🎓 Confused about forgiveness? Read this.

Stanley Tate
June 12, 2024

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Welcome to the 83 new readers this week! They've joined 16,039 readers getting B.S-free student loan news.

Hey friends,

It’s been a big week for student loans. Here’s what we’ve got.

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😵‍💫 Confused about forgiveness?
I know it’s hard to keep up with all this forgiveness news. So I refreshed this article, outlining the key facts about every forgiveness program*. I’m going to aim to update this regularly, so bookmark it for later.
Get the guide
*Want to know how to apply for forgiveness? Read this instead

🚨 Update: Navient stops consolidating. Now what?
Last week, I told you that Navient stopped processing consolidation applications. And naturally, a lot of you had questions. So this week I wanted to clear things up.
See what this means for you (13:02)

🙏 An update on the SAVE lawsuits
There are two lawsuits against SAVE right now. Luckily, the first one isn’t doing so good—last week, a judge ruled that only 3 out of the 11 states filing the lawsuit have any standing. So good news for SAVE then, right? Well, there’s another lawsuit. And that one is alive and on track to do some damage.
Hear my predictions (04:19)

📉 Monthly payments will drop in July
For 8 million borrowers, July may mark the start of a significantly lower monthly payment. For some, student loan payments could be slashed by 50%.
Find out who gets it (06:30)

😬 Will you be taxed on your federal forgiveness?
To be clear, none of you will have to pay federal taxes on your forgiveness*—at least not until the end of 2025. But state taxes might still apply.
Read more
*If you got a 1099-C (Cancellation of Debt form) read this

🌪️ Some states launch natural disaster forbearances
A few clients in Texas and Oklahoma were granted payment pauses recently due to natural disasters in their states.
How to know if you’re eligible

🎓 What happens when students graduate debt-free?
Five years after a class at Morehouse College got their debt paid off by a generous billionaire, CBS caught up with them to see how they’re doing. And shocker, they’re doing great. They’re able to buy houses, start businesses, and start families without lenders breathing down their necks.
Hear my take (09:35)

🗣️ Q&A Fridays: What happens to your loans when you die?
It’s a question no one wants to think about. But last Friday, we tackled it head on—and the answer might surprise you.
Watch the discussion

(Almost) every week, I answer your questions in a Q&A video. Got one for me?

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Thanks for making it this far! I’ll see you again next Wednesday.

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Take care,

Tate