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Hi! You have to work for any qualifying organization or organizations for 120 months. Thanks for watching! -k

Hi! I recommend calling NelNet and talking to one of their representatives, be sure to take notes on everything they say, who you are speaking with etc. Let them know your situation and that you plan on going for PSLF and want to get on the lowest monthly payment that qualifies for PSLF (it’ll probably be SAVE - make sure you are on an IDR plan) Seems very strange you’re getting one quote from one site and another from another site!😕 I also STRONGLY recommend sending in a PSLF application yearly to get your payments qualified and this will let you know if you meet all the qualifications or if you need to make some adjustments. Good luck and let me know how it goes! -k

@@themoneylibrarian thanks, so we came arose the fact that our loans were not consolidated, today we submitted the application for consolidation based on SAVE plan from iadvantage-which ultimately will go through Mohela, and is there anything we need to do?

Hi! You can’t do much until the consolidation is through. Once that’s complete, make your payments and then send in your PSLF form every year. Good luck and thanks for watching! -k

Hi - congrats on the new degree!! If you work for a public school or non-profit, you can have your loans forgiven in 10 years via PSLF (see my vid here for more details czcams.com/video/XrJ0D_uIn-I/video.html ) If you don’t qualify for PSLF and want to get rid of your loans as soon as possible, I’d get on an IDR plan (prob SAVE) but pay what you would on the 10 year (or more) every month - and be sure to specify that you want the overpayment put towards the principal not your next payment. The reason for this is in case something happens where money gets tight, you have the option to pay less but you’ll still be paying off your loans super fast. If you do PSLF, do not overpay! Whatever your balance is at the end of 10 years will get forgiven so there is no reason to try to pay it down. Good luck in your new career and thanks for watching! -k

Hi - yes, too many students graduate with very burdensome debt. This is one of the reasons why the new SAVE plan is so helpful for many Thanks for watching! -k

Hi! This would be great! I did a quick search and didn’t see another extension, can you provide a link? Thanks and thanks for watching! -k

Thanks for watching!

Thanks for the input and thanks for watching!

Thanks and thanks for watching!

Hi! Yes, he does do a lot of good for people, my issue is that personal finance is just that - personal. What is great advice for one situation is bad advice for another. Thanks for watching!

@@themoneylibrarian I would be curious to know what advice of Dave Ramsey's you feel is "bad advice" I mean, you could call anyone's advice bad for some reason right? but does that really make it bad advice functionally or truthfully bad? i dont think so. .

Thanks for watching!

Thanks for watching!

Thanks for watching!

Hi! I believe you can choose French as the closed captioning option but don’t have any student loan resources for you in French. Thanks for watching and good luck! -k

Hi - all payments after October 2007 are eligible as long as you meet all the PSLF criteria. There is no “limit” as such, but you do have to work more than 30 hours a week on average for the month. Good luck and thanks for watching! -k

@@themoneylibrarian thank you so much for your quick response! I truly appreciate the information.

Ha! You aren’t the first to ask! I wear prescription glasses but when I film they get a terrible glare so I got the same pair online and took out the lenses. Thanks for watching! -k

Thanks for the kind words and thanks for watching! -k

Glad you enjoyed my nerdy humor! Thanks for watching!! -k

Oh no!! Sorry to hear this, with how much changes all the time in student loans 🤞 they extend this program. Keep an eye on the news or this channel to stay up to date. Good luck and thanks for watching! -k

@@themoneylibrarian You definitely got my sub, I never watch the news.

Hi! Yes, the news changes so fast with student loans it can give you whiplash. I’ve been traveling the past couple weeks when the court case came though. Will do a video on the updates once I get my head around them. Thanks for watching! -k

Hi! There’s been some lag, do what’s best for you! Thanks for watching! -k

Hi! You can see your loan details at studentaid.gov If it still says FFEL then you probably want to consolidate to turn it into a Direct Consolidation Loan before the end of the month otherwise you’ll lose your payment history and restart the forgiveness clock😩. Definitely call your servicer as they can give you personalized help. Thanks for watching! -k

Hi! Sorry to hear this!! With the IDR recount you should be getting closer to forgiveness - def call your servicer and see what you can do to speed this up! Good luck and thanks for watching!! -k

@@themoneylibrarian Thank you for your response and advice.

Thanks for watching! -k

Hi! Yes, you can make bigger payments, just be sure to mark them as going to the principal as the default is to apply all extra payments to the next months payment. I strongly recommend you watch my updated video as this one is old and doesn’t include the SAVE plan which is often your cheapest monthly payment: Which student loan repayment plan is right for you - EXPLAINED! czcams.com/video/SfuPciHkT1k/video.html Good luck and thanks for watching! -k

Hi! I go into the reasons you may want to consolidate in the vid, you may want to call your loan servicer to chat about your particular situation to see if it would be advantageous for you. Thanks for watching! -k

@@themoneylibrarian Thank you!

Hi! It depends on your situation, some people will need to consolidate in order to be considered a part of the IDR recount and get forgiveness - why I always say to call the loan servicers to ask about your particular situation! Thanks for watching! -k

Hi! If your loans have different amounts of time in repayment you may want to consolidate so the new loan has the longest payment history and is that much closer to forgiveness. Contact your loan servicer as they can tell you all the ins and outs. Thanks for watching! -k

Hi! The website doesn't take the Art Institute ruling into account when calculating forgiveness; only the math of your payments so that forgiveness won't show up there. Here is a link with other links that goes into the details of this ruling that may help you: studentaid.gov/announcements-events/borrower-defense-update If your loans are a part of this settlement, they should go into administrative forbearance, meaning you owe $0 a month. You may want to call the Department of Education to confirm all your loans are a part of this settlement and you may be able to get them put into forbearance while on the phone if so. If all your loans are not a part of this settlement, you may want to consolidate them before June 30th so they can get forgiven via IDR forgiveness since you've had them for so long - ask the Dept of Ed if consolidating loans that are part of the settlement with loans that aren't a part of the settlement if that will keep them from being forgiven via the Art Institute lawsuit. You can talk with your loan servicer for any other help with consolidation. YOU GOT THIS!!! Thanks for watching! -k

Hi! Whether or not you should consolidate can be genuinely confusing!! It isn’t for everyone, I lay out the reasons why you may want to consolidate in the vid, if you still aren’t sure I recommend you call your loan servicer and speak with them. Thanks for watching! -k

Hi! I recommend looking up your employer on the pslf site to see if they qualify: studentaid.gov/pslf/employer-search If your loans are eligible for PSLF then it may benefit you to consolidate the undergrad and grad loans if they have different pslf-qualifying repayment periods. For example if you have 60 months of qualifying repayments for your undergrad and 12 qualifying for grad then by consolidating your new loan would have 60 qualifying payments, thereby eliminating 4 years of payments from your grad school loans. I recommend you call your servicer or the dept of education and ask them about your situation before making any moves. As for your $0 payment, that gets updated yearly based on income and family size so it may change every year. Thanks for watching! -k

Ha! I'm cheering your adulting on, even if you're maybe not so pleased with this effect! It's possible your credit score can take a temporary hit. It should bounce back in time. If you need to raise it, I made a video with some great ways to juice the system so you can increase your score: czcams.com/video/bkgVuuO8Flc/video.html Thanks for watching! -k

Thank you so much!! I’ll check it out now!!

Hi! Are you referring to the fact that after 7 years of non-payment they drop from your credit report even though you still owe the money? This is certainly one strategy for dealing with student loans but not an ideal one since you still owe the money 😬 . As always, personal finance is personal and people will need to do what's best for them, thanks for making this important point! -k

Hi! Thank you for your kind words, so glad to hear this video reached you and you appreciate the mathematical breakdown of paying off debt. I wholeheartedly agree that the snowball method can be very powerful and sometimes it is in a person's best interest to get rid of small debts before working on an emergency fund so they can free up the cash flows. As always, personal finance is personal and people will need to do what's best for them in their own situation. And I LOVE an "unplanned expenses" line in the budget, this is a great idea for people who like to plan for every dollar but need the flexibility this line item would give. Thanks for watching! -k

Hi! This is my understanding as well - when you consolidate you also select a repayment plan at the same time. Thanks for sharing your experience and thanks for watching! -k

Hi! Yes, if you combine the loans the recount will apply to the new loan but be careful - it’ll abide by the rules of grad loans, the most notable being IDR forgiveness in 25 - not 20 years. Like I mention in the vid, know why you want to consolidate your student loans before consolidating them - and definitely call your student loan servicer or the dept of education before consolidating so you know the benefits and drawbacks before hand. Thanks for watching! -k

Hi! That’s great!!!! Thanks for the update! -k

Thanks!

Hi! I would think so but recommend you use the help tool here to look up your employer: studentaid.gov/pslf/ Thanks for watching! -k

Hi! Only if the FFEL loans are still in repayment can you consolidate them all - but if they’ve been forgiven, there is no FFEL loan to include with your Direct loans. 😢 I don’t want you to think of yourself as “screwed” - you took the best option available with the information available. I suggest you call the Dept of Ed and talk to them as they’ll be able to look at your account and might be able to help you. Good luck and thanks for watching! -k

Hi @soh1975! I'm so sorry to hear what a burden these student loans have been for you <3 The government should be covering the interest currently accruing while you're paying $0 on the SAVE plan but there's been some hiccups in the rollout and some people are reporting the payments haven't gone through, unfortunately, it sounds like you're in this group. If your loans are 40 years old, they should be forgiven on SAVE very soon but I don't know how the Fresh Start program factors into this - I'd call the Dept of Ed what they can tell you about your timeframe for SAVE forgiveness. (with your COPD they have an online chat option you can find here: studentaid.gov/help-center/contact ) As for your credit report, I recommend taking a look at your credit reports at annualcreditreport.com to make sure everything there is correct, your student loans are showing up as being paid, and to check that there isn't something else wrong on it that's dropping your score. If you do find mistakes, you can work on getting them corrected and this will hopefully increase your score. Lastly, the only thing I can think of to help with your homeowners insurance is to get quotes from other agencies and see if they can offer you a better deal. I hope this helps, my heart goes out to you and my fingers are crossed your loans are forgiven soon! Thanks for watching and let me know how it goes! -k

Hi! I think there’s been some issues with the rollout. Unfortunately I’ve heard a few people mention this one - I’d call your loan servicer and ask them what’s going on. Take good notes! Chances are, they’re just waiting on the payment. Once their payments come through regularly, you can try this method of overpaying before the next billing cycle. Thanks for watching and good luck! -k

Thanks!!😊

Thanks for watching!

Hi! Thanks - always doing what I can to help people make better, more informed, money decisions! Thanks for watching!! -k

Hi! If you do consolidate, everyone's payment count drops to "0" initially, but this gets updated within a few months - don't worry about that but definitely take screenshots and get documentation of your payment history before you consolidate on the very off chance something gets lost in the transition. PSLF, unlike a lot of the other student loan forgiveness that's been in the news recently, is federal law, passed by Congress in 2007 and would require an act of Congress to stop it. It is highly, highly unlikely it's going anywhere anytime soon (which isn't to say that isn't possible, it's just extremely unlikely) so I wouldn't worry about that. If you have one loan with three years of payments before getting forgiven via PSLF and other loans with many more years before forgiveness, this consolidation would make all the loans get forgiven in three years. I recommend calling the Dept of Ed to double check this is what will happen and they can also talk you through all your repayment options (for PSLF you'll need to be on one of the IDR plans. if you do want to get PSLF, it's wisest to go with the one with the lowest monthly payment - see my vid here for more: czcams.com/video/gGX7WOwjMjo/video.html ) Hope this helps and thanks for watching! -k

Hi! That's a great question; I've heard conflicting stories. Some say it's a weighted average, some say the entire new loan takes on grad school rules. I recommend you call the Dept of Ed and ask them - and would love to know what they say as others will want to hear. Thanks for watching and good luck! -k

Hi! There may be benefits but it'll depend on your whole student loan situation. I'd call the Dept of Ed and ask them to look at your file and see what benefits (and drawbacks) there could be by consolidating. Thanks for watching! -k