Student Loan Payments Paused July 1-31 | Income Driven Repayment Plans

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  • Опубліковано 7 лип 2024
  • Why millions of borrowers won’t have to make a payment in July. Are your student loan payments paused?
    0:00 Introduction
    0:10 No student loan payments: Who qualifies
    0:29 Why is this happening
    1:31 Student loan lawsuits
    2:00 Good student loan news
    2:15 SAVE Plan in peril
    2:50 Administrative forbearance
    📩 Get the brand new IDR calculator that minimizes your student loan payments so you can use the money on better stuff:
    www.studentloanplanner.com/yo...
    #StudentLoans #SAVEplan #IncomeDrivenRepayment #StudentLoanPlanner

КОМЕНТАРІ • 22

  • @StudentLoanPlanner
    @StudentLoanPlanner  24 дні тому +3

    On a separate note…160,000 Borrowers Just Got Their Loans Forgiven: Could You Be Next? www.studentloanplanner.com/student-loan-forgiveness-idr-save-pslf-idr-adjustment/

  • @SmecaWash
    @SmecaWash 24 дні тому +4

    Not surprised and honestly they may extend this pause until September due to the IDR count that needs to happen as well… They should have never extended the deadline and like you said with so many new consolidated loans you have to recalculate it minus all the interest that accrued before the consolidation

  • @sunday20
    @sunday20 24 дні тому +7

    I wished my loan was never transferred to Mohela. I was with edFinancial and never had problems with them. Mohela is the WORST. I don't know if I'm with SAVE, IDR, PSLF, deferment, forbearance etc...

    • @NL-hb8rz
      @NL-hb8rz 21 день тому

      Same. Mohela and have no clue which plan is for me for repayment. The Hold time is relentless when you call. After being automated many times. Still end up being disconnected. They are the WORSE.

    • @JessicaOC78
      @JessicaOC78 18 днів тому

      I haven't been with Mohela for very long, but I haven't had any issues and have experienced great customer service. I liked the transparency of their PSLF tracker and hope it comes back to the new site. The repayment type usually shows near your upcoming payment information.
      Trust me, I will take them a thousand times over Nelnet. I had non stop issues and errors with them. I even had a rep tell me to "get the man of the house on the phone so I can explain this to him since it may be too complicated for you" when I called to get information about something on MY loan! He was definitely barking up the wrong tree because I'm the one who deals with all the finances and student loan things in the house. 🙃

  • @redhotmoon1656
    @redhotmoon1656 24 дні тому +3

    I just got notified that my feorbearance is ending in 20 days, and I'm on the SAVE plan. It's been saying that my forbearance was ending in 2039. It's so confusing/frustrating

  • @ireneolsen9037
    @ireneolsen9037 22 дні тому +3

    I am on autopay, should I stop that or they will just take care of it on their end and skip July? I am in SAVE.

  • @JessicaOC78
    @JessicaOC78 18 днів тому +1

    I had so much trouble with getting the IDR payments correct when my husband and I were under Nelnet, it was beyond frustrating. With the Mohela transition and SAVE, we finally got that squared away and were making payments each month. Now we have been split between two different loan servicers, and I'm afraid our combined income and student loan debt are not going to be considered anymore and we will run into issues with our total payments again.
    Are those IDR payment going to be calculated through the DOE still or with the servicers individuallly?

  • @shannonshaffer7197
    @shannonshaffer7197 24 дні тому +3

    Will ibr applications still be processed during this time?

  • @TA-lb9ew
    @TA-lb9ew 20 днів тому

    What success rate do people filing an Adversary Proceeding in BK court are apptoved?

  • @anitabrown3286
    @anitabrown3286 День тому

    The injunction was struck down so now what?

  • @kckanu8457
    @kckanu8457 21 день тому

    Please as far as you know does the double consolation process work? If so, do you have any person to suggest I work with? Thanks KC

  • @TA-lb9ew
    @TA-lb9ew 20 днів тому

    Will Save Plan be extended to September?

  • @Minecraftgamers567
    @Minecraftgamers567 24 дні тому +1

    How can I find information about the new regulations for the SAVE plan that you said will be implemented in July? Also what resources would you recommend to stay up to date with the legal information and court hearings regarding this topic? Thank you!
    Best

    • @sagapoetic8990
      @sagapoetic8990 23 дні тому

      There should be regulations being followed -- what is shocking is the lenders/processors are defying the government and calling the shots. This is just wrong and this administration needs to buck up and take a stand, not cave. We have to vote and call our officials and demand they and these private contractors, which is what Nelnet, Mohela etc are, follow the government guidelines. The voter, not the banks, are supposed to call the shots.

  • @tiffanysteen1845
    @tiffanysteen1845 24 дні тому +1

    Can I make a payment anyway loans are scam thru make it digitally in secs I spend a life time paying it off due to fractional reserve banking. I’d saved is block I need apply diff IDR plan. I hate this I wish I had paid off in full at 0% in COVID we paid 44k off already during COVID I wish I applied 24k I had saved last July but we had that for 6 month emergency fund lived off it when I retired

  • @melk.175
    @melk.175 24 дні тому +1

    I thought 8 states were shot down when they fought it?

    • @SmecaWash
      @SmecaWash 24 дні тому +1

      These are new lawsuits separate from the previous Supreme Court ruling

  • @chugroot
    @chugroot 10 днів тому

    But let's not worry about the billions going oversees or to illegals