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Messages - jmichman

Ask a Question / PAYE after 20 years
January 10, 2018, 07:12:59 pm
I'm a 45 year old Doctoral candidate that is just beginning to pay back loans.  My current payment and my anticipated future payments will likely all be interest only payments.  I want to know if debt cancellation will be automatic or if I can elect to continue the program after 20 years.  It may end up that 10% of my income from 65-Death will be much cheaper than the taxes I will need to pay at 65 should the debt be canceled.  I already own a home and have a 401k so it's unlikely I will be insolvent.