Consider how much of your time goes into monitoring student loans, keeping up with changes, dealing with servicers, budgeting, stressing, and ultimately trying to pay off the loans, and it’s tempting to wonder if the whole thing isn’t just designed to keep you running on a hamster wheel.
Adding to the frustration is the amount of time it’s taking for normal functions of the Dept. of Ed. to complete, such as PSLF employment certifications and simply getting our loan information restored after MOHELA was sidelined in April. I hit 120 months of PSLF employment in July & the Ed. Dept. is sitting on two PSLF employment certifications for July & August, and they only have my loan details from Nov. 14 through Jan 24, despite my loans dating back to 2009. In sum, I qualified for PSLF in July. But because they lost my loan information and are taking months to certify PSLF employment (for a job I’ve worked continuously for 10+ years with no interruptions and have certified annually, so it should be easy to approve this last year), I just keep making my loan payments until they get around to reviewing/correcting/updating my account & employment certifications.
Pslf is aweful I didn’t have a great experience with Fedloans either. I started send in docs by email after they didn’t get fax and to have time stamped on when emailed in!
Congrats on 120. I hit in May. I certified in April. So they have my count at 119. I did my new recertification July 10th. I am n week 7 of wating on them to do my certification.
I live in a blue as hell state so it might not do much but I emailed my senator and house rep about it today. I'd say we should strike until they figure it out but I feel like with my job (community mental health) so many of our clients rely on us to literally get through the day without a hospitalization or trying to die by suicide.
Thanks! PSLF was a positive sign, but the recent " forbearance " email notification is confusing. My expected repayment amount was substantial in contrast to what I was told when I spoke with someone in 2022. Still better than when I was in repayment mode in 2018 (mortgage plus car payment amount). It is confusing. $1200, then $55, then $0, then $450, and now on hold.
@@redpill-finance That's a conservative conspiracy theory. If they are so concerned with this, why hasn't there been any conservative push to investigate public university spending? They have the Senate and the Supreme Court, what's stopping them?
It absolutely would not. The loans were on pause for years with most people not paying them at all and nothing happened. Stop letting politicians lie to you. There is enough money for college to be free. We should only be paying for graduate degrees if we need to pursue them. Forgiving these loans would do nothing to the economy but free people to be able to buy homes and have kids. Because right now, these loans are preventing people from living their lives. They are predatory and shouldn’t have happened. You can’t even discharge them in bankruptcy.
As someone who is just 1 year into repayment and doing PSLF, would it make more sense to go ahead and put in an application for IBR to switch plans from SAVE so that I can start getting credit towards PSLF? Or would it still be best to wait?
How do I complain to the Dept of Ed? I submitted an IBR application by mail (certified) and could feasibly pay what that entails, getting PSLF credit. As of Sept 13, MOHELA refuses to process my written application. Nor will they put me on a processing pause. FSA doesn't care. I submitted a complaint on their site. What I wish I could do is sue Dept of Ed. I actually have 120 payments right now anyway, but FSA says it's "in review." Argh!!!!!
Would love to get an update for those of us with Parent Plus loans. Should we still consolidate so that we are ready for possible good outcomes? I assume yes, as other income based options become available. Wondering also about Mohela not consolidating, etc.
I just consolidated some parent plus loans last month and I’m in the process of doing the second round, I’ll let you know what happens but I think you still can as long as you do it on paper and mail it to the loan services
Could you have a lawyer review one of the PAYE IDR contracts fine print? The contract we signed talks a lot about loan forgiveness. This is a contract and would it be legally binding? A video would be great about this. Also, a video discussing how many people were told part of qualifying for Biden/Harris forgiveness required consolidation and enrollment into PAYE IDR. I had a lower interest rate and consolidated and now I’m even more f’ed. What options do we have about this? I submitted a complaint to a consumer financial
I was with Nelnet and realized I no longer was getting payment withdrawals. I go to Nelnet and my loan has been sold to Sloan Servicing 😮. Suggestions pls… bec at this point it’s prob in default
Thank you for your really great videos. You help people realize they are not alone in thinking this is crazy. It sounded to good to be true, and hopefully it is not.
So my kids graduated in May and didn’t apply for SAVE yet. I read that they can consolidate loans and still apply for SAVE through their provider with a form. Should they do that now? They have no idea what to do or how much they will have to pay. Help!
I stopped paying my credit cards and car payment because of the student loan bail out I was a poor kid who never could afford college , I worked ups package handler nights while working construction during the day I had to retire earlier due to my body falling apart now my credit is probably in the toilet but one thing I'm sure of my identity will not be stolen 😂 .
First loan entered repayment in 2004 second set loans taken 2009 and entered repayment in 2011 so I should be qualified under grad forgiveness under 20 years rule under IDR correct? There was forebearance for in grad school and temp hardship rest were forced forebearance during COVID and save plan crap. I paid off 43k in COVID and 42k to go! Skeptical of any IDR forgiveness I have 84 payments in pslf after recertification of years of employment and lots calls letters complaints. I’m not long at qualifying employment bc I said no more 9-5 a year ago. What if I’m a mental health coach is there similar forgiveness like counseling? My current plan hold my breath and plan pay off balances.if I broke law I’d go to jail but ok for banks and govt to commit fraud and break the law!
Many of us have been paying our loans for decades. If billionaires can get tax cuts for simply existing whilst sending jobs overseas to maximize profits- student loan restructuring shouldn’t be a hard sell as idiots are making it. Especially considering that colleges/universities are price gauging students.
All those millions of dollars in PPP loans that so-called lawmakers got were forgiven.....millions in free gov't money to their friends and family but sweat Public Service Workers ......of course you would.
Why we waiting on govt and banks who band fraud fake money out of thin air to forgive our loans? I used to hope for forgiveness til I learned what’s really going on! They make fake money to create the debt but it’s our labor that pays them back on real money. Student loans is one biggest scams from the government. Govt banks businesses are in debt so are we and it all falls in the back of us the people. That’s problem but I know the solution!
Consider how much of your time goes into monitoring student loans, keeping up with changes, dealing with servicers, budgeting, stressing, and ultimately trying to pay off the loans, and it’s tempting to wonder if the whole thing isn’t just designed to keep you running on a hamster wheel.
Travis for Secretary of Education 2028!!!🎉
Adding to the frustration is the amount of time it’s taking for normal functions of the Dept. of Ed. to complete, such as PSLF employment certifications and simply getting our loan information restored after MOHELA was sidelined in April. I hit 120 months of PSLF employment in July & the Ed. Dept. is sitting on two PSLF employment certifications for July & August, and they only have my loan details from Nov. 14 through Jan 24, despite my loans dating back to 2009. In sum, I qualified for PSLF in July. But because they lost my loan information and are taking months to certify PSLF employment (for a job I’ve worked continuously for 10+ years with no interruptions and have certified annually, so it should be easy to approve this last year), I just keep making my loan payments until they get around to reviewing/correcting/updating my account & employment certifications.
Can we sue yet
wiill They reimburse you
Pslf is aweful I didn’t have a great experience with Fedloans either. I started send in docs by email after they didn’t get fax and to have time stamped on when emailed in!
Congrats on 120. I hit in May. I certified in April. So they have my count at 119. I did my new recertification July 10th. I am n week 7 of wating on them to do my certification.
@@kristenw9995what is recertification? Is this something my HR does or I do? I have 5 years.
Borrowers are at the mercy of the animals having a brawl at our expense.
Thanks for this info. It is so hard to get updates on this stuff and your thoughts are so helpful.
I live in a blue as hell state so it might not do much but I emailed my senator and house rep about it today. I'd say we should strike until they figure it out but I feel like with my job (community mental health) so many of our clients rely on us to literally get through the day without a hospitalization or trying to die by suicide.
Thanks! PSLF was a positive sign, but the recent " forbearance " email notification is confusing. My expected repayment amount was substantial in contrast to what I was told when I spoke with someone in 2022. Still better than when I was in repayment mode in 2018 (mortgage plus car payment amount). It is confusing. $1200, then $55, then $0, then $450, and now on hold.
They could have forgiven the loans by now.
The Koch brothers funding this injunction could have audited the universities and realized how much they waste
@@redpill-finance That's a conservative conspiracy theory. If they are so concerned with this, why hasn't there been any conservative push to investigate public university spending? They have the Senate and the Supreme Court, what's stopping them?
Do you have any idea what that would do to the economy? The dollar would collapse
It absolutely would not. The loans were on pause for years with most people not paying them at all and nothing happened. Stop letting politicians lie to you. There is enough money for college to be free. We should only be paying for graduate degrees if we need to pursue them. Forgiving these loans would do nothing to the economy but free people to be able to buy homes and have kids. Because right now, these loans are preventing people from living their lives. They are predatory and shouldn’t have happened. You can’t even discharge them in bankruptcy.
Aliens could have landed in the desert too
Why pay them off? They made the deal Live with it
As someone who is just 1 year into repayment and doing PSLF, would it make more sense to go ahead and put in an application for IBR to switch plans from SAVE so that I can start getting credit towards PSLF? Or would it still be best to wait?
I have 11 months left on pslf...can I continue to make payments now that will be counted later when they take off the forbearance?
How do I complain to the Dept of Ed? I submitted an IBR application by mail (certified) and could feasibly pay what that entails, getting PSLF credit. As of Sept 13, MOHELA refuses to process my written application. Nor will they put me on a processing pause. FSA doesn't care. I submitted a complaint on their site. What I wish I could do is sue Dept of Ed. I actually have 120 payments right now anyway, but FSA says it's "in review." Argh!!!!!
Would love to get an update for those of us with Parent Plus loans. Should we still consolidate so that we are ready for possible good outcomes? I assume yes, as other income based options become available. Wondering also about Mohela not consolidating, etc.
Dept of ed does not allow consolidation for parent plus at this time. You will need to pay.
I just consolidated some parent plus loans last month and I’m in the process of doing the second round, I’ll let you know what happens but I think you still can as long as you do it on paper and mail it to the loan services
@@Minecraftgamers567Thanks! Who did you consolidate to? Mine are with Aidvantage now.
Could you have a lawyer review one of the PAYE IDR contracts fine print? The contract we signed talks a lot about loan forgiveness. This is a contract and would it be legally binding? A video would be great about this. Also, a video discussing how many people were told part of qualifying for Biden/Harris forgiveness required consolidation and enrollment into PAYE IDR. I had a lower interest rate and consolidated and now I’m even more f’ed. What options do we have about this? I submitted a complaint to a consumer financial
I was with Nelnet and realized I no longer was getting payment withdrawals. I go to Nelnet and my loan has been sold to Sloan Servicing 😮. Suggestions pls… bec at this point it’s prob in default
Thank you for your really great videos. You help people realize they are not alone in thinking this is crazy. It sounded to good to be true, and hopefully it is not.
So there is one day left for the idr adjustment? Should I expect it? What’s the deal?
So my kids graduated in May and didn’t apply for SAVE yet. I read that they can consolidate loans and still apply for SAVE through their provider with a form. Should they do that now? They have no idea what to do or how much they will have to pay. Help!
The email on this stated the interest could be “the relief” if it is lower than the 20k. Am I understanding that right?
Will REPAYE come back?
I stopped paying my credit cards and car payment because of the student loan bail out I was a poor kid who never could afford college , I worked ups package handler nights while working construction during the day I had to retire earlier due to my body falling apart now my credit is probably in the toilet but one thing I'm sure of my identity will not be stolen 😂 .
If you get a loan pay it back pretty simple ticks
First loan entered repayment in 2004 second set loans taken 2009 and entered repayment in 2011 so I should be qualified under grad forgiveness under 20 years rule under IDR correct? There was forebearance for in grad school and temp hardship rest were forced forebearance during COVID and save plan crap. I paid off 43k in COVID and 42k to go! Skeptical of any IDR forgiveness I have 84 payments in pslf after recertification of years of employment and lots calls letters complaints. I’m not long at qualifying employment bc I said no more 9-5 a year ago. What if I’m a mental health coach is there similar forgiveness like counseling? My current plan hold my breath and plan pay off balances.if I broke law I’d go to jail but ok for banks and govt to commit fraud and break the law!
If you work for a non-profit then, yes you would qualify for PSLF
People just need to pay their loans off
Just pay your loans. First rule in life after college there is no forgiveness only hard work.
Many of us have been paying our loans for decades. If billionaires can get tax cuts for simply existing whilst sending jobs overseas to maximize profits- student loan restructuring shouldn’t be a hard sell as idiots are making it. Especially considering that colleges/universities are price gauging students.
All those millions of dollars in PPP loans that so-called lawmakers got were forgiven.....millions in free gov't money to their friends and family but sweat Public Service Workers ......of course you would.
@@guidedtimeThey don't care about the working class or the poor. The rich mock us.
Why we waiting on govt and banks who band fraud fake money out of thin air to forgive our loans? I used to hope for forgiveness til I learned what’s really going on! They make fake money to create the debt but it’s our labor that pays them back on real money. Student loans is one biggest scams from the government. Govt banks businesses are in debt so are we and it all falls in the back of us the people. That’s problem but I know the solution!
Spoken like a true slave to the system