Betsy Devos: Here’s My Fix For Student Loan Forgiveness

, borrowers can now complete one form to apply for both Public Service Loan Forgiveness and Temporary Expanded Public Service Loan Forgiveness . The form also includes the Employment Certification Form.

The Public Service Loan Forgiveness program is a federal program that forgives federal student loans for borrowers who are employed full-time in an eligible federal, state or local public service job or 501 non-profit job who make 120 eligible on-time payments over 10 years. Borrowers also must make a majority of their student loan payments while enrolled in an income-driven repayment plan.

In May 2018, the Department of Education announced $700 million funding for TEPSLF. The program provides student loan forgiveness for borrowers who sought public service loan forgiveness, but were rejected because they selected an ineligible student loan repayment plan. To qualify for TEPSLF, student loan borrowers previously needed to pursue PSLF to receive student loan forgiveness. To qualify for TEPSLF, a borrower needed to be denied for PSLF because some or all of the student loan payments were not made under a qualifying income-driven repayment plan. If a borrower was denied, the borrower then had to apply via email to FedLoan Servicing, a student loan servicer, for TEPSLF. Now, the Education Department has streamlined the process.

If you want to pay off student loans faster and save money, consider student loan refinancing, which can save you substantial money in interest payments. With , you combine your existing private student loans, federal student loans or both into a new, single student loan with a lower interest rate and one monthly payment. To qualify, you’ll need at least a 650 credit score and enough monthly income to cover your living expenses and debt payments.

This plan is dogshit

PersFin Happy to hear borrowers are getting more guidance. Not all borrowers can pay the debt off quickly. But for those who can manage it, I encourage them to pay off the debt as soon as possible rather than wait 10 years. Build wealth

Like we can believe a word she says!

like raise their interest rates about 50% .

It’s Betsy. Can’t be anything good.

Yep, she’s trying to help people now. I trust her this far...

Yeah... ok 🙄

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Education Dept. Unveils Fix For Student Loan Program's 'Bureaucratic Nightmare'The Education Department says it will simplify the process for student loan borrowers to apply for an expansion of a troubled loan forgiveness program. In 2019, a watchdog found 99% of applicants were turned away during the expansion program's first year. Don't think the problem was from an over-complicated process but rather bad faith in the creation of the system for the program to maximize revenue for the lenders that back and are friends of Billionaire Betsy. Forgiveness for the 1%. That's Trump-style. It’s clearly not the process. People have cleared the process. It’s the forgiveness part that’s missing at the end.
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The complicated beauty of student debt forgiveness, according to the CEO who cleared the loans of nearly 400 Morehouse gradsIn May 2019, Robert F. Smith, founder and CEO of private equity firm Vista Equity Partners announced that he and his family would give $34 million to pay off the student loans of nearly 400 students. At the 50th World Economic Forum in Davos, Switzerland, Smith spoke with CNBC about the economic and philosophical principals behind his decision. MakeIt Did he just make them to pay some extra tax later, tax equal to that value they got for free from someone ?
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Navient Owes Feds $22 Million Says Elizabeth WarrenSenator Elizabeth Warren (D-MA) says Navient, a leading student loan servicer, owes the federal government $22.3 million Eric Ciaramella is the whistleblower Call them every day and remind them they are behind on a payment. Klobuchar: “First thing we do, kill the Batman.”
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Senators To CFPB: Why Are You Still Failing To Protect Student Loan Borrowers?Democratic lawmakers sent a letter to the director of the nation's top consumer watchdog agency demanding that the Consumer Financial Protection Bureau do its job supervising the student loan system. Senators should do their job🙄 Betsy Devos is the biggest trainwreck the Education Department has ever seen. She isn’t qualified, in any way, to be the Secretary of Education. That’s not my opinion, that’s fact. Because there are a lot of people on Capitol Hill as well as B. Devos and her friends that are making way, way too much money on the backs of American kids to give a damn.
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