(Ep. 227) How Congress Could End the Student Loan Pause and Cancelation
In this episode, I’m diving into some PSLF regulations that specifically affect physicians in California and Texas. Many of them work for for-profit companies that serve nonprofit hospitals, and the new rules coming out in July 2023 could have a big impact on PSLF eligiblity. Next up is another listener's situation regarding consolidating Parent Plus Loans with graduate school debt. We'll also be covering some Parent Plus strategies that can be beneficial for parents.
I’ll also be jumping into the exciting world of Congress and their possible plan to repeal the student loan pause and cancellation. Don't worry, I'll break down what this means for borrowers and what happens when President Biden blocks it. Plus, we'll explore the Congressional Review Act and some juicy details of the ongoing student loan lawsuits.
In today’s #StudentLoanPlanner episode, you'll find out:
✅ The confusion among borrowers that led to the low success rate of the PSLF waiver
✅ Why student loan debt cancellation faced legal challenges, but the PSLF waiver did not
✅ How the PSLF waiver widened the racial wealth gap
✅ The difference between PSLF and IDR waiver
✅ The biggest determining factor on the success of the IDR adjustment
✅ Why the student loan cancelation plan is entirely political
✅ The importance of the 12/36 rule
✅ What it takes to get transformational savings on your student loans
✅ How modifying an existing income-based repayment plan can be dangerous
#StudentLoanCancellation #StudentLoanPause #StudentLoanForgiveness