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Mentor
Nope. Student loan forgiveness is only for federal student loans. Sofi is entirely private. It’s also why other types of indebtedness is unlikely to be forgiven.
Private loan forgiveness? Not a chance.
Negative chance
Coach
I don’t realistically see federal student loans being forgiven for people who make Big Law salaries, either :(
Aim higher A7, you want to be debt free after the 50% tax.
Mentor
Like, is it physically possible in some world? Sure. Will it happen in the next 100 years? No
Mentor
Not possible. When you refinance with a private lender, they pay the federal loan off in full. Feds can’t infringe on private contracts the way you’re describing. The only benefit you may get is if they give the relief via tax credits for interest previously paid.
Coach
There’s zero chance of loan forgiveness for anyone making big law $$, private or not.
Mentor
A tax credit or $10k for interest paid on student loans plus resetting the rate to half a point would do far more than $10k in forgiveness
Subject Expert
No chance in hell
Subject Expert
I refinanced $180k in federal law school debt in November 2019…….. F in the chat
Mentor
Why so sad? You have the income to pay it off on 10-15 years, and you’re going to save $200k in payments plus avoid a $300k tax bomb. You’re in BL in small part to get the anchor that is loans off from around your neck. This is the way. The $10k is nothing compared to the 7% interest you escaped
Enthusiast
Private loans will never be forgiven. For the federal loans I can only imagine the red tape and buckets people will have to fit into for loans to be forgiven. I doubt it’s going to be a blanket forgiveness across the board. Will be highly surprised if it is.
The commies better blanket
Don't even use the energy to think about it. Tbh I already forgave myself for taking out all these student loans. Sallie better go see Incle Joe if she ever wants her money
Mentor
No lol
Mentor
That’s what I thought F me for refinancing right before Covid
Enthusiast
Your loans aren’t getting forgiven anyway so don’t sweat it.
Whatever drugs you’re on, please share. If any forgiveness happens there will be sub 15k with caps on income and Biden already is quoted as saying if you’re out of Harvard and Yale you won’t get any