🤔 Should I even pay my loan bill?

Welcome to the 309 new readers this week! They've joined 10,039 readers getting no B.S. student loan news.

Hey ,

This week was big. We hit 10k subscribers 🍾

So if you’re new here, welcome! Every week, I share hot takes on student loan news, tips on lowering your monthly bills, plus secret lawyer loopholes your lenders don’t want you to know about.

Alright, let’s get into today’s stories:

• 🙏 Biden’s forgiveness “plan B” moves forward

• ⚖️ Should I pay my bill while I wait for forgiveness?

• 😲 Employers to “match” student loans with 401k payments

• 🎓 Which colleges have “no-loan” policies?

• 🎤 A call for client success stories

• 🗳️ A poll for Parent PLUS borrowers

And more…

I’ve got my Coca Cola (that I wish was bourbon) on the go. Fix yourself a drink, and hit play 👇

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

• 🙏 Biden’s forgiveness “plan B” moves forward
  Biden’s second attempt at student loan cancellation moved forward on Tuesday, kick-starting a first round of negotiations. We don’t know who’s eligible for this forgiveness—yet. We do know it won’t be as broad as the one that was shot down by the Supreme Court in June. I’ve got some contacts on the inside so when I hear more, you’ll be the first to know.
  
  

• ⚖️ Should I pay my bill while I wait for forgiveness?
  This question is on a lot of y’alls minds. Here’s my take:

  1. If you have an affordable monthly payment under an income-driven plan, go ahead and pay it. If you’ve got enough credit to get your loans forgiven, you’ll get the money refunded later.

  2. The second option is to take a forbearance.

  3. And the third option is to take advantage of the on-ramp which lets you skip payments without any financial repercussions for 12 months.
     
     

• 😲 Employers to “match” student loans with 401k payments
  From 2024, employers will have the option to 'match' student loan payments as if the loan payments were 401(k) contributions. This is huge. Of course it’s optional, so employee demand will be a big driver to make this happen. Talk to your employer about it. Or if you’re considering a job switch, look out for this killer perk.
  

• 🎓 Which colleges have “no-loan” policies?
  Roughly two-dozen schools now have “no-loan” policies, meaning they meet 100% of an undergraduate’s need for financial aid with grants, not student loans. Read the full list of colleges here.
  

• 🎤 A call for client success stories
  Whether you’ve worked with me 1:1 or tackled your loans with tools from this newsletter—people are literally crying out to hear your story. So many borrowers feel alone and ashamed, and hearing about someone who escaped their student loans could be life-changing.
  
  

  So if you are willing to give some hope to our readers (either on or off camera), please apply to share your success story.

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That’s all we got for you today, .

I hope that was helpful. And remember: if you ever need help handling your loans, I’m right here.

Take care,

Tate