🤑 More forgiveness is coming (private + federal)

Author

Stanley Tate
June 05, 2024

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Welcome to the 77 new readers this week! They've joined 15,956 readers getting B.S-free student loan news.

Hey friends,

Here are the top student loan stories from the past week.

  • ❌ Nelnet stops accepting consolidation applications (video)

  • 👀 Former MOHELA worker exposes poor training (link)

  • 💸 The SAVE attacks continue (link)

  • 🤫 Navient (quietly) forgives private loans (link)

  • 🧑‍🏫 New Mexico launches teacher forgiveness (link)

  • 🌞 California launches student loan assistance program (link)

  • 🗣️ Q&A Fridays: Help! My child won’t pay his loans (video)

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

  • ❌ Nelnet stops accepting consolidation applications
    So any new loans you consolidate will be handled by Aidvantage from now on. This change happened on May 17, but there was no announcement. I only found out by chance. So what does this mean for you? For single consolidations, it’s not a problem. But for double consolidations, it could complicate things.
    Here’s what you should know

  • 👀 Former MOHELA worker exposes poor training
    The former agent claimed that the servicer actually had a policy of keeping customers on hold for 15 minutes before transferring them to a supervisor. Unsurprisingly, MOHELA denied everything.
    Hear my take (03:37)

  • 💰 More attempts to block SAVE
    Last month, an Attorney General in Missouri filed a lawsuit against SAVE, with the help of seven other state reps. And on Monday morning they argued their case in court, claiming SAVE was never authorized by Congress.
    Here’s what I think (06:11)

  • 🤫 Navient is cancelling some private loans
    …and they haven’t really publicized it. The program (called ‘school misconduct charge’) gives private borrowers the chance to get their loans forgiven. It’s kind of like the Borrower Defense Program, but for private loans.
    Find out how to qualify (09:16)

  • 🧑‍🏫 Many teachers in New Mexico get forgiveness
    This one’s exciting. Eligible teachers are going to get up to $6,000 in debt relief annually for two years. The program is designed to support licensed teachers working in high-need fields and schools.
    Learn more (11:18)

  • 🌞 California launches a student loan assistance program
    The Student Loan Empowerment Network has been designed to help California borrowers navigate the messy world of student loans. So if you’re based in The Golden State, definitely check that out.
    Read more

  • 🗣️ Q&A Fridays: Help! My child won’t pay his loans
    Last Friday, we gave Tim and his wife strategies to protect themselves after their son stopped paying his student loans. Sound familiar?
    Watch the video

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

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Take care,

Tate