Student Loan Forgiveness: What to Know

Student Loan Forgiveness

Chances are you’ve heard in the news about recent student loan forgiveness. 

Over the last 15 years we have watched as clients with federal student loans have struggled to understand their loan repayment options, been denied for qualified public service loan forgiveness, and dealt with compounded interest often leaving their loans with a higher balance despite ten or more years of repayment. 

To say the student loan system is broken is an understatement and we are glad to see that some changes being made in an effort to fix it. 

The IDR waiver

Part of these efforts include something called the “IDR waiver”, which is one of the most beneficial things people have ever been able to take advantage of to put them closer to, or even qualify them immediately for loan forgiveness. 

But understanding the IDR waiver…and honestly ANY of the details of the federal student loan system is….complicated. 

So complicated that despite being in the world of personal finance and staying on top of the latest information even we don’t fully understand all of it. 

Which is why we have brought in our friend, David Gourley. 

David is a dedicated financial planner for teachers through Teach Plan Retire and a Certified Student Loan Professional (CSLP). Over the last few years he has been able to guide educators towards over $12 million in student loan forgiveness.

With all of the questions and confusion surrounding the newest rounds of student loan forgiveness, we wanted to bring in a student loan expert to help.

We highly recommend you listen to this episode of the Financial Coach Academy podcast* to learn more about what is happening in the world of student loans and what you can do to see if you can qualify for early forgiveness.

*The Financial Coach Academy podcast is our podcast geared towards training other financial coaches to do this gratifying work. While the content is geared towards helping other coaches understand what is happening in the world of student loans, this episode contains very important information and we think you should have it too.

Understanding the full student loan landscape is complex.

Of course, as your coaches we are happy to answer any questions we can, but we also know where and when to ask for help from a specialist and this is one of those times!

You can reach out to David directly for a student loan consultation or you can find other Certified Student Loan Professionals by using this directory

If you are uncertain about whether or not you might qualify for student loan forgiveness, or if you should consolidate some or all of your loans, or any other number of things that might impact your ability to qualify for loan forgiveness we HIGHLY RECOMMEND you speak to a student loan professional. 

Some of these options are currently scheduled to end April 30th, 2024 so don’t delay in taking action!

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