Lawyer Explains: Private Student Loan Forgiveness & More

In this video, we explain how private student loan forgiveness works, review the differences between SAVE Plan Forgiveness and 25 Year Forgiveness, ways to tackle private loans, and more.
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Hosted by Stanley Tate and Emma Head
Editing by Helena Santín

[@Speak317]

Do private student loan companies ever write off or discharge?

[@stanleytate]

Rarely, but it happens when the SOL runs out or there’s some sort of lawsuit where they agreed to write off the loans.

[@monteroed6555]

I had Stafford Loans in college, however, Navient told me that I don't qualify for Loan Forgiveness. Is this true?

[@stanleytate]

You likely have FFEL Stafford Loans. Look into this article: www.tateesq.com/learn/what-is-a-ffelp-loan We also have videos on the topic.

[@melanielaux279]

You two are amazing! I have learn more from you all than any Student loan rep.
Wonder if I could ask one question! Last week I entered the Fresh Start program. I wanted to know if its true that once I consolidate my two FFEL loans into one Direct loan and enter an IDR Plan. At that point does the Fresh Start program end?? Will it go back onto my credit report as a Direct loan.
You are amazing...and I love how you really break things down. You really are a Student loan Therapists.

[@oscarcetraro3057]

Can you please mention cases and they result of them

[@stanleytate]

We're happy to help. Can you explain what you mean by "mention cases"?

[@madisyntrevor354]

🤭 Promo`SM

[@Thrivingvalley]

Thank you for breaking this down. Is there any allowance to reconsolidate loans from Mohela/sofi back to dept of Ed to reclaim these benefits? I have plenty of credit years....all my previous employers qualify 😢

[@stanleytate]

Unfortunately, no. You can't convert a once federal loan from a private loan back to a federal loan.