Anesthesia Private Equity News Article

[aneftp]

Exactly. Apparently the new rule for TX and CA means that if you staff at a non profit regardless of your employer it qualifies. I’m seriously thinking of taking a FT position given my 400k debt. Until now there were no options but academics

400k debt is equivalent to 680-700k salary before taxes. Massive forgiven debt

---

Members don't see this ad.

 

[CubsDynasty]

"Kaiser Permanente physicians and other employees in California and Texas have historically been blocked from receiving PSLF, but that has changed as of July 1, 2023. Under new changes to the PSLF program, physicians and others working at not-for-profit employers, like Kaiser, who have been barred from being directly employed by these organizations under state law, now have a pathway to having their loans forgiven. Prior to July 1, 2023, this was not the case. If you were previously denied, you need to apply again. The Biden administration cited the example of physicians working in settings like Kaiser Permanente in California and Texas specifically as inspiring this rule change."

So my understanding is that if you work for a non-profit company at a non-profit hospital in these two states you can now be PSLF eligible, when in the past the two states had laws in place that did not allow it. I would think a for-profit employer at a non-profit hospital still is not eligible. This is just a very specific exception for this small loophole given the existing state laws.

 

[aneftp]

"Kaiser Permanente physicians and other employees in California and Texas have historically been blocked from receiving PSLF, but that has changed as of July 1, 2023. Under new changes to the PSLF program, physicians and others working at not-for-profit employers, like Kaiser, who have been barred from being directly employed by these organizations under state law, now have a pathway to having their loans forgiven. Prior to July 1, 2023, this was not the case. If you were previously denied, you need to apply again. The Biden administration cited the example of physicians working in settings like Kaiser Permanente in California and Texas specifically as inspiring this rule change."

So my understanding is that if you work for a non-profit company at a non-profit hospital in these two states you can now be PSLF eligible, when in the past the two states had laws in place that did not allow it. I would think a for-profit employer at a non-profit hospital still is not eligible. This is just a very specific exception for this small loophole given the existing state laws.

Who is making these rule changes? Seems like the president is directing dept of education to make these changes and the president may make different changes. These are not acts of Congress

Just like how health care subsidies (how much subsidy) on the exchanges are directed by the president and executive brand how it’s handled

 

[dantt]

"Kaiser Permanente physicians and other employees in California and Texas have historically been blocked from receiving PSLF, but that has changed as of July 1, 2023. Under new changes to the PSLF program, physicians and others working at not-for-profit employers, like Kaiser, who have been barred from being directly employed by these organizations under state law, now have a pathway to having their loans forgiven. Prior to July 1, 2023, this was not the case. If you were previously denied, you need to apply again. The Biden administration cited the example of physicians working in settings like Kaiser Permanente in California and Texas specifically as inspiring this rule change."

So my understanding is that if you work for a non-profit company at a non-profit hospital in these two states you can now be PSLF eligible, when in the past the two states had laws in place that did not allow it. I would think a for-profit employer at a non-profit hospital still is not eligible. This is just a very specific exception for this small loophole given the existing state laws.

What about the people who were excluded before so refinanced their loan...

 

[aneftp]

It’s the Biden administration making these changes. With “public service” loan forgiveness changes.

The next administration my change it.

I don’t know how you can work for a for profit organization Usap and de factor for profit (fake religious hospitals system like advent health in Florida) and claim public service and claim loan forgiveness

This isn’t a “permanent “ ruling even tough the dept of education says it’s permanent. Because Biden is directing the education dept

“
Now, the department says, it will use its authority to give borrowers a time-limited waiver — essentially relaxing several of these rules retroactively, so that previously disqualified loan payments can now be counted toward forgiveness.

The department estimates that this waiver could have an enormous impact on borrowers, with roughly 22,000 immediately eligible to have their loans erased automatically. Another 27,000 borrowers could likewise see their debts disappear if they're able to prove they were working in public service at the time they made payments that had been declared ineligible. By comparison, 16,000 borrowers have had their loans forgiven under PSLF since the program was created.”

https://www.npr.org/2021/10/06/1043332307/public-service-loan-forgiveness-education-department-overhaul

 

[HemeOncHopeful19]

It’s the Biden administration making these changes. With “public service” loan forgiveness changes.

The next administration my change it.

I don’t know how you can work for a for profit organization Usap and de factor for profit (fake religious hospitals system like advent health in Florida) and claim public service and claim loan forgiveness

How is working for Kaiser any more of a “public service” than working for yourself in PP?

This seems more like a subsidy to Kaiser so it can “offer” PSLF as part of their total comp package.

 

[aneftp]

How is working for Kaiser any more of a “public service” than working for yourself in PP?

This seems more like a subsidy to Kaiser so it can “offer” PSLF as part of their total comp package.

Exactly.

Biden just giving money away. Trying to buy votes.

Notice Obama could have done the same thing cause he was president for 8 years and didn’t change the program.

 

[ucladoc2b]

Exactly.

Biden just giving money away. Trying to buy votes.

Notice Obama could have done the same thing cause he was president for 8 years and didn’t change the program.

If you actually looked at the policy and why it was done, you would know Texas also heavily advocated for this change as they have the same exact law.

Both states are pretty entrenched in their voting patterns.

So whose votes did they buy?

 

[nimbus]

"Kaiser Permanente physicians and other employees in California and Texas have historically been blocked from receiving PSLF, but that has changed as of July 1, 2023. Under new changes to the PSLF program, physicians and others working at not-for-profit employers, like Kaiser, who have been barred from being directly employed by these organizations under state law, now have a pathway to having their loans forgiven. Prior to July 1, 2023, this was not the case. If you were previously denied, you need to apply again. The Biden administration cited the example of physicians working in settings like Kaiser Permanente in California and Texas specifically as inspiring this rule change."

So my understanding is that if you work for a non-profit company at a non-profit hospital in these two states you can now be PSLF eligible, when in the past the two states had laws in place that did not allow it. I would think a for-profit employer at a non-profit hospital still is not eligible. This is just a very specific exception for this small loophole given the existing state laws.

According to the CMA, those working for a “for profit” employer at a “nonprofit” hospital are still eligible.

 

[aneftp]

According to the CMA, those working for a “for profit” employer at a “nonprofit” hospital are still eligible.

If Biden loses next election. It may change. This is more of executive branch making dept of education decisions.

Like how the president can direct hhs how to tweak Obamacare subsidies for those making under 250% poverty. And trump changed it and Biden changed it back again.

 

[kidthor]

If Biden loses next election. It may change. This is more of executive branch making dept of education decisions.

Like how the president can direct hhs how to tweak Obamacare subsidies for those making under 250% poverty. And trump changed it and Biden changed it back again.

Absolutely.

The Biden administration did a good job clarifying the PSLF process…. It was a complete disaster before. They also pulled in some groups that wouldn’t have qualified (e.g. I was in long term forbearance during most of residency, which would have qualified for nothing before).

But I’m pretty sure a Republican administration would intentionally revert PSLF back to a more chaotic mess, as they hate loan forgiveness.

For what it’s worth I don’t think they should be doing PSLF without fixing the root cause of high tuition costs in the first place. But with the education industrial complex donating tons to super PACs then both parties will just keep the corporate gravy trains running.

 

[rowsdower88]

Exactly.

Biden just giving money away. Trying to buy votes.

Notice Obama could have done the same thing cause he was president for 8 years and didn’t change the program.

The program worked virtually the same under Trump. I still qualified then too while working for a big non-profit system (at least the website said I qualified). It was a program created by the Bush administration.

The problem with the Trump administration (and tail end of Obama administration) was that it was rejecting people it probably shouldn't have been. There were reports of ~98% rejection rates.

New Data Shows Most Who Apply To This Student Loan Forgiveness Program Are Denied

The data shows that 98% of applications for Public Service Loan Forgiveness (PSLF) were rejected. Will the Biden administration take steps to fix the broken program?

www.forbes.com

 

[ucladoc2b]

If Biden loses next election. It may change. This is more of executive branch making dept of education decisions.

Like how the president can direct hhs how to tweak Obamacare subsidies for those making under 250% poverty. And trump changed it and Biden changed it back again.

Less likely. A big blue and big red state both advocated for it.

 

[aneftp]

Absolutely.

The Biden administration did a good job clarifying the PSLF process…. It was a complete disaster before. They also pulled in some groups that wouldn’t have qualified (e.g. I was in long term forbearance during most of residency, which would have qualified for nothing before).

But I’m pretty sure a Republican administration would intentionally revert PSLF back to a more chaotic mess, as they hate loan forgiveness.

For what it’s worth I don’t think they should be doing PSLF without fixing the root cause of high tuition costs in the first place. But with the education industrial complex donating tons to super PACs then both parties will just keep the corporate gravy trains running.

Obama was president for 8 years. He was pretty clear what he did with the pslf

Biden just trying to give away money.

 

[kidthor]

Obama was president for 8 years. He was pretty clear what he did with the pslf

Biden just trying to give away money.

Before it wasn’t clear that PSLF would ever work out, and the way to track your past counts or to be sure your payments counted was very Byzantine. For me it’s much improved now. I paid off most of my loans but I might actually get a small amount forefiven via PSLF soon…. And I wouldn’t have had any hope except that now the systems and processes actually work.

 

[IMGASMD]

Before it wasn’t clear that PSLF would ever work out, and the way to track your past counts or to be sure your payments counted was very Byzantine. For me it’s much improved now. I paid off most of my loans but I might actually get a small amount forefiven via PSLF soon…. And I wouldn’t have had any hope except that now the systems and processes actually work.

I had to go into forbearance during the last two years of residency. At some point I just gave up tracking it…. It felt pointless and also helpless.
I have less than 50K at 2.8%, still with 20 years. Maybe I should look into it again…

 

[DesiredMemberName?]

Did you all never refinance those loans? Some of those federal loans were at like 8% while commercial lenders were offering refi rates less than 3%.

 

[midazzoler]

I didn’t transfer for 2 reasons. I aggressively paid them off so interest had minimal long term implications. In the short term if I became disabled the federal loans would be forgiven. If I had transferred to SoFi and became disabled I would still be on the hook.

 

[nimbus]

https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service/questions

 

[kidthor]

Did you all never refinance those loans? Some of those federal loans were at like 8% while commercial lenders were offering refi rates less than 3%.

I refinanced all of mine that were at a high rate and then aggressively paid them off. I left the lower rate loans alone to see whether I could get PSLF - and it looks like I will on that portion.

 

[aneftp]

Rule of thumb with student loans is 2x ur annual income ratio

So if you student loan balance is 400k. If you makes at least 200k year. It’s manageable

How many people owe 400k from med school? Average peds/I’m docs make 150-250k so even they should be able to pay off loans

Specialist make much more so can afford to pay off

 

[Fpg1245]

Rule of thumb with student loans is 2x ur annual income ratio

So if you student loan balance is 400k. If you makes at least 200k year. It’s manageable

How many people owe 400k from med school? Average peds/I’m docs make 150-250k so even they should be able to pay off loans

Specialist make much more so can afford to pay off

How much does it impact your ability to get a home loan? Having this student debt.

 

[aneftp]

How much does it impact your ability to get a home loan? Having this student debt.

Revolving debt is just like any $1000/mo car payment

Student loan is treated the same.

 

[CubsDynasty]

How much does it impact your ability to get a home loan? Having this student debt.

I believe physician mortgages disregard your student loan debt essentially in your DTI calculation since it’s typically a safer loan with lower chance of default.