Will Non-profits Hold the Key to Student Loans?

[Justin Bilyj]

As one of the younger agents on this board I am coming across many people who have a TON of student loans. For my generation its almost the latest scam to secure the indebtedness of this country. One rule with student loans is that you can't just not pay them back by bankruptcy. Unlike being able to walk away from a home who has more loan than worth, students are chained to their loans no matter what.
There are a couple of ways to get out of the loans besides paying them back and one way is by working for a non-profit for 10 years full time.
I have a buddy who is getting his law degree (already has a cpa) and is looking into creating his own 501c for this very reason.
I also have a small business owner who has created their own non-profi, but not for that purpose.

Question for the pros who deal with non-profits, is there anyway to work for a non-profit in an insurance capacity?


p.s. know of any good links for non-profits etc.?

 

[LGilmore]

It all sounds good until the audit...

 

[Josh]

Do you have a link to the deal about working for a non-profit for 10 years to get out of the student loans?

 

[xrac]

Do you have a link to the deal about working for a non-profit for 10 years to get out of the student loans?

Here is some information:

Student Loan Forgiveness Programs - How to Get Your Student Loans Forgiven

If you have a federal loan and you're on an income-based repayment (IBR) plan, you can have the balance of your student loan forgiven after 25 years, or 10 years if you work in public service. All Federal student loans are eligible except, student loans in default, Parent PLUS loans, and Parent PLUS consolidation loans. Your monthly student loan payments are capped based on your income and family size. For example, family of 3 with an annual income of $45,000 would only pay $157 a month on an IBR plan. You can apply for IBR by contacting the lender servicing your loan. Loans taken out after July 22, 2014 on the IBR plan will be forgiven after 20 years instead of 25 years. President Obama recently announced plans to speed up that date to 2012. Visit the Federal Student Aid website and IBR Info for more information.

 

[Norwayguy]

Here is some information:

Student Loan Forgiveness Programs - How to Get Your Student Loans Forgiven

I notice it says public service does that mean if you work for a politician that's considered public service?

 

[magagent]

Actually, in certain states student loans can now be rolled into a Chapter 13 BK. Started in late 2011 I believe.

As one of the younger agents on this board I am coming across many people who have a TON of student loans. For my generation its almost the latest scam to secure the indebtedness of this country. One rule with student loans is that you can't just not pay them back by bankruptcy. Unlike being able to walk away from a home who has more loan than worth, students are chained to their loans no matter what.
There are a couple of ways to get out of the loans besides paying them back and one way is by working for a non-profit for 10 years full time.
I have a buddy who is getting his law degree (already has a cpa) and is looking into creating his own 501c for this very reason.
I also have a small business owner who has created their own non-profi, but not for that purpose.

Question for the pros who deal with non-profits, is there anyway to work for a non-profit in an insurance capacity?


p.s. know of any good links for non-profits etc.?

 

[Justin Bilyj]

Say goodbye to affordable E&O or contracting if that happens. I wonder, would any company DIScontinue their contracting if you did that?

 

[CaNewAgent]

For my generation its almost the latest scam to secure the indebtedness of this country. One rule with student loans is that you can't just not pay them back by bankruptcy. Unlike being able to walk away from a home who has more loan than worth, students are chained to their loans no matter what.

p

Were you and your generation forced to sign the student loan papers?

The government agreed to loan you and your generation enough money to get a formal college education. You and your generation agreed to pay the money back. You and your generation also received very favorable rates and repayment terms on these loans.

Now, you and your generation want to declare BK to eliminate his debt. This is a typical response by people in your generation. You and your generation are now looking for loopholes so you don't have to pay the loans back.

Who do you think actually loaned you and your generation the money for your education?

It was the tax payers who loaned you and your generation the money and who will end up paying the money you so eagerly want to default on. It was me and everyone else who pays taxes who loaned you and your generation the money for your education and who you want to stiff.

Be a man and hold up your side of the agreement. You received the education. Now, do something with it and make your payments.

I wish I could have received a government guaranteed loan for an education when I got out of high school. My only choice was to go to work and pay for it myself.

It's time for a reality check for you and your generation.

 

[Justin Bilyj]

Education that isn't worth what they loaned out. Ask all the graduates with no jobs. ALL debt should be dischargeable, instead you have a new form of slavery.

 

[Indy007]

I agree with you on re-paying what you borrowed. You're right, students who signed papers and agreed to re-pay the note, need to. What you're wrong about is the "you and your generation" bs. I am ASSuming you're an older guy. While I realize you paid into SS and Medicare, who do you think is REALLY paying for it now?

That would be the younger generation who will probably never receive those "entitlement" programs, though they will pay in their whole lives. I'm pretty sure the "you and your generation" folks didn't rack our country into insurmountable debt, that our grandkids will be stuck with. Think about it...

Were you and your generation forced to sign the student loan papers?

The government agreed to loan you and your generation enough money to get a formal college education. You and your generation agreed to pay the money back. You and your generation also received very favorable rates and repayment terms on these loans.

Now, you and your generation want to declare BK to eliminate his debt. This is a typical response by people in your generation. You and your generation are now looking for loopholes so you don't have to pay the loans back.

Who do you think actually loaned you and your generation the money for your education?

It was the tax payers who loaned you and your generation the money and who will end up paying the money you so eagerly want to default on. It was me and everyone else who pays taxes who loaned you and your generation the money for your education and who you want to stiff.

Be a man and hold up your side of the agreement. You received the education. Now, do something with it and make your payments.

I wish I could have received a government guaranteed loan for an education when I got out of high school. My only choice was to go to work and pay for it myself.

It's time for a reality check for you and your generation.