Do you think that in the future, those who work part-time (under 30 hours a week) for the government or a non-profit will have their months counted if they submitted the one-time IDR waiver in 2022? I worked 25 hours a week 2019-2023 and it would be great to have those months counted.
I'm not sure without looking at your loans what you should do, but you might be able to recertify before the tax filing date. Everything depends on when your recertification date is.
Im self employed and on the SAVE plan. Im about to get a big settlement for 3 years of spousal arrears. Will I be paying 1000+/ month for a year until I submit 2025 taxes?
Whether your payments will increase depends on how you document your income. There are ways to strategically avoid having that one-time payment used against you.
Is an ICR loan the same as a IDR loan? And will the ICR consolidation qualify for the forgiveness? I do not qualify for the IDR.
Do you think that in the future, those who work part-time (under 30 hours a week) for the government or a non-profit will have their months counted if they submitted the one-time IDR waiver in 2022? I worked 25 hours a week 2019-2023 and it would be great to have those months counted.
I do qualify for SAVE but that would make the payment nearly 3 times what the ICR would be.
Thank you so much for sharing this knowledge with us.
Glad it was helpful!
If my 2023 income will be higher and recertification day is early June, would it be okay to re-certify just before doing taxes in April?
I'm not sure without looking at your loans what you should do, but you might be able to recertify before the tax filing date. Everything depends on when your recertification date is.
Im self employed and on the SAVE plan. Im about to get a big settlement for 3 years of spousal arrears. Will I be paying 1000+/ month for a year until I submit 2025 taxes?
Whether your payments will increase depends on how you document your income. There are ways to strategically avoid having that one-time payment used against you.
Excellent!