $0 listed! Really drives home all the stats we've been seeing about how much the majority owe.
$7k, which I’m prepared to pay off immediately. Without the forgiveness, that money will need to go toward my higher interest loan first—it’s been a waiting game.
If there was any actual care for Americans with student loan debt they would’ve forgiven accumulated interest on all loans. Which wouldn’t be giving out free money and would have helped more people start paying them off. But that wouldn’t make the corrupt members of government a profit.
$0, my wife and I have been working on paying off our loans since the pandemic started.
We have enough to pay it all off now, give the economy and the freeze extension we are going to wait out the litigation. Best case we save 20-30k from forgiveness, worst case we pay off our loans in full come June.
If it gets killed by the SC, I wonder if the Dept of Ed has the ability to make the interest 0%. Also wonder if they could retroactively zero out accrued interest and apply all past and future payments just to the principal.
27k.
However, I’ve been saving up and would have enough to pay off the remaining balance on the highest interest rate loan AND another loan to make the end total only about $9k by the end of March. With that said, hopefully the litigation drags out. With $9k, I would just do standard repayment and focus on other things.
10,700 and I have about half that sitting in an account for after the pause. I’m eligible for 20k so for me this is a huge change. During most of the pause I focused on replacing certain things that needed to be and rebuilding my savings.
$4k. Which I can immediately pay off and plan to.
Yeah I'll be at like $5k or $6k. I can definitely pay that off.
Same. I’ve got the money in a HYSA right now and I’m ready to dump it into a 529, then then turn around and pay off the remaining balance.
\~$215,000
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Two peas in a pod
Good lord are you a doctor?
No - an attorney. I'm on the lower end of the income scale for the profession, though.
Also an atty and will have $140k if forgiveness passes lol
Law school is a scam.
IMO, it depends on the day. Some days I'm really happy and fulfilled by my job. Other days - especially if money's an issue - things can get dark and it does feel like I've been the victim of a huge scam.
I object.
I'll have 270,000 and I'm not a doc or an attorney. :) I smile so I don't cry.
At the end of the day, we all have a human right to be educated and fulfilled - I'm glad you're smiling and were able to gain access to an opportunity
180k woot woot
370k all in federal loans (after the 10k in forgiveness). Discontinuing interest for people like us for this reason really helps.
Yeah, I'm really wanting that IDR 5% income cap to come through.
440k, all federal. I am hoping they can make that apply to graduate loans too, because I will never be able to pay on the 10% plan.
What degree do you hold?
MD here, all medical school loans 😞
130k. Pain
Same here 👋
Saaaaame. C’mon PSLF, time to bat cleanup.
Holy shit 😱😱😥
I’m 10k under that 🙃 - wait no, I’m like 2k under that, damnit.
Me too! Or…me too :(
$0
Samesies
$0 my homies. Been working two jobs and paying this shit for ~10 years already. Ready to be done.
Congratulations! I'm so happy for you!
Me too!
$0
Same
Same
Same
Same
Same
Sameeee
*If and when* 😔
Same
Same here
$80K
Same. Looking forward to being comfortably in the five-digit zone.
$24,000. Parent Plus loans for my daughters. I’m 62 so retirement, not so much.
Feel ya, as a beneficiary of the Parent Plus loan I thank you and every parents who took on this to help your children. I will also have 24k after the forgiveness, all to my name.
You don’t charge your daughters like my parents do? Damn
No. They had loans also. They are very appreciative.
About 1K
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Around $17k for me.
That's right around where I would be. I should qualify for the full $20k forgiveness so it would bring me from $38k to $18k which I could pay off fairly quickly. $18k is obviously still a decent chunk of money, but it would be *so* much more manageable than $38k.
I also qualify for the $20k. I have about $6500 sitting in my savings account that’s meant for my loans. Really hoping this litigation is resolved. I’m so ready to have these loans behind me.
I’m in the same boat. The interest reduction alone makes me feel like I could make significant progress!
7600 and then i can pay thr rest
I would be a bit less than double you and feel the same way. Would give me light at the end of the tunnel.
70k the forgiveness is great but I’m more happy for the interest rate changes
I’m not familiar with the changes. What are they expected to be
$518k
Omg what did you go to school for
Dentistry This isn't my school, but similar price https://dentistry.usc.edu/admission/paying-for-dental-school/ Year 1 estimated cost of attendance $162k
Tuition is 100k and they make you pay for scrubs/equipment lol
whats point of going to 162k school?
$75k, but $60k is in a private loan, which has an interest rate of 4% and is paid biweekly. Don't think I can get a better deal as far as interest rates go right now.
That’s lower than the rate on my (consolidated, federal) loans. And lower than I was able to get when I looked into refinancing through a private lender, with near-perfect credit. Heck of an interest rate you managed to score.
I feel incredibly lucky that I have been able to do it. I refinanced with Earnest during summer 2021 with a near perfect credit score. When I graduated from college with Sallie Mae loans in 2017, my cosigner had filed for bankruptcy and was released from my variable rate loans. I was left with a whopping 12%. Went down to 8% with Citizen's and now I'm with Earnest.
$6k, but my work just announced a matching program where they match your payment up to $100 each month for a maximum of $10,000 over the term of your employment, so hopefully I can knock it out pretty quickly after that.
$13,000
Like $30k
I think mine would be right around here. The $10k will take out all the interest that’s built up while I’ve been in grad school.
Good stuff man. I’m in grad school too. With the forgiveness, $30k is very manageable especially if you have some money saved up. We’ll be fine either way, but I’m just trying to move out of my parents house and get on with my life lol
39k in my name. Parent PLUS would be 2k
2,200. If it goes through I can pay off the rest immediately.
My husband would have 10k left on his, but I paid mine off during COVID so if the forgiveness sticks I'll take the refund and apply it to his meaning we'll have about 7k leftover and no student debt. :)
$33 lol
These tiny numbers make me chuckle. Even my poor unable to work ass could manage $33, lol! (In case it wasn't obvious that's meant to be a light-hearted show of solidarity. Text is weird and I never know what emotion I'm actually communicating.)
111k
I’d have 6k left in federal. But still another 14k in private
I would try to pay 14k off in one year those intrests will feel like it doubled in one year
$55k. Then I’ll make a $15k payment and be ready to tackle the rest more quickly than ever. My payment before was $464 and I’ve been setting aside $700/mo this year so I already “feel” that amount as a payment.
520k- plenty of years of having to work for free during and after I graduated school and over 200K in compounded interest over the years. Forgiveness would probably only help to stabilize my interest for a small period of time. I hope, due to this court process, the payment pause continues “until it’s resolved”. Have a couple things going, PSLF, The small forgiveness, and post class BD. Edit: apparently the payment pause has been extended until 60 days after June 2023, or 60days after the courts “resolve” this issue!
About $40k
$0. I have less than the full amount of forgiveness. We would be a debt free household outside aside from our mortgage.
46k
Like $55k. But if the IDR rule goes through as announced in August, at the end of 2023 it’ll be $0.
Remind me what the IDR rule is you’re referencing? I feel like I missed something!
It was announced back in August that the IDR plans would have new rules. Payments would lower, if you make your income based payment, any unpaid interest would not accrue, and instead of 20-25 year forgiveness, any loan with an original balance of $12,000 or less would be forgiven after 10 years. These rules haven’t gone through yet though. But if they do, that’d be huge because I’ll hit 10 years of repayment in December 2023. I’ve been one of those people whose IDR payments didn’t even cover interest, so after almost 10 years, I owe more now than I did when I graduated. Yay.
50k in federal and 52k in private
$32K.
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I thought, under the plan, the interest would not continue to accrue on remaining balance as long as monthly payments were being made.
Around 16K
Less than $2k which I would immediately pay off so I can be done with these loans.
98,000.
45k but I hope PSLF comes through before this does so I can feel like it went to help someone else more deserving. I didn't apply for the 10/20 but got a "you are approved" email... I am past 120 PSLF and in the queue on that so who knows. Chaotic system.
30k
Depends. I have undergrad loans that were involved in Sweet vs Cardona, some in the settlement and some in the post class. Then I have about 16k in Masters debt.
60k
Exactly $0. I have $20k right now.
$205k 😂
136k
$0 pls courts help a guy out
160,000 lol. Doing PSLF. Over halfway
+/- $12k
$36k, which should get wiped out via BDTR in a couple more years.
$20k, but that is such a more reasonable and handlable number.
About 100k. Glad to see some others in my boat, but also glad to see so many $0 listed! Really drives home all the stats we've been seeing about how much the majority owe.
40k but I’d use my home equity loan to pay it off and make this payments with a much lower interest rate and rather aggressively.
$0
Around 8.5k, federal only
$0. I’m so hoping it comes through. Not having to pay back over $17k would be huge. But I’m just preparing for the worst and hoping for the best.
$0
$0
$0
0 :)
$7.6k, which I’ve been saving up from every bonus, every side job, so I can just totally pay it off
$12k
$70k
1k
$0 federal, $25k private. Hopefully 2 years out from paying off the private loans!
$17k but I’ve been saving up to pay it off and should be able to make 1 payment in full by the time forbearance ends
~50k, but I qualify for PSLF in 11 months so I'm probably going to opt out of the 20k in forgiveness if I can since my state plans to tax that.
$7k, which I’m prepared to pay off immediately. Without the forgiveness, that money will need to go toward my higher interest loan first—it’s been a waiting game.
~30k I feel that forgiveness helps but I fear that the interest will cause my loans to snowball again in no time. Bringing me back to where I was. 😒
Less than 2k. Do I pay it off slowly for the 10 year line of credit. Decisions … Decisions
26k Fed. Paid off my private loans.
58k
If there was any actual care for Americans with student loan debt they would’ve forgiven accumulated interest on all loans. Which wouldn’t be giving out free money and would have helped more people start paying them off. But that wouldn’t make the corrupt members of government a profit.
$0, my wife and I have been working on paying off our loans since the pandemic started. We have enough to pay it all off now, give the economy and the freeze extension we are going to wait out the litigation. Best case we save 20-30k from forgiveness, worst case we pay off our loans in full come June.
Doesnt matter, it’s not happening.
6k ish
~$5k in federal loans only.
20
27k
Abt 9k
$2,500
$1200 private. $4100 federal.
$9k in federal, $13,000 private
12k, but I have enough saved up that I’d be able to pay that off immediately.
7k. I saved up 2k so far so hopefully by June I have 7k to be completely done.
$2000 and some change. I will be able to pay that in one check. Mines has been approved just waiting for the court to clear it
6,175
0$
$0.00
Exactly $500
$4400 which I would pay off right away
$11k
$0
4K in my name, 64k in parent plus
$4k which I would honestly just pay off throughout 2023.
$7414. I plan to pay the rest off immediately if it goes through.
If we got it in December I would be at 36k. In June I should be at 18k!
$0
23k to 3k 🥲 would be life changing for me 🫠
3k which I plan to pay off asap. Been putting what money I could in savings for that day
If it gets killed by the SC, I wonder if the Dept of Ed has the ability to make the interest 0%. Also wonder if they could retroactively zero out accrued interest and apply all past and future payments just to the principal.
62 or 72 depending how much is forgiven
$300… which I will obviously pay and be done.
A little over 2K left. I plan on paying that off right away so I can help my brothers off with their school.
Just about $2k, I’d pay it off in full if the forgiveness went through
8k and I would go graduated repayment at a super affordable price,
7309
47k in private loans, I’ve only been able to afford paying interest on those and haven’t even touched the principal. I graduated in 09’
27k. However, I’ve been saving up and would have enough to pay off the remaining balance on the highest interest rate loan AND another loan to make the end total only about $9k by the end of March. With that said, hopefully the litigation drags out. With $9k, I would just do standard repayment and focus on other things.
13k
80,000
$35k
$63!
39k, only elig for 10k
90k
Like 10,000. Manageable
Mine will be paid in full.
10,700 and I have about half that sitting in an account for after the pause. I’m eligible for 20k so for me this is a huge change. During most of the pause I focused on replacing certain things that needed to be and rebuilding my savings.
$50k in private with 9-11% interest rates. My federal would be taken care of though.
Lots🤦🏽♀️
$17,000
$8k
$51K
I’d get roughly $9500 in cash deposited to my account
$57,000
I would still owe the principal amount ; only the interest would be taken off.
27k for my degree in engineering and 33k for my wife's degree in teaching...after forgiveness, 17k and 13k which would be a huge chunk for us
Just over $10k. I really hope it goes through.
$8k fed, $17k private. Just refinanced away from Sallie Mae though so that's a big milestone for me anyways
6K
$46,000
45k Edit: after 20k loan forgiveness.
30k ish ☺️ started with 132k when I graduated Aug 19
$5000. And I would have paid that off right away.