Casper Posted February 9, 2020 Report Share Posted February 9, 2020 One of my best guys I work with turned in his resignation because he got that AWG letter, so his plan is to just keep job hopping. I'm trying to convince him to stay and work something out, but his 60K in student loans keeps going way up. We don't make much, so I told him he could do that income based repayment until he starts to make more, but he is pretty jaded and defiant. He says that it takes 9 months to officially default, so his brilliant plan was sending in a small payment every 8 months, but that obviously didn't work. How long can he stay at his new job before they track him down again? Quote Link to comment Share on other sites More sharing options...
WhoCares1000 Posted February 12, 2020 Report Share Posted February 12, 2020 They will find him again when he files a W4 with his new employer and the Department of Treasury shares that information with the Department of Education. At the longest will be tax season next year when they can look at his W2s and find out where he is working. The issue with his so called make a payment every 8 month plan is that technically, even if a payment is made, unless it is the full 8 months of payments, you are still behind and will go into default once you are 9 payments behind. Quote Link to comment Share on other sites More sharing options...
Casper Posted February 13, 2020 Author Report Share Posted February 13, 2020 OK. Thanks. I will let him know all that. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.