posted by Automatik
Oh he’s doing fine, he’s just a jackass. His loans aren’t insurmountable. At age 40, he just prefers to spend his money on guns, ammo, body armor, etc.
I just went on the 20 year income based payment plan the day I got out of college.
I figured I was paying them back, at the lowest monthly cost possible to help my "monthly cash flow" be better, etc.
I know I could have helped myself by paying them off in 10, but I had young kids at the time.
I did find out that they have a program, if you are on the income based (your income doesn't matter, they make the payments a percent of your income even if your income is good/high). Once you hit 20 years...the loans are forgiven no matter how much you still owe.
I technically owed very little at that point so it wasn't a huge help (was going to be paid off in like 18-24 months at that point anyway).
I didn't even know that was a thing until one month my payment got sent back and the loans fell off my credit report.
I called and someone explained it to me.
But yup, paid from 2002 when I graduated until last year, the lowest amount they would let me based on my income, and then they just disappeared.
I'm sure you had to be "current" to qualify for that, but still, kind of nice.
My loans were from my masters. I paid $0 for undergrad. Technically $0 for my masters as well but I had 2 kids at the time and was dumb enough to take student loans to live on.