The SAVE Plan on lockdown: What to know about SAVE Plan changes
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- Опубликовано: 6 сен 2024
- A federal court has prevented the Department of Education from operating the Saving on a Valuable Education (SAVE) plan.
Anyone on SAVE will be thrown into forbearance, which will NOT count towards PSLF or IDR forgiveness.
📩 Get the brand new IDR calculator that minimizes your student loan payments so you can use the money on better stuff:
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#SAVEplan #PSLF #StudentLoanForgiveness #StudentLoanPlanner
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@@StudentLoanPlanner Travis please talk about IHSS eligibility for PSLF. It can help a lot of people if it qualifies. Thank you
Does the GOP ever do anything to actually help people, just curious.
There's a difference between helping people and rewarding irresponsibility. But to answer your question, no.
Thank you Travis! The beacon of light guiding us through stormy seas!
Thanks so much for putting these videos and livestreams out. Just beginning this process for my parents' loans (I'm their child) and have been freaked out by this whole slew of changes while trying to do the double consolidation loophole process. Crossing my fingers, but thanks again for all of your updates
Mr. Travis, Mrs. Meghan, thank you for your commitment, you information, you’re insight, all the time you need to prepare, create, edit videos. Yes indeed everything depends on the election. Let’s pray that all the borrowers who have or will receive forgiveness are registered to vote and are taking the steps to say thank you to Mr Joe Biden. He is a president that has done so much for American people even after lawsuits he & Cardona with the administration still continues to fight for student loan borrowers. So grateful 😁
So glad I was able to join and thank you again for always keeping us updated on changes, tips about how to navigate these changes and self assurance
Do we know when everything with PSLF is going to be done? Still waiting for all of my qualified months to show back up on my loans.
Thank you so much for putting this out. It helped to calm my sticker shock. Mohela already sent me a payment schedule that shows a 10 year standard payment for December that would wreck my current budget and put a lot of strain on my family. I appreciate your calm advice and reassurance!
I've been freaking out too!
To compromise, they should allow SAVE to continue at 10% of discretionary income and keep the rest of the plan as is. Maybe extend 5 years on the forgiveness payments if that’s what it takes. The biggest factor of save is the fact that discretionary income is 225% of the poverty line. Saves lower and middle income households from falling apart. If we can keep that guideline but bump from 5 to 10% on undergrad loans we should be okay. Graduate loans are the real killer anyways, so the bump to 10% really shouldn’t hurt people too bad
I am so glad I found this video and you guys. Definitely made me feel better about the state of student loans!
One big downside of SAVE ending is losing the income subsidy 😕
I am in SAVE but it took my payment so when is forebeafance kick in? Will that payment be counted towards PSLF? If I switch plans, that requires a recalculation and payment will increase. I can’t afford that. Ugh!!! What a mess!!
We’re all pretty much fucked, thank you so much for trying to clarify this for us.
Thank you both so much! This webinar was extremely helpful!
I'm in the home stretch of a Parents Plus double consolidation. The first one went through with no issue. The second one is in a TRANSFERRED status versus CONSOLIDATED status. Additionally, the loan title is X-XX Description Not Found. Any insights on why and what is my next step?
We are screwed basically 🤦♀️
Who's shocked about that?
Not exactly. The original ICR plan is still safe. Borrowers can move to that plan or PSLF.
@@mapguy32 Yeah, but how long is it going to take to move to another plan? After the IDR account adjustment, I have 38 months left until forgiveness (39 if July doesn't count). I want this to be over as fast as possible. If Trump becomes president, we're all scr*wed. He wants to eliminate all income-based repayment plans and all forms of student loan forgiveness, including PSLF. And if the Republicans are the majority in both the House and Senate, he'll probably get it done.
Currently on SAVE plan and working toward PSLF. I have 9 payments left. Just received the notice from Mohela re: administrative forbearance. This is what the document states: "You will receive credit toward IDR forgiveness and Public Service Loan Forgiveness (PSLF) for the
month(s) covered by the forbearance, assuming all other requirements are met". This seems contradictory to what you are saying and what the dep of Ed has said. Anyone else receive this?
just mohela mohela'ing they never give accurate information.
It does not count unless you pay & interest will accrue. MOHELA is not accurate.
You can’t switch, I tried we are literally in limbo
What's the TLDR of this? Physician on year 4 of PSLF repayments.
Can we do a buyback for PSLF?
Don't worry to much about waiving loans but the lower payment is nice .. they should leave that alone
Thank you so much. Looking forward to more! 😊 thank you for caring and sharing!
If I make payments anyway, will they cpunt?
Yes, if you pay it counts & you also can keep up with accruing interest
Does anyone know if you can also buy back payments you missed/forgot while being employed full time by a qualified employer?
will the months we were in SAVE and making payments prior to this July freeze count towards PSLF
I am working on double consolidation for the parent loan plus program and just was approved by the 1st 2 consolidations. I just received my final approval this week....started to move to the final consolidation when the stay happened. Can I move forward in this final process?
I can't find the pdf
thank you!
$595,or $5.95?
Bottom line VOTE DEMOCRAT! Don’t vote republican
Absolutely! Vote Blue everyone
@@Kali-tw1sl vote blue no matter who 🇺🇲
Screwed either way higher loan payments or higher prices 😊
@@rickmooney5931 Not really, inflation was a result of the pandemic (and the necessary measures to deal with it) primarily which is now coming down significantly. Trump will want to eliminate social programs to extend the corporate tax breaks which are set to expire in 2025.
Never voting for a GOP again
Like…like….like
time to flee this embarrassing country 🫡
just bring back PAYE.. this sucks so bad
you are supposed to be clarifying things... but you constantly use words that are a complete mystery to me.
Man, I appreciate the info, but its hard to listen to. You use the word “like” almost every 4th word. It’s so incredibly distracting.
Is he from California?😂
VERY GRATEFUL TO YOU BOTH!!!!! When it's time to handle my daughters Loan info next year, I'm booking! And I'll be happy to be paying the (duh commentor) $less than 600 bucks to help pay for these amazing videos AND personal help. xoxo
Pay your own bills, the real hard working americans wont.
Nah you are paying for my loan my man. You will have to. I am voting for Camera harissa for president this yea.