Zoom Logo

Student Loan Forgiveness: How to make it happen - Shared screen with speaker view
Karla Short
19:58
I am envious!
Lydia Gilmore
20:25
I am too, Karla!
Lydia Gilmore
23:08
EEK! I feel overwhelmed.
TJ Duda
23:14
IKR!
Lucas Gorz
25:28
👏
TJ Duda
33:07
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.
Pamela Wilson
34:22
If you're a part-time worker, you don't qualify for the waiver, correct?
Lucas Gorz
34:29
Thank you!
TJ Duda
35:15
Pamela - I think that is correct. I believe this only applies to FT employees.
TJ Duda
35:44
https://studentaid.gov/help-center/answers/article/what-is-considered-full-time-employment-for-pslf
Adam Keller
35:58
Correct. Full-time employment for a qualifying employer is required, but the nature of your work/job does not matter.
Pamela Wilson
36:11
Ty.
Edna Mcquesten
40:49
When you say direct is that direct unsubsidized?
William Driscoll
41:37
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.
TJ Duda
42:54
I don't believe that is the case. I actually had 9 separate loan lines, and one set was forgiven months after the others.
Heather Johnston
43:28
I got mine in one day!
TJ Duda
43:35
Nice!
John Gregory
45:47
the rich people getting richer off our misery
Nick Lakostik
46:08
So all of my stuff is already listed on MOHELA. Is that good?
Mary Reiter
46:54
If mailing the form, send certified mail.
Irene Petten
49:57
Nick, that sounds positive to me.
Irene Petten
50:29
Are you already consolidated into Direct loans and a IDR plan?
Nick Lakostik
51:26
I think so. I have one amount and it all lives at MOHELA.
Nick Lakostik
51:43
I just went to their website, and they have a big advertisement for this program.
Irene Petten
51:50
Excellent
Nick Lakostik
53:08
Though it’s probably not 10-year or income-based. My current repayment plan says “Graduated.”
Irene Petten
53:29
Ok, you’ll need to change that.
Irene Petten
53:49
Graduated, as far as I know, is not one of the qualifying plans
Nick Lakostik
54:07
Okay. Thank you.
John Gregory
54:22
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
TJ Duda
54:35
Nick - That is one that isn't eligible under the standard rules, but the waiver will still give you credit for those payments.
Irene Petten
54:55
Correct.
Nick Lakostik
55:49
Sounds good. Thank you.
Irene Petten
56:14
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
TJ Duda
56:58
Yes. Once Oct 22 passes, any future payments will need to be on a qualifying plan in order to count.
TJ Duda
57:18
YAY!!!!
Adam Keller
57:25
goosebumps lol
Heather Johnston
57:44
I seriously want to cry with happiness hearing this.
Irene Petten
57:59
Happy tears are ok! This is great news!
Mary Reiter
59:12
Mine too a month via snail mail.
Tim Davis
59:24
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.
TJ Duda
01:00:11
Getting a professional to help certainly can't hurt!
John Gregory
01:00:23
I just filled it out in 10 mins
Adam Keller
01:00:24
https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service/public-service-loan-forgiveness-application
William Driscoll
01:00:59
Once you are in, how often do you have your employment certified?
Adam Keller
01:01:01
You will need to get employment verified by payroll (Robert Crane) in order to complete the form and then submit
Adam Keller
01:01:17
The website suggests updating your employment annually
TJ Duda
01:01:33
I certified yearly when I did my taxes. That isn't necessary, but it was nice to have things updated yearly.
TJ Duda
01:01:55
Payments don't count toward PSLF until the employment is officially verified.
William Driscoll
01:02:33
Thank you everyone. Off to class.
Lydia Gilmore
01:06:23
Can you go back to the 3 steps slide?
Zachary Dilbeck
01:07:25
I have to bounce, but this has been helpful and encouraging. Thank you!
Nick Lakostik
01:09:14
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.
Karla Short
01:12:08
Thank you for the information- appreciate that you are going to send slides as well.
John Gregory
01:12:34
Ok, thanks for the info. I have to "run" to my next Zoom.
Matthew Brent-Manderick
01:13:11
Great information and a bit of reassurance. thank you
Lydia Gilmore
01:14:00
Thank you EVERYONE!!!!!!! Irene, you are awesome!!!
LaSalle Jackson
01:14:11
Thanks everyone...this was great!!
Andrew Friend
01:14:13
Thanks so much!
Lucas Gorz
01:14:15
Thank you all!
Carneshia Archie
01:14:25
Thank you so much for this information!
Barry Young
01:14:43
thank you
Heather Johnston
01:14:44
Why do you think you got a refund on overpayment, TJ?
TJ Duda
01:15:24
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.
Irene Petten
01:15:26
He was in the correct servicer, repayment plans, and in psfl for his overage
TJ Duda
01:16:13
The waiver got me credit for very old payments that were not "correct", which made my recent "correct" payments overpayments