TIA for advice. I have been on PSLF program with a qualifying employer for roughly 5 years. For reference I work in healthcare in a hospital setting for a qualifying employer with current $0 payments. My job market is quite secure. We just had our first child and are debating staying at home options. My husband and I have been filing separately for all that time as he makes roughly $350000 (hence why I don’t want that considered into my payment when I make much less). According to MOHELA I can remain on PSLF plan and remain to have $0 payments as having no income to report during those years. I plan to return to work under qualifying employer once my children begin schooling (roughly 6-7 years). Does this sound reasonable or correct from others experiences? Since it is PSLF and I am not in a community property state I don’t believe my loan is taxable at completion.
Advice debating SAHM on PSLF plan
byu/PsychologicalBoss608 inStudentLoans
Posted by PsychologicalBoss608
4 Comments
You won’t have any new qualifying PSLF payments if you are not working for a qualifying employer during that time.
I did this. I have no intention of leaving my field and anticipate a long career. To me, the stress of that ballooning interest, was worth the time home with my kids.
PSLF isn’t something you are on, nor is it a repayment plan. But yes, you can file taxes separately so that you have a $0 payment on an income-driven plan.
Depending on the loan balance, that plan may or may not make sense.
There’s no issue with this. The only thing I would hypothetically worry about is the longer you extend it the more potentially changes to student loan programs etc. But probably low risk there.