Thank you so much for this information! I would not have known I need to consolidate my loans so this could happen for me and give me some relief! So appreciate you sharing your knowledge.
Great information. From your description it would seem my Navient loan should be forgiven but I’ve been billed again after almost a year of no contact from them. I call them and they give me the run around. It’s so horrible that this system is set up to be so confusing and we make mistakes agreeing to offered deferments- for example - that later impact that 120 payment clock. And it’s a complete lie that lenders don’t look at student loans negatively, they do. I’ve been turned down for mortgages for high debt to income ratios and this is my ONLY debt. I see why people get so hopeless. Thank you for trying to help.
Bless You!!! Thank you so much for this thorough explanation! I have been trying to figure all of this out for a LONG time and now I know EXACTLY what I need to do. Thank you, thank you, thank you!!!
Navient never put me in income contingent or income driven once it was available. I was in forbearance off and on for years due to major family issues that would not allow me to work off and on throughout my life. State tax is demanding tax on 100% of the total balance which was blown up by Navient by their wrong doing for which they were sued. Why are thousands in 4 states paying tax on this???
I've been trying to understand FFEL loans under Navient for the past week, and this is the first resource I've come across that makes it at all understandable. Thank you!
Wow. It's been as if the fog I have been wandering in circles in, surrounding the quagmire of information related to this issue for a long while has lifted; this is the first thing that has made sense to me. This presentation was easy to understand from the first sentence, and the presenter put me immediately at ease, and enabled me to do that. I FINALLY GET IT. Many kudos and sincere thanks.
So what I am hearing is that if you never paid on your loan you get it wiped out but if you paid monthly for 20 years and it’s still not wiped out. I am so annoyed right now I have been for over 20 years I work for non profits for 9 years one year the company was bought by a for profit company so I am disquailfied. I was sent an email saying my loans were forgiven but just now I am getting harassed by Navient again. I borrowed 10,000 dollars over 20 years ago payed a lump sum of 6,000 at once because that’s what was left I still owe 8,000 wtf.
So if we still have a FFEL federal loan through Navient we have to contact department of Education? No one has ever contacted me. This seems absurd the older loans used as a trap are not forgiven.
my daughter has had her student loans forgiven by Navient under PSFL ruling but Navient has made me , her father and cosigner of her original federal loans, responsible for the entire debt . I cosigned with the understanding to pay only if she was unable to pay . Navient has made negative delinquent reports to credit bureaus and reduced my score 100 points . My daughter debt is not forgiven if she obligates herself to pay the debt that she doesn't want me to pay ! HELP , are we obligated to pay the debt that is already forgiven ????
Has anyone received a letter from Navient saying their PRIVATE LOANS have been canceled? I got the post card about the FEDERAL LOAN restitution and I received the payment for that, but I’ve received nothing about my PRIVATE LOANS and after reading all of the qualifications for PRIVATE LOAN cancellation, I definitely qualify.
I received an email from Navient on 7/8 saying they are processing my loans to be discharge and I don’t have to do anything, as my loans are in a mandatory forbearance by ED during the process. They will update me if anything, still waiting
I received some months ago notification from Navient that my loans qualify for forgiveness, but need to consolidate them into federal direct loans. They are FFEL loans. So I got together all the information needed and beginning to fill up the forms for consolidation.
Navient put my account default even though I was making payment through my payroll they closed my account I haven't they transferred my account to accendium and they want full amount in order to release me from the bondage
Do you know if the postcard just notifies of the forgiveness but we don’t have to do anything? I’ve been traveling for some months and have not been back to my mail box. I don’t want to miss the postcard or it her lost. It’s just a notification?
I didn’t get a loan from Navi ent, I was under Sallie Mac and I didn’t take out a loan, I guess they went out of business. Still fighting to to who took a student loan out on me. I took a $5000 dollars loan when up to $40,000.
Thanks a lot for the well explained process and information. It's a shame that with all the taxes we pay, our nation is like a third world where we have to pay extremely expensive education and just as bad with health care. I do not call that we should get free education and free health care. Paying high taxes, nothing we get from our government system/programs is free. We pay very dearly for it with our excessive taxes. The government spends our taxes in excess, not forgetting the public servants salaries and gifting in abundance to other nations in war. We end up paying for all that absurd spending when our taxes should be spent in education and health care.
I was told my Navient that I was going to be forgiven after 10 years. I was steered into all the forbearance and then finally I was able to get into the IBR plan. I am 68 years old, still working and want my loans forgiven. What do you recommend I do? My loans were consolidated before I was put into the IBR plan. Why is all this so hard. I have no clue what to do. Am I going to pay till I die?
I was told forbearance doesn't count towards paymentes but IBR does even if the payments are $0. Were you in forbearance most of the time before switching to IBR? Its HARD to get approved but depending on your circumstances sometimes they have hardship forgiveness if the cost to pay them would cause hardship but that's usually under bankruptcy. Your loan is supposed to be forgive after 25 years though unless you consolidated or refinanced the loan though, then it resets the payment clock. So say you only have 5 years left to pay and some slick rep talks you into consolidating for a cheaper plan, it'd start all over again for 25 or 30 years depending on the terms. Log onto your account and see if you can find the term of your loan and then you'll know the best way to proceed. Also if you ever worked a public service job at any point after your loan, the time served counts towards it if I'm not mistaken.
I think it's time to look for professional help like a lawyer. Someone who specializes in this. I was completely stuck and there are things they know that we just don't unfortunately that's how it's designed. You'd be surprised how many lawyers go through these same processes with their long educations!!! Some have soft spots
Thanks! Yesterday, I found out my loans with Navient were FFEL and so I consolidated those loans with my federal loans that are with MOHELA. Plus, I'll be able to apply the student loan forgiveness to the new amount.
Navient just raised the interest on my private GradExcel loan by 2.25% immediately and AS SOON AS Biden announced the student loan forgiveness. I feel this is Navient’s way to make extra money because they will be losing the servicing of the forgiven loans under Biden’s plan. I was also not notified! I noticed the monthly payment increase. Their actions once again are unconscionable and likely usury.
They sent me a letter that I no longer qualified for the “discounted” interest rate because I sent my payment late 🤦🏽♀️… it’s robbery without a gun, someone has to stop this extortion
Does the borrower's federal FFEL loan serviced by Navient need to be consolidated to be eligible for the IDR adjustment for qualifying periods of forbearance/deferment?
I think i need a lawyer this is alot of information and i dont know where my situation falls. I paid off my loan 3/14/2020. Now this... i want my $ back. And I had income based forberance/deferment... whatever its called.
so my husband and I consolidated our loans back in 1996 before we started making payments. I believe they are fed loans serviced by Navient That being said we are still paying on them 25 years later....but from your video it sounds like we have no options to get anything forgiven because of spousal consolidation? the amount of money we have paid is remarkable. The original combined principal was about 35k. We have never defaulted, and deferred twice for a total of 18 months in that 25 years. Various payment plans over the years based on affordability, but primarily the graduated plan, with payments always over 200 and/or 300/month at any given time. I honestly cannot understand how a 35000 loan is not paid off yet. truly mind boggling.
Thank you for this info. I have been paying my school loan since 1997. it was sallie Mae but then became Navient . I have been working for non profit jobs for over 10 years and I am changing my loans from Navient to direct income sensitive and consolidated loans with Mohela I think it is called. I hope I understand everything correctly and that my loans will be forgiven once they are changed over to direct loans, and that they accept the forms proving 10 years of non profit work and that I have made at least 270 payments over the many years . Being 57 I really don’t want to make a mistake with what I am doing .
My understanding is you need to consolidate ***with the federal government, department of education DIRECTLY.*** NOT a private company (if Mohela is private and it sounds like it is). I just don't want you to make a mistake and lose out on forgiveness! Here is the department of ed web site link: studentaid.gov/app/launchConsolidation.action
I am in your same boat. I thought I was done but nope it’s never ending. I’ve probably payed well over 20,000 dollars on a 10,000 dollar loan and I still owe 8,000.
I would look into the “borrower defense act” - you have to fill out a form but a number of student loans were forgiven due to for-profit schools that mislead students by not being accredited.
I had sallie Mae loan since 2007. I used the loan to attend Colorado Tech University. I wasn’t informed about the changes to loan company, which is now Navient. I just received a letter from Navient last week in a yellow envelope that you would send a postcard in. It stated that they would garnished my pay check if I don’t contact them. What should I do?
I have FFELP loans with Navient that are consolidated. I do not understand why I would have to consolidate again. I have been paying these loans for over 20 years. 😠
Holy crap, 20 years? It's confusing though. They claim revisions are being made that if people have less than $12000 borrowed I think, that they will now have 10 year forgiveness of qualifying payments, and they are reducing the 30 year forgiveness mark down to 20 years for alk other loans. Please look into this, or ask about it when they start answering questions in regards to the loan forgiveness order. Ask before reconsolidating again because it resets the payment clock and ALL progress made if it isn't forgiven! I have ffelp too and was wondering about this myself as it's been 15 years for me but I am nervous about consolidating as I have a 30 year term plan. So it would set it all over again and scrub any interest I paid already and add more. But still not sure if FFEFL or FFELP fall under the new term revisions as it doesn't seem to apply to the forgiveness. Hopefully they will make it clear for everyone before they screw a lot of people who have over a decade worth of payment progress!
@@sp442federal Student loan interest rates are set by Congress and have been high for a longgg time from personal experience at least back to Bush. And yes you can thank Biden for getting 10k or 20k forgiven... better than the orange schlep who came before him!
Honestly get a lawyer! There has to be free help too but it probably takes longer to get. Depending on how much you owe it is that important!! I was completely lost in the process and discouraged and procrastinated because I got stuck at one step.. they count on that!! They don't want to give you money. It wasn't until I had a lawyer friend "advise" me that went through the same process. For instance, MOHELA is the servicer you want to consolidate with for PSLF and the only one that handles PSLF loan forgiveness but there are five choices. I wouldn't have known which to choose! This is why there's such a high rejection rate. Do not give up!!
so I started paying on my loans around Sept/Oct 2003. I have two FFEL loans held by Navient, and my school is one that is covered by the borrowers defense deal. If I consolidate my two FFEL loans (something the bank or school did, I guess) into one to federal direct loan, will I automatically become eligible for the $10k loan forgiveness, as well as the refunds? I was in forbearance for a couple of years 12+ years ago, but haven't ever missed a payment.
I consolidated my loans when I first graduated in 2006/2007. At that time my loans were with Sallie Mae then they transferred to Navient. Currently I have 2 Federal student loans FFLEP with Navient and I received Pell Grants while going to college. Am I able to consolidate again? When I asked few years ago I was told no because I could only consolidate once and I had already consolidated... How can I verify if I qualify for student loan forgiveness and if I ha e to consolidate again and how so I qualify for forgiveness? I meet the income requirement. Thank you.
I paid off my private loans with Navient in May 2022 on a loan from a school that defrauded its students. Will I get credit for those towards PSLF which is being held by FedLoan now transferred to MOHELA?
I just read that they changed the cut off date for consolidation to September 29th. I missed it because I thought my loans were department of education. Just learned they are not. Should I go ahead and consolidate for other potential benefits of forgiveness? Would it be worth it?
A lot of people and their loans fall under this loophole, but many of these people are still going to apply for the student loan forgiveness. Hopefully the Department of Education still recognizes these as federal loans for the $10k or $20k. And I would still consolidate and hopefully that September 29th timeline gets extended.
It's confusing though. Did you get anymore information on FFELP and the loan forgiveness. On updated sources, they say the only setback is that the "clock resets" on what you've already paid, but if loans are being forgiven why does that even matter? It sounds like all loans being consolidated still may not be forgiven?
Can FFELP Consolidation loans be consolidated into a Direct Loan? Specifically, I have two FFELP Consolidation loans serviced by Navient. Can these loans be consolidated into a Direct Loan? Thanks.
I want to know why only people with the private loons that got scammed are going to have that scammed money reimbursed to them but the rest of us with Federal who were scammed in the same exact way are forced to eat it
This literally has no idea what he is talking about. It is the exact polar opposite of what he is saying. Those with federal loans will be forgiven according to the requirements. Those with private loans will have no forgiveness. Like I said, exact opposite
Do I really need to consolidate my FFELP loan from Navient? I currently have 3 different loans with different companies. Ed financial with 2.3% interest which is in deferment due to income, mohela 0% ehich is in deferment due to income and navient with some interest rates at 6.3%, 2.5% and right now it's in deferment due to income and I'm making interest only payments with just navient. Would it be beneficial to consolidate all the companies into one to start paying off these loans instead of making just interest only payments on one? if so what company do I consolidate with?
My understanding is you should consolidate directly with the Feds, but the channel Student Loan PLanner might be able to help you confirm. OR call the Feds directly. studentaid.gov/app/launchConsolidation.action
Can you discuss those who had sallie Mae and naive to loans but are now under nelnet. With those old loans. Do you have a P.O. Box where a check can be sent?
My situation is that I had navient for my sallimae loan From 2008. They wouldn’t let me qualify for income driven they wanted way too much. In March 2021 I settled it because they had sent me to a collection agency and I didn’t want to go to court. Is there a way that I can fight it and get my money back?
Is there any hope for couples that got Spousal Consolidation Loans? We have been struggling through this for over 20 years? I've actually been working for Non-Profits for almost that long as well! But it looks like we are the only ones with help in sight!!! Our original consolidated loan was for about $66,000. Being on IBR we have paid back over $90,000, but The total Navient tells us we still owe (because our monthly payments never even cover the interest) is over $145,000. We consolidated in 1999, My wife's loans were for her Masters, my Loans were for my BA. We feel like we are the only group still being held with a knife to our necks. We can't even get our 8.5% interest rate reduced!
Why is Navient allowed to do the same predatory conduct with federal loans and not be held responsible? Why $200+? I borrowed 50k from 1995-1998 and 20k in 2012. I owe $139,000
Hi Stanley, first of all great video, thanks for posting these details. I do have some questions that maybe you can shed some light on? My loans were originally through Sallie Mae in 2001 when I attended college. since then Navient has bought my loans. I've been paying my loans, I used up all my forbearance time back in early 2000's. I didn't start paying on my loans until late 2002 or beginning of 2003. April of 2015 is when I started the "graduated payments" and have done this process every other year submitting to lower payment to the "graduated pricing" I lived in IL, so I did get the Navient $260 check last month. And I didn't even pay attention that my FFELP loans didn't even qualify for the tax pause during Covid in 2020. So, I have consolidated my loans into 2 loans. They are FFELP loans (federal loans from my understanding), I have participated in the "graduate payment plans". Will the DOE review my account and give me credit for payments that I have made? Thank you
I'm needing help is there anyone who can help me I have no idea what I qualify for. I'm nit comfortable calling Navient. I'm not comfortable talking with lawyer gettin swayed to pay them I have my address updated with federal student aide. I took a loam out with Sallie Mae woth junior city college then they sold to naveint yes I have been in forbearance think our but made no payment due to hardship. Over 20 years now think 4k was amount now up to 7k. I'm not sure if in default ? N I like to get this off me. I did a bankruptcy 10 years ago maybe longer YES I NCLUDED STUDENT LOAN BUT LAWYER SAID COULDNT BE CAMCELLED. NOW I WONDER IF IT CAN SINCE MY FEDERAL WAS NOW PRIVATE?? MY CREDIT IS TERRIBLE TOO N CANT EVEN GET A CREDIT CARD THOUGH IVE BEVER EVER BEEN IN DEFAULT EVER. I WENT BANKRUPT FROM DUSABILITY IM TOTALKY PERMANENT DISABLE BUT NOT THRU SS. JUST FROM WORK COMP. IM NOT SURE WHICH FORM TO FILL OUT N I NEED GUIDAMCE JUST SOMEONE TO COME ALONG SIDE OF ME HOKD MY HAND N HELP ME. AG. LUV SOMEONE TO C9NTACT ME. SDCONDOEXPERT@YAHOO.COM
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Thank you so much for this information! I would not have known I need to consolidate my loans so this could happen for me and give me some relief! So appreciate you sharing your knowledge.
You are so welcome!
You are the man!!!
Great information. From your description it would seem my Navient loan should be forgiven but I’ve been billed again after almost a year of no contact from them. I call them and they give me the run around. It’s so horrible that this system is set up to be so confusing and we make mistakes agreeing to offered deferments- for example - that later impact that 120 payment clock. And it’s a complete lie that lenders don’t look at student loans negatively, they do. I’ve been turned down for mortgages for high debt to income ratios and this is my ONLY debt. I see why people get so hopeless. Thank you for trying to help.
Bless You!!! Thank you so much for this thorough explanation! I have been trying to figure all of this out for a LONG time and now I know EXACTLY what I need to do. Thank you, thank you, thank you!!!
i never recieved any checks for my 2007 navient federal student loan. but i got approval for borrower's defense on 2/28/2023.
Omg! Best explanation ever!!! Thank you!!!
Navient never put me in income contingent or income driven once it was available. I was in forbearance off and on for years due to major family issues that would not allow me to work off and on throughout my life. State tax is demanding tax on 100% of the total balance which was blown up by Navient by their wrong doing for which they were sued. Why are thousands in 4 states paying tax on this???
Best direction that I have been given by anyone. Thank you!
I've been trying to understand FFEL loans under Navient for the past week, and this is the first resource I've come across that makes it at all understandable. Thank you!
What about Nelnet?
Thank you for making sense!
TY
Wow. It's been as if the fog I have been wandering in circles in, surrounding the quagmire of information related to this issue for a long while has lifted; this is the first thing that has made sense to me. This presentation was easy to understand from the first sentence, and the presenter put me immediately at ease, and enabled me to do that. I FINALLY GET IT. Many kudos and sincere thanks.
I'm so confused my loans are old and I have had forbearance the whole time I had it but yet I'm not forgiven?
So what I am hearing is that if you never paid on your loan you get it wiped out but if you paid monthly for 20 years and it’s still not wiped out. I am so annoyed right now I have been for over 20 years I work for non profits for 9 years one year the company was bought by a for profit company so I am disquailfied. I was sent an email saying my loans were forgiven but just now I am getting harassed by Navient again. I borrowed 10,000 dollars over 20 years ago payed a lump sum of 6,000 at once because that’s what was left I still owe 8,000 wtf.
So if we still have a FFEL federal loan through Navient we have to contact department of Education? No one has ever contacted me. This seems absurd the older loans used as a trap are not forgiven.
my daughter has had her student loans forgiven by Navient under PSFL ruling but Navient has made me , her father and cosigner of her original federal loans, responsible for the entire debt . I cosigned with the understanding to pay only if she was unable to pay . Navient has made negative delinquent reports to credit bureaus and reduced my score 100 points . My daughter debt is not forgiven if she obligates herself to pay the debt that she doesn't want me to pay ! HELP , are we obligated to pay the debt that is already forgiven ????
Has anyone received a letter from Navient saying their PRIVATE LOANS have been canceled? I got the post card about the FEDERAL LOAN restitution and I received the payment for that, but I’ve received nothing about my PRIVATE LOANS and after reading all of the qualifications for PRIVATE LOAN cancellation, I definitely qualify.
I've received notification of nothing.
I received an email from Navient on 7/8 saying they are processing my loans to be discharge and I don’t have to do anything, as my loans are in a mandatory forbearance by ED during the process. They will update me if anything, still waiting
I received some months ago notification from Navient that my loans qualify for forgiveness, but need to consolidate them into federal direct loans. They are FFEL loans. So I got together all the information needed and beginning to fill up the forms for consolidation.
Will it make sense to consolidation of an ffelp loan to take advantage of the 10k loan forgiveness program
Navient put my account default even though I was making payment through my payroll they closed my account I haven't they transferred my account to accendium and they want full amount in order to release me from the bondage
I thought the forgiveness term is 10 years and not 20 year for the PSLF.
Income Driven Repayment plan, how much do you need to make for a household of two/
Do you know if the postcard just notifies of the forgiveness but we don’t have to do anything? I’ve been traveling for some months and have not been back to my mail box. I don’t want to miss the postcard or it her lost. It’s just a notification?
Looks like a lot of my loans have been forgiven almost 100k just happened
YAY! so happy for you!!
They only forgiving up to 20k
How did you find out
How did that happen? Didn't think they were paying them yet?
@@evahernandez730 they haven't, she is lying
I didn’t get a loan from Navi ent, I was under Sallie Mac and I didn’t take out a loan, I guess they went out of business. Still fighting to to who took a student loan out on me. I took a $5000 dollars loan when up to $40,000.
Thank you for the clear and concise explanations!
Still confused
I'm just confused! Been reading all day on various websites and I still don
Thanks a lot for the well explained process and information. It's a shame that with all the taxes we pay, our nation is like a third world where we have to pay extremely expensive education and just as bad with health care. I do not call that we should get free education and free health care. Paying high taxes, nothing we get from our government system/programs is free. We pay very dearly for it with our excessive taxes. The government spends our taxes in excess, not forgetting the public servants salaries and gifting in abundance to other nations in war. We end up paying for all that absurd spending when our taxes should be spent in education and health care.
I was told my Navient that I was going to be forgiven after 10 years. I was steered into all the forbearance and then finally I was able to get into the IBR plan. I am 68 years old, still working and want my loans forgiven. What do you recommend I do? My loans were consolidated before I was put into the IBR plan. Why is all this so hard. I have no clue what to do. Am I going to pay till I die?
I was told forbearance doesn't count towards paymentes but IBR does even if the payments are $0. Were you in forbearance most of the time before switching to IBR? Its HARD to get approved but depending on your circumstances sometimes they have hardship forgiveness if the cost to pay them would cause hardship but that's usually under bankruptcy. Your loan is supposed to be forgive after 25 years though unless you consolidated or refinanced the loan though, then it resets the payment clock. So say you only have 5 years left to pay and some slick rep talks you into consolidating for a cheaper plan, it'd start all over again for 25 or 30 years depending on the terms. Log onto your account and see if you can find the term of your loan and then you'll know the best way to proceed. Also if you ever worked a public service job at any point after your loan, the time served counts towards it if I'm not mistaken.
I think it's time to look for professional help like a lawyer. Someone who specializes in this.
I was completely stuck and there are things they know that we just don't unfortunately that's how it's designed.
You'd be surprised how many lawyers go through these same processes with their long educations!!! Some have soft spots
Thanks! Yesterday, I found out my loans with Navient were FFEL and so I consolidated those loans with my federal loans that are with MOHELA. Plus, I'll be able to apply the student loan forgiveness to the new amount.
I've had federal loans with Navient, but only the private loans are being considered. What gives?
why cant i get my ffelp loans refunded . this is so frustrating and depressing
Please make more videos 🙏🏽🎓💸
Navient just raised the interest on my private GradExcel loan by 2.25% immediately and AS SOON AS Biden announced the student loan forgiveness. I feel this is Navient’s way to make extra money because they will be losing the servicing of the forgiven loans under Biden’s plan. I was also not notified! I noticed the monthly payment increase. Their actions once again are unconscionable and likely usury.
Same just happened to be ... The hit me with late fees out of nowhere because of interest rates. How the hell do we get out of this ??
They sent me a letter that I no longer qualified for the “discounted” interest rate because I sent my payment late 🤦🏽♀️… it’s robbery without a gun, someone has to stop this extortion
Yep I am getting screwed over again too it’s never ending
Thank you, sir! Finally some explanation of the Navient quagmire. I'd wondered why I didn't qualify for the Covid payment forbearance. Geez!
Does the borrower's federal FFEL loan serviced by Navient need to be consolidated to be eligible for the IDR adjustment for qualifying periods of forbearance/deferment?
Can't log in to the first web you mentioned. I went to school a long time ago and don't remember any of the info
I think i need a lawyer this is alot of information and i dont know where my situation falls. I paid off my loan 3/14/2020. Now this... i want my $ back. And I had income based forberance/deferment... whatever its called.
so my husband and I consolidated our loans back in 1996 before we started making payments. I believe they are fed loans serviced by Navient That being said we are still paying on them 25 years later....but from your video it sounds like we have no options to get anything forgiven because of spousal consolidation? the amount of money we have paid is remarkable. The original combined principal was about 35k. We have never defaulted, and deferred twice for a total of 18 months in that 25 years. Various payment plans over the years based on affordability, but primarily the graduated plan, with payments always over 200 and/or 300/month at any given time. I honestly cannot understand how a 35000 loan is not paid off yet. truly mind boggling.
Congress just passed a law to separate these consolidations. You now most likely qualify.
Thank you for this info. I have been paying my school loan since 1997. it was sallie Mae but then became Navient . I have been working for non profit jobs for over 10 years and I am changing my loans from Navient to direct income sensitive and consolidated loans with Mohela I think it is called. I hope I understand everything correctly and that my loans will be forgiven once they are changed over to direct loans, and that they accept the forms proving 10 years of non profit work and that I have made at least 270 payments over the many years . Being 57 I really don’t want to make a mistake with what I am doing .
My understanding is you need to consolidate ***with the federal government, department of education DIRECTLY.*** NOT a private company (if Mohela is private and it sounds like it is). I just don't want you to make a mistake and lose out on forgiveness!
Here is the department of ed web site link: studentaid.gov/app/launchConsolidation.action
I am in your same boat. I thought I was done but nope it’s never ending. I’ve probably payed well over 20,000 dollars on a 10,000 dollar loan and I still owe 8,000.
You explained this in a understanding format where as all the information everywhere is so confusing. Thank you
I have a Tuition Answer Loan with Navient. What do I need to do to get forgiveness. I only have 10k balance left. That would be life Changing
I co-signed loans that were administered by Naviant that are in collections, do I qualify?
Any type of forebearance or deferment will qualify for PSLF?
Thanks so much for this information. I was lost and confused by the immense information out there. Again thanks
This is a dumb question I know but do I need to consolidate FFEL SUBSIDIZED and my FFEL UNSUBSIDIZED?
Has Navient/Sallie Mae ever been sued for approving loans for students going to for profit schools that weren't accredited?
I'm interested if there class action
I would look into the “borrower defense act” - you have to fill out a form but a number of student loans were forgiven due to for-profit schools that mislead students by not being accredited.
I had sallie Mae loan since 2007. I used the loan to attend Colorado Tech University. I wasn’t informed about the changes to loan company, which is now Navient. I just received a letter from Navient last week in a yellow envelope that you would send a postcard in. It stated that they would garnished my pay check if I don’t contact them. What should I do?
I have 2 FFELP Stafford unsubsidized loans. The term FFEL gets used. Is FFEL and FFELP the same thing?
How did you get these details? Where are all of these specifics listed?
My Navient Loans says they are private
I have FFELP loans with Navient that are consolidated. I do not understand why I would have to consolidate again. I have been paying these loans for over 20 years. 😠
Holy crap, 20 years? It's confusing though. They claim revisions are being made that if people have less than $12000 borrowed I think, that they will now have 10 year forgiveness of qualifying payments, and they are reducing the 30 year forgiveness mark down to 20 years for alk other loans. Please look into this, or ask about it when they start answering questions in regards to the loan forgiveness order. Ask before reconsolidating again because it resets the payment clock and ALL progress made if it isn't forgiven! I have ffelp too and was wondering about this myself as it's been 15 years for me but I am nervous about consolidating as I have a 30 year term plan. So it would set it all over again and scrub any interest I paid already and add more. But still not sure if FFEFL or FFELP fall under the new term revisions as it doesn't seem to apply to the forgiveness. Hopefully they will make it clear for everyone before they screw a lot of people who have over a decade worth of payment progress!
We are fkd no relief. I have the same loans. Thanks Biden
@@sp442federal Student loan interest rates are set by Congress and have been high for a longgg time from personal experience at least back to Bush. And yes you can thank Biden for getting 10k or 20k forgiven... better than the orange schlep who came before him!
@@clotheman again does not pertain to Ffelp or Ffel loans. 👍
Honestly get a lawyer! There has to be free help too but it probably takes longer to get. Depending on how much you owe it is that important!!
I was completely lost in the process and discouraged and procrastinated because I got stuck at one step.. they count on that!! They don't want to give you money.
It wasn't until I had a lawyer friend "advise" me that went through the same process. For instance, MOHELA is the servicer you want to consolidate with for PSLF and the only one that handles PSLF loan forgiveness but there are five choices. I wouldn't have known which to choose! This is why there's such a high rejection rate. Do not give up!!
What about the money already paid in, do we get reimbursed for that money, too?
Does any know if the Salie Mae loans will be forgiven?
so I started paying on my loans around Sept/Oct 2003. I have two FFEL loans held by Navient, and my school is one that is covered by the borrowers defense deal. If I consolidate my two FFEL loans (something the bank or school did, I guess) into one to federal direct loan, will I automatically become eligible for the $10k loan forgiveness, as well as the refunds? I was in forbearance for a couple of years 12+ years ago, but haven't ever missed a payment.
I am wondering the same thing. No one is letting us know if we consolidate into a direct loan that at least 10000 will be forgiven.
What about parent plus loan
I consolidated my loans when I first graduated in 2006/2007. At that time my loans were with Sallie Mae then they transferred to Navient. Currently I have 2 Federal student loans FFLEP with Navient and I received Pell Grants while going to college. Am I able to consolidate again? When I asked few years ago I was told no because I could only consolidate once and I had already consolidated... How can I verify if I qualify for student loan forgiveness and if I ha e to consolidate again and how so I qualify for forgiveness? I meet the income requirement. Thank you.
I paid off my private loans with Navient in May 2022 on a loan from a school that defrauded its students. Will I get credit for those towards PSLF which is being held by FedLoan now transferred to MOHELA?
I had an FFELP with $311 left on it so they just paid it off. Details say it was a $4000 refund tho...does that mean they'll be sending me a check??
I just read that they changed the cut off date for consolidation to September 29th. I missed it because I thought my loans were department of education. Just learned they are not. Should I go ahead and consolidate for other potential benefits of forgiveness? Would it be worth it?
I missed it too , no warnings :( I still consolidated if there’s maybe an extension
A lot of people and their loans fall under this loophole, but many of these people are still going to apply for the student loan forgiveness. Hopefully the Department of Education still recognizes these as federal loans for the $10k or $20k. And I would still consolidate and hopefully that September 29th timeline gets extended.
@@jaimealex6723 where did you go to consolidate and was the process easy & quick?
@@AVillaBeats yes it was quick and easy , You can go do it at studentaid.gov anytime
@@jaimealex6723 thanks! Gonna do it today.
Incredibly insightful. I have FFELP loans with Navient, and it seems like it would be in my best interest to do a direct consolidation loan with FSA.
Where u able to do this and get forgiven?
It's confusing though. Did you get anymore information on FFELP and the loan forgiveness. On updated sources, they say the only setback is that the "clock resets" on what you've already paid, but if loans are being forgiven why does that even matter? It sounds like all loans being consolidated still may not be forgiven?
@@Udohme I didn’t switch yet
what if your dept of ed loans were sold to navient?
Can FFELP Consolidation loans be consolidated into a Direct Loan? Specifically, I have two FFELP Consolidation loans serviced by Navient. Can these loans be consolidated into a Direct Loan? Thanks.
Yes
According to Navient, yes.
Thank you for explaining!!!!!
Do you have to have a certain income to qualify for IDR?
Excellent Commentary,
Thank you so much for sharing..
If someone else was the endorser of the loan and i was a reference or a cosigner am i responsible for the loan if the endorser passed away?
Thanks for this info! I have an FFEL loan that's showing up in Navient but not showing up on the Fed Student Aid site. Any suggestions?
Im confused still
I want to know why only people with the private loons that got scammed are going to have that scammed money reimbursed to them but the rest of us with Federal who were scammed in the same exact way are forced to eat it
This literally has no idea what he is talking about. It is the exact polar opposite of what he is saying. Those with federal loans will be forgiven according to the requirements. Those with private loans will have no forgiveness. Like I said, exact opposite
Man this is confusing AF! Even with a degree... Lol!
😂😂😂
Do I really need to consolidate my FFELP loan from Navient? I currently have 3 different loans with different companies. Ed financial with 2.3% interest which is in deferment due to income, mohela 0% ehich is in deferment due to income and navient with some interest rates at 6.3%, 2.5% and right now it's in deferment due to income and I'm making interest only payments with just navient. Would it be beneficial to consolidate all the companies into one to start paying off these loans instead of making just interest only payments on one? if so what company do I consolidate with?
My understanding is you should consolidate directly with the Feds, but the channel Student Loan PLanner might be able to help you confirm. OR call the Feds directly. studentaid.gov/app/launchConsolidation.action
Can you discuss those who had sallie Mae and naive to loans but are now under nelnet. With those old loans. Do you have a P.O. Box where a check can be sent?
Have you tried calling them? Their website has their contact info.
This was very helpful! Thank you!
Thank you!
This is my actual login, not the Church's below.
How is this company allowed to still exist
They keep telling me no
My situation is that I had navient for my sallimae loan From 2008. They wouldn’t let me qualify for income driven they wanted way too much. In March 2021 I settled it because they had sent me to a collection agency and I didn’t want to go to court. Is there a way that I can fight it and get my money back?
Very helpful information and very easy to follow you! Thank you for breaking things down! I understand better now that I would possibly qualify.
they don't want to forgive my loan because is less than 10.000
is that all you had originally or is that what you have left?
Is there any hope for couples that got Spousal Consolidation Loans? We have been struggling through this for over 20 years? I've actually been working for Non-Profits for almost that long as well! But it looks like we are the only ones with help in sight!!! Our original consolidated loan was for about $66,000. Being on IBR we have paid back over $90,000, but The total Navient tells us we still owe (because our monthly payments never even cover the interest) is over $145,000. We consolidated in 1999, My wife's loans were for her Masters, my Loans were for my BA. We feel like we are the only group still being held with a knife to our necks. We can't even get our 8.5% interest rate reduced!
I meant without Help!
One last apolgy, I handle the media for my Church as a volunteer, and I accidentally used their RUclips Login for this, not mine.!
Great content. I'll be signing up for your newsletter. Thank you.
Really appreciate this video. It was super helpful in answering my questions.
I owe $223 dollars 😂🤣 Great for the others.
Thank you so much!
This has been really confusing 🤪
Why is Navient allowed to do the same predatory conduct with federal loans and not be held responsible? Why $200+? I borrowed 50k from 1995-1998 and 20k in 2012. I owe $139,000
Same situation
Hi Stanley, first of all great video, thanks for posting these details. I do have some questions that maybe you can shed some light on?
My loans were originally through Sallie Mae in 2001 when I attended college. since then Navient has bought my loans. I've been paying my loans, I used up all my forbearance time back in early 2000's. I didn't start paying on my loans until late 2002 or beginning of 2003.
April of 2015 is when I started the "graduated payments" and have done this process every other year submitting to lower payment to the "graduated pricing"
I lived in IL, so I did get the Navient $260 check last month. And I didn't even pay attention that my FFELP loans didn't even qualify for the tax pause during Covid in 2020.
So, I have consolidated my loans into 2 loans. They are FFELP loans (federal loans from my understanding), I have participated in the "graduate payment plans". Will the DOE review my account and give me credit for payments that I have made?
Thank you
Pretty much same for me.
Do you have a email to contact you? I have a unusual senerio with a defaulted loan. Appreciate your advice.
your appointments are booked out until October on your website.
Yes, I stay booked out for free calls.🤷🏽♂️
This is great info! Thank you. I'll be consolidating my FFELP loan ASAP!
Where u able to do that and get it forgiven?
I'm needing help is there anyone who can help me I have no idea what I qualify for. I'm nit comfortable calling Navient. I'm not comfortable talking with lawyer gettin swayed to pay them
I have my address updated with federal student aide.
I took a loam out with Sallie Mae woth junior city college then they sold to naveint yes I have been in forbearance think our but made no payment due to hardship. Over 20 years now think 4k was amount now up to 7k.
I'm not sure if in default ? N I like to get this off me.
I did a bankruptcy 10 years ago maybe longer YES I NCLUDED STUDENT LOAN BUT LAWYER SAID COULDNT BE CAMCELLED. NOW I WONDER IF IT CAN SINCE MY FEDERAL WAS NOW PRIVATE??
MY CREDIT IS TERRIBLE TOO N CANT EVEN GET A CREDIT CARD THOUGH IVE BEVER EVER BEEN IN DEFAULT EVER. I WENT BANKRUPT FROM DUSABILITY IM TOTALKY PERMANENT DISABLE BUT NOT THRU SS. JUST FROM WORK COMP.
IM NOT SURE WHICH FORM TO FILL OUT N I NEED GUIDAMCE JUST SOMEONE TO COME ALONG SIDE OF ME HOKD MY HAND N HELP ME.
AG. LUV SOMEONE TO C9NTACT ME. SDCONDOEXPERT@YAHOO.COM