Possible loophole in federal loan repayment...

[Gauss44]

http://www.fatwallet.com/forums/finance/1244177/

http://chronicle.com/article/Obamas-Loan-Repayment-Plan/135144/

Apparently you can't have any Federal loans from before 2008 and need to take out a federal loan in 2012 or later... It's still very likely that somebody on this forum will benefit from this. That's why I posted, to spread the word. I don't know any details.

Regarding my previous post, I meant to say, "like a million," an exaggeration. So many people took that literally! LOL

Sorry for cross post: I found the Financial Aid section of this forum AFTER posting in the Nontraditional section. I didn't think the right people would see my post where I initially put it.

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[Bold]

http://www.fatwallet.com/forums/finance/1244177/

http://chronicle.com/article/Obamas-Loan-Repayment-Plan/135144/

??? Care to explain ???

 

[albertross]

This has been news for a while, and while it sounds great, the reality is VERY few people believe that the program will exist in its current form in 20 years' time. It'd be great if it did, but the average American's not going to support a "get out of jail free" card to the tune of tens or hundreds of thousands of dollars for "rich" doctors, dentists, and lawyers--particularly if the deficit worsens. It would suck to pay minimal payments on loans at 6.8% and 7.9% for years and then find that Uncle Sam won't foot the bill for the interest and remaining principal.