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Thanks! I think it’s a great hack to increase your credit score without risking taking on credit card debt. Thanks for watching! -k

Thanks! 😊 I hope more high school and college age students find these vids too. Thanks for watching! -k

Hi! As long as you got the consolidation in on time you should be good to go!! Thanks for watching and good luck - k

@@themoneylibrarian according to the MPN that I signed to consolidate my old loans directly with the dept of education to get on the SAVE plan clearly states that my prior payments would not count towards loan forgiveness. Both nelnet and the dept told me not to worry and that I would still get the one time account adjustment and be on my way to loan forgiveness. Unfortunately, I do not think i will get that golden email before trump gets into office. Even if I get on the ICR/IBR?IDR plan I fear that my 20 year would start all over.

Hi! As PSLF was made by an act of congress in 2007 it would be very hard for it to go anywhere. You were smart to consolidate in April as your payments on the FFEL loans should all be qualifying. I believe they are processing applications but it can take a while - seems like you just wait now! I don’t want to make any predictions for the new regime since who knows what the future holds? Congrats on being so close to finishing your payments! Thanks for watching - k

Hello! Glad I could be of help! I can’t give advice for individual situations (sorry!) but I do have a couple suggestions- You may want to consider consolidation to make handling these easier but that can have a lot of knock-on effects so be sure to read this page and talk to your loan servicer to find out precisely what effect this will have on your loans. studentaid.gov/manage-loans/consolidation I suggest going to the PSLF help group in Facebook as they have a TON of guides to help. facebook.com/groups/pslfprogramsupport/ Hope this helps, good luck and thanks for watching!! -k

Hi! Wow, I don’t think I do have one on this exact topic - how can that be!?! 🤯 It’s on my to do list! In the mean time, here’s a vid from one of my favorite financial channels (The Financial Diet) that may help her out: ruclips.net/video/sighDv4QqxY/видео.htmlsi=yfQXOHtmuezekph3 Thanks for watching! -k

Hi! This isnt unusual. Interest rates can change yearly and depend on the type of loan you have. If you want one rate you can consolidate them but that can have other effects on your loans. Here’s more info: studentaid.gov/manage-loans/consolidation Thanks for watching! -k

Hi! There are many types of forgiveness, it is too late to get this type of consolidation where they take the longest of your payments and apply it to the new loan. When you consolidate now they will do a weighted average to determine how many months you have in repayment. Thanks for watching! -k

Hi! You can post questions here and I’d be happy to respond. Otherwise I suggest calling your servicer and speaking with them. I do offer meetings but those are not free not do I have access to your loan history so I can’t guarantee what we discuss is applicable to your situation, thus I recommend you go these free routes first. If you’d really like to chat with me, please shoot me an email - address in the “about” section of my channel. Thanks for watching and good luck! -k

Hi! Yes, you can make extra payments to any of the student loan plans BUT if you want the payment applied to the principal (to save on interest and time) you need to contact your loan servicer and tell them how to apply the extra money. If you don’t they’ll apply the extra to future payments, not to the principal. Here’s a vid breakdown of ways to pay down student loans and why you may not want to - I strongly suggest you watch so you can do what’s best for your entire financial picture: 3 Simple Ways to Save on Student Loan Interest (But Should You Pay Them Early?) ruclips.net/video/cWGkU3fQBj0/видео.html Thanks for watching! -k

grady well indeed.

Hello! If you consolidate now they'll do a weighted average to figure out how many qualifying months you have - so, no, it probably won't equal 120 but it'll rather be somewhere between 1 - 99. Thing is, to get PSLF you have to be on an income driven plan, so no matter what your loan amount is, you'll always be paying the same amount of money as your payment is based on family size and income, not loan amount. Thus, for most people, consolidating is still a great idea because even though you'll lose months towards PSLF on your old loans, you'll gain months on the new loans - meaning ALL your loans will be forgiven much sooner. **Since I don't know the specifics of your situation I cannot guarantee this is how it'll work with you, please confirm this with a rep from your student loan company before making any moves** Hope this helps, thanks for watching, and good luck! -k

Should I consolidate the remaining ones? and will they combine the payments made?

Hi! For the majority of people it is best to consolidate, I really can’t give you particular advice as I don’t have access to your entire financial history. They will combine your previous payments using a weighted average. I recommend calling your servicer and asking them what your payment history would be if you consolidated. Good luck and thanks for watching! -k

😡😡😡 I'm so sorry this happened to you! Also, not shocked that an organization which was proven, in court, to have had such shady practices didn't manage to get your check to you. I HAVE GOOD NEWS: They are in hot water again and the CFPB <3 is going to be sending checks out to student loan borrowers who qualify. Here's the official page: www.consumerfinance.gov/about-us/newsroom/cfpb-bans-navient-from-federal-student-loan-servicing-and-orders-the-company-to-pay-120-million-for-wide-ranging-student-lending-failures/ Here's an unofficial and much easier to read breakdown: www.tateesq.com/learn/do-i-qualify-for-the-navient-lawsuit-settlement - if you don't qualify for this, I'd GREATLY ENCOURAGE YOU TO PUT IN A COMPLAINT WITH THE CFPB: www.consumerfinance.gov/complaint/ Good luck and let me know if/when you get that check! -k

Hi - agreed! Bad bosses who just use you aren't worth any more of your time or effort than what you're contractually obligated to give them. Definitely time to get another job. If, however, you have a good boss (no, really they exist!) who would go to bat for you when you need them and promote you when the time comes, you want to stand out and be in their good graces. Thanks for watching! -k

Hello - when he's 22 and no longer living at home, from the sounds of it he's no longer a dependent and he's now independent so he'd be filling out the FAFSA for just himself unless he had children/dependents now. Here's an article that you may find helpful: www.usatoday.com/money/blueprint/student-loans/how-the-fafsa-differs-for-grad-school/ And another with a bunch of useful stuff about FAFSA and grad school: studentaid.gov/resources/prepare-for-college/checklists/grad-school?sk=GGL-Brand Best of luck in grad school and thanks for watching! -k

Hello - if you don't get to qualifying 120 payments when you retire then no - but if you plan on working for a non-profit or gov for more than 30 hours a week (which lots of people do after they "retire") those months will still count. Good luck and thanks for watching! -k

@@themoneylibrarian when I retire I will be caring for my mom which can be a full time job but I never want to see her in a retirement facility.

@@themoneylibrarian thank you for replying

Sounds like you're a very good son - best of luck with her and your loans!

oh yeah it hurts seeing 1/4 of your payment go to interest, and this isn't even a bad interest rate when you compare with high interest debt. Thanks for watching! -k

@@themoneylibrarian a shot in the dark but perhaps you have heard something like this. My daughter enrolled in a cosmetology school and she qualified for a student loan and she went for it after high school. The owners went through a divorce and the husband got the school. Shortly after that he was closing the building and the school was closed. My daughter had to find another school in our area but it was going to cost more for her to attend. She asked me to help her and I did but I’ve read online that if the school closes you could have your loan forgiving. I spoke to-loan services about this and they said it does not apply to parents plus? It’s just a Hail Mary?

Hi - It sounds like you helped her for the loans on the school she ended up going to after the other school closed, in which case those loans would not be eligible. But if you helped her for the school that did close you could be eligible: studentaid.gov/help-center/answers/article/can-plus-loan-be-discharged I'd try calling the loan servicer again or the Dept of Ed. It is not unusual for them to get confused about all the rules. Good luck!!! - k

Hi! The starting scenario is no savings and lots of debt, so that wasn't an option for her. If that is an option for others reading this, it's not a bad way to go! Thanks for watching! -k

Thanks for watching! Let me know what topics you’d like to see vids on!! -k

I’d personally love a breakdown of the current updates since the government is doing things with the SAVE plan. (Can we still apply. What happened to the folks on it. Etc..) Also details on the Tax bomb that hits once your loans are finally forgiven on the SAVE plan

These are great ideas - I think a lot of people would like to know more on each. Thank you for letting me know, I’ll pop them on my list of videos ideas!! Thanks again! -k

Hello - yes, Grad PLUS loans are eligible for the IDR plans. You can see what your payments would be on each of the plans if you log into studentaid.gov Thanks for watching! -k

@@themoneylibrarian thank you

Hello! I don’t see why not but Id give the website a couple days to see if whatever glitch is causing the online application not to work gets fixed. Thanks for watching and good luck! -k

Hi! This is a common question- there’s no way to transfer the loan to you and keep it as a PPL. Thanks for watching and good luck! -k

Hi! If you’re going for PSLF it doesn’t make sense to pay any more than you have to since whatever your balance is at the end of 10 years is forgiven. That said, if life gets lifey, and you end up leaving qualifying employment, you could be on the hook for owing much more. I recommend watching this video on what to do NOW if you’re going for PSLF later: ruclips.net/video/gGX7WOwjMjo/видео.htmlsi=nfYJNk4mn7G1on4J Good luck and thanks for watching! -k

Hi! Glad it was helpful for you, thanks for watching! -k

Thanks and thanks for watching!! -k

Hi! The interest she paid on her credit cards was included in all the calculations. Thanks for watching!

Hi! It doesn’t sound like you would have benefitted from consolidation. I think your first step is to fill out the PSLF form and submit it ( studentaid.gov/pslf/ ) - processing is on pause right now but they’ll get to it once it’s back on. Good luck and thanks for watching! -k

Thanks for watching!

Thanks for watching!

Hi! If you found this helpful, you may also like my vid on tricks to make saving easier as those are pretty much ADHD hacks I built into my own life. 🥰 ruclips.net/video/MxVPrfEihWQ/видео.htmlsi=kZA1sTm-GdUcM8FV Thanks for watching! -k

Thanks for watching!

Hi! Ugh!! Just like any phone customer service org, sometimes you get a great person…sometimes you get a useless one☹️ You may want to call again and speak with someone else or call your loan servicer and hope you get someone useful! Thanks for watching and good luck! -k

That’s great to hear! My fingers are crossed the process is fast for you. Thanks for watching!!-k

Hi! You 💯 got this!! I know it sounds confusing but once you wrap your head around it, it’s fairly simple. Check the links in the video notes for other explanations and how to’s. Your plan to consolidate the 3 together and then the other 4 sounds solid to me - then you’ll be left with two loans that you do the second consolidation with. Good luck, thanks for watching, and please share with friends who may be in the same boat! -k

Hello - yes, you have to meet all the qualifications for 120 months. Thanks for watching! -k

Hi! Sorry to hear this! I suggest calling your student loan company to learn your options. They may have suggestions based on your history and situation. Thanks for watching and good luck! -k

Hi! You have to work for any qualifying organization or organizations for 120 months. Thanks for watching! -k

Hi! If you are on SAVE your loans will be put into forbearance and no interest will accrue during this time (not sure if it’s gov paid or just not accruing). Citation: www.washingtonpost.com/education/2024/07/18/biden-student-loan-repayment-plan-blocked/ Meanwhile, whether SAVE survives is purely political, so if you want it to be around, I’d say take action like you would for any other law that would affect you. Thanks for watching! -k

Hi! I recommend calling NelNet and talking to one of their representatives, be sure to take notes on everything they say, who you are speaking with etc. Let them know your situation and that you plan on going for PSLF and want to get on the lowest monthly payment that qualifies for PSLF (it’ll probably be SAVE - make sure you are on an IDR plan) Seems very strange you’re getting one quote from one site and another from another site!😕 I also STRONGLY recommend sending in a PSLF application yearly to get your payments qualified and this will let you know if you meet all the qualifications or if you need to make some adjustments. Good luck and let me know how it goes! -k

@@themoneylibrarian thanks, so we came arose the fact that our loans were not consolidated, today we submitted the application for consolidation based on SAVE plan from iadvantage-which ultimately will go through Mohela, and is there anything we need to do?

Hi! You can’t do much until the consolidation is through. Once that’s complete, make your payments and then send in your PSLF form every year. Good luck and thanks for watching! -k

Hi - congrats on the new degree!! If you work for a public school or non-profit, you can have your loans forgiven in 10 years via PSLF (see my vid here for more details ruclips.net/video/XrJ0D_uIn-I/видео.html ) If you don’t qualify for PSLF and want to get rid of your loans as soon as possible, I’d get on an IDR plan (prob SAVE) but pay what you would on the 10 year (or more) every month - and be sure to specify that you want the overpayment put towards the principal not your next payment. The reason for this is in case something happens where money gets tight, you have the option to pay less but you’ll still be paying off your loans super fast. If you do PSLF, do not overpay! Whatever your balance is at the end of 10 years will get forgiven so there is no reason to try to pay it down. Good luck in your new career and thanks for watching! -k

Hi - yes, too many students graduate with very burdensome debt. This is one of the reasons why the new SAVE plan is so helpful for many Thanks for watching! -k

Hi! This would be great! I did a quick search and didn’t see another extension, can you provide a link? Thanks and thanks for watching! -k

Thanks for watching!

Thanks for the input and thanks for watching!

Thanks and thanks for watching!

Hi! Yes, he does do a lot of good for people, my issue is that personal finance is just that - personal. What is great advice for one situation is bad advice for another. Thanks for watching!

@@themoneylibrarian I would be curious to know what advice of Dave Ramsey's you feel is "bad advice" I mean, you could call anyone's advice bad for some reason right? but does that really make it bad advice functionally or truthfully bad? i dont think so. .

Thanks for watching!

Thanks for watching!