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Discharge, IDR, and Closed For-Profit Schools

Today I took questions from the audience. Topics include bankruptcy discharge, IDR and growing balances, and a bit about closed for-profit schools. . . .
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CARES Act, Biden, and Defense to Repayment

Updates on student loans via the CARES Act, Biden's forgiveness proposal, and Defense to Repayment applications to be processed. . . .
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Student Loan Protection under the CARES Act

Today I discuss CARES Act protections for student loans, which loans qualify, and also point out an important issue with IDR recertification. . . .
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COVID-19 Stimulus Package: Video Q&A

Today I answered questions regarding the Stimulus Package as it relates to student loans. . . .
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Covid-19 Stimulus Package: FFEL Loans

What is an FFEL Loan? An FFEL (Federal Family Education Loan program) loan is a federal student loan that was originated (funded) by an entity other than the US Education Department (USED). It could be a bank or a credit union (Sallie Mae, Chase, Wells Fargo, etc.), or even a guarantee agency . . .
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Covid-19 Stimulus Package: Perkins Loans

What is a Perkins Loan? A Perkins loan is money given by your school. It is considered a Federal student loan because the money was given to the school by the US Education Department (USED). The school lends the money, owns the loan, may hire a servicer to collect when the loan is in good standing . . .
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Covid-19 Stimulus Package: Direct Loans

What is a Direct Loan? A Direct Loan means the money was borrowed Directly from the US Education Department (USED). No middleman. The loan will always be held by USED. When in good standing, a servicer helps USED collect by sending bills and offer affordable payment plans and/or forbearance and . . .
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Covid-19 Stimulus Package Help Based on Student Loan Type

The stimulus package has lots of facets, including student loan protections. The question you might be asking is, “How will it help me, the student loan borrower?” The real question should be DOES it help you, the student loan borrower. Because guess what, the stimulus does not help all student loan . . .
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COVID-19 Update Video

If you'd like to read some specifics discussed in this video, please check out the blog for those with loans in good standing or the blog regarding defaulted loans. . . .
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Covid-19 and Student Loans – Update

Today, March 25, 2020, the US Education Department (USED) rolled out protections for defaulted loans. It's quite simple. No more collection activity on defaulted loans held by USED. As I said in my previous post on this subject, loans held by USED are Direct Loans and some defaulted FFEL loans that . . .
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