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Employment Contract & Student Loan Reimbursement

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  • lilsnappa lilsnappa 
    Participant
    Status: Other Professional, Spouse
    Posts: 40
    Joined: 02/24/2016

    ~$70k in student loans remaining and in the process of signing a contract where the employer has agreed to pay off the loan (we’ve agreed on $70k). They will pay directly to SOFI. The agreement is 1/3 at start date, 1/3 at the end of year 1, and the remainder at the end of year 2.

    We’ve refi’d with SOFI and the payments are $850/mo. Looking for some guidance on how to handle this. Since SOFI won’t allow us to “pay forward” we’ll still have to make the monthly payment, so the last payment by the employer won’t equal the agreed amount.

    Even if we refi again to the longest term, we’ll still have to make $500/mo payments.

    Has anyone else had this issue?

    #198254 Reply
    Avatar billy 
    Participant
    Status: Physician
    Posts: 130
    Joined: 04/07/2016

    Refi to a company that allows extra payments to be used to pay forward?

    #198259 Reply
    SerrateAndDominate SerrateAndDominate 
    Participant
    Status: Physician
    Posts: 313
    Joined: 02/01/2018

    Maybe ask them to pay you guys the difference. Or maybe they just pay you guys the money directly since it’s all taxable anyway

    Earn everything.

    #198261 Reply
    Avatar ZZZ 
    Participant
    Status: Spouse
    Posts: 298
    Joined: 06/18/2018

    Have them pay you. Either way it’s taxable to you.

    #198297 Reply
    lilsnappa lilsnappa 
    Participant
    Status: Other Professional, Spouse
    Posts: 40
    Joined: 02/24/2016

    Are there any refi programs that allow for annual payments instead of monthly? My google searching has resulted in minimal results…

    #198885 Reply
    lilsnappa lilsnappa 
    Participant
    Status: Other Professional, Spouse
    Posts: 40
    Joined: 02/24/2016

    Refi to a company that allows extra payments to be used to pay forward?

    Click to expand…

    Does this exist???

    #199746 Reply

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