- I wish the views on this channel were much higher. Christie is both thorough and concise. It’s the best channel on YouTube regarding student loans.
I know that it’s more confusing than normal now with all the litigation and holds put on federal student loans right now. Processing of IDRs have been slowed considerably – and while you wait, your loans are placed into forbearance. This forbearance may ultimately count toward IDR but it’s a mixed bag whether it will count if you ask now.
The whole system is a mess and this is simply unprecedented. A lot is unknown and will depend upon the U.S. Supreme Court and the presidential election.
A couple things are at least clear. If you have an injury, illness or are of advanced age where you simply cannot work full time, you may be eligible for a Total and Permanent Discharge (“TPD”). If so, please reach out to us. We have streamlined this process and if eligible, you’d likely receive a discharge of federal students before the election.
Second, if you have FFEL loans, you may need to consider consolidating to Direct loans if filing a bankruptcy or to maximize your student loan forgiveness before September when the IDR audit is expected to occur. But be careful, while a consolidation can still be processed, if you have a bunch of prior IDR payments, you don’t want to do anything that would risk that.
We’ll continue to post here on this blog and on our YouTube channel as more things become clear.