ABC Action News Story on Student Loan Repayment

We were interviewed yesterday by Mary O’Connell for an ABC Action News story on student loan repayment:  https://www.abcactionnews.com/news/region-hillsborough/recent-report-sheds-light-on-how-federal-student-loan-borrowers-are-managing-repayment#google_vignette.

Fortunately, we were able to discuss the deadlines coming up in just a couple weeks!

“A lot of people are really squished on everyday living expenses that basically student loans come last,” said Christie Arkovich, the founding attorney for Arkovich Law. “And so, if you have the choice of paying rent or a car payment or food, you’re not going to choose student loans over one of those things.”

Arkovich wants people to know about a few deadlines coming up quickly.

One is for Fresh Start, a temporary program offering benefits for borrowers with defaulted federal student loans. That program ends September 30.

The other is the temporary on-ramp period.

“The government had a rather soft start, and so for the first year, this on-ramp program prevented negative credit reporting, any kind of collection activities, and so forth,” said Arkovich. “All that ends September 30, and so come October 1, you’re going to have potential garnishments and things that have really been put on hold for a long time now.”

Also, the IDR audit is expected to be finished by the end of this month for anyone who has been in a FFEL loan(s), or had extended deferment or forbearances.  This recount may really help you — consider combining your loans in a consolidation if it makes sense to do so for the most benefit.

The key is don’t wait until after the election is over!