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The Law Office of Rachel Thyre Vogeltanz, LLC

7 months ago

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/…

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:
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The Biden-Harris Administration's Student Debt Relief Plan Explained

studentaid.gov

New one-time student loan cancellation to be granted based on income; and student loan payment pause extended through Dec. 31, 2022

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The Law Office of Rachel Thyre Vogeltanz, LLC

7 months ago

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: ... See MoreSee Less

The Biden-Harris Administration's Student Debt Relief Plan Explained

studentaid.gov

New one-time student loan cancellation to be granted based on income; and student loan payment pause extended through Dec. 31, 2022

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The Law Office of Rachel Thyre Vogeltanz, LLC

7 months ago

https://thehill.com/policy/finance/… ... See MoreSee Less

Larry Summers says White House shouldn’t extend student loan payment pause

thehill.com

Former Treasury Secretary Larry Summers on Monday cautioned the Biden administration against extending the moratorium on federal student loan repayments and knocked “unreasonably generous stu…

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The Law Office of Rachel Thyre Vogeltanz, LLC

7 months ago

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://studentaid.gov/announcements-events/… ... See MoreSee Less

Federal Student Aid

studentaid.gov

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The Law Office of Rachel Thyre Vogeltanz, LLC

7 months ago

https://nola.com/news/education/… ... See MoreSee Less

If you’re a public school teacher, you may be able to have your loans forgiven with new waiver

www.nola.com

Deadline to apply using the waiver is Oct. 31.

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