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Downsides to loanmaxxing?

Thinking of taking out the max amount for law school while w...
Disturbing cracking bawdyhouse chad
  03/18/23
As I understand it, the student loan forgiveness tax bomb co...
blathering scarlet institution lettuce
  03/18/23
You can get a top of the line $2500 computer for free too by...
Lilac motley stage old irish cottage
  03/18/23
Don't they allot you a fixed amount based on cost of living?
Disturbing cracking bawdyhouse chad
  03/18/23
What if Trump gets elected? Otherwise I don't see downsides....
Narrow-minded ticket booth
  03/18/23
Literally impossible for trump to get elected due to ballot ...
Henna Angry Indian Lodge Volcanic Crater
  03/18/23
*meme pic of Trump passing loanmo torch to Biden*
supple toaster library
  03/18/23
Yes but lol at the Dems having more than 45 votes in the sen...
Racy Scourge Upon The Earth
  03/18/23
They're getting even better at it
Henna Angry Indian Lodge Volcanic Crater
  03/18/23


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Date: March 18th, 2023 12:30 AM
Author: Disturbing cracking bawdyhouse chad

Thinking of taking out the max amount for law school while working full time at my WFH Government Sinecure, then doing PSLF. The cash part of the loan I'll use for my mortgage payments and I'll 401kmax and 457bmax through law school. Downsides?

(http://www.autoadmit.com/thread.php?thread_id=5308864&forum_id=2#46067463)



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Date: March 18th, 2023 5:17 AM
Author: blathering scarlet institution lettuce

As I understand it, the student loan forgiveness tax bomb comes back in 2025 unless Congress extends it (which seems unlikely unless the Dems sweep Congress plus the White House in 2024). Also PSLF could be modified or eliminated in the future. And you could also get fucked if you ever quit or lose your WFH government sinecure. So there are a number of risks involved. But it is potentially a lot of free money if it works out for you.

(http://www.autoadmit.com/thread.php?thread_id=5308864&forum_id=2#46067691)



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Date: March 18th, 2023 12:37 AM
Author: Lilac motley stage old irish cottage

You can get a top of the line $2500 computer for free too by adding it to your loan balance. And lots of other things like any "repair" you want to do to your car like a bigger turbo and a tune is covered. Thousands and thousands of dollars that are free because it all gets discharged the same as if you'd been really frugal. One guy here used the repair hack to basically build an entire new car and had the invoices just added to his loan balance.

(http://www.autoadmit.com/thread.php?thread_id=5308864&forum_id=2#46067481)



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Date: March 18th, 2023 2:58 AM
Author: Disturbing cracking bawdyhouse chad

Don't they allot you a fixed amount based on cost of living?

(http://www.autoadmit.com/thread.php?thread_id=5308864&forum_id=2#46067657)



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Date: March 18th, 2023 3:09 AM
Author: Narrow-minded ticket booth

What if Trump gets elected? Otherwise I don't see downsides. The loans will be discharged under the Biden second term and his Dem successor.

(http://www.autoadmit.com/thread.php?thread_id=5308864&forum_id=2#46067663)



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Date: March 18th, 2023 3:12 AM
Author: Henna Angry Indian Lodge Volcanic Crater

Literally impossible for trump to get elected due to ballot harvesting. We're safe.

(http://www.autoadmit.com/thread.php?thread_id=5308864&forum_id=2#46067665)



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Date: March 18th, 2023 3:32 AM
Author: supple toaster library

*meme pic of Trump passing loanmo torch to Biden*

(http://www.autoadmit.com/thread.php?thread_id=5308864&forum_id=2#46067668)



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Date: March 18th, 2023 9:01 AM
Author: Racy Scourge Upon The Earth

Yes but lol at the Dems having more than 45 votes in the senate after 2024.

(http://www.autoadmit.com/thread.php?thread_id=5308864&forum_id=2#46067814)



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Date: March 18th, 2023 6:14 PM
Author: Henna Angry Indian Lodge Volcanic Crater

They're getting even better at it

(http://www.autoadmit.com/thread.php?thread_id=5308864&forum_id=2#46069367)