PSLF and spouses non profit organization questions

[stinger159]

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Hello everyone I am a veterinary student looking for some legal eagle suggestion and interpretations. My wife has wanted to do some rescue work on her own for some time (specifically kittens and cats). I have been looking into ways to pay my mountain of debt. I will most likely hae 230-275k debt when it is all said and done. I plan on doing the IBR and just paying more than the monthly payment since it wouldn't touch the interest. I hope to get a 4-5 day job out of vet school so I could definitely help with a non profit if my wife starts one. Which brings be to my questions on PSLF and my wife.

1. If she starts her own animal rescue and attains the 501 c 3 designation, is there a minimum amount she would need to pay me to work there 30 hours a week to get the PSLF loan forgiveness?

2. If I read right, at least 50% of the organization's money has to come from outside, so would family and friends count as long as they are not part of the board?

I've always wanted to start and exotic animal rescue myself to both save unwanted pets and get more experience in caring for them. One of my biggest pet peeves is going on vacation and seeing baby sliders for sale at gift shops. If I started my own slider rescue, do I need to pay myself anything if I'm the CEO? And would I still be able to qualify for the PSLF?

Thanks for any help or insight you can give.

 

[MrCheetah]

Hello everyone I am a veterinary student looking for some legal eagle suggestion and interpretations. My wife has wanted to do some rescue work on her own for some time (specifically kittens and cats). I have been looking into ways to pay my mountain of debt. I will most likely hae 230-275k debt when it is all said and done. I plan on doing the IBR and just paying more than the monthly payment since it wouldn't touch the interest. I hope to get a 4-5 day job out of vet school so I could definitely help with a non profit if my wife starts one. Which brings be to my questions on PSLF and my wife.

1. If she starts her own animal rescue and attains the 501 c 3 designation, is there a minimum amount she would need to pay me to work there 30 hours a week to get the PSLF loan forgiveness?

2. If I read right, at least 50% of the organization's money has to come from outside, so would family and friends count as long as they are not part of the board?

I've always wanted to start and exotic animal rescue myself to both save unwanted pets and get more experience in caring for them. One of my biggest pet peeves is going on vacation and seeing baby sliders for sale at gift shops. If I started my own slider rescue, do I need to pay myself anything if I'm the CEO? And would I still be able to qualify for the PSLF?

Thanks for any help or insight you can give.

I really doubt anyone here will able to guide you through this. Not to mention that the ethics of it seem dodgy.