Today I received the best form letter ever. I’m thinking about getting it framed because things like this never happen. It was completely unexpected in the sense that I have never heard of this. Read the full letter below.
Dear NTHEA Borrower:
North Texas Higher Education Authority (NTHEA) is a non-profit student loan secondary market. Because of our non-profit status we are able to offer our student loan borrowers benefits that other agencies / lenders may not. One of these benefits is rewarding student loan borrowers by forgiving the remaining balance on their student loan(s).
We are pleased to inform you that the remaining balance on your student loan(s) owned by NTHEA and serviced by Nelnet, Inc. have been forgiven. Your loan(s) are now considered paid in full and will be reported as such to all appropriate parties.
Because this forgiven amount is less than $600.00 you do not have to report this amount as income to the federal government, and you will not be receiving a form 1099 from us.
NTHEA thanks you for your business. If you have future student loan needs we encourage you to choose an NTHEA lending partner.
If you have any questions, please contact us at 1-800-366-4372 or metro 817-461-2333.
Sincerely,
North Texas Higher Education Authority
www.nthea.com
This means I am completely without debt of any sort, which has not been true since I started college almost exactly ten years ago. That’s quite an anniversary present. Thank you, student loan gods. I only had the equivalent of two payments left, but this is a very welcome surprise. I had been doubling and tripling up my payments so much that my next loan payment was not due until June of 2010. The funny part is I just started snowballing on the student loans as soon as they had online payments. Before that I just waited for my statement each month. What’s my secret? I made it a habit to pay a little more each time I thought about it, even if it was only $25. That adds up.
What does this mean for you? Pay off your student loans ahead of time and you’ll pay less in interest and maybe even get a little parting gift at the end of it all.
You so smart!!! You must take after your mom!!!
Love you,
Mom
I know. You say that about EVERYTHING. I mean the part about taking after you.
Congrats, although I am really getting used to this whole “living on money I didn’t work for” thing. If only I could find a way to stay in school until I die…
See, that’s the real challenge… on the other hand if you could do that, wouldn’t your children inherit the debt? At the very least it would be taken from your massive estate. As for going to school, after a while I started feeling like higher education was just another business, although an advanced degree has certainly helped my gf.
I am glad you liked our “ELF” program.