Some PSLF misinformation here very much worth clearing up and not scaring people out of smart financial decisions.
1. Loans forgiven under PSLF are very much not considered taxable income. It's the first bolded hit on a google search but here ya go. Wiped out. No tax. Bada bing.
2. There were a ton of failed PSLF applications early-on. The program was a mess, and a lot of borrowers with different types of loans, and those who had consolidated mid-way, were told that they had non-qualifying payments, or had to start over. There are specific new laws and programs intended to correct some of that confusion, and the system has been almost completely overhauled. If one has the right types of loans (Federal Direct), and has had the loans consistently over the repayment period, the program does in fact work.
Telling someone to make a decision on whether to pursue PSLF w/ IBR by asking them to look at the "success rate" circa 2017, instead of actually researching and clarifying whether they qualify (as if it's a roll of the dice), is incredibly bad advice.
