Some very useful information about the federal student loan SAVE plan:
https://thehill.com/homenews/education/5414542-education-department-student-loans-ibr/
Changes coming to federal student loan programs and repayment:
Bankruptcy can sometimes resolve student loan issues.
https://www.wwltv.com/article/news/nation-world/social-security-garnishment-student-loans/507-a3fdd46f-8d07-497d-aa5c-631fe53c80e7
In January, the Department of Education added new information to studentaid.gov showing borrowers their progress toward being debt-free through Income-Driven Repayment (IDR) plans. With the changes, borrowers could log into their accounts on studentaid.gov and see an IDR progress tracker showing how many months of qualifying payments they had made in IDR. They could also see how many more years and months of payments they would need to make beforr they would be eligible to have any remaining loan balance cancelled. However, recently it seems that the federal government has removed some information from government websites, and this IDR progress tracker could be removed at any time. Borrowers may want to save this information while they can, in case it is removed from their accounts.
https://studentloanborrowerassistance.org/collection-of-defaulted-student-loans-to-begin-soon-what-borrowers-need-to-know-now/
https://www.cnn.com/2023/07/14/politics/student-loan-relief-biden-administration/index.html
https://www.cnn.com/2023/07/12/politics/student-loans-save-plan/index.html#:~:text=Under%20the%20new%20SAVE%20plan,time%20a%20borrower%20must%20pay
https://www.nerdwallet.com/article/loans/student-loans/idr-waiver?fbclid=IwAR0v9xYaCH81Jo6snkWhkpZMXS7iDABvBmvAZt0QVqgOb8BLBhfWmK0L1AE
https://www.myneworleans.com/best-lawyers-new-orleans/?fbclid=IwAR3pexaGER91MLECFE2ryVs-SJCa0-xSIQHTP5kAf4ZzyPXb3_3sSrh8uQY
Updates on the one-time $10,000/$20,000 student loan debt cancellation application:
Student Loan Forgiveness: Here are some useful links and information. These apply only to FEDERAL student loans, not private. 1. Through October 31, 2022 (coming up!) you can apply for a special waiver to apply past periods of public service employment (basically, government or non-profit) toward the 10-year public service loan forgiveness program, even if you were not making payments. So if you have some years of public service under your belt but didn't get approved or weren't making payments, you may as well get those counted. It seems like government employers are being particularly helpful in assisting employees and former employees to get these forms completed and signed. You can find more detailed information here about what types of employment and loans qualify: https://studentaid.gov/articles/take-advantage-pslf-waiver/ 2. At some point before the end of the year (the student loan payment pause has been extended through December 31, 2022), you will be able to apply for cancellation of either $10,000.00 or $20,000.00 of your federal student loan debt, if your income is below $125,000.00 (or married couple below $250,000.00). If you were a pell grant recipient you would be eligible for the $20,000.00 cancellation. The regulations on this have not yet been released, so there are many open questions (what will the income period be? how will you apply? will you have to go back 30 years to find records of your pell grants? etc.). So we'll have to wait and see on a lot of this. More information can be found here, as well as a link to sign up for email notifications from the Department of Education: https://studentaid.gov/debt-relief-announcement/
Information about the new student loan cancellation plan, and the temporary Public Service Loan Forgiveness waiver (which ends this October 31st) can be found here:
https://thehill.com/policy/finance/3610940-larry-summers-says-white-house-shouldnt-extend-student-loan-payment-pause/
IMPORTANT: If you have previous public service or non-profit employment that would qualify you for forgiveness of your FEDERAL student loans, but you didn't make your payments, weren't enrolled in income-based repayments, or had trouble qualifying before, you may be able to get your loans forgiven (or at least get credit for employment periods) through a temporary waiver. But you only have a couple of months left to apply: "Time-limited changes to Public Service Loan Forgiveness (PSLF) Program rules allow borrowers to receive credit for past periods of repayment that would otherwise not qualify for PSLF. The changes end on Oct. 31, 2022."
https://www.nola.com/news/education/article_98ec8860-14cf-11ed-951b-2b9a341eb438.html?utm_medium=social&utm_source=nolafb&utm_campaign=snd&fbclid=IwAR1V_qjG_1XOI7VPWDhocpxVT3f6W-Sc6OXylQr5bHwZLEakRM_3jsvCF5M
Pres. Biden has signed the S. 3823, the “Bankruptcy Threshold Adjustment and Technical Corrections Act"--which increases for two years the debt limit for individuals filing for bankruptcy under Chapter 13 (i.e., the wage earner's plan) to $2.75 million and allows both secured and unsecured debt to count towards this single limit. (Currently, separate limits apply to secured and unsecured debt.) https://www.whitehouse.gov/briefing-room/legislation/2022/06/21/press-release-bill-signed-s-1097-s-2520-and-s-3823/?fbclid=IwAR2zSTFZx1uVD7y_vy7DaSqw7SLEEUYdyHN_liKS0dBHPrAAJwapPDTd8kY
https://www.businessinsider.com/student-loan-industry-failed-american-dream-promise-first-generation-2022-3
US Department of Education to provide assistance to borrowers in income-driven repayment plans who were in forbearance for certain periods of time. https://studentaid.gov/announcements-events/idr-account-adjustment?fbclid=IwAR2opYIAF2_Z2kp68UHWtgQfAW0HGmo53_fKSmAbCFUeW_4gop_kL0_vhjI
https://www.marketwatch.com/story/50-billion-of-student-debt-could-be-wiped-away-in-bankruptcy-report-says-11642702222
https://www.bizneworleans.com/louisiana-borrowers-to-receive-27m-in-settlement-with-navient/?utm_medium=email&utm_source=rasa_io
https://www.cnbc.com/2022/01/13/student-loan-processor-navient-to-cancel-1point7-billion-in-student-loans-.html?fbclid=IwAR2i4NoOtpKCuyQUq05HHwBOvr-l77bWZ4y2GjTTRmxv9FWv1t2-as9SO-I
https://www.cnbc.com/2022/01/03/dont-count-on-that-tax-refund-yet-why-it-may-be-smaller-this-year.html?utm_term=Autofeed&utm_medium=Social&utm_content=Main&utm_source=Twitter#Echobox=1641216248
https://www.forbes.com/sites/zackfriedman/2021/12/07/no-biden-wont-extend-student-loan-relief-again/?sh=3bfa2c75431b
https://abcnews.go.com/Business/wireStory/loan-forgiveness-offered-itt-tech-students-79659627
https://www.businessinsider.com/student-loan-debt-relief-service-members-waived-interest-cordray-education-2021-8?utm_medium=email&utm_source=rasa_io&PostID=36171994&MessageRunDetailID=6236803389
https://apnews.com/article/business-louisiana-education-louisiana-state-university-bc47c8abde0a485e2765876903f91c5c
https://www.forbes.com/sites/adamminsky/2021/08/19/biden-to-automatically-cancel-58-billion-in-student-loans-for-over-300000-borrowers/?sh=73f3cc144870&fbclid=IwAR2Ni7VTs9UDJUqq4wI-wPARUCIJ9P_3-zNJ-Fy-JWf4SLg1VKaSz7SyWKQ
https://www.bloomberg.com/opinion/articles/2021-08-12/to-curb-student-loans-let-them-declare-bankruptcy?fbclid=IwAR1klXI4dCma43g4wR4ksilrXmjUq2fJJzwi-tpSaV13noG7-OAZgkSUjQY
Explanation of monthly Child Tax Credits starting July 15th, and how to protect them https://library.nclc.org/starting-july-15-protecting-monthly-child-tax-credit-payments-creditors?fbclid=IwAR3BYtvHeVidyd7Qr5OkjyjSsyr4TCZsIvw70XY-UOhJ_7DofXuYncLNo1c#content-2
https://www.reuters.com/world/us/exclusive-us-watchdog-adopt-mortgage-moratorium-rule-with-some-exclusions-2021-06-22/
https://www.reuters.com/legal/transactional/scotus-declines-review-texas-womans-student-loan-discharge-denial-2021-06-21/
https://www.msn.com/en-us/news/us/what-richard-cordray-bidens-student-loan-czar-has-said-about-canceling-debt/ar-BB1glFP3?ocid=uxbndlbing
https://finance.yahoo.com/news/warren-bankruptcy-student-debt-161841090.html
https://www.cnbc.com/2021/03/03/45-billion-in-rental-assistance-may-soon-be-available-how-to-apply-.html?fbclid=IwAR1cY7b5JVKeXX2kuKWGUTZEOHPQyNyd9uwLT3tzeRtVMPZorBu7zFP9sHo
A great resource on homeowner protections related to the Covid-19 pandemic
https://www.forbes.com/sites/adamminsky/2021/02/03/senators-unveil-sweeping-bill-to-discharge-student-loan-and-medical-debt-in-bankruptcy/?fbclid=IwAR1IQDOQ5DHrCx41Ft9Mz2iN7cEw5kigx9PtND8FYLauuQdJ1ig4j7iLER8&sh=69fca3925d02
Foreclosure moratorium through March 2021; federal student loan forbearance through September are among the executive orders signed yesterday.
