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…
Some details about the current status of PSLF – Public Service Loan Forgiveness: PSLF processing and tracking is no longer handled by MOHELA — You can get much more specific information on your PSLF progress, including a month-by-month breakdown of qualifying PSLF payments, through your account at StudentAid.gov, which is…
Right now, there is a lot of confusion regarding our federal student loan program. There are multiple federal cases and several injunctions that have pretty much frozen federal student loans. A couple things are still working. Total and Permanent Disability discharges of federal student loans, and filing bankruptcy on them.…
Here’s a review posted recently about our student loan videos: 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…
Bankruptcy is all about full disclosure. Tell the trustee or court whatever assets you have and in return you receive a full discharge of most debt. The reason I say most debt is because there are rules re: IRS debt, student loan debt and secured debt such as vehicles, 401k…
An email went out to federal student loan borrowers today that was rather vague. It basically said to stay tuned. None of us know exactly what the Biden administration is up too, other than confusing all of us, but it’s possible that they could be talking about this: A new…
PAYE and ICR for non-Parent Plus borrowers was supposed to be phased out under the SAVE regulations as of July 1. But those regulations are now blocked following the 8th Circuit’s order. So PAYE (and ICR) are available for borrowers to enroll, at least for now. But, the online IDR app is…
I had this ready to go last week, but just noticed it didn’t go out as planned. Still reviewing the impact of this Order, but it appears to block ED from implementation or action under the 2023 IDR regs that created SAVE and several other improvements to IDR while the…
Lots of fighting over student loan forgiveness right now. One of the big things we were (and still are) looking forward to is a change of law allowing bankruptcy debtors to obtain IDR credit for their plan payments. Previously, many debtors did not receive such credit because the Department of…