Jul 5, 2022
Washington may be headed into summer vacation doldrums, but for student loan borrowers now – more than ever – is a time to stay alert and informed! I’ll start with a deep dive into a proposed settlement in the Borrower Defense to Repayment lawsuit (known as Sweet v. Cardona), outlining the origins of the class action and who stands to receive forgiveness from for-profit schools that marketed through fraudulent means. I’ll also give you the latest updates on where PSLF and IDR waivers stand, and why a big announcement related to the student debt pause will likely occur in the next month. Then, I’ll wrap up with announcements about Student Loan Planner's exciting new webinar initiative and program changes coming this fall.
In today’s episode, we’re covering:
- What’s it all about? A little background on Sweet v. Cardona
- What it means that it’s a “proposed” settlement (and not yet finalized)
- The major issue at hand: Should those who were defrauded by scam for-profit universities be forgiven their government loans?
- What to do if you’ve already applied for Borrower Defense and what to do if you haven’t
- Updates to the PSLF waiver even though a final decision hasn’t yet been made pending determination of executive authority
- Why I anticipate a big loan announcement in late July/early August
- Why people are missing out on $50 billion or more available for forgiveness
- How to get in on our newest initiative of free online info sessions to any groups or associations interested
- Changes in pricing our pricing structure starting September 1st
- A recap of refinancing and where it stands right now for borrowers
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