Is Everything Blocked Now? | Student Loan Questions Answered

The IDR and loan consolidation applications are down, repayment plans are shifting, and court rulings are throwing everything into question. If you're feeling stuck, you're not alone. Learn why the Department of Education is reworking the IDR and PSLF applications, what this means for your loan strategy, and how to make smart decisions despite the chaos. We'll also tackle listener questions about PSLF timing, repayment plan changes, and what potential policy shifts could mean for your forgiveness path.

Key moments:
00:00 Introduction
04:38 What the court ruling means for PSLF and ICR borrowers
07:16 Will my loans be forgiven? I’m two payments away from forgiveness and not IBR eligible
14:51 Is my income too high to qualify for financial hardship?
19:24 Do my Parent PLUS loans qualify for PSLF forgiveness?
23:06 What is the student loan “tax bomb” and will I have to pay it?

#StudentLoanPlanner #StudentLoans #StudentLoanForgiveness #DepartmentOfEducation

[tangocash]

Thank you Travis for these updates. I can tell you are fed up with the current political circus just like the rest of us. You are a trooper.

[powerxkx]

I was coerced to leave Navient to move my loan over to Student Aid that works with PSFL and would help me get enrolled in the program. Once I transferred, the provider told me I made too much for any forgiveness. This was a lie to keep me paying on the loan and for them keep collecting their fees. Once Covid hit and Biden came into office things shifted. I got approved and now have about 8 months left until PSFL is complete. You answered all my questions through other questions. Thanks

[aurora]

I’m just so tired of being a pawn in the games rich people play.

[mateocafe]

What angers me is that the Administration won't let folks recertify their income who are already on IBR. IBR was passed by Congress in 1993, so I don't see how this is even legal.

[vanyanorth]

My salary is 53, 000 and my AGI is about 45-47k. My student loan debt is 95k. This is considered a partial hardship for IBR, right?

[JonHulett]

I'm hearing from insiders who have family members at services that all services have started to put people who are already in process with IDRs into automatic administrative forbearance.

[Jborgzz]

29:24 not sure I agree.

Check the terms of your master promissory note. Seems pretty clear assignment is forbidden, and payments must be made to the Department. If there’s no department to receive payments………

[H-uo]

How can someone switch from SAVE to IBR if the options are grayed out on the website?

[ross]

I have 6 student loans. Last month I reached 120 payment for 4 of them in February. Fed student aid PSLf tracker has me at 120 payments and says congratulations.
Today the 120th payment for the other 2 loans go out today. I’m gonna submit ECF and say a prayer.
I think it will be ok, what do ya’ll think?

[Foxy_foxy]

I be chilling sipping with no loans, no income, no savings, and zero dollars at 21 fresh out of college rn. No skin in the game

[steven_king]

So wait, if all IDR/IBR goes away— and I have 200K+ in student loans… am I going to be paying like 50% or more of my paycheck now to pay that off??

[lhaas]

Do you have any thoughts on the buy back program and its safety in upcoming months once they reopen the ibr plan? Thank you for what you do!

[brainspout]

Any advice? How do I get the lowest monthly payment possible? I don't care about forgiveness, I don't even care how much I end up paying when this is over, I just need a low monthly payment so I can survive month to month.
Anyone with advice would be greatly appreciated.

[H-uo]

The lack of empathy this administration has towards student loan borrowers is astounding.

[Healinghearts]

Please answer this question!
I was sent a letter by ED Financial stating that I do not need to recertify my IDR PLAN (currently in SAVE Plan) until 10/2026! Is this TRUE….? I hope so! Please help!!🥺

[Trenton.D]

The court wasn’t angry. They were going to try to strike all of these plans regardless. Sometimes you’re naive to think all this is coming from good-faith arguments

[mapguy]

30 years of precedent means nothing. Roe V Wade proved precedent means nothing.

[zenawarrior]

At 8:20, my advice to her is to not touch anything with her loans bc IBR is NOT available and wait. Maybe start saving for first payment.

[unmnps]

Hey Travis, are you seeing servicers utilize 2024 W2 data for income certification even if you haven't filed 2024 taxes yet? My wife has a listed payment that makes me think that may be the case

[cystalmoonlight]

I think SAVE was put forth knowing it would fail.