Public Service Loan Forgiveness
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24
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Search complete. 86 mentions across 24 episodes found for "Public Service Loan Forgiveness".
Sep 29, 2026
Travis HornsbyHOST
I am concerned that physician clients of ours have the lowest percentage doing the monthly brokerage account contributions of physician, dentist, and veterinarians.
Travis HornsbyHOST
I think you could be onto something that maybe more dentists and veterinarians at the margins are doing the brokerage accounts because of the tax bomb you mentioned, right? Because a lot of physicians, the majority are doing PSLF, they're going for forgiveness.
Travis HornsbyHOST
But it's still concerning to me that physicians, despite having the highest average incomes are the lowest out of those three in terms of percent putting money into a brokerage.
Travis HornsbyHOST
And that doesn't surprise me too much because if you think about dentists and a lot of veterinarians, a lot of them are a lot more required to be more self-directed with their benefits.
Travis HornsbyGUEST
Yeah.
Travis HornsbyGUEST
So everybody understands that public service loan forgiveness is 10 years of paying on an income-based plan.
Travis HornsbyGUEST
After 10 years of payments, your loans are forgiven tax-free.
Travis HornsbyGUEST
There's no tax bomb.
Douglas Wayne RickettsHOST
Parent plus loans are also redundant because there are many privately provided alternatives available.
Douglas Wayne RickettsHOST
The Public Service Loan Forgiveness Program, which prioritizes government and public sector work over private sector employment, should be terminated.
Douglas Wayne RickettsHOST
Whatever Congress chooses to do with future loans, there is still the question of the government's responsible stewardship of the existing student loan portfolio, a substantial taxpayer asset.
Douglas Wayne RickettsHOST
The current administration has recklessly engaged in the policy fetish of forgiving and canceling student loans with abandon.
Robert FarringtonHOST
The second provision is especially important here for the roughly 7 million borrowers who spent more than two years inside this save forbearance thingy.
Robert FarringtonHOST
Under current law, those months earn zero PSLF credit, Unless the borrower buys them back.
Robert FarringtonHOST
Under this bill, they would count automatically with no lump sum payment and no application process, which takes forever anyway.
Robert FarringtonHOST
And here's why it matters.
Robert FarringtonHOST
The safe forbearance began in July of 24 when courts blocked the plan, and it has been ongoing until servicers started sending 90-day exit notices on July 1st of this year.
Robert FarringtonHOST
A public servant who stayed in it the entire time lost more than 24 months toward the 120 payments PSLF requires.
Robert FarringtonHOST
That's a big chunk.
Robert FarringtonHOST
And interest has been accruing on those balances since August 1st of 2025.
KathleenHOST
And last question, explain loan forgiveness.
Lucas HirstyGUEST
Yeah, so in 2008, under the Bush administration, Congress passed the Public Service Loan Forgiveness Program, which was a student loan repayment plan that was offered to individuals who had certain professional degrees.
Lucas HirstyGUEST
Lawyers being one of them.
Lucas HirstyGUEST
Nurses, I believe at the time, were originally on the list.
Lucas HirstyGUEST
And also, I can't stand a private attorney who bashes a public defender to try to get business.
Lucas HirstyGUEST
If that's ever the case, that's a red flag.
Lucas HirstyGUEST
But what I tell people now is that for the last 20-some years, there has been a shift in the dynamic of people who seek out being public defenders because of the public service loan forgiveness program.
Lucas HirstyGUEST
It's no longer a last resort job.
Robert FarringtonHOST
so you can dive deeper.
Robert FarringtonHOST
Today, we're talking about the new House bill that would make farm and ranch workers eligible for PSLF.
Robert FarringtonHOST
Very cool.
Robert FarringtonHOST
A bipartisan House bill, doesn't happen often, would add farm and ranch work to the list of jobs eligible for public service loan forgiveness.
Robert FarringtonHOST
Borrowers would still need 120 qualifying payments, of course, the same rule that applies to everybody else in the category.
Robert FarringtonHOST
So, here's why it matters.
Robert FarringtonHOST
PSLF eligibility depends on who the employer is, not what you went to school for.
Robert FarringtonHOST
Government agencies and 501c3 nonprofits do qualify.
Travis HornsbyHOST
Oh, you're having trouble making your payments? Let's do a forbearance.
Travis HornsbyHOST
And the bad thing that happened, of course, is people were not getting credit for forgiveness, right? They weren't getting signed up for PSLF.
Travis HornsbyHOST
They weren't getting signed up for the private sector version of forgiveness where you're paying for longer than if you're doing PSLF for, you know, for 20 or 25 years, now 30 years in some cases with RAP.
Travis HornsbyHOST
this whole idea of forbearance steering happened and servicers did steer borrowers towards forbearance.
Travis HornsbyHOST
And borrowers, generally speaking, if they asked specifically to make payments to not be put in a forbearance to sign up for income-based repayment or whatever it was, Generally, those requests were honored, but a lot of times that first option that was given to borrowers was, why don't we just pause your payments and have you not have to worry about it, right? And the rules for those severances were supposed to be you can get it offered at 12 months at a time consecutively.
Travis HornsbyHOST
So I have no idea how the servicers coded somebody being eligible for 10 years of forbearance because it's not what the rules are supposed to say.
Travis HornsbyHOST
But some people, I've seen it in their NSLDS files, they'll have like... years and years and years of forbearance in their loans, and it just doesn't make any sense, but they were given it.
Travis HornsbyHOST
So it's like, okay, it says forbearance, I have to believe you, right? That was one of the things that was causing a lot of people to not get forgiveness back in the day when you're seeing all those scary headlines, you know, nobody gets PSLF, it's a lie, blah, blah, blah, blah, blah.
speaker_1ADVERTISER
Or the other one I remember hugely in the student loan space
Meagan McGuireHOST
is the PSLF rejection rate is
speaker_1ADVERTISER
99%.
Meagan McGuireHOST
That was like the loudest thing that people heard in the student loan planning space for a long time or people who had student loans or who were entertaining public service loan forgiveness.
Meagan McGuireHOST
Yeah.
Meagan McGuireHOST
that's something that could definitely be a bias that if you hear something that's like loud or scary or exciting, like that's all that's kind of going through your head.
Meagan McGuireHOST
And I think I use the term like it was in an echo chamber and that's what it felt like, like that specifically, like the PSLF rejection rate being 99%.
Meagan McGuireHOST
It was like in an echo chamber.
JewlzHOST
You'll need to determine which program you could potentially qualify for.
JewlzHOST
So some major programs to be aware of are public service loan forgiveness.
JewlzHOST
And so this is qualified based on your employment, the loans, your payments, and there are specific program requirements that you'll need to apply.
JewlzHOST
follow.
Emily KingHOST
I was offered a part-time DVM position there with a pay of approximately $77 per hour, no production, as well as vacation time, a stipend for health insurance, and partial coverage of CE and licensing costs and a 401[k] with match.
Emily KingHOST
Also would qualify for PSLF.
Emily KingHOST
I thought this was a very competitive offer and was honestly surprised.
Emily KingHOST
Not sure if the offer was this competitive because they were that badly in need of a vet for their GP side of things or if this would be a standard across the board for other PetSmart charity clinics.
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