Listen Up Class, Part 2: Teachers Are Struggling, What is Wrong?
Student Loan Help Group Blog
by TSLHG
2y ago
In part one of our article, we discussed some of our teachers’ problems today. These issues include salary, a lack of support and training resources, and safety concerns. However, the list of challenges educators face is far more extensive and may not be as publicly well known. These self-perpetuating problems lead to faulty decision-making, diminishing education quality, and putting children’s safety at risk. Numbers Before Education: As economist Milton Friedman once said, “One of the greatest mistakes is to judge policies and programs by their intentions rather than their results.” For edu ..read more
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97% of Public Service Loan Forgiveness applications are denied. We are here to help.
Student Loan Help Group Blog
by TSLHG
3y ago
According to the Department of Education, over 97% of Public Service Loan Forgiveness (PSLF) applications were denied in the last quarter of 2020. The main reasons PSLF applications are denied: Incorrect qualifying payment count Missing information on the forgiveness application Ineligible loans that don’t qualify for PSLF Ineligible employers that don’t qualify for the program These are all preventable mistakes that our expert counselors will help you avoid. Why leave your forgiveness up to chance by submitting your own applications or relying on your servicer to properly guide you through ..read more
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PSLF breakdown
Student Loan Help Group Blog
by TSLHG
3y ago
Student loans are a popular topic in the news these days. You may read about a few different proposals, but there is nothing definite yet. We want to explain an available program that can forgive all of your student loans if done correctly-Public Service Loan Forgiveness. Here is the definition by the Department of Education of Public Service Loan Forgiveness.“PSLF forgives the remaining balance on your Direct Loans after you have made 120 qualifying monthly payments, under a qualifying repayment plan, while working full-time for a qualifying employer.” Let’s break down how this works: PSLF fo ..read more
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How Many Borrowers Are In The Queue To Get Forgiveness?
Student Loan Help Group Blog
by TSLHG
3y ago
There is a lot of confusion surrounding Public Service Loan Forgiveness’s criteria and how many people have actually received it. Here are some key points: There are three main requirements to qualify for PSLF: Direct student loans Qualifying repayment plan Certification of employment at an eligible/qualifying employer When PSLF was established: PSLF went into effect on October 1, 2007. So, if you started making qualified payments on day one, the earliest you could have seen your loans forgiven would have been October 2017. How many borrowers are in the queue to receive forgiveness? The numb ..read more
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The three options for repaying your Student Loans.
Student Loan Help Group Blog
by TSLHG
3y ago
When it comes to Student Loans, you only have three choices to get rid of them, but if you feel that what you have been doing so far is not moving you fast enough towards your goal. Take a look at the options available. Pay them off with accrued interest.  No surprises there, right? You could do it by making fixed monthly payments for 10 to 25 years (Assuming that you don’t use a single month of forbearance or deferment). Another choice is Graduated payments which go up every two years for the same 10 to 25 years, and you will pay even more interest (Like they are not collecting enough al ..read more
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Should I consolidate my loans?
Student Loan Help Group Blog
by TSLHG
3y ago
The answer is dependent on your circumstances. First: What is consolidation?   Consolidation is the process of combining one or more loans into a single loan. PROS: Consolidation decreases the number of loan servicers and monthly loan payments you make each month by giving you a single loan with one loan servicer with only one monthly bill. Your monthly payment amount can lower by consolidating your loans and lengthening the period of time (up to 30 years) to repay your loans. If you consolidate loans other than Direct Loans, you may have access to additional income-driven repayment ..read more
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Forgiveness programs.
Student Loan Help Group Blog
by TSLHG
3y ago
The Student Loan Help Group delivers high level counseling for all repayment options and forgiveness programs available through the Department of Education for the Public Service workforce. Here is an overview on the two most popular programs available: Teacher Loan Forgiveness: Under the Teacher Loan Forgiveness Program,you may be eligible for forgiveness from $5,000 up to $17,500 on your balance if you: Have 5 consecutive years teaching in a title 1 school. The loan(s) for which you seek forgiveness existed before the end of your five academic years of qualifying teaching service. You must ..read more
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