One of the most common questions recently asked by veterinarians in student loan repayment using any of the income-driven repayment plans (IBR, PAYE, REPAYE, ICR) is “When do I need to provide my income information again? Is it before the special pandemic forbearance benefits end? Is it after? How do I know?”
Student Debt Q&A from students The following are questions asked during recent Climbing Mt. Debt sessions with 3rd year veterinary students at U.S. colleges of veterinary medicine. They will be graduating in 2024, likely facing an updated student loan repayment framework. With all of the recent changes to federal student loans (current and pending), repayment …
Student Debt Questions & Answers – from 3rd year veterinary students Read More »
Federal student debt proposal would change REPAYE, phase out PAYE Buried in a sea of federal student loan announcements and changes over the last few years was the promise of a new income-driven repayment plan. It was first mentioned in August at the same time as a one-time cancellation of up to $20,000 in debt …
Changes are coming to income-driven repayment: Updates to REPAYE, PAYE and ICR phased out Below is a the comment I plan to submit to the Department of Education on the proposed changes to income-driven repayment. I encourage you to review the changes that we have detailed here. Consider how the propsed changes will impact your …
Comments to the Department of Education on proposed IDR changes Read More »
What a crazy busy year in the world of student debt! It appears some of these changes and opportunities to possibly diminish your debt and shorten your repayment period will continue into 2023. As you’ve probably heard by now, on November 22nd the Department of Education announced another extension of the pandemic forbearance benefits for federal …
Common questions and concerns around the most recent student loan announcements
Attention 2020, 2021, and 2022 veterinary graduates with student loans! You have some special homework to maximize all of the recently announced benefits. If you have federal student loans and you graduated into the pandemic forbearance period, here are the things your graduating classes need to know and perhaps DO soon to ensure you take …
Class of 2020, 2021, 2022 Income-Driven Repayment Renewal Note Read More »
Special time-limited expansions to PSLF Public Service Loan Forgiveness (PSLF) is a compelling student loan repayment benefit for many veterinarians, but understanding the rules for this program can be a challenge. Borrowers must be an employee of a federal, state, tribal entity or 501c3 nonprofit while using an income-driven repayment (IDR) plan to repay their federal …
Have you ever worked for a nonprofit? Act fast to benefit from the Limited PSLF Waiver Read More »
On August 24th, 2022, the White House announced the news of a special one-time cancellation of up to $20,000 of federally held student loan debt. The amount of debt cancellation will depend on your income and whether you received a Pell Grant in college.
Don’t miss out on this special one-time forgiveness count adjustment opportunity. There is a natural temptation to tune out all of the complex rules and regulations around federal student loans and repayment. With confusing repayment plan qualifications and ever-changing, time-limited expansions for existing borrowers, no one would blame you for ignoring the latest and greatest …
Got Federal Student Debt? You’re Now Closer to Forgiveness Than You Think Read More »
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