Many folks are receiving payment notices for federal loans even before February when the Great Restart is anticipated. Why is this? A few months ago, Congress finally addressed the older Federal Family Education Loans (FFEL or FFELP loans), and in the expansion to the CARES Act, ensured that all defaulted…
Here’s a link to the video. Please subscribe so we can continue to offer this information free to everyone! Thank you! We are happy to share our thoughts on the new Public Service Loan Forgiveness Waiver announced last month. It truly will fix most all of the problems…
Well this was a surprise! Polk State College was in the news today after having given a student loan write off press release. Students enrolled at this college between March 1, 2020 and June 30, 2021 are eligible for debt cancellation. This is separate from all the federal programs that…
We’ve been getting more questions lately from folks who have taken out U.S. loans (both federal and private) but now may live or work overseas. Saudia Arabia today, someone from Turkey last week. We can certainly advise these borrowers what action they can take under the new Public Service rules,…
There’s a lesser discussed requirement for TEPSLF: If the borrower is not in an IDR plan at the time they apply for TEPSLF, the previous 12 months of payments and the last payment made have to be at least as much as they would have paid in an IDR plan. …
Borrowers seem to be confused about: — the deadline, reading it to be in 2021, only 3 weeks away (the deadline is actually October 2022) — the effect of consolidation, believing they’ll lose a favorable interest rate, and that the interest rate will even matter (when on an income drive…
A longstanding problem has plagued PSLF borrowers when they try to get their 120 payments calculated for public service student loan forgiveness. Lost records, payments not counting b/c they were for the wrong amount even by a few pennies, paid ahead status, wrong payment plans, change in servicers, multiple year…
So what’s on tap for today? Huge news, the Public Service Loan program will now consider payments on Federal Family Education Loans (FFEL or FFELP). ED’s press release for this PSLF overhaul can be found here. This is the biggest roadblock for student loan borrowers who have attempted to have…
According to NPR: Department of Education is planning a MASSIVE change to PSLF rules via negotiated rulemaking to give retroactive credit for payments made on FFEL loans and loans that were later consolidated into Direct Consolidation loans. I got ahold of the issue papers in which the Department of Education…
We have three Facebook Lives set for this week starting tomorrow at 11:30 A.M. EST (Wed, Thurs and Fri): https://christiearkovichpa.activehosted.com/index.php?action=social&chash=26657d5ff9020d2abefe558796b99584.112&nosocial=1 Topics will be: Tips to Reduce Interest on All Student Loans TPD Update: No 3 year monitoring period? What to Expect From Public Service Loan Forgiveness in the Future. Please…