Hey all, I have worked in nonprofit for 7.5 years, I qualified for PSLF, and then my position was eliminated (I was laid off). I have about $17,900 in federal loans with 4.1% interest, spread across 6 with 50% subsidized and the other unsubsidized. I am on the SAVE plan and am set to $0 monthly payments with my current income. After being laid off, I was pleasantly surprised by the interest I was getting from prospective employers in today’s job market. I landed another job in nonprofit and I started very recently. This job would earn me certifications that could potentially get me greater earning potential in the future. This job would be fully in person, with about a 20 min commute daily. However, today I was offered a job that would be fully remote with unlimited pto. I would be earning $13,000 more. It seems like a great opportunity that is more aligned with my passions. Work/life balance matters more than anything else to me. I have worked fully remote for a few years now and put a lot of value into that as well. However, this position is for profit, thus disqualifying me for PSLF. Both positions would be upward movements for me, but the latter fully remote position would be even more upward and getting me into the field I am more interested in. I need some advice. What would be the best option for my financial health long term? Would my loans suddenly being reinstated sink my credit score? If I aggressively attacked my loans and tried to pay them off relatively early, would having the additional take-home pay be more beneficial?
original posted by catlady2010 to r/personalfinance on Sat, 02 Mar 2024 01:09:51 GMT.