Be aware of IBR and the promise of loan forgiveness. These are relatively new programs and the first batch of people taking advantage are actually people who w

Be aware of IBR and the promise of loan forgiveness. These are relatively new programs and the first batch of people taking advantage are actually people who work in public service/non profit (whose loans get...or are supposed to get forgiven after 10 years). There are significant numbers showing the loan servicers engaged in fraud to prevent the forgiveness. One of the major loopholes is on an annual basis when income documents are due, the loan servicers would take extended periods to “review” the income docs and place the loans in forbearance for a month. Then when forgiveness time came they were denied for not having made payments (through no fault of their own) for 120 consecutive months essentially resetting the clock every year. Not to mention at any given point these programs can be axed, which I’m sure they will be if there were ever a significant portion of the population who would actually qualify for the forgiveness.