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…
The Federal Reserve is meeting today and widely expected to start to reduce interest rates. I last heard that there was a 55% likelihood for a .50 cut. Frankly, I’d expect a .25 cut. But if they want to reach a goal of 100 basis points cut by year end,…
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…
Want to get out of debt by the end of the year? It’s possible. Really! How, you ask? File Chapter 7. These bankruptcy cases only last three months – 90 days. Wouldn’t it be nice to stop trying to juggle everything? Feeling overwhelmed with your finances? We often can help. …
This month, lots of debt collectors are filing cases. You may have been served recently. First, don’t ignore it. If you ignore a summons, it’s easy for the debt collector to get a judgment and start to garnish your wages or bank accounts. Don’t do it. We call that “low…
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…
So you may have heard by now that all consolidation applications are being processed by Aidvantage. The online system is completely frozen. And that most people are being placed into forbearance while the system is frozen. Just last week, the Department of Ed asked one of the courts for clarification…