Parent Plus Borrowers: There is a pending bill called The Parent Plus Parity Act. If this bill becomes law it will: Make Parent PLUS borrowers eligible for all income-driven repayment plans—including SAVE Allow loan forgiveness if the child becomes eligible for Total and Permanent Disability discharge Make Parent PLUS borrowers…
Great news on the IDR Recount/Audit. The student loan ombudsman Bonnie Latreille said the Department of Education are almost done processing the One-Time Account Adjustment and that should be done very soon. She also said that borrowers who have multiple consolidations might see a delay—just because it’s trickier to calculate…
NEW – If you cannot get through to Default Resolution Group or FFEL Guarantor so client can enroll in Fresh Start by midnight Eastern on 9/30, THERE IS A NEW WAY TO ENROLL BY EMAIL! ON https://myeddebt.ed.gov/borrower/ SKIP WHITE BUTTONS, and READ LIGHT BLUE BANNER ACROSS TOP OF PAGE. CLICK ON THE SMALL click here “to…
It’s free, it’s easy, it’s a way to get IDR credit for the Covid period, and to show your federal student loans were in good standing for the past 3.5 years during Covid. Don’t let your federal loans remain in default, there is no win in doing so. They don’t…
Servicers (mostly Mohela at this time) are saying that borrowers should submit their recertification paperwork on time (You can upload it and/or mail it in), but it will not be processed until the injunction is lifted. If you don’t recertify on time, you will get booted to the standard repayment…
Fresh Start Ends Sept. 30: What Borrowers Need to Know
A few things I was thinking of today. First, we received notice from Nelnet of a client approval for Total and Permanent Disability. This particular client was pretty healthy, but was of advanced age of 76. I’m pretty sure no employer would be interested at age 76. He’s been retired…
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,”…
The processing of PSLF was turned over by Mohela to ED during the three months preceding July 1 and all work was paused during the transfer. Starting July 1, ED would have re-started reviews as it was doing the calculations from that point forward. Then the whole system paused July…
Believe it or not, there are still many people who are in default on their federal student loans. The Fresh Start initiative to allow someone to cure their federal student loan default ends September 30. The end of this month. If you are still in default after that, you’ll face…