What a disaster. Im on the save plan now but b4 that i was not even on the PAYE plan. I hope they give option to go back to your original plan or get an option to choose from the plans available if they get rid of Save

Dang I wish I would have known the New York Times article about administrative forbearance months NOT counting toward PSLF was incorrect, before watching this video. I asked Mohela to take me off of the administrative forbearance and resumed making payments as a result of reading that article, because I’m due to make my 120th payment under PSLF this October.

Appreciate you 😇

They capitalized the interest on my original IBR plan when I switched to the SAVE plan. The only reason I switched to SAVE was to stop the runaway balance from growing because SAVE cancels unpaid interest. I would never have capitalized my interest otherwise, since the new principal balance is way higher than my old one, and the interest rate is crazy high. I feel suicidal. What is going to happen to people who were forced to capitalize interest in order to stop the nightmare of a runaway balance?

@luarap5997

15 күн бұрын

I need to know too. I'm in the same boat...

on save plan and haven't seen a single interest subsidy payment yet. my loan balance just keep growing. also, despite the admin forbearance my loan is still accruing interest.

@user-xt2rb3no5b

18 күн бұрын

Same. This plan has been a total disaster.

Hope moving forward? Seems like alot more bad or uncertain than positive and hope

Would you please clarify this.... Is SAVE's 20 and 25 year forgiveness currently blocked as well or does the block only apply to the 10 year forgiveness benefit associated with SAVE?

@extraaccount6199

22 күн бұрын

No one knows for sure. The court's statement was ambiguous

Great information thank you!!!

Thanks for the great info

According to Project 2025, this plan and most other debt forgiveness plans will be eliminated. The next step is to wait and see who wins in November.

I’m so confused now because I received a notice from Mohela with one payment amount to begin in August and then a later notice with a reduced payment amount to begin in August (which I assume was from the injunction being lifted). Are you saying there is to be another pause/forbearance on the horizon?

I am on the SAVE plan and really just want to pay my loan bill. Why are we fighting people paying their bills. No one is getting paid while I'm in forbearance.

So for the Missouri lawsuit, is the SAVE plan completely in trouble (5% payments) or just the forgiveness part of the plan?

@extraaccount6199

22 күн бұрын

The 5% can be implemented now, but the entire plan is in trouble of being eliminated by the supreme court

I have parent plus loans under my dad and applied for SAVE in mid may and haven’t heard back. How does it effect people like me?

Hi, My student loans has all been forgiven.

@GregoryGuay

23 күн бұрын

Which program and how long did that take?

During this administrative forbearance, Should be be accumulating interest still or should interest be at zero percent right now?

What about the IDR adjustment? Do you think this will go through in September?

Do you think if we get reverted back to REPAYE we would be able to get the 20/25 year forgiveness? We are expecting after the adjustment to be at 25 years in Nov/Dec!

Is this video addressing from what happened 9 days ago? I’m confused

If someone is really close to the 20 or 25 year forgiveness when the IDR adjustment comes out, can they switch from Save to another IDR plan and get forgiveness once they reach the number of years they need for forgiveness?

@d3po455

24 күн бұрын

I'm wondering the same think as well. None of these student loan update videos will tell you if the current forgiveness block in SAVE is only for the 10 year benefit or it affects all forgiveness, 20 and 25 year as well. It's really frustrating. We need to know if we should move to another IDR where the 20 and 25 forgiveness is available. I will post the same question here.. this channel rarely answers any questions though.

@robertd6179

24 күн бұрын

Ditto! I was going to ask the same question. I consolidated an FFEL loan and I’m on the cusp of meeting the payments for forgiveness, but I heard the injunction bars any forgiveness under SAVE. So what’s the play? Switch to IBR?

@Asombrosa2Arabian1

24 күн бұрын

@@robertd6179My husband can’t switch to IBR…he makes too much. ICR is sunsetted. Once the account adjustment happens. We will be stuck unless REPAYE or ICR come back. We are looking at 25 year IDR forgiveness Nov/Dec!

@extraaccount6199

22 күн бұрын

​@@d3po455 it's because no one knows. What the judge wrote is ambitious. If it was me and I knew I had enough, I'd move to another plan

@extraaccount6199

22 күн бұрын

​@@robertd6179if it was me and I know I had enough, I'd switch. But I'm just a random person on the Internet

Thank you so much! I wouldn’t mind going back on REPAYE except now I’m married and now my spouse’s income is included in calculations 😭. I would never be ok with my spouse paying for my loans

@GregoryGuay

23 күн бұрын

Even if you file separately, they still take into account your spouses income?

@suhhyunlee9904

23 күн бұрын

@@GregoryGuayright, that’s the difference between PAYE and REPAYE. And I don’t qualify for PAYE because I have loans older than 2007

@extraaccount6199

22 күн бұрын

The only other option is old IBR if you have loans that old. They exclude spousal income

@GregoryGuay

22 күн бұрын

@@extraaccount6199 I do have an old IBR, at least 10 years old. I had no idea that in particular excluded spousal income! Married but delayed license to figure that out lol.

I'm currently doing the SAVE student loophole where I am a medical student who took out a grad plus loan for $30,000 and am about to be enrolled into the SAVE program to stop interest from accruing on my loan. I was planning to do this loophole for 3 more years while I am in school. Any recommendations you have for me?

@redpill-finance

24 күн бұрын

Pray we don’t have another dinosaur running in 2028

@extraaccount6199

22 күн бұрын

SAVE is likely to be overturned within the next year. So make sure you have a backup plan.

Regarding the SAVE plan forgiveness measures. Let's say I started paying my loan in 2010 and it was under $10,000. Would switching to the SAVE plan make my loan able to be forgiven since it is past 10 years or would be starting the 10 year clock now?

hi I was on an IDR plan with Navient for 14 years they told me the SAVE program would decrease my years left with the payment count adjustment because i also had 4 years of deferments and forbearance to switch now i switched and im worried they will not count my 14 years i already did and my payment will increase dramatically? what do you think im really worried and feel taken advantage of

So do I need to try and get on SAVE for my PPLs. I know I still have to consolidate them so I can qualify for PSLF eventually. Is it worth all the trouble attempting to go for the SAVE plan though?

@patrickmillehan6075

24 күн бұрын

Yes

If the Supreme Court does strike down SAVE, and reverts it to REPAYE. Do we think they will open up PAYE to new applicants? Interested for those who file taxes married but separate.

@extraaccount6199

22 күн бұрын

There is also IBR. If you qualify for "new IBR" it is identical to PAYE. If you borrowed before 2014? I believe, then you only qualify for old IBR. But IBR doesn't include spousal income. No one knows if PAYE will open back up

Do you think that 20/25 IDR (non PSLF) forgiveness could be struck down for current borrowers? Or would they just not allow new borrowers? If borrowers signed promissory notes with the understanding of forgiveness, don’t they stand to be harmed?

@extraaccount6199

22 күн бұрын

As a random person on the Internet who's read most of the legal information, yes every plan created under the ICR could be overturned. That would only leave IBR which was created separately. IBR does have a 20/25 year forgiveness so you'd have to go there

@Asombrosa2Arabian1

22 күн бұрын

@@extraaccount6199we do not have any financial hardship now, so we do not qualify. There’s no plan for us if that happens.

@Asombrosa2Arabian1

19 күн бұрын

@@extraaccount6199 No financial hardship here so no IBR either.

welcome to America

Glad in 2022 I put my application in when if first start got 12000 wipe out in august 2023 when this people giving out help you. Better move quick cause they change shit up quick when it comes to help for the america people but ik funding no do date money all day long