I Think My Loans Have Been Written Off?

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goldenticketrsvp@reddit

Yay, you! I was told on a phone call that my loans were considered paid in full after years of mis-management by the DOJ, DoED and the default resolution group. It was the best day of my life.

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Fit_Falcon_930@reddit

What site did you use to see it was paid in full? What did the status say ?

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goldenticketrsvp@reddit

https://myeddebt.ed.gov/borrower/#/warning?redirectTo=login

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Longjumping_Tax_142@reddit

Mine were discharged about 8 months ago and I will still go on Navient every month or so just to make sure they are still gone...lol

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goldenticketrsvp@reddit

Right, like it is unreal the feeling that they are just gone.

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SafetyInNumber69@reddit (OP)

I'm still in shock and nervous it isn't real.

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LouStew@reddit

I checked my account for months after it happened. I was so worried that it was fake. Congrats!

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TheLonelySnail@reddit

It took me like a year before I was convinced I wasn’t going to get some mail saying ‘surprise mutha-f%+er! Give us $5000 more!’

Congrats, it will become more real soon

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goldenticketrsvp@reddit

I let out a blood curdling scream after I got off the phone. My son thought I was being attacked or something.

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Cute-Worldliness8459@reddit

Wow!!! That is awesome. I hope it stays real and good luck. Just say no to school loans. 🤣🤣🤣

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SafetyInNumber69@reddit (OP)

I got confirmation today via email from Nelnet. Loans fully discharged. I'm FREE!!

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Dianag519@reddit

I don’t understand. Did you apply for something or they just discharged it?

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SafetyInNumber69@reddit (OP)

I don't really know. I'm nervous it's some sort of mistake.

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It’s probably due to the number of years in forbearance and repayment (20 years for undergrad). What surprised some of us is that they started counting from the first loan, not from the end of deferments/start of repayment. 🙌

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justbeaunicorn@reddit

What if you consolidated it into a new direct loan? I have mostly graduate loans that were consolidated.

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LisaInSF@reddit

Whether someone gets loans forgiven based on the 2022-23 “One-Time Adjustment” depends on the timing of the loans/consolidation loans and the status of the loans during the adjustment period. I believe that the borrower had to be enrolled in an income based repayment plan in order to be eligible. You’ll want to ask your loan servicer about this.

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bladezor@reddit

Great news! Keep in mind you might be responsible for taxes on this.

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pinealwaves@reddit

Any more information about this? Under the current administration, I don’t think it applies. What are your thoughts about forgiveness and future tax forgiveness?

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bladezor@reddit

From the IRS

https://www.irs.gov/newsroom/what-if-my-debt-is-forgiven#:~:text=Generally%2C%20if%20you%20borrow%20money,%2DC%2C%20Cancellation%20of%20Debt.

I'm not a tax expert however.

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pinealwaves@reddit

Thanks. I’ve read: https://www.forbes.com/advisor/taxes/student-loan-forgiveness-taxes/

Looking for a newer article. Unfortunately I don’t think a lot of people realize that there is this separate issue. Which is ridiculous.

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SafetyInNumber69@reddit (OP)

Absolutely!!