Student Loan Forgiveness: How to make it happen - Shared screen with speaker view
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I am envious!
I am too, Karla!
EEK! I feel overwhelmed.
And just to clarify, the PSLF program itself doesn't end on Oct. 31, but the opportunity to have payments that were previously ineligible count ends then.
If you're a part-time worker, you don't qualify for the waiver, correct?
Pamela - I think that is correct. I believe this only applies to FT employees.
Correct. Full-time employment for a qualifying employer is required, but the nature of your work/job does not matter.
When you say direct is that direct unsubsidized?
So if I currently have three Direct Loans they must be consolidated into one, yes? I have been doing the PLSF for 2 years, but I think they may only be being applied to one of my Direct Loans.
I don't believe that is the case. I actually had 9 separate loan lines, and one set was forgiven months after the others.
I got mine in one day!
the rich people getting richer off our misery
So all of my stuff is already listed on MOHELA. Is that good?
If mailing the form, send certified mail.
Nick, that sounds positive to me.
Are you already consolidated into Direct loans and a IDR plan?
I think so. I have one amount and it all lives at MOHELA.
I just went to their website, and they have a big advertisement for this program.
Though it’s probably not 10-year or income-based. My current repayment plan says “Graduated.”
Ok, you’ll need to change that.
Graduated, as far as I know, is not one of the qualifying plans
Okay. Thank you.
I have consolidated loans and can make the monthly payment, never missed a payment, except the COVID waiver, so do I have to do the IDR thing. That seems like an extra step
Nick - That is one that isn't eligible under the standard rules, but the waiver will still give you credit for those payments.
Sounds good. Thank you.
It sounds like you will need to go into an IDR plan regardless. If your loans are already consolidated into Direct Loans, the change of IDR is very straightforward
Yes. Once Oct 22 passes, any future payments will need to be on a qualifying plan in order to count.
I seriously want to cry with happiness hearing this.
Happy tears are ok! This is great news!
Mine too a month via snail mail.
There is an attorney that walks people through this process. He recommends MOHELA. I'm thinking about using him to make sure there are no slip ups. I tried this way back in 2017 and was denied because I had qualified for everything except the specific William D. Ford Direct Loan. Still do not trust the process. I'm using the attorney.
Getting a professional to help certainly can't hurt!
I just filled it out in 10 mins
Once you are in, how often do you have your employment certified?
You will need to get employment verified by payroll (Robert Crane) in order to complete the form and then submit
The website suggests updating your employment annually
I certified yearly when I did my taxes. That isn't necessary, but it was nice to have things updated yearly.
Payments don't count toward PSLF until the employment is officially verified.
Thank you everyone. Off to class.
Can you go back to the 3 steps slide?
I have to bounce, but this has been helpful and encouraging. Thank you!
Thank you to all the presenters. This has been very helpful and motivating. It’s weird to look forward to doing all of this paperwork! Have a great day.
Thank you for the information- appreciate that you are going to send slides as well.
Ok, thanks for the info. I have to "run" to my next Zoom.
Great information and a bit of reassurance. thank you
Thank you EVERYONE!!!!!!! Irene, you are awesome!!!
Thanks everyone...this was great!!
Thanks so much!
Thank you all!
Thank you so much for this information!
Why do you think you got a refund on overpayment, TJ?
Irene's thought was that I was eligible for refunds because I have been paying on the right plan and loan type for several years.
He was in the correct servicer, repayment plans, and in psfl for his overage
The waiver got me credit for very old payments that were not "correct", which made my recent "correct" payments overpayments