Income-Driven Repayment Forgiveness: New Deadline

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  • Опубликовано: 23 ноя 2024

Комментарии • 114

  • @jonclassical2024
    @jonclassical2024 11 месяцев назад +13

    Tate is an outstanding lawyer and expert in the student loan arena...he has helped me a lot....Highly Recommend!

    • @yvonneevans4498
      @yvonneevans4498 9 месяцев назад +1

      Will contact you geting papers ready.

  • @sashalatricexo
    @sashalatricexo 7 месяцев назад +2

    I really enjoy hearing his voice in the background of my day lol

  • @allkindsamusicchick
    @allkindsamusicchick 11 месяцев назад +6

    Thank you!! I almost tuned out completely, when I thought that your goal was to lead everyone toward bankruptcy. Glad I stayed with you. Appreciate the info. PP Loaner here.

  • @rdd25
    @rdd25 9 месяцев назад +9

    You doing the Lords work brother Thank you!! 🙏🏾

    • @stanleytate
      @stanleytate  9 месяцев назад +2

      I appreciate that

    • @Eddie-wn8tu
      @Eddie-wn8tu 7 месяцев назад

      Dang, even the Lord has student loan activity?

  • @KS-np6ph
    @KS-np6ph 6 месяцев назад

    Omg!!!!! Thank you! Thank you! Thank you! You were so clear and concise. I now have peace of mind, I did it correctly. ❤ Much love and appreciation. 😊

  • @financialwisdom432
    @financialwisdom432 10 месяцев назад +4

    I just consolidated, but I don’t know how many years I have left

  • @michaelbryan4618
    @michaelbryan4618 9 месяцев назад +2

    I put in my application for consolidation at the end of September and it's still in process with Nelnet. Is anybody else having a problem getting the consolidation finalized?

  • @Nursecynthia81
    @Nursecynthia81 8 месяцев назад +1

    I have two direct consolidated loans. One subsidized. One unsubsidized. Completed consolidation in 2016. Within those consolidated loans are two different years I entered into repayment. 10/2004 and then 6/2010. Will the IDR adjustment look at this and since the loans are consolidated will the balance be forgiven from the earliest date of 10/2004, in October of this year? Grateful for your wisdom!

  • @shallitube
    @shallitube 10 месяцев назад +1

    Thank you. I need to set an appointment with you how to opt out. I missed my previous appointment, my fault.

  • @dereck377
    @dereck377 3 месяца назад

    I have 119 out of 120 payments in the books and waiting for the education department to certify my final credit so I can be forgiven. I hope it goes smooth and I promise after I am forgiven, I will finally work at a job I enjoy instead of this hell hole government job I have now.

  • @sweeteuphoria1
    @sweeteuphoria1 9 месяцев назад +2

    Thank you!! I am currently in my 1st year of PSLF and have had loans since 2000. I wasn't able to utilize the PSLF waiver in time as I was not in public service to consolidate my undergrad loans with my grad loans and count the payments I made as a teacher in 2005 (for that undergrad loan, I have 64 payments left but close to 120 payments for my grad loans). Could the IDR waiver assist me? Could it be a disadvantage? I think I may have a max of 12 years of payments and some forbearance. Thank you so much!!!!

  • @vmarsfiles
    @vmarsfiles 5 месяцев назад +1

    Someone still paying a student loan generated in 1994 is diabolical and speaks to how broken our system is and how much more work needs to be done to change it...

  • @ProgressiveRRSignalman
    @ProgressiveRRSignalman 6 месяцев назад

    I have $43K left to pay. One loan is Subsidized, the other not. I started at just over $50K 20ish years ago. I have a family of 4, and we had an AGI of $124K. The FSA says I'm not eligible for forgiveness, or ever the IDR. Should I consolidate?
    The lowest payment plan they're offering is over $500/mo.
    The kicker is that I had $15K knocked of from Westwood College. $50K - $15K somehow equals $43K. Ugh.

  • @lauripan517
    @lauripan517 10 месяцев назад +2

    Where have you been all my Loan life?! :-) My Aidvantage Federal Ed Loans automatically transferred to Mohela after I filled out the PSLF application (Sept 2023) and I'm due to be forgiven in February 2024. I thought my Navient FFEL Graduated repayment loans could not be forgiven until I found your videos today-THANK YOU for the info! These FFEL loans are from 2003 so I thought maybe the 20 year forgiveness would apply but they are still there. I submitted the Direct Loan consolidation application today to Mohela for the Navient FFEL loans. The consolidation application said not to include the loans already going towards PSLF (already in Mohela). Should I leave the PSLF application as it is and assume they'll apply my PSLF application towards the FFEL loans I'm consolidating into Mohela from Navient? Should I stop the PSLF application and re-do it once my FFEL Loan consolidation to Mohela (direct loan) is approved?

    • @stanleytate
      @stanleytate  10 месяцев назад +2

      Thank you for find our videos. I'm glad you found them useful. I appreciate you asking me questions in the comments. I'd love to answer them, but I'd need to see your loans to advise you on what to do. To get my help, you can book a call using this link: link.tateesq.com/book-call-youtube
      You can also check out all of our free information on our website.

  • @RandomNexus
    @RandomNexus 10 месяцев назад +2

    I only have 1 loan, from the 80's, under 10k. Even if it counts as being in default, there's nothing to consolidate, or is this a different usage of the word(?) So, I guess I'd have to check in on the IDR program and may possibly get partially or all of my loan forgiven? I'm happy for some better info on these things, whether I understand all of it, or not.

  • @melissaw7
    @melissaw7 7 месяцев назад +2

    Thanks for this clearly outlined video! One question (referring to 6:24). My loans were with the Dept of Ed during COVID and were on the COVID Forbearance Plan. After COVID, they were, for some reason, transferred to Nelnet. I applied for forgiveness prior to the transfer but haven't received forgiveness. Does this mean I need to apply yet again by Apr 30?

    • @stanleytate
      @stanleytate  7 месяцев назад +1

      If your loans were on hold during the pandemic, then you should receive the forgiveness credit once it’s applied to your account later this year.

  • @anonymousK612
    @anonymousK612 11 месяцев назад +3

    I am repaying my loans under the Pay As You Earn - IDR Plan. What are the next steps for applying for the IDR Waiver? It's hard to find this information.

    • @stanleytate
      @stanleytate  11 месяцев назад +1

      You may not need to do anything. You may want to consolidate if you have multiple loans. But because you're already in the SAVE Plan, you already have loans held by the Education Department, so you'll get the adjustment no matter what. The question really is can you optimize your relief.

    • @MrAshkanblue
      @MrAshkanblue 11 месяцев назад

      Bro I hear you , If we change to SAVE plan , we lose our PAYE forever ( I read that in a hidden page from ED with a chart only happening to PAYE which is so cruel to say ) ... For now I'm sticking with PAYE , even though I'm accruing interest that could avoid if I was on SAVE. This makes it really hard and uncertain decision to switch the plan. It seems they forgot about the most needy category of people who are PAYE !!!

    • @mathprofii7877
      @mathprofii7877 9 месяцев назад

      Your next step is to get a job that earns enough to pay them back without asking the public to pay off your obligation!
      If your degree is worthless, then you need to get two or three jobs.
      Dont cry! You partied like a rock star and had pizza and Starbucks every day when you received your loans. Now be a big boy/girl and pay them back!

    • @tyneriarowe7390
      @tyneriarowe7390 7 месяцев назад

      ​@MrAshkanblue so isn't the save for a full forgivness

  • @grandtvideo7750
    @grandtvideo7750 8 месяцев назад +1

    Question ...UG loans ALL PAID off due to 2023 PSLF exception process SUCCESS...
    I have been paying on GRAD loan ="Mohela Direct Unsubsidized loan" since 2018 -
    At this point I would CONSOLIDATE GRAD loans with UG loans to RESET GRAD loan repayments to match the UG loans BUT UG loans are GONE/PAID -
    I went ahead and submitted a CONSOLIDATION form for the GRAD loan (despite not having anything to CONSOLIDATE it to) - Any idea if this is the CORRECT thing to do?
    Mohlea certainly did NOT adjust my GRAD loan to MATCH the UG lioas so I am hopeful that CONSOLIDATING will cause someone other than MOHELA to do so...?

  • @basedonprinciple
    @basedonprinciple 10 месяцев назад +3

    You're an angel. I have 1 Direct Consolidation Subsidized and 1 Direct Consolidation Unsubsidized with repayment start dates in 2006. The rest are all Direct Subsidized or Direct Unsubsidized loans with repayment start dates in 2010. Would applying for consolidation mean all these loans could be consolidated into one loan with a repayment start date in 2006?

    • @stanleytate
      @stanleytate  10 месяцев назад +4

      Based on what you've shared, yes. Consolidating would give all loans a start date going back to when the earliest loan entered repayment.

    • @Robier1447
      @Robier1447 7 месяцев назад

      I graduated from a master’s program in 2020. I just applied for the PSLF program. I’m waiting for my school to confirm my employment. I have Direct Loans and I’m struggling with the payment of $300. I’m on IDR. Should I consolidate? Would that make my payment higher? Would it disqualify me for PSLF?

  • @financialwisdom432
    @financialwisdom432 10 месяцев назад +2

    How do you know how many years you have left?

  • @halo9lady
    @halo9lady 8 месяцев назад +1

    Thank you SO much!

  • @Eddie-wn8tu
    @Eddie-wn8tu 7 месяцев назад +1

    Great Vids! TY TY, trying to interpret the fed website, and trusting said interpretation, in difficult. I'd love to hear if you have any inside scoop on the black box I am in the queue in. Zero feedback since consolidating 12/01/23. Even filed a complaint 3/1/24...no reply at all(it said 15 days) I have loans from 8/1994!!!!!! Phew!

  • @FirstnameLastname-vi7hm
    @FirstnameLastname-vi7hm 6 месяцев назад

    If I filed bankruptcy should I go about it that way? My lawyer told me I couldn’t put them in my bankruptcy

  • @amoshillmusic
    @amoshillmusic 6 месяцев назад

    Well here I am in May applying for idr and hoping they’ll approve mine for forgiveness. Late to the party but hopefully they’ll accept mine anyways

  • @CharityLeander
    @CharityLeander 9 месяцев назад +1

    Hi I have 6 FFELP loans left with Navient starting back from 2002 -2004 is my disbursement timeframe. Then the (6 mo) grace period to start repayment ended 6/2005. I've had many deferments, forbearances and monetary payments made throughout that timeframe. Should I consolidate my 6 FFELP loans with my existing federal direct loans that have switched hands from Greatlakes to Nelnet to soon I just got a letter it will be Mohela.... Before the april 30, 2024 deadline to qualify for the one time adjustment and/or possibly PSLF. I have worked in public service for over 2 years now. I'm just unsure what step to take. Thank you in advance for your any insight.

    • @stanleytate
      @stanleytate  9 месяцев назад +1

      Without looking at your loans, I can't tell you what to do. You can book 1:1 time with us for advice. Or you can check out our videos and website to DIY a solution!

  • @BurnseysRT
    @BurnseysRT 11 месяцев назад +6

    I consolidated my private loans and received 5 figures of forgiveness. Was paying on them for 20 years.

    • @choochootrain7540
      @choochootrain7540 11 месяцев назад +1

      But private loans aren’t eligible for forgiveness? You consolidated your private loans with federal loans?

    • @BurnseysRT
      @BurnseysRT 11 месяцев назад +2

      @@choochootrain7540 I consolidated my FFEL loans into federal direct loans. This made me eligible to forgiveness.

    • @kerryp7014
      @kerryp7014 11 месяцев назад

      @@choochootrain7540 He may have had "FFELP" loans (it was a program they had years ago). Basically, a private bank or agency is the lender, but the loans are backed up/guaranteed by the Federal government. These loans would still qualify for the forgiveness.

    • @fredwerza3478
      @fredwerza3478 8 месяцев назад +2

      I think you meant your "commercially managed FFEL loans" were consolidated into a Direct Loan --- private loans are NOT eligible for forgiveness

    • @BurnseysRT
      @BurnseysRT 8 месяцев назад

      @@fredwerza3478 correct

  • @jenniferjumper7109
    @jenniferjumper7109 8 месяцев назад +2

    Apparently my brain is stubborn and still not getting it lol. I had FFLEP loans and consolidated during the pandemic to one federal loan. My disbursement date shows 2022 but I had been paying on those loans since 2009. Is that what the adjustment is for?

    • @fredwerza3478
      @fredwerza3478 8 месяцев назад +2

      Yes, the account adjustment applies to you --- you will get credit towards loan forgiveness for all months since you started repaying in 2009

    • @stanleytate
      @stanleytate  8 месяцев назад

      Thanks for pitching in @frewerza3478. More specifically, the account adjustment gives you credit after you consolidate into a Direct Consolidation Loan for all time spent in repayment, and some of the time spent in forbearance and deferment depending on how long the forbearance lasted or whether the deferment was for in school or something else.

  • @pkaseven
    @pkaseven 11 месяцев назад +1

    So I may have been skipped over… loans starting 1995. I’ve been in repayment for 95% of my loans since 2003. Consolidated 2015… am I not being forgiven 😢?

    • @stanleytate
      @stanleytate  10 месяцев назад +1

      It sounds like you have loans held by the Education Department. If so, you'll get the waiver. And that means you'll get the credit toward forgiveness. When you'll get that credit and whether it will be enough to wipe out your balance immediately or you'll still have payments to go are all unknown. But you'll get answers in the coming months.

  • @derrickpotter601
    @derrickpotter601 6 месяцев назад

    Tate, I consolidated my loans and have paid for 25 years. Does the adjustment just happen automatically? Do I have to apply for it or something?

  • @bri8175
    @bri8175 8 месяцев назад

    If one were to take advantage of the IDR waiver by consolidating their commercially based FFEL loans, and gets the consolidation on the SAVE plan, would the new SAVE plan forgiveness after 10 years count (if took out $12 K)?

  • @jojoh9343
    @jojoh9343 9 месяцев назад +2

    HI Attorney Tate. Does the count adjustment also apply if one is in Public Service? By that i mean, towards the 10 year goal, as opposed to the 20 or 25 year goal?

    • @stanleytate
      @stanleytate  9 месяцев назад +1

      Yes. The clock starts from Oct. 1, 2007.

    • @tyneriarowe7390
      @tyneriarowe7390 7 месяцев назад

      ​​@@stanleytatewhat is you are already in an IBR plan? Can the acct adjustment apply for full forgiveness with SAVE after consolidating?

  • @Eyahye
    @Eyahye 10 месяцев назад +1

    I received the email that I am eligible but my dates are spread out, I have until the end of the month to decide to opt out. Do I have to opt out if I put the consolation application in now and it is processed before the end of the month?

    • @stanleytate
      @stanleytate  10 месяцев назад +1

      I'm guessing you're saying you have more than one loan and each has different repayment periods. If so, you may want to opt in. I can't say for sure without looking at your loans. You can get my help by booking a call here: link.tateesq.com/book-call-youtube
      You can also check out our free materials on our site and on this channel.

  • @EricaSuldon
    @EricaSuldon 11 месяцев назад +1

    I am going to contact this guy. I am not sure if he can help me since I am in NJ. But I need loan forgiveness. They forgave almost $60,000. But I still owe almost $170,000. And the interest is growing and it will get back up to the $280,000 it was prior. This is crazy! I did not borrow this much money!

  • @hughcrewproductions3232
    @hughcrewproductions3232 7 месяцев назад

    Do parent plus loans or private loans qualify? My wife took one for my son. Trying to get it forgiven. Which one of these programs should I consolidate to? Is it a requirement to switch the private loan over to the Fed program, then consolidate? If so, assuming 30 April is the dead line

  • @Wakitarb1
    @Wakitarb1 6 месяцев назад

    Thank. you for this information!!!

  • @catherinekuntz8306
    @catherinekuntz8306 8 месяцев назад +2

    How do i qaulify

  • @shalimasiddiq4013
    @shalimasiddiq4013 7 месяцев назад

    Hi there! Thank you for your content! My mom took out 4 parent plus loans for me. I just heard about this double consolidation loophole to get into an IDR plan. Am I too late to consolidate in time for her to qualify for the 04/30/24 recount deadline for her loans to possibly be forgiven?

  • @adambutler6194
    @adambutler6194 10 месяцев назад

    Can we get a video about IBR (Income Based Repayment)? I keep hearing all this news on IDR but nothing in IBR. Am I missing something???

    • @stanleytate
      @stanleytate  10 месяцев назад

      They're the same thing basically, depending on how they're being talked about. IDR describes a group of income-based repayment plans. IBR is one of those plans.

    • @adambutler6194
      @adambutler6194 10 месяцев назад

      @@stanleytate but benefits and options in the marketplace for IBR versus IDR is what I am asking. Does that make sense?

    • @tyneriarowe7390
      @tyneriarowe7390 7 месяцев назад

      ​@stanleytate Hello. Ive been in a IBR for about 7yrs now. Of I took a chance to consolidate to Dept ED, and choose Save, would I be take risk and not be able to stay on where I am which is FFELP?

  • @chandayoung8102
    @chandayoung8102 10 месяцев назад +1

    Hi! I am interested in purchasing a car this year - do you think I should get the car first before putting in the consolidation application? Wondering how it will affect my credit score essentially.

    • @stanleytate
      @stanleytate  10 месяцев назад

      The consolidation process doesn't check your credit score.

  • @elizaangell6778
    @elizaangell6778 10 месяцев назад +1

    Question! Should we consolidate all commercial and dept of ed/federal loans together for forgiveness if we have received the consolidation email suggesting to do so? Will we miss out on any possible other forgiveness opportunities if we do this? I have an app in to consolidate all right now. Tysm!

    • @stanleytate
      @stanleytate  10 месяцев назад +2

      Thanks for asking. It would be super reckless for me to tell you what to do without looking at your loans. That said, please watch our content, read the materials on StudentAid.gov, and speak with your loan servicer. You could also book a call if you'd like our specific advice: www.tateesq.com/contact

    • @elizaangell6778
      @elizaangell6778 10 месяцев назад +1

      @@stanleytate Thank you!!

  • @bryantt.2831
    @bryantt.2831 7 месяцев назад

    If I consolidate my ffelp loans in default, will the debt rehabilitate in my credit report? My debt no longer appears in my credit.

    • @stanleytate
      @stanleytate  7 месяцев назад

      A new loan would show on your credit report.

  • @nazarethgalvan6270
    @nazarethgalvan6270 7 месяцев назад

    What if I only owe less than 4k. Can they forgive my past payments? I'm scared because consolidating means I will owe more???? Help!

    • @stanleytate
      @stanleytate  7 месяцев назад

      Sure, it's possible depending on your facts.

  • @Unknown-hu4gf
    @Unknown-hu4gf 5 месяцев назад

    What if you missed the deadline should you still go ahead and apply???

    • @SaxmanJRose
      @SaxmanJRose Месяц назад

      I have the same question if you’ve missed a deadlines and you’re just finding out about this information what do I do to help with the process trying to help my wife pay for student loans from 2017?

  • @sandygonzalez816
    @sandygonzalez816 7 месяцев назад

    I have 3 loans direct unsubsidized from grad school taken out in 2015. Interest rate 6.210 for two, and third 5.840. On mohela it says im on repayment pay as you earn currently on forberance and have also been on deferment. Should I consolidate? Could some of my balance be forgiven? Balance is about $30,000

    • @stanleytate
      @stanleytate  7 месяцев назад

      It’s hard to say what you should or shouldn’t do without looking at your loan history and understanding your situation. For many people, consolidating by 4/30 makes a ton of sense. But there are some people where it’s not all that helpful.

  • @chardear5824
    @chardear5824 6 месяцев назад +1

    Soooo BASICALLY If You're Reading This Today, It's Too Late 😭🤬

  • @lisag2684
    @lisag2684 7 месяцев назад

    If I consolidate, does it stop allowing me to do the idr or ibr plan?

    • @stanleytate
      @stanleytate  7 месяцев назад +1

      No. You can still do IDR plans.

  • @hs4a085
    @hs4a085 7 месяцев назад

    The IDR is asking for my spouse’s info. Are they going to affect her credit?

    • @stanleytate
      @stanleytate  7 месяцев назад

      No. Your spouse’s credit won’t be affected.

    • @hs4a085
      @hs4a085 7 месяцев назад

      @@stanleytate thank you.

  • @akellaji9828
    @akellaji9828 10 дней назад

    How can I have your personal service?

  • @catherinekuntz8306
    @catherinekuntz8306 8 месяцев назад +1

    Nelnet knows nothing. I checked I originally consolidated all my lones in 1994

  • @amandalong112
    @amandalong112 6 месяцев назад

    So I missed it twice 🤣 never fails 😢

  • @mvp019
    @mvp019 10 месяцев назад

    Can you address the "tax bomb" issue?

    • @stanleytate
      @stanleytate  10 месяцев назад +1

      We'll look to add this to our content calendar.

    • @mvp019
      @mvp019 10 месяцев назад +2

      @@stanleytate Thank you sir - glad I found your channel.

  • @patrick39432
    @patrick39432 5 месяцев назад

    I'm just completely screwed 😂😂

  • @catherinekuntz8306
    @catherinekuntz8306 8 месяцев назад

    30 years ago

  • @financialwisdom432
    @financialwisdom432 10 месяцев назад

    😮

  • @juniorbroham
    @juniorbroham 11 месяцев назад

    Does this still apply for the PSLF - for the one time wavier ? ​​⁠@stanleytate

    • @stanleytate
      @stanleytate  10 месяцев назад

      Yes. But you must be currently working in a public service job to have your balance forgiven.