Understanding Biden's Student Loan Forgiveness Program
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- Опубліковано 6 жов 2024
- In this episode, Sonia Lewis joins Rashad Bilal and Troy Millings to discuss the recent announcement by President Biden to cancel over $5 billion in student loan debt. Get insights on who benefits the most from this forgiveness, how to apply, and the exclusions that may impact millions of borrowers. Sonia breaks down the intricacies of the income-driven repayment and sheds light on the glitch that left over 9 million people out of the forgiveness program.
The discussion also covers the Public Service Loan Forgiveness program and the critical details borrowers need to be aware of, especially for those with FFELP loans. With practical advice and valuable information, this episode is a must-watch for anyone navigating the complexities of student loan forgiveness.
#StudentLoanDebt #BidenAdministration #LoanForgiveness #IncomeDrivenRepayment #PublicServiceLoanForgiveness #EYLMedium #FinancialEducation #SoniaLewis #RashadBilal #TroyMillings
Hi, I’ve worked in the public sector for years. Making those student loan payments were extremely difficult but God…graduated in 2007 with a Masters Degree. Total cost was $55k but due to interest and not having the income to always pay the monthly payments, it ballooned to about $90k+…long story short, MY LOANS WERE FINALLY FORGIVEN IN January 2023! I’m still praying and decreeing total student loan debt collection for ALL borrowers🙏
Amen
That's wonderful. And while you're out of debt, millions still don't have health insurance! That POS Biden can find billions to help you but, people are dying because they can't get health care!
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Mine were forgiven also in Feb 2023. I was in that 1995 - early 2000’s group in school. I was in forbearance for years but did eventually get on the income based repayment plan and had been paying. Started with Sallie Mae to Navient to Aidvantage to Mohela with public service loan forgiveness.
We need her back to get more in depth for the different forgiveness brackets and what to do
My loans went from Sallie Mae- Navient - NelNet smh 🤦🏾♂️
I’m sorry NelNet sucks so bad.
Im in the education field and I know a lot people who have gotten the public loans forgiveness.
How about private loans? Any way to get it forgiven after 20 years?
Mine were forgiven 160,000
I was waiting for this real bad!
I received cancellation of all the student loans that amounted 15k
I didn’t receive cancellation but I received a huge interest rate fee out of nowhere. 😢
The fix, pay your bill on time.
Nope they aren’t helping anyone it’s bs. Only time didn’t pay was during the Covid and as soon as it resumed it’s the times higher.
@@JIPlatium I do. It's on autopay.
Hello Ms. Lewis nice to see you
I'm unclear on what everyone is calling "forgiveness."
Does the lender get stuck with a loss, or did the lenders get paid off?
They get nothing. You are forgiven. What you were going to owe you no longer would owe. The forgiven loan is reported on 1099-C and depending on the tax laws in your state you would then be responsible for taxes on that loan forgiveness.
they get money but they are servicers not lenders....like property manager
I need mine forgiven!
This is interesting
Thanks for this.
Does this forgiveness program apply to private student loans like navient ?
That’s what I wanna know
Navient is a loan servicer, not a lender
No, unfortunately not. Only federal student loans qualify.
Any advice for people who recently graduated college who are not in psfl?
What if someone has been paying on their Federal loans for 17 years??
HaaaD to get the first like on this 1🙌🏾
I haven’t paid nothing honestly but would I qualify if they are DIRECT CONSOLIDATED UNSUBSIDIZED ?? With aidAdvantage???
No monkey, you wouldn't
just eliminate the interest for people.....
ASA FAMILY :
CUT THE CHECK AND WE’LL PAY YOU BACK , FROM ALL THAT WEALTH YOU OWE US .
Blah blah blah , it’s all bs .
If we’re living in a cave or under a rock somewhere and we owe the government a cent they have no problems finding us , but if we make a mistake in something that doesn’t benefit us or aren’t aware or connected to this or that program they just created we’re screwed .
On the other hand they can make all the mistakes in world that benefits them and penalties us , all because we didn’t know about this program or opportunity or that program or opportunity .
It’s all bs because WS has worked exactly the way it was designed to work , they play stupid and it’s always at our expense , but just cleaning the slate clean for those who are in debt from their student loans is to complicated for the educated fools running this nation .
Wartime they have no problem finding us to fight for them no matter where we are , creditor have no problem finding us when we owe them no matter where we are , but when something they can do that’ll benefit us all of a sudden they can’t find us or there’s a glitch in their calculation or system .
Blah blah blah , it’s all bs .
B1 and reparations across the board family , in the form of CASH payments also , and in the same CASH way they originally stolen it from us FOR HUNDREDS OF YEARS .
ASA FAMILY :
I havent and i have paid 407 payments
Got's mine! 🎉
No you didn't stop the 🧢
I was one that qualified for the cancellation and even applied, but it sure isn't going to happen. All that talk is just platitudes. Even NESARA won't happen unless the great solar flash comes in and removes a lot of people to 5D. Disappearing and leaving the rest to argue over money. It is all on the system; no reason to investigate or complain. I show on that site that I had the extra thing to qualify for complete dismissal, but they don't care. I had that direct loan plus the Pell Grant recipient and that is supposed to qualify for the full forgiveness. Nothing doing. A lot of people were covered but not me.
I’m 47 what do I do now?
Nelnet?
They need to be shut down
Man Nino don’t trust no one who is 101 years old!!
No controversy. Pay your own damn bills like the rest of us program
So who qualifies to be forgiven???????
Persons who worked in public sectors, not for profit organizations. You must have made 120 on time payments to qualify for forgiveness
@@2cshanno No, it's not just public service. It's also if you've been paying on your federal loans (or loans backed/guaranteed by the Federal Gov) for 20+ years.
With all that EYL money and Troy still has student loans. Wow. #pocketwatching lol
I got skipped and I got skipped
My comment is I went to northwest college in Anaheim back in 2013.. they promised my we going to put you in a job before graduating . We going to give you your certificate blah blah blah. Shit I finish my program.. never put me on a job never give me my certificate. And they pull out 10,000 out of my fafsa with out not knowing .. stupid school now I have a bill over 10,000
no school can guarantee a job
Student loan forgiveness? What's next mortgage loan forgiveness credit card forgiveness car loan forgiveness? Pay you're own bills 💸💵
Student loans active sum bags
So corrupt
Women hold 2/3 of all student debt.
So if your 24 going on 25 your fucked?????
You're* not your
@@EnilSsab you know what the fuck I meant
@@Yeahyeahyeah-wf4lj you're definitely raised by a single mom. Most people who were raised in households with fathers accept constructive criticism. You've just showed the world that you are a statistic.
Exactly they aren’t saying anything for us
This is 90 percent 🧢…just work hard and pay them off….its better then believing someone else will pay them all for you
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