🙏 9 ways to get out of default

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Hey ,

Been in default for a while and feeling left out of all the forgiveness? I see you—it’s a tough position to be in.

So if this is where you’re at, I hope you find comfort in today’s message. And if it’s not, I’ll bet there’s something here for you too.

Let’s get into it.

• 📈 Interest has resumed on federal loans—but don’t panic

• 💸 The IRS says your employer could help pay your debts

• 💪 How to get private + federal loans out of default

• ⏰ Last chance! Register for our free SAVE plan webinar

• ⏯️ New video: watch me react to questionable legal advice on Reddit

And more…

Fix yourself a drink, and join me for this week’s update 👇

🔍 No time to watch? Here’s the low down:

• 📈Interest on federal loans started last Friday
  …and a lot of people are freaking out. But if you can’t afford your monthly payments, you can try and get yourself on a repayment plan.
  

  1. Start by seeing if you’re eligible for SAVE. It’s the most affordable plan for low-medium income borrowers.

  2. If you’re a high-income borrower, SAVE might not be your best bet. Check out the other repayment plans instead.

  
  For a closer look at SAVE + other repayment plans, come along to my free webinar this Saturday (more info below).
  

• 💸Your employer might be able to help pay your debts—tax free
  Good news from the IRS (no, really). They announced that employers can offer workers up to $5,250 tax-free annually as part of their educational assistance benefits. If your employer isn’t enrolled on this program, try encouraging them to. If you can, send them a link to this free webinar happening on September 14. Who knows? Might be worth a shot.

• 💪 Federal loans in default? Here’s what you could do:

  • Apply for the Fresh Start program

  • Consider consolidating your loans

  • Consider loan rehabilitation

  • Repay your loans, either in full or through a settlement

  • Apply for forgiveness, cancellation, or discharge

• ⚖️ Private loans in default? Here are some ways out:

  • Refinance your defaulted loan into a new loan

  • Settle the debt

  • File for bankruptcy

  
  Not sure where to start? Book a call and we can explore your options together.

• ⏰Last chance: register for my SAVE plan webinar
  On Saturday September 9, I’ll be deep diving into SAVE and other repayment plans alongside the expert financial planner, Steven Fox. Federal borrowers, you do not want to miss this.
  Register for free
  
  

• ⏯️ New video: Lawyer reacts to legal advice on Reddit 🫣
  There’s some good advice on Reddit. But there’s also a lot of trash. In this video, I debunk some dodgy advice given to real borrowers, and offer some better solutions.
  Check it out

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Thanks for stopping by, . I hope this was helpful. As always, if you want 1:1 help managing or erasing your loans, I’m right here.

Take care,

Tate