I’m definitely pessimistic on this one. I would love the interest relief,but I’m doubtful. I borrowed 76k and have paid 98k thus far with 20k left due to interest. It’s sucks but it is what it is. I am happy for those who have received relief regardless.
Pessimistic. Because it’s so broad, I don’t think it will work. However, eliminating interest through this plan and stopping accumulating interest through the SAVE plan would be extremely helpful. I’d still like to see an andministration address the cost of rising tuition.
I am going to say Pessimistic. I would love to see the interest relief. I would be okay with that even if the SAVE Plan gets shut down. Interest Relief and continuing the IDR Plans. Can you discuss the Republicans FAIR Act as a counter? Thanks!
They aren't intended to "pay out" no money is changing hands people are just having remaining interest dismissed. And if you're one of the millions looking at hundreds of thousands of dollars in debt after already paying back what you borrowed decades ago, it is a huge relief.
Same. One of my loans is over 20 years old and the other one is over 10 years and I'm under the SAVE plan or IDR but my loans are still not forgiven yet. Two of my friends' loans have been forgiven completely mid last year so I know it's true but not sure what's going on with me.
There will never be widespread student loan forgiveness, you might get it here and there with PSLF or disability or death but that’s about it. This has been a scam to get votes from the beginning. Student loans make up 50% of the federal governments budget. It’s not gonna happen.
Can you explain once again why every time they change my loan to another company it seems like a consolidation. They just changed my loan from Nelnet to another company and my principle has change. it keeps changing with each switch.
@@coraturner9383it benefits no one, they are just bribing people for their votes with poisoned apples, what they don't tell you is that the IRS sees that as income and you will get slammed with a giant tax bill that needs to be paid that year or your stuck on their IRS payment plan with 27% interest and they will own you, you will end up paying more in taxes then you did the students loans you could pay off over 30 years. They got my wife that way too when she had her student loans forgiven for a disability after an accident left her paralyzed. DemocRATS only offer poisoned apples never fall for it. There is a reason I walked away from the denocRAT plantation, everything they do is to benefit their ultra rich doners and so they can own the people they see as pee ons. BLACK AMERICANS FOR TRUMP 2024!!
Its true!! I just received letter yesterday My student loans were Discharged and Forgiven!!! Jesus Thank you!!!!❤❤❤ i was on a driven repayment Plan for 5 years .
I hate how Republicans in past years spend all of that money on those illegal wars. But, when it comes to something that could TRULY help the homeland, they want to use the word "illegal" for that and even have nerve enough to challenge it in court. That money that they threw away in wars was money meant to help us here in America!
You sure it was the Republicans? The Uniparty sure loves funding their foreign wars (Ukraine/Russia, Palestine/Israel) and feeding the Industrial Military Complex that lobbies Washington DC.
My dad has a PPL for 29k and has only made one payment. I (student) have 27k in federal loans (4 subsidized and 4 unsubsidized). None of these are consolidated yet. We plan to consolidate before the April 30th deadline but would appreciate any advice! My dad is a public servicer worker that would qualify (for the Parent Plus Loan) Do we need to consolidate this which would make it a direct loan in order to enroll in one of the IDR options? Which option is best? For my federal loans... is it best for me to consolidate them and enroll in SAVE program? How do people decide which student loan servicer is best? Also - does anyone know if combining my federal loans with the Parent Plus loan can be beneficial or not in this situation? I also pay 600 a month for private loans which I am assuming does not factor into any of this. Any help would be appreciated!
@@Greatful0374 honestly I didn't search for anything, it came to me, do you remember when Biden proposed the loan forgiveness, they shot it down, then he finally got it passed, well in the beginning of all that they sent out emails and you just applied then, look up student loan forgiveness, good luck.
I borrowed 20k after paying on it for years I owe 44K, how is that even okay. It needs to be fixed regardless of how the haters feel about it. I’d be happy with my payment being lowered and cut the interest.
College is a scam and things like loan forgiveness jsut gives them excuses to add more useless majors and raise costs NO ONE wins from loan forgiveness except the colleges it also encourages people who definitely shouldnt go to college to go and incur debt for something that doesn’t require a college degree
I think it does but, if you have more then one Plus Loan you can do a double consolidation and that would change it to a Direct loan and you are sure to be eligible for these alleged forgiveness plans. I believe you have until 2025 to do the double consolidation, but APRIL 30th is the last day to consolidate for the IDR waiver.
What if you received the letter back in 2022 saying your loans were eligible, and was approved for forgiveness, but the lawsuit got in the way etc... what can I do?
At this point? Look at other forgiveness programs. That specific forgiveness wasn’t applied to your account. So you don’t lose anything other than a promise you’d get that forgiveness if the court’s approved it.
@@sweathawgboudreaux3887 I’m in the process of having mine removed. Please research it. I never gave permission for them to be reported to the credit bureau nor did I receive the disclosures advising me of such. …. Duhhhh
@@dave2on730 they have to give you the instructions on how not have them report. I learned they never gave me the disclosures. Doesn’t mean they go away just mean by law they won’t appear on my credit report. You control what appears on it, Many don’t know this. Please look into and let me know what you find
If you apply for IDR plan now will you still qualify for forgiveness?nor has to already be on that plan? I'm currently not on one of those plans, I'm on extended graduated plan because monthly is way lower than IDR plan but I will switch if it means forgiveness
BIG MISTAKE!!! The IRS sees that forgiveness as INCOME, now you will have to pay a giant tax bill and it's due that year and it probably put you into a higher tax bracket, and if you have to go on their payment plan it's 27% interest and you will pay more in taxes a lot sooner then if you had just payed your student loans over time!! EVERY APPLE THE DEMOCRATS GIVE YOU IS POISON!! NEVER BITE!! THEY ARE BRIBING YOU FOR VOTES BUT WITH DEMOCRATS YOU WILL ALWAYS Pay ONE WAY OR ANOTHER!! And the difference is that a bank may send you to collections, but the IRS will send you to prison if you don't pay, especially when it comes to income tax!! So start sveing massively now!! Put away ever cent you can scramble for and get ready to pay those taxes or your completely fucked along with anyone else that was on that student loan with you!! This is why I abandoned the democRat party!!
I took out loans back in 1996 for my undergraduate and around 2003 for my graduate degree and have consolidated my student loans many years ago and have two loan servicers. I have been on an IDR plan with both for oe many years, do i need to apply for the SAVE Plan?
This shouldn’t even be a thing in the first place. If You took out the loan,you should pay for it… This was a great video and I feel informed for when this comes up in conversation in the future. Thank you
Honestly, I get sick of these types of comments. It is quite heartless! There are people who may not have had the opportunity to secure their education had it not been for student loans. Mostly the greedy rich and their offsprings are able to go to school without having to secure a student. Greedy meaning those who built wealth off the backs of free slave labor. If I could start a business today using absolute free labor, I’d be rich within a year. Please think deeper before writing this type of comment. Thank you.
@@archersunshine8890Thank you. I don’t know why these people are drawn to theses videos or are in the comments. We’ve borrowers have been through so much. It’s difficult and painful. Definitely not a game.
I was originally hopeful with the first round of loan forgiveness having 12 years of full time work experience working for 501(c)3’s. I was dismayed when I was told they’d only consider 6 of those 12 years. I’d like to be hopeful, but I’m very skeptical.
Hater alert. No, you can’t have your mortgage or car note forgiven. Student loans are different than those types of loans…and some ask me how. Do your own research before even commenting. Thank you!
Sounds like you’re the hater. It’s just a question. No need to foam at the mouth. Your debt is paid via the American taxpayer. So a thank you will be appreciated. Yes? No? Anyway, have good day!
@@goodoljackburton9211 I'm not a hater. You will have to admit that those who paid off their loans, used their GI bill, worked through college, and sacrificed (like I did) may have something to say about this. Stop calling me a hater, Jack. It's so whiney and b!tchy. Go talk to Jeremiah Babe about this loan forgiveness ploy to secure voters.
Okay i'm two weeks late, Today's the 27th. How do I get this done in the next three days? 🤔 I did this four years ago other people got alone and I did now I have a disability😢
Here’s our video breaking down whether you should consolidate for forgiveness: ua-cam.com/video/vYaTczj8kP0/v-deo.htmlsi=wHsIIbnRy-Ks3nrX If you still have questions after that, you might want to book a 1:1 call or talk with the FSA or your servicer.
Those that can't afford for themselves to go to college but they're paying for someone else to go or their kids it's not right nothing is free people grow up and become a man or willing to supposed to become on your own if you can't afford to go to college then I guess you don't go.
@@Kiernanglynn20 I’m not sure that is such a good thing. Look what is happening on our most prestigious and oldest college campuses. Do you know that those old colleges where founded and supported by Christians for the most part of a century?
Hilarious take! Where were you when trump filed bankruptcy over and over again or when he blew up the deficit or when we forgave PPP loans? Capitalism for students and socialism for the wealthy? Shame on you!
Hello Sir, I have a question I borrowed 32,000 for my nursing and I remember received the letter in the past approved for forgiveness then court denies Biden’s plan. The question is my repayment only start in June, do I need to enroll in a repayment plan. Please advise, much appreciated.
Thomas don't do it! The IRSC student loan forgiveness as taxable income!! You will get a massive tax bill and it'll probably put you into a higher tax bracket, and if you have to go on the repayment plan for the IRS it's a 27 interest rate it's insane!! You will pay more in taxes than you would just paying off the student loan, government only offers poisoned apples, government doesn't produce so anything gives away it has to steal from somebody else! They got my wife like that who is disabled after an accident and she got the student loan forgiveness, they hit her with a $70,000 tax bill, in the interest rate is f****** insane!! Don't fall for the Democrats scam!!
I heard about up to $20k in interest being forgiven under the president’s new plan. I consolidated in 2022 and I’m still not sure if any of that consolidated interest will be forgiven. Curious to see how that will work out.
You wouldn’t need to apply for forgiveness. Your file would be assessed for forgiveness credit so long as it’s owned by the education department. Switching to an IDR plan will let you keep getting credit toward forgiveness.9
Pessimistic about all of it because my repayment plan was changed without my permission. It should have ended repayments in 2019 but now I'm going to be forced to pay into 2030+ whenever. Now I'm lost because I don't know if I should consolidate through the one time adjustment or not.
They changed my plan without my permission as well. Then my remaining loans were forgiven. I was on the SAVE plan and they forgave the two unsubsidized loans then they switched me to the IDR plan and then they forgave the two subsidized loans.
Don't fall for the scam don't get the student loan forgiveness!! The IRS sees the forgiveness is taxable income! And it's due that year and if you don't pay you end up on the repayment plan! And their interest rate is like 27%!! You will pay more in taxes than you would just paying off the student loan over time! Anything the Democrats give us poisoned!!
I would say I'm hopeful, but I also don't hold my breath regarding the government doing anything. The runaway interest has become a real problem. I tell people to just keep paying their loans as if the government isn't going to do anything because, most of the time, they don't.
Does this mean I need to still consolidate my FFEL loans? I know we have until April 30th and am still feeling unsure of the best move. Probably need to book a consult with you...
Yes! It's my understanding that must consolidate your FFEL(P) loans into Direct Loans in order to even be considered for forgiveness. I submitted my consolidation application this week. You must do it before April 30th. Don't miss out.
I received letter from ED stating that I am eligible for student loan forgiveness. I was on Income Driven Repayment Plans, Economic Hardship plans, Forebearances since 1998. I consulidated my loans and now being told my accounts are closed and that I have a zero balance by several AidVantage representatives. I have not received a forgiveness letter or email. What should I do next?
Hi. There are so many info out there and it got me all confused. My current loan is under the SAVE plan with Nelnet. Do I need to transfer that to Direct Loan Program in order to get a loan waiver? Please help!
I have 2 FFLE loans that were on The Income Driven-Based program for almost 9 years. I called my student loan servicer. I spoke to three different representatives that said, I need to consolidate my loans by the deadline- April 30, 2024 by midnight, in order to get forgiveness. I The last rep' suggested the Save Plan. I consolidated based on the service's recommendation. Will I be eligible for forgiveness, or is this a trap?😮
@@dancerodieI never consolidated mine. I was on the SAVE plan. Then they forgave the two un subsidized loans. Then they switched me to the IDR plan. Then they forgave the two subsidized loans.
Your videos on this are super helpful b.c. it's a lot of info to unpack and understand, thanks for breaking it down. From this video am I understanding correctly if I am currently in SAVE plan the ED will sort it our and hopefully forgive something!? I went to Financial AID site yesterday to see if I need to consolidate my 2- Direct Loans 1-subsidied and the 2-unsubsidized - I was confused. Both are at a FIXED interest of 4.8 % I believe - is consolidating both to one in my best interest?? I graduated in 2007 Thank for any addtl info. You are awesome for helping us who are lost out here!!
I attended Brown Mackie in 2006 , they scammed many people and folks couldn’t use their degrees or certifications! I need to know how to relieve that debt from my credit
Does this applies to loans issued by states( private student loans) like Georgia Student Finance Commission? I'm in Georgia and I'm a little confused. Can you cover the difference between federal and state loans, and are they covered under the loan forgiveness program. I'm learning the hard way. I thought that all loans had been on hold, but I learned that wasn't the case.
Im 32 now. I had to take my dad off life support in 2019. Then had to put my dog down. Then spent 14 days in the hospital for a spleenic infarction. Blood clot formed in my heart or passed through it. Mentally I couldn't figure out how to even begin to finish degree. My mind made me feel trapped in a tornado of what do I do. I now have his house. I'm on my own. Stopped taking blood thinners. Heart meds. Cholesterol, and high blood pressure meds. To expensive for me to hold onto everything. All my Dad worked for. Can anyone help? Is this hardship?
I feel really optmistic about it. Maybe because I just found out that my student loan was forgiven in May 24. I had a older student loan, so what I did was 1) aoolied for the IDR plan. which meant I paid 0. Then about 5 months after it was forgiven. But! Something did catch me off guard. It seemed that my servicer listed the loan forgiveness as a discharge /write-off. This type of entry can affect your credit score. So be aware.
Dude, it sucks that I missed school because my family was broke, but I still have to pay for someone else's education. If you sign a contract, you should pay it off. Debt doesn't work like that. Student loans should be treated like any other loan. You can file for bankruptcy and get rid of everything except a student loan. Biden has been a terrible president. We have bigger problems at hand, social security is more of a scam now than it ever has been. If we didn't pay into social security I'm willing to bet people would have significantly more money to pay for the contract they decided to sign.
What percentage of your tax dollars are going towards other people’s student loans? What percentage of your tax dollars are funding wars? What percentage of your tax dollars are going toward migrants? Do you even know specifically where your tax dollars are going? Just another person making a comment without producing receipts. You didn’t go to college because you didn’t want to go to college!
SCOTUS already has said it's unconstitutional. I don't get why that isn't the end of it. I'd like my loan forgiven too but we have to respect the rules.
They said the way the Education Department tried to do it through the HEROES Act was wrong. There are still other ways to do it. The president's exploring those options. It remains to be seen whether those will be considered unconstitutional.
I will gladly accept Biden’s loan forgiveness program while still voting for Trump. If Americans reject this, believe me, foreign governments will be receiving it.
Can someone explain why after I consolidated, and made two full payments to Navient….Navient refunded both payments? I looked and I am in administrative forbearance. I have had my loans since 2003. Full time public servant for 8 years. Never had a default. Deferred for 5 years after having kids and had to stay home. Trying not to get my hopes up too high….
As much as I despise Trump and everything he stands for, what I despise more, paying for someone’s post graduate degree when I can barely pay for my own child’s college in the future. Seriously going to have to vote against Biden just because of this.
Let me ask you this, what percentage of your taxes are going towards paying someone else’s student loans that were forgiven? Do you even know the breakdown of how your tax dollars are spent, or are you like other uneducated folks making comments like this without knowing the facts? Stop hating just to be hating!!!
@@archersunshine8890 So, as long as it’s not too much that’s coming all of our paychecks and the future paychecks of our kids we might as well buy you a car too. What else do you think we should buy you? Clearly, you’re educated enough to know that money doesn’t just come out of thin air? The fact that you would have this type of attitude instead of just saying thanks shows a lot about your character.
Why should you expect anyone to be forced to contribute even one cent to pay for your privilege to attend college. Your choice your debt. I have no idea how much comes out of my taxes personally but if it’s even one penny to pay for an ungrateful loafer like you, it’s one cent too much. ;)
I have to be hopeful. The interest on my student loans has grown them far beyond my ability to pay them off and the amount I owe only gets larger with each passing month. It's like I bought a Kia but I am being forced to pay for a Maserati.
Puzzlement. I don’t know what plan would apply to me. I’m not working after several successful jobs. I was ill for a time. Now I need to find a job but my age is working against me also. I really am confused as to what plan fits me.
I have student loans and im in deferment. I was considering the disability discharge. But otherwise I have little intrest in ever paying them off. Just keep defering till whenever.
This was a very helpful video! Great overview and clear information. I am hopeful that folks receive loan forgiveness. These loans are not what the well you.
Its crazy that they didn't fight this hard when they were forgiven loans from banks and big corporations! I'm one of the people saddled with runaway interest. My loans were under $50K but being that I graduated during a recession and the housing market crashing back then it was really hard to find the job like it is today. Please tell me how my student loans are $100,000. I just consolidated and now is saying my student loans will be $268,000 it took me an additional 30 years to pay. Like howwwww? 😮
Loan forgiveness doesn’t help anyone cause the money doesn’t come from the private sector college is an absolute scam basically unless you’re going into a STEM field there’s no such thing as free money someone pays somewhere down the line and what the colleges do is pass it down to the people
I've worked in public service for 15 years and even with the promise of public service loan forgveness with 10 years of working for low wages in public service under previous administrations...republican and democratic, I've not received forgiveness. So I don't believe this will happen for anyone, ever.
I have been wondering what move to make. My loan is so old. I put in a form in 202 no answer yet. They are saying I'm on way to default. scared to consolidate it adds all that interest to my small loan. will it do same if I do IDR? I have 3500 loan and 14000 interest. My school did make list don't know why they even were arrested.
I don’t have any loans from undergrad but I am in grad school .. I graduate may 2025 but I’m curious how that would affect people like me . Will we be over looked since we aren’t in repayment yet ? I was planning on the civil service loan forgiveness 10 yrs after I graduate 🥴
Update ❗it's now fully forgiven to the tune of 51k,. "I just got the I know have $0 balance e email from Dept of Ed today. that I met criteria and it should be updated with my servicer by May,"
I am optimistic realist. I am glad they are they are planning for forgiveness, and creating so many avenues to get it done. BUT it is always string attached, so we will see.
Thank you soooooo much!! Extremely clear information!! Blessings. I had over $200,000 in student loans. I received an email of forgiveness but doubt it because it looks like a scam 😂 I just couldn't believe. I did apply for consolidation. I graduated 1995 but paid some of the debt then had hardship taking care of my grandparents until they passed away. Praying the email was true 😂. Thanks again for all you do. New subscriber.
The question is, for those who did pay their loans back, how do you feel about taking money from them to cover your debt? Instead of voting for Biden, perhaps you crusade against wasteful gov't spending to help reduce the cost of school and life, in general? If you did that, you most certainly wouldn't be voting democrat. Let's address the root cause and not the symptoms.
Fedloans charged future interest they didn’t take any payments above min due toward principal they are aweful people would sued but lawyers I consulted asked if was in default and wouldn’t help me. 😢
I agree. My girlfreind had 2 loans when she tried paying them off they paid one down and shifted the payment to keep one of them running with interest. Despicable.
Honestly college should be free or substantially lower. It just doesn’t make sense for it to cost as much as it does. The government easily writes checks for billions of dollars to send overseas but can eliminate all US debt?? No one talks about that though.
How do you feel about this latest announcement? Optimistic? Pessimistic? Meh?
I’m definitely pessimistic on this one. I would love the interest relief,but I’m doubtful. I borrowed 76k and have paid 98k thus far with 20k left due to interest. It’s sucks but it is what it is. I am happy for those who have received relief regardless.
I hope this is real. I really could use the forgiveness but it seems like I never fit into any of the past scenarios...
Pessimistic. Because it’s so broad, I don’t think it will work. However, eliminating interest through this plan and stopping accumulating interest through the SAVE plan would be extremely helpful. I’d still like to see an andministration address the cost of rising tuition.
Skepticism with equal optimism as well because my choices are very slim..
I am going to say Pessimistic. I would love to see the interest relief. I would be okay with that even if the SAVE Plan gets shut down. Interest Relief and continuing the IDR Plans. Can you discuss the Republicans FAIR Act as a counter? Thanks!
I think it's very unrealistic these plans will play out.
I got my email 🤷♂️I’m finally clear after so many years of struggling sheesh 🥹
They aren't intended to "pay out" no money is changing hands people are just having remaining interest dismissed. And if you're one of the millions looking at hundreds of thousands of dollars in debt after already paying back what you borrowed decades ago, it is a huge relief.
I’ll believe it when I see it. Still waiting for the IDR adjustment - keeps getting pushed back.
Exactly. Propaganda is laid on thick.
Same. One of my loans is over 20 years old and the other one is over 10 years and I'm under the SAVE plan or IDR but my loans are still not forgiven yet.
Two of my friends' loans have been forgiven completely mid last year so I know it's true but not sure what's going on with me.
There will never be widespread student loan forgiveness, you might get it here and there with PSLF or disability or death but that’s about it. This has been a scam to get votes from the beginning. Student loans make up 50% of the federal governments budget. It’s not gonna happen.
They seem to be all talk and no action for years...
Pay your dam loans like everyone else did !! Lazy losers pay your way ! OR forgive everyone’s loans,mortgages,car payments! Fair enough
Never have received a notice yet
Are u in a repayment Plan?
@@purodramaaaa yes I have always been on a payment plan since 1994 and have made a total of 407 payments
Can you explain once again why every time they change my loan to another company it seems like a consolidation. They just changed my loan from Nelnet to another company and my principle has change. it keeps changing with each switch.
Same
Exactly what they did to me also.
I don't know anyone that had their loans forgiven. There was an article stating this is benefiting wealthy ppl. We're is the data.
@@coraturner9383Where
@@coraturner9383it benefits no one, they are just bribing people for their votes with poisoned apples, what they don't tell you is that the IRS sees that as income and you will get slammed with a giant tax bill that needs to be paid that year or your stuck on their IRS payment plan with 27% interest and they will own you, you will end up paying more in taxes then you did the students loans you could pay off over 30 years. They got my wife that way too when she had her student loans forgiven for a disability after an accident left her paralyzed. DemocRATS only offer poisoned apples never fall for it. There is a reason I walked away from the denocRAT plantation, everything they do is to benefit their ultra rich doners and so they can own the people they see as pee ons. BLACK AMERICANS FOR TRUMP 2024!!
Its true!! I just received letter yesterday My student loans were Discharged and Forgiven!!! Jesus Thank you!!!!❤❤❤ i was on a driven repayment Plan for 5 years .
Yeh , now put that , gender studies degree to work , sike
Were your loans consolidated? Just curious!
SO DID HE BUY YOUR VOTE?
What steps did you take to get your loan forgiven
That some bs It ain’t our fault you got yourself in debt
I hate how Republicans in past years spend all of that money on those illegal wars. But, when it comes to something that could TRULY help the homeland, they want to use the word "illegal" for that and even have nerve enough to challenge it in court. That money that they threw away in wars was money meant to help us here in America!
You sure it was the Republicans? The Uniparty sure loves funding their foreign wars (Ukraine/Russia, Palestine/Israel) and feeding the Industrial Military Complex that lobbies Washington DC.
My dad has a PPL for 29k and has only made one payment. I (student) have 27k in federal loans (4 subsidized and 4 unsubsidized). None of these are consolidated yet. We plan to consolidate before the April 30th deadline but would appreciate any advice!
My dad is a public servicer worker that would qualify (for the Parent Plus Loan) Do we need to consolidate this which would make it a direct loan in order to enroll in one of the IDR options? Which option is best?
For my federal loans... is it best for me to consolidate them and enroll in SAVE program? How do people decide which student loan servicer is best?
Also - does anyone know if combining my federal loans with the Parent Plus loan can be beneficial or not in this situation?
I also pay 600 a month for private loans which I am assuming does not factor into any of this.
Any help would be appreciated!
Has anyone noticed that "Golden Emails" for IDR forgiveness have stopped? Something WEIRD is going on with Dept. of Education!
The feds said no you can’t do that. Nothing weird is happening. It was in the news a long time ago.
The rest of my student loan 25,000 was paid in full as of Saturday may 4th!
did you apply or did they do it automatically?
They did automatically
@@Greatful0374 they sent out an email months earlier to apply, Nelnet, after whatever happened with Bidens proposal it was wiped away.
@@BlinxGoBang How? When? What did you apply for ?
@@Greatful0374 honestly I didn't search for anything, it came to me, do you remember when Biden proposed the loan forgiveness, they shot it down, then he finally got it passed, well in the beginning of all that they sent out emails and you just applied then, look up student loan forgiveness, good luck.
I borrowed 20k after paying on it for years I owe 44K, how is that even okay. It needs to be fixed regardless of how the haters feel about it. I’d be happy with my payment being lowered and cut the interest.
Should pay your loan which you willingly took out. Hows it fair youre borrowing someones money and not paying it back? Grow up
College is a scam and things like loan forgiveness jsut gives them excuses to add more useless majors and raise costs NO ONE wins from loan forgiveness except the colleges it also encourages people who definitely shouldnt go to college to go and incur debt for something that doesn’t require a college degree
@@eightlights4939Who's money stop it!
@@eightlights4939if corporations can get bailed out, why can’t we do the same thing?
@@eightlights4939found the hater
I applied for the save plan and they sent me a statement increasing my payment amount , how is that possible.
Does this includes Parent Plus Loans, over ten years old.
I think it does but, if you have more then one Plus Loan you can do a double consolidation and that would change it to a Direct loan and you are sure to be eligible for these alleged forgiveness plans. I believe you have until 2025 to do the double consolidation, but APRIL 30th is the last day to consolidate for the IDR waiver.
No
What if you received the letter back in 2022 saying your loans were eligible, and was approved for forgiveness, but the lawsuit got in the way etc... what can I do?
At this point? Look at other forgiveness programs. That specific forgiveness wasn’t applied to your account. So you don’t lose anything other than a promise you’d get that forgiveness if the court’s approved it.
How do you know if they deducted or forgiven my loans
I attended the Art Institutes. So I guess we'll see. I've already enrolled on the Save plan just in case.
But student loans should never be reported on your credit report. Many people don’t know this
What are you smokin 😆
@@sweathawgboudreaux3887 I’m in the process of having mine removed. Please research it. I never gave permission for them to be reported to the credit bureau nor did I receive the disclosures advising me of such. …. Duhhhh
@tanyapeters5062 can you elaborate on?
@@dave2on730 they have to give you the instructions on how not have them report. I learned they never gave me the disclosures. Doesn’t mean they go away just mean by law they won’t appear on my credit report. You control what appears on it, Many don’t know this. Please look into and let me know what you find
nope. they are and your balances show as well for credit. i paid mine down THANK GOD!!! and my credit score is higher than ever in my life
If you apply for IDR plan now will you still qualify for forgiveness?nor has to already be on that plan? I'm currently not on one of those plans, I'm on extended graduated plan because monthly is way lower than IDR plan but I will switch if it means forgiveness
It True !! I just received notice on 5/4 stating that all my student loan debt has been charged off/paid in full and forgiven
BIG MISTAKE!!! The IRS sees that forgiveness as INCOME, now you will have to pay a giant tax bill and it's due that year and it probably put you into a higher tax bracket, and if you have to go on their payment plan it's 27% interest and you will pay more in taxes a lot sooner then if you had just payed your student loans over time!! EVERY APPLE THE DEMOCRATS GIVE YOU IS POISON!! NEVER BITE!! THEY ARE BRIBING YOU FOR VOTES BUT WITH DEMOCRATS YOU WILL ALWAYS Pay ONE WAY OR ANOTHER!! And the difference is that a bank may send you to collections, but the IRS will send you to prison if you don't pay, especially when it comes to income tax!! So start sveing massively now!! Put away ever cent you can scramble for and get ready to pay those taxes or your completely fucked along with anyone else that was on that student loan with you!! This is why I abandoned the democRat party!!
I took out loans back in 1996 for my undergraduate and around 2003 for my graduate degree and have consolidated my student loans many years ago and have two loan servicers. I have been on an IDR plan with both for oe many years, do i need to apply for the SAVE Plan?
You will still get the IDR waiver as long as your loans are either FFEL or Direct. The SAVE plan just helps if your income level qualifies you.
I have 2 FFEL loans. I consolidated them today. Basically, I've been lied to.
Great video, thank you for explaining! The biggest hurdle to this entire idea is we don't know when Congress will appove any of this.
This shouldn’t even be a thing in the first place. If You took out the loan,you should pay for it… This was a great video and I feel informed for when this comes up in conversation in the future. Thank you
Honestly, I get sick of these types of comments. It is quite heartless! There are people who may not have had the opportunity to secure their education had it not been for student loans. Mostly the greedy rich and their offsprings are able to go to school without having to secure a student. Greedy meaning those who built wealth off the backs of free slave labor. If I could start a business today using absolute free labor, I’d be rich within a year.
Please think deeper before writing this type of comment. Thank you.
@@archersunshine8890Thank you. I don’t know why these people are drawn to theses videos or are in the comments. We’ve borrowers have been through so much. It’s difficult and painful. Definitely not a game.
I pay off my student loans loan year 5 years ago. Can I still be qualified to get some reimbursement?
I was originally hopeful with the first round of loan forgiveness having 12 years of full time work experience working for 501(c)3’s. I was dismayed when I was told they’d only consider 6 of those 12 years. I’d like to be hopeful, but I’m very skeptical.
Can I have my mortgage forgiven? Medical bills? Car note?
Hater alert. No, you can’t have your mortgage or car note forgiven. Student loans are different than those types of loans…and some ask me how. Do your own research before even commenting. Thank you!
Sounds like you’re the hater. It’s just a question. No need to foam at the mouth. Your debt is paid via the American taxpayer. So a thank you will be appreciated. Yes? No? Anyway, have good day!
@@goodoljackburton9211 I'm not a hater. You will have to admit that those who paid off their loans, used their GI bill, worked through college, and sacrificed (like I did) may have something to say about this. Stop calling me a hater, Jack. It's so whiney and b!tchy. Go talk to Jeremiah Babe about this loan forgiveness ploy to secure voters.
Medical bills coukd bevwritten off by the hospital. Easy fix. Contact the hospital financial service dept for assistance.
you are forgiven. you just need to pay it back. :)
the government aint your sugar daddy
Do you recommend consolidation? Isn't that a requirement for the SAVE program?
Do I have to consolidate if I'm on the save plan?
My application has been sitting with the government for over two years. Followed up twice and they’re still in limbo
Okay i'm two weeks late, Today's the 27th. How do I get this done in the next three days? 🤔 I did this four years ago other people got alone and I did now I have a disability😢
If I didn’t apply for the Save plan, then I don’t qualify for any of it?
All these videos and im still not sure if I need to consolidate from Navient to the ED
Here’s our video breaking down whether you should consolidate for forgiveness: ua-cam.com/video/vYaTczj8kP0/v-deo.htmlsi=wHsIIbnRy-Ks3nrX
If you still have questions after that, you might want to book a 1:1 call or talk with the FSA or your servicer.
Optimistic for Loan Forgiveness thanks staying updated with your wise info.
It’s not free money. It’s taxpayer’s dollars. Even the forgiven students
I would rather see tax dollars go to help students than pay for another aircraft carrier that just sits in a warehouse.
Those that can't afford for themselves to go to college but they're paying for someone else to go or their kids it's not right nothing is free people grow up and become a man or willing to supposed to become on your own if you can't afford to go to college then I guess you don't go.
Rather it go to students, then billions sent to another country
@@Kiernanglynn20 I’m not sure that is such a good thing. Look what is happening on our most prestigious and oldest college campuses. Do you know that those old colleges where founded and supported by Christians for the most part of a century?
Hilarious take! Where were you when trump filed bankruptcy over and over again or when he blew up the deficit or when we forgave PPP loans? Capitalism for students and socialism for the wealthy? Shame on you!
I received an email that my student loan from Mohela will be assigned to another servicing platform. Do you know anything about this?
Hello Sir,
I have a question I borrowed 32,000 for my nursing and I remember received the letter in the past approved for forgiveness then court denies Biden’s plan. The question is my repayment only start in June, do I need to enroll in a repayment plan. Please advise, much appreciated.
Thomas don't do it! The IRSC student loan forgiveness as taxable income!! You will get a massive tax bill and it'll probably put you into a higher tax bracket, and if you have to go on the repayment plan for the IRS it's a 27 interest rate it's insane!! You will pay more in taxes than you would just paying off the student loan, government only offers poisoned apples, government doesn't produce so anything gives away it has to steal from somebody else! They got my wife like that who is disabled after an accident and she got the student loan forgiveness, they hit her with a $70,000 tax bill, in the interest rate is f****** insane!! Don't fall for the Democrats scam!!
I heard about up to $20k in interest being forgiven under the president’s new plan. I consolidated in 2022 and I’m still not sure if any of that consolidated interest will be forgiven. Curious to see how that will work out.
how do i go about student loan forgiveness? What are my steps! Please help
I was approved and it was all paid for
I’ve payed my student loan for 26 years under standard repayment plan. If I convert to an IDR plan would I be able to apply for immediate forgiveness?
You wouldn’t need to apply for forgiveness. Your file would be assessed for forgiveness credit so long as it’s owned by the education department. Switching to an IDR plan will let you keep getting credit toward forgiveness.9
I forgot to mention that my loans were consolidated to a private loan carrier and recently converted back to a government loan.
Including private schools?
I'm very optimistic!!!
Pessimistic about all of it because my repayment plan was changed without my permission. It should have ended repayments in 2019 but now I'm going to be forced to pay into 2030+ whenever. Now I'm lost because I don't know if I should consolidate through the one time adjustment or not.
They changed my plan without my permission as well. Then my remaining loans were forgiven. I was on the SAVE plan and they forgave the two unsubsidized loans then they switched me to the IDR plan and then they forgave the two subsidized loans.
Thank you for breaking this down. We need student loans canceled now!
So wait, I just consolidated my Navient loan back to the DoE but I didn’t select income driven, is that going to impact my loan forgiveness??
Don't fall for the scam don't get the student loan forgiveness!! The IRS sees the forgiveness is taxable income! And it's due that year and if you don't pay you end up on the repayment plan! And their interest rate is like 27%!! You will pay more in taxes than you would just paying off the student loan over time! Anything the Democrats give us poisoned!!
I would say I'm hopeful, but I also don't hold my breath regarding the government doing anything. The runaway interest has become a real problem. I tell people to just keep paying their loans as if the government isn't going to do anything because, most of the time, they don't.
Thank you so much for breaking down everything in layman's term! You are awesome!
Glad it was helpful!
I got my notice today I should see something after 5/3/24 can’t wait
From who? I’m looking in my email.
Congratulations!!! So happy for you. I’ve been shutting down the haters who don’t want to see this happen. God will take care of his people. For sure!
Does this mean I need to still consolidate my FFEL loans? I know we have until April 30th and am still feeling unsure of the best move. Probably need to book a consult with you...
Yes! It's my understanding that must consolidate your FFEL(P) loans into Direct Loans in order to even be considered for forgiveness. I submitted my consolidation application this week. You must do it before April 30th. Don't miss out.
I received letter from ED stating that I am eligible for student loan forgiveness. I was on Income Driven Repayment Plans, Economic Hardship plans, Forebearances since 1998. I consulidated my loans and now being told my accounts are closed and that I have a zero balance by several AidVantage representatives. I have not received a forgiveness letter or email. What should I do next?
Hi. There are so many info out there and it got me all confused. My current loan is under the SAVE plan with Nelnet. Do I need to transfer that to Direct Loan Program in order to get a loan waiver? Please help!
Your load must be either FFEL or Direct and if they are not, you must consolidate by APRIL 30th 2024. This month.
I have 2 FFLE loans that were on The Income Driven-Based program for almost 9 years. I called my student loan servicer. I spoke to three different representatives that said, I need to consolidate my loans by the deadline- April 30, 2024 by midnight, in order to get forgiveness. I The last rep' suggested the Save Plan. I consolidated based on the service's recommendation. Will I be eligible for forgiveness, or is this a trap?😮
@@dancerodieI never consolidated mine. I was on the SAVE plan. Then they forgave the two un subsidized loans. Then they switched me to the IDR plan. Then they forgave the two subsidized loans.
@@IAmHisBeloved5 So if your loans are now forgiven, I'm not sure what your point is now.
@@dancerodie you told them they must consolidate theirs. And I’m telling you that I never consolidated mine in order for them to be forgiven.
Your videos on this are super helpful b.c. it's a lot of info to unpack and understand, thanks for breaking it down.
From this video am I understanding correctly if I am currently in SAVE plan the ED will sort it our and hopefully forgive something!? I went to Financial AID site yesterday to see if I need to consolidate my 2- Direct Loans 1-subsidied and the 2-unsubsidized - I was confused. Both are at a FIXED interest of 4.8 % I believe - is consolidating both to one in my best interest?? I graduated in 2007 Thank for any addtl info.
You are awesome for helping us who are lost out here!!
I attended Brown Mackie in 2006 , they scammed many people and folks couldn’t use their degrees or certifications! I need to know how to relieve that debt from my credit
If the US Supreme Court ruled that this IS UNCONSTITUTIONAL and they cannot use taxpayers money where is the money coming from?
Does this applies to loans issued by states( private student loans) like Georgia Student Finance Commission? I'm in Georgia and I'm a little confused. Can you cover the difference between federal and state loans, and are they covered under the loan forgiveness program. I'm learning the hard way. I thought that all loans had been on hold, but I learned that wasn't the case.
How do I know if my student loans will qualify for his forgiveness plan??
They will send you an email if you qualify.
Feel like they have been talking about forgiveness for YEARS and nothing EVER happens unfortunately...
I love your presentation style. Thanks so much!
You are so welcome!
Im 32 now. I had to take my dad off life support in 2019. Then had to put my dog down. Then spent 14 days in the hospital for a spleenic infarction. Blood clot formed in my heart or passed through it. Mentally I couldn't figure out how to even begin to finish degree. My mind made me feel trapped in a tornado of what do I do. I now have his house. I'm on my own. Stopped taking blood thinners. Heart meds. Cholesterol, and high blood pressure meds. To expensive for me to hold onto everything. All my Dad worked for. Can anyone help? Is this hardship?
I feel really optmistic about it. Maybe because I just found out that my student loan was forgiven in May 24. I had a older student loan, so what I did was 1) aoolied for the IDR plan. which meant I paid 0. Then about 5 months after it was forgiven. But! Something did catch me off guard. It seemed that my servicer listed the loan forgiveness as a discharge /write-off. This type of entry can affect your credit score. So be aware.
Thank you for the break down! This was so helpful!!
Dude, it sucks that I missed school because my family was broke, but I still have to pay for someone else's education. If you sign a contract, you should pay it off. Debt doesn't work like that. Student loans should be treated like any other loan. You can file for bankruptcy and get rid of everything except a student loan.
Biden has been a terrible president.
We have bigger problems at hand, social security is more of a scam now than it ever has been. If we didn't pay into social security I'm willing to bet people would have significantly more money to pay for the contract they decided to sign.
What percentage of your tax dollars are going towards other people’s student loans?
What percentage of your tax dollars are funding wars?
What percentage of your tax dollars are going toward migrants?
Do you even know specifically where your tax dollars are going? Just another person making a comment without producing receipts.
You didn’t go to college because you didn’t want to go to college!
SCOTUS already has said it's unconstitutional. I don't get why that isn't the end of it. I'd like my loan forgiven too but we have to respect the rules.
They said the way the Education Department tried to do it through the HEROES Act was wrong. There are still other ways to do it. The president's exploring those options. It remains to be seen whether those will be considered unconstitutional.
@@stanleytate thank you for the information and the response! We will see what happens.
I will gladly accept Biden’s loan forgiveness program while still voting for Trump. If Americans reject this, believe me, foreign governments will be receiving it.
Can someone explain why after I consolidated, and made two full payments to Navient….Navient refunded both payments? I looked and I am in administrative forbearance. I have had my loans since 2003. Full time public servant for 8 years. Never had a default. Deferred for 5 years after having kids and had to stay home. Trying not to get my hopes up too high….
Are they still going to do the calculation adjustment in July of 2024?
This was a very well laid out video. Thank you for giving such an easy explanation!
You're very welcome!
So they can have a "judge" block it after November. They've had 4 years to do that.
As much as I despise Trump and everything he stands for, what I despise more, paying for someone’s post graduate degree when I can barely pay for my own child’s college in the future. Seriously going to have to vote against Biden just because of this.
Let me ask you this, what percentage of your taxes are going towards paying someone else’s student loans that were forgiven?
Do you even know the breakdown of how your tax dollars are spent, or are you like other uneducated folks making comments like this without knowing the facts?
Stop hating just to be hating!!!
@@archersunshine8890
So, as long as it’s not too much that’s coming all of our paychecks and the future paychecks of our kids we might as well buy you a car too. What else do you think we should buy you? Clearly, you’re educated enough to know that money doesn’t just come out of thin air? The fact that you would have this type of attitude instead of just saying thanks shows a lot about your character.
Read, Atlas Shrugged and you’ll realize you’re one of the moochers.
@@PC-ge4fw You still have not answered my question, but I get it, if you don’t just gaslight.
Why should you expect anyone to be forced to contribute even one cent to pay for your privilege to attend college. Your choice your debt. I have no idea how much comes out of my taxes personally but if it’s even one penny to pay for an ungrateful loafer like you, it’s one cent too much. ;)
I have to be hopeful. The interest on my student loans has grown them far beyond my ability to pay them off and the amount I owe only gets larger with each passing month. It's like I bought a Kia but I am being forced to pay for a Maserati.
Where is the "reform"?
Puzzlement. I don’t know what plan would apply to me. I’m not working after several successful jobs. I was ill for a time. Now I need to find a job but my age is working against me also. I really am confused as to what plan fits me.
Can people that have paid their loan's, get their money back?
I have student loans and im in deferment. I was considering the disability discharge. But otherwise I have little intrest in ever paying them off. Just keep defering till whenever.
On Sunday, 50K was just wiped away. Unbelievable.
This was a very helpful video! Great overview and clear information. I am hopeful that folks receive loan forgiveness. These loans are not what the well you.
Glad it was helpful!
Yes I hope Devry is on that list
Thank you very much for this informative video. Please keep them coming! Much appreciated!
Thanks, will do!
Its crazy that they didn't fight this hard when they were forgiven loans from banks and big corporations!
I'm one of the people saddled with runaway interest. My loans were under $50K but being that I graduated during a recession and the housing market crashing back then it was really hard to find the job like it is today. Please tell me how my student loans are $100,000. I just consolidated and now is saying my student loans will be $268,000 it took me an additional 30 years to pay. Like howwwww? 😮
Diddy, Jayz, members of congress took ppp loans, free money. But they fight working class over government back loans.
knob
how about the over 11 million a day NYC pays housing migrants? 1 city, how much from the others. IT'S OK WE HAVE TONS OF $!
Loan forgiveness doesn’t help anyone cause the money doesn’t come from the private sector college is an absolute scam basically unless you’re going into a STEM field there’s no such thing as free money someone pays somewhere down the line and what the colleges do is pass it down to the people
Did you sign without reading the loan terms? If so, why is it not your responsibility?
I've worked in public service for 15 years and even with the promise of public service loan forgveness with 10 years of working for low wages in public service under previous administrations...republican and democratic, I've not received forgiveness. So I don't believe this will happen for anyone, ever.
I have been wondering what move to make. My loan is so old. I put in a form in 202 no answer yet. They are saying I'm on way to default. scared to consolidate it adds all that interest to my small loan. will it do same if I do IDR? I have 3500 loan and 14000 interest. My school did make list don't know why they even were arrested.
We dont pay for loans unless we agreed to it.
Love your energy. Thanks for the video.
I don’t have any loans from undergrad but I am in grad school .. I graduate may 2025 but I’m curious how that would affect people like me . Will we be over looked since we aren’t in repayment yet ? I was planning on the civil service loan forgiveness 10 yrs after I graduate 🥴
Thank you Biden this makes life a little less stressful and that’s a good thing
I'm all 4 student loan forgiveness. 👍😉
Update ❗it's now fully forgiven to the tune of 51k,. "I just got the I know have $0 balance e email from Dept of Ed today. that I met criteria and it should be updated with my servicer by May,"
I got mine last week. Yup, it's happening. Keep the faith, consolidate and get on IDR.
Who is your servicer?
@@willconcepcion9859 Mohela
It’s helped me!!!!
I am optimistic realist. I am glad they are they are planning for forgiveness, and creating so many avenues to get it done. BUT it is always string attached, so we will see.
Thank you soooooo much!! Extremely clear information!! Blessings. I had over $200,000 in student loans. I received an email of forgiveness but doubt it because it looks like a scam 😂 I just couldn't believe. I did apply for consolidation. I graduated 1995 but paid some of the debt then had hardship taking care of my grandparents until they passed away. Praying the email was true 😂. Thanks again for all you do. New subscriber.
My understanding is I still dont qualify 😅 if I do I'm offended at him trying to buy my vote and even if i do get forgiveness i wont vote for him.
roll them out!
I feel they'll get you eventually. What are tax ramifications if the debt forgiveness goes through.
More than likely if one qualifies for forgiveness, they will be INSOLVENT from taxes.
You mean President Biden. 💙💙💙💙💙💙💙💙
Optimistic!
Mine was paid! Thank u Biden/Harris
I hope they help me because I can’t even buy a house until I pay them down
Great video and I am very optimistic, jumping on making sure my ducks are in a row! Biden has definitely earned my vote again for his efforts
The question is, for those who did pay their loans back, how do you feel about taking money from them to cover your debt? Instead of voting for Biden, perhaps you crusade against wasteful gov't spending to help reduce the cost of school and life, in general? If you did that, you most certainly wouldn't be voting democrat. Let's address the root cause and not the symptoms.
Thank you so much for this info! Does the low value program include institutions that lost their accreditation?
Fedloans charged future interest they didn’t take any payments above min due toward principal they are aweful people would sued but lawyers I consulted asked if was in default and wouldn’t help me. 😢
It’s going to be alright. God will take care of his people. Just have faith 🙏🏽
I agree. My girlfreind had 2 loans when she tried paying them off they paid one down and shifted the payment to keep one of them running with interest. Despicable.
I was in the wrong repayment plan all of these years. I should be done paying. The issues are systemic and on purpose.
Honestly college should be free or substantially lower. It just doesn’t make sense for it to cost as much as it does. The government easily writes checks for billions of dollars to send overseas but can eliminate all US debt?? No one talks about that though.
Why TCI College from New York not on the closed school list?