Originally Posted by
dracir1
Regardless of what you call it, it’s free money.
I agree that not all money is good money but:
if put the money in at least a money market or higher interest savings of at least 5%, and don’t touch it until you get the signed paperwork from the company that the “loan” or whatever it is is forgiven, then you come out ahead. If you get a CJO from another or get fired or otherwise leave before you get that’s paper, withdraw the money and interest and give it back. Unless I understand this incorrectly, it really is that simple.
And, if you can’t find a way for abstain from using part of the money before it’s forgiven, with todays FO pay, I would seriously wonder about your decision making in other places.
WTF. Take the money from Franke and smile. He doesn’t give it willingly often…
Three years from now, pay the taxes and use the rest to take your significant other on a nice vacation. Then get hired at mainline and leave.
The loan goes into the F9 books as an asset. It goes on the new hires credit score as a liability and effects their debt to income ratio. I know you realize the importance of credit and DTI when applying for things such as a home or car loan and interest rate. $52,000 over 36mo is looked upon as $1,400 per month outgoing debt when calculating DTI. Not to mention, you sign away the possibility of taking FMLA or a short term LOA of any kind without paying back the loan with interest.