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SquarePegGuy
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SquarePegGuy is tired
 
Member Since: Mar 2020
Location: Northeastern USA
Posts: 367
3 yr Member
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Default Apr 15, 2023 at 09:50 PM
 
I've been fortifying myself to meet my Student Loan obligation. The loan is a Parent Plus loan that I took out to fund my daughter's education.

I've never made a payment due to the COVID-19 Payment Pause, which was extended yet again due to litigation by a Texas judge.

I don't expect this pause to go on indefinitely, so...
  1. I plan to contact the loan folks to get the $10K debt forgiveness (but that's not likely to happen due to the litigation).
  2. Request forgiveness due to a change in circumstances, namely my wife "graduating" from hospice but needing home care that I pay cash out-of-pocket.
  3. Set up the Roth IRA for automatic payments as a fallback.
So I made progress on #3. I have the form that's needed to request monthly transfers out of the Roth IRA and into my checking account. I expect setting up the automatic payment to the loan will be pretty easy. The only problem is that the loan amount exceeds the balance in my Roth IRA! And it was supposed to be used for my retirement!

Anyway, nice to see folks from Barbara Sher's message board are still active!
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