shyt if u did exit counseling they straight up tell u. That doing non profit shyt qualifies u for PSLFFYI - for all the brehs out there who are struggling with student loan debt - start your own non-profit organization with a couple of trusted friends (or on your own).
Tutoring, sports camps, whatever is easiest for you to do.
You'll immediately qualify for PSLF - significantly reduced monthly student loan payments, and full forgiveness of whatever balance remains at the end of 10 years. If your taxable income in that time period is low enough (and your debt high enough), you could end up paying less than the damn interest on the loan over that 10 year period - never mind the principal.
This makes more sense the higher your student debt load. Some nikkas out here with 100k+ from undergrad and another 200k from law school or other professional schools...you can wipe all of that clean this way.
You can compound your gains by being an independent contractor or starting your own business. Rather than taking a distribution or drawing much of a salary beyond minimum wage from your business, donate what you'd have paid yourself to the nonprofit you control, and pay yourself out of the nonprofit. That way you capture the maximum charitable tax deduction possible, while also minimizing your student loan payments over that 10-year period to maximize how much of your student loans are forgiven (the less you pay, the more of your loans the Feds have to eat)
Find some cash-paying customers on the side to help keep up your standard of living - those dollars will go straight to your daily consumables (food, clothes, gas), vacations, etc. They never touch a bank account.
There's no asset test for PSLF forgiveness - so you can still own property, make investments, etc. while you participate. And you can make those investments out of income from the business that you own - you're eligible for a Solo 401(k) where you can park up to $37,000 / year in income, tax-free (18.5k from what you'd pay yourself, and 18.5k "matching"). Opening one costs $20 a year with Vanguard.
Get this money brehs
HAS JORDAN CLARKSON LOST HIS DAMN MIND
- Thread starter Darealtwo1
- Start date
panopticon
Superstar
Yeah...they usually tell cats to work for one.
They don't usually tell em that they can set one up on their own for next to nothing...and still get all the benefits of working in the private sector or for themselves (increased income, more opportunities for tax deductions, etc.) while getting that PSLF
UpAndComing
Veteran
Black people afraid to start a business, so they're laughing in thread from nervous anger
Long Live The Kane
Tyrant Titan
When cats structure their summer camp hustles as non-profit organizations...
Those donations from all over the place start comin in...because "its for the kids"
One newspaper feature about how they're "keeping kids out of trouble"but "need more community support"
and its on and crackin
Meanwhile they're still charging families to send their kids to camp...because there's no law against non-profits charging fees.
The nikka got his 3 best friends, his barber, and his wife on the board of directors
And he isn't an employee of the non-profit...he's a "contractor"...meaning everything he does associated with his duties turns into a tax deduction.
His wife the only employee of the joint...and because she's employed by a non-profit, all her student loans go to $0 after 10 years...that PSLF shyt is real, brehs
The fukkery that goes down with these joints...shyt will blow your minds brehs
Homie your posts in this thread is like when you listen to Rick Ross or Pusha T and start contemplating pushing weight for a quick sec ...
Clarkson would be out there with Pacquiao doing drills and making a pinoy and 1 mixtape.
The move at (1:33) is worth the asking price.
Rigby.
The #1 Rated Mixtape of all Time
Yeah without that move I don’t think they could afford two AS and potentially Randle
Dilltastic VolWon(derful)
Superstar
over Lou Williams and/or Eric Gordon
I NEVER SAID THIS, I SAID HE WAS IN THE RUNNINGS
LIKE LEBRON WAS IN THE RUNNINGS FOR MVP THIS YEAR, EVEN THO WE ALL KNOW THE AWARD WAS GOING TO HARDEN
DJ Paul's Arm
Veteran
Is that you Mr. Clarkson?
Born2BKing
Veteran
I'm going to the Kwame Brown basketball camp next month. Only $15
When cats structure their summer camp hustles as non-profit organizations...
Those donations from all over the place start comin in...because "its for the kids"
One newspaper feature about how they're "keeping kids out of trouble"
Meanwhile they're still charging families to send their kids to camp...because there's no law against non-profits charging fees.
The nikka got his 3 best friends, his barber, and his wife on the board of directors
And he isn't an employee of the non-profit...he's a "contractor"...meaning everything he does associated with his duties turns into a tax deduction.
His wife the only employee of the joint...and because she's employed by a non-profit, all her student loans go to $0 after 10 years...that PSLF shyt is real, brehs
The fukkery that goes down with these joints...shyt will blow your minds brehs