On Ramp Forbearance Program Ending Sept 30. What It Means for Borrowers

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  • Опубликовано: 17 ноя 2024

Комментарии • 41

  • @steveshow-tos5394
    @steveshow-tos5394 Месяц назад +11

    Everything is delayed. I submitted my PSLF employment certification to certify my last 6 PSLF employment periods 9 weeks ago. Just made my 122nd payment yesterday towards PSLF. Pretty frustrating how the Ed Dept. isn’t even processing the few programs they have that aren’t stalled.

    • @Lord1001
      @Lord1001 Месяц назад

      Me too. Now I have until 10/31 to recertify IBR but that is not an option online. I guess forebearance is my best option.

    • @eriamhsl3841
      @eriamhsl3841 Месяц назад +2

      Lol I submitted mine a year ago..
      Nothing.

    • @gapehach4899
      @gapehach4899 Месяц назад +1

      I agree. My form was submitted in Feb. Doe shows no other pmt required, but MOHELA shows I still owe. And MOHELA just doubled loan on my credit report. They just keep saying you are up first for final processing. They only care about save plan not Pslf that existed long before Save.

    • @iamstarfox87
      @iamstarfox87 19 дней назад

      Correct. Payments for Federal loans are delayed until July 2025 with no interest if you're on that SAVE plan

    • @eriamhsl3841
      @eriamhsl3841 19 дней назад

      @iamstarfox87 since when?!

  • @oakcityclement
    @oakcityclement Месяц назад +7

    This administration has really screwed things up. it's unreal.....

    • @P8nplays
      @P8nplays Месяц назад

      Idk what the deal is I don’t want them to screw all of us who just want to pay at least some save plan payment we’re a god send but not being able to get IBR form done online rn is crazy

  • @plainmom2
    @plainmom2 Месяц назад

    I’m so grateful that there are videos like yours to help explaining these new loan opportunities

  • @kristenw9995
    @kristenw9995 Месяц назад +3

    Final PSLF was submitted in July. I'm still waiting for it to be processed!! Here we are fixing to head into October! Impatiently waiting!! Pushing close to 90 days of waiting!

    • @Robier1447
      @Robier1447 Месяц назад +2

      I put mine in in April. This is ridiculous.

    • @steveshow-tos5394
      @steveshow-tos5394 19 дней назад +1

      Hopefully you’ve heard back by now! I’m still waiting on a PSLF buyback request I submitted 8/31/24. I called yesterday and was told it could be 90 days for the request to process. So if you applied in July, fingers crossed they got your discharge done by now. If not, the current ETA is 90 days, so they’re late.

    • @kristenw9995
      @kristenw9995 19 дней назад

      @steveshow-tos5394 hey. So I finally heard back this month. I first got an email from FSA telling me I was approved and they would contact mohela. Then mohela cleared it all about a week later and now FSA is clear. Definitely feel a huge relief! Good luck! Seems like it is taking a few months to get it processed.

  • @ateniotetenio6323
    @ateniotetenio6323 Месяц назад +6

    This is not true. I received a notification with the same date from my servicer: "The forbearance will end September 30" so I gave them a call and I was told I should dismiss this notification as this forbearance we all have been placed will be extended indefinitely until a final decision is made by the courts. It is inaccurate to state that the forbearance will end September 30.

    • @larrycampbell7018
      @larrycampbell7018 Месяц назад +1

      Who is your servicer?

    • @ateniotetenio6323
      @ateniotetenio6323 Месяц назад

      @@larrycampbell7018 ED

    • @ateniotetenio6323
      @ateniotetenio6323 Месяц назад

      @@Dragons_And_Giants ED

    • @goldbrick2563
      @goldbrick2563 Месяц назад

      Nice, thanks

    • @GemGemMarie2162
      @GemGemMarie2162 Месяц назад

      Yes but it is allober the news. The information is confusing. Even on the website the info is kind of conflicting.
      I am on one page and it says do nothing until more info is provided and on another it says " action required"!

  • @financialwisdom432
    @financialwisdom432 Месяц назад +5

    im confused

  • @12345nidal
    @12345nidal Месяц назад

    I'm curious, do I need to worry about applying for the on-ramp forbearance if I recently graduated school and am in the 6-month grace period? Thanks.

  • @dolphindddd
    @dolphindddd Месяц назад +1

    I did the PAYE renewal request about a month ago by paper, my next due date is February 23, 2025.

  • @SAreamusic1
    @SAreamusic1 Месяц назад

    So does interest start accruing again on October 1st???

  • @DrTJWatkins
    @DrTJWatkins Месяц назад

    I was going to fill out the paper application to apply for another IDR plan but according to student aid website PAYE is not accepting any new enrollees 😢 I feel so stuck what can I do?

  • @georgiacinq-mars1899
    @georgiacinq-mars1899 Месяц назад

    I was in the last step of my PP Double Consolidation. Does this affect me in any way?

  • @huongtrinh8609
    @huongtrinh8609 Месяц назад

    thank you!

  • @redpill-finance
    @redpill-finance Месяц назад +1

    Once this debt ponzi scheme melts down…. Travis for secretary of education in 2028!!!

  • @tiffanysteen1845
    @tiffanysteen1845 Месяц назад

    I’ve not made any payments last couple months under save and need rethink my IDR I hate not going towards loan forgiveness so I’m like I can keep my money in my bank accruing interest

  • @caseycooper2381
    @caseycooper2381 Месяц назад

    You know some people joined the military to pay for college.. it's time for other people to pay their dues!

    • @P8nplays
      @P8nplays Месяц назад +1

      Not everyone can go to the army If you have vision issues that can’t be easily corrected or preexisting conditions like asthma . We pay our dues in taxes every year for the money to rarely improve the country, social safety nets or literally doing anything to lower the price of living

    • @caseycooper2381
      @caseycooper2381 Месяц назад

      ​@@P8nplays Cool.. well when you are effectively offering free college via student loan forgiveness, don't think too hard about why the military can't meet its recruiting requirements.

    • @P8nplays
      @P8nplays Месяц назад

      @@caseycooper2381 most people aren’t getting forgiveness and people aren’t going to the army because you are just cannon fodder for this countries foreign meddling and resource hunting. Only reason we destabilize these countries is for resources and to make sure people see America as the “police”.

  • @mapguy32
    @mapguy32 Месяц назад

    Wouldn’t it be easier to just use ICR or a standard repayment plan than wait?

    • @eriamhsl3841
      @eriamhsl3841 Месяц назад +2

      Not when your payment is more than your income. Lmao

    • @P8nplays
      @P8nplays Месяц назад +1

      The payments they want monthly are outrageous no one who’s making 40-50k and has to afford rent and groceries can afford a 400 dollar loan payment