Will Student Loan Programs Change in 2025? What Borrowers Should Know

[@youtubeuniversity3638]

I'm at the point I'm tempted to just assume I'm automatically screwed and behave as if my days are just numbered...

[@AllAboutTheJoy]

Right there with you. And I worked directly with Stanley to put my loans into SAVE so... yeah, I agree with you.

[@kimmc626]

@@AllAboutTheJoyyou need a redo.

[@AllAboutTheJoy]

@kimmc626 Not one lie told. Thank you friend. 😔

[@Jackson-e4k]

Can always move abroad and just never go back to the states. Or just go all in on crypto and pray for 100x

[@youtubeuniversity3638]

@@Jackson-e4k Too expensive.

[@plow511]

Again y'all have given more clarity on this than anything I've read thx!

[@Robier1447]

They have two years of majority rule in all three areas of government. They can screw this up a lot.

[@Vanya2519]

I have a question if anyone here can answer it. I have 79 out of 120 PSLF payments and am in the SAVE forbearance. I want to switch to the IBR payment plan and I do qualify. I am told that they are not processing any applications right now, including the IBR applications, and that my best course of action right now would be to stay where I am in the SAVE forbearance. I can go ahead and apply for the IBR payment plan, but it won’t be processed and again. I am being encouraged to stay the course in the forbearance. Is anyone else debating whether they should stay in forbearance or switch to IBR? Give the reasons for your answers.

[@Pjm-028]

IBR is SIGNIFICANTLY more monthly for me so I am waiting to see if I can revert back to a cheaper monthly payment before committing to IBR and doing a million payment plan switches

[@KaiBrown38]

I am in the same boat and have applied for IBR. I’m 84/120 payments in. I’m missing significant time in the PSLF program because of the forbearance. Very frustrating. I’m prepared to pay the higher payments, but Mohela isn’t processing the application.

[@jacobekker]

I'm in the same boat. I heard a rumor that when payments resume, you can "buy back" previous months as long as you were working with a qualifying employer in the months you buy back.

[@Vanya2519]

@@jacobekker only if buying back those months completes the 120 payments in your PSLF application.

[@tray99847]

What about tbe 20 year loan forgiveness under SAVE?? What options steps should you take if you filed tbe complaint?

[@spbennett88]

SAVE is done. The only ways to actively work towards loan discharge at the moment is through PSLF after 10 years, or through IDR forgiveness after 20 or 25 years, but you need to be on the IBR plan for the IDR forgiveness. This may change with future court rulings, last minute program implementations of the current ED administration (e.g., the one-time IDR count adjustment), and future GOP installed IDR plan(s) that may allow for some type of forgiveness, but no one really knows at this point.

[@CrazyCat23637]

My husband is 77 and still has $20K outstanding in student loan debt from the 1990’s. Keeping my fingers crossed that the one-time payment recount will still happen! I want to use the freed-up money to do more fun stuff together before he kicks the bucket!

[@AlbatrossWhisper]

He will kick the bucket before anything like that happens. Do fun stuff now. The government shouldn’t dictate how you spend your life

[@Jackson-e4k]

Don’t wait. Live your life. 77 is knocking on eternities door.

[@nikkibonnet672]

Is the one time accoutn adjustment still happening? I am not hearing anyone talk about this and I wonder if any of the recent court judgments have blocked this?

[@boatnerjg]

I find myself in the situation where I consolidated my loans while on the save plan in order to get the most out of the one-time adjustment. I did so at the end of May/ beginning of June. So I know I met the deadline which was the end of June for consolidating to get the most out of the adjustment. I had 8 to 9 years of credits worth of payments, and stood to potentially get anywhere from two to four additional years after the adjustment. Adjustment. Is there any scenario where I would be stuck with another 25 years of payments and not get any kind of adjustment, or at least the credits back for what I had paid?

[@gif24gt60]

Save the SAVE!

[@MysticElevation]

What do you do if you haven't started payment yet but need an income-based repayment plan? Where do you start? With your current lender?

[@Drogonsden]

Does a past ffelp loan holder have a claim for promissory estopple and detremental reliance if the were induced to consolidate large loans to receive the account adjustment benefits and qualify for the Save program payments, but now have large capitalized loan interest and likely unaffordable payments under IBR without the certainty of forgiveness.

[@lynnsumski9085]

When are they going to start offering any kind of relief for us parents plus loan holders who are now retired

[@saubadoo]

I applied and was accepted to SAVE but last month MOHELA said they moved me back to IDR. They also said that $11k worth of interest had been capitalized and added to my principal b/c I applied for SAVE. Now that I'm back on the IDR that $11k is still part of my principal, despite never having benefitted from SAVE. Has anyone else experienced this?

[@Crazysugarmarie]

Yes i see i am no longer in the SAVE program and i dont know why

[@czgator9000]

@@Crazysugarmarie Republicans filed suit to overturn the SAVE Act and it is tied up in court with participants now in forbearance.

[@lekoman]

How likely do we think it is that ED under the new administration is going to walk back the Art Institutes discharges? Or do we think it’s more likely they’ll just slow roll it forever?

[@dragonwatter]

any suggestion for a person on the save plans who after years out of college has never been able to find a job that pays enough to be able to make student loan payment whos save plan plan payments were zero?

[@czgator9000]

Income based repayment in whatever form still take the federal poverty level into account. That is unlikely to change other than annual revisions to the poverty level so that should keep your payments low if in any sort of repayment plan based on income. Just pay attention to whatever Dumpsters minions plan to switch SAVE to so you can apply to the best available option they come up with. IBR plans are based on 150% of the Federal Poverty Level (FPL), SAVE plan uses 225%.

[@tocinoamericano]

Once your debt worries are gone you will have plenty of other things to worry about.

[@AndronicusKomnenos]

What happens to your college loan debt if you die?

[@velissalewis5321]

I just looked it up. It said the loans are discharged but a copy of death certificates needs to be provided

[@cherylsmith950]

My repayment plan is to only pay the minimum I have to and then just kick the bucket. Hell I’m 73 and still owe $16,000. I live on social security and am disabled. No way can I finish paying that off and I’m not getting an ulcer over worrying about it.

[@KaiBrown38]

@@cherylsmith950Please don’t worry.

[@cherylsmith950]

@@KaiBrown38 I’m sure trying not to.