- Joined
- Aug 29, 2009
- Messages
- 69
- Reaction score
- 0
The Public Service Loan Forgiveness Program is a federal repayment program that pays off your debt after 10 years of IBR payments. There is a new act called: Student Loan Forgiveness Act of 2012 and this will reduce the 10 years to 5 years. I'm currently starting my 3rd year as a navy dentist and I still have 175K of debt but I've been paying on it with the IBR and my payments have only been around 400 a month. I lower my AGI via TSP and since I have a wife and 2 kids that helps lower my payment too. I did the HSCP program because I am a prior dental tech and had time in already so I came in as an 03E with 9 years after the 4 years of dental school added 4 years of time to my active duty. So, this being said if you are contemplating HPSP versus HSCP I'd highly recommend you think about your decision carefully because with the PSLFP you can max out your loans as an HSCP person (put money in the bank via loans) and then have them forgiven in 5-10 years. To sign this petition and help lower it to 5 years go to:
http://signon.org/sign/support-the-student-loan.fb1?source=s.fb&r_by=3580410
http://signon.org/sign/support-the-student-loan.fb1?source=s.fb&r_by=3580410