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So excited - student loan related!
I re-consolidated my loans in the fall to be eligible for the public service loan forgiveness program. My payments are income-based, and anything left over after 120 payments (10 years) will be forgiven providing that I continue to work full time in a public service position. If you fill jointly they consider both spouse's income for a payment which would have been $500 a month 
So we filed separately even though it meant forgoing a refund and owing this year. But it paid off literally, because I just looked and my payment will only be $67 a month!! Not only will this make life a lot easier month to month, but it means a whole lot more will be forgiven after ten years which allows me to just enjoy my job instead of wallow in bitter guilt about how much my MSW cost me.
Re: So excited - student loan related!
oh. my. gawd... I'd be in heaven... and would have money! I hope to be able to take advantage of that program once we move back to Maine... and I am completely in that "wallow in bitter guilt" spot.
Congrats!! You definitely have a right to celebrate!
Very nice!
a low payment and no incentive to pay extra.
Erin, here's a fact sheet about it:
http://studentaid.ed.gov/students/attachments/siteresources/LoanForgivenessv4.pdf
Basically, when you graduate, you consolidate all of your federal loans with Direct Loans, which is the governments student loan servicing thing. If you choose income-based repayment, they set your payment based on your income. If you file separately, they just consider your income; jointly they consider both. You have to work full time in a public service job which includes public schools, make 120 payments, and then the balance of your loans is forgiven after that 10 years. So it definitely pays to get your payment as small as possible and not overpay. The whole program is designed with the idea that public service professionals' salary is not commensurate with their education costs which is fantastic that someone finally realized that!
E: I had to fix my vocabulary error, it was bothering me!
I think this program is fantastic and was so excited when it was passed into law! I have so many friends with public policy and social work master's for whom this program is making a big difference! Meg - I'm so happy you're another one getting the benefit. :-)