Student Debt. Time Sensitive Updates Educators Need to Know

Student Debt. Time Sensitive Updates Educators Need to Know

Description:

Attendees will learn important 2024 updates on student loans that directly affect educators who have Federal Student Debt. We will cover the two major types of loan forgiveness, the differences between federal and private loans, and the IDR Waiver/One Time Account Adjustment. 

The IDR Waiver deadline is set to expire April 30th, 2024 and there are many borrowers who will benefit from this program. Many are unaware this Federal government program exists and don’t know how to take advantage of it. This program can be especially beneficial for borrowers who have multiple Federal Student Loans on different timelines. For example, someone who received an undergraduate degree and began to make payments on their loans, and then later went back and took out more loans for a graduate degree or PhD.  The IDR Waiver will also be especially beneficial for borrowers who are pursuing PSLF forgiveness and have older loans given out prior to 2010, called “FFEL loans”.  

Understanding this information is really important for folks who may be candidates for loan forgiveness through the IDR Waiver, but they don’t know it because of the confusion around the programs.

Learning Objectives:

1. Upon completion of the session participants will understand the differences between Federal and Private Student Loans.
2. Upon completion of the session attendees will understand the IDR Waiver/One Time Account Adjustment https://studentaid.gov/announcements-events/idr-account-adjustment that expires April 30th, 2024 and how that directly affects student loan borrowers with multiple federal student loans on different timelines.
3. Upon completion of the session attendees will understand the different types of student loan forgiveness including PSLF forgiveness and Long-term forgiveness.

Level: Intermediate