Everything you need to know about the 2023 IDR Account Adjustment

Подписаться 12 тыс.

Просмотров 6 тыс.

50% 1

Here's a huge forgiveness opportunity that I don't want you to miss out on.
The Biden Administration has begun implementing the Income-Driven Repayment Account Adjustment, a temporary initiative that can provide substantial retroactive credits toward a borrower's 20- or 25-year income-driven repayment (IDR) term. The Education Department expects that millions of borrowers will progress closer to student loan forgiveness through this initiative, with tens of thousands potentially receiving a full discharge of their debt.
In this video, I'll tell you all about Biden's new student loan repayment plan. Including how to qualify for it.
ADDITIONAL READING
Want a deeper dive? Read our blog post on IDR Waiver Account Adjustment: How to Qualify for Forgiveness available here: www.tateesq.co...
TIME STAMPS
00:00 Intro
00:10 What is the IDR Account Adjustment?
00:35 How does it work?
01:27 Who is elegible?
02:53 When does it start?
04:22 Outro
NEED HELP?
👉 Book a call: link.tateesq.c...
👉 Get our newsletter: link.tateesq.c...
CREDITS
Hosted by Stanley Tate
Produced by Marc Vilarnau
Edited by Marc Vilarnau
Motion graphics by Marc Vilarnau

Опубликовано:

15 авг 2024

Ссылка:

Скачать:

Готовим ссылку...

Добавить в:

Мой плейлист

Посмотреть позже

Комментарии : 37

@Sonnylintag Год назад

Thank you for not taking an hour to explain this.

@josephmuszik3020 Год назад

Thank you Mr. Tate. It is in my heart to get in touch with you. I will sign up for 100% SSI on May 15th, 2023. My loans have aged 40+ years. I want to 100% eliminate this stressful burden. It’s a huge dark cloud of anxiety and depression. I did not graduate medical school. I’ve never defaulted on any of my loans. I want to enjoy my remaining years of life without this burden of $487K+. God bless you sir.

@kimmacdonald6207 Год назад

Excellent review! Thank you for clarifying it simply. Much appreciated!

@tiffanysteen1845 Год назад

This process of waiting is what stressful but thank you for being clear and precise. Im under Pslf but had some jobs that didn’t qualify under that waiver but hope to get those forgiven under IDR. I consolidated in 2008 under Pslf and again in 2014

@MelissaGarza Год назад

I got my email yesterday from the Dept of Education. Can't wait to see what will be forgiven!

@stanleytate Год назад

Congratulations!

@antoinetbd8016 11 месяцев назад

Me too on July 14th..

@MelissaGarza 11 месяцев назад

@@antoinetbd8016 they forgave all my loans! Biden for the win!

@antoinetbd8016 11 месяцев назад

You relived a huge amount of anxiety for me..I was on Graduated plan....I got my email last Saturday at 425 AM weird time..but im happy.....thx man...for real

@MYTMIC Год назад

Your vid is one of the best on the subject, too bad many haven't viewed it. Which means many will likely miss this opportunity.

@johnhowardesq Год назад

AES jammed me into a 2 yr forbearance, but I’m already past 25 years. 27.5 years now. I’ve been in ICR or repaye since 1,/ 1996. I just filed a complaint to see if they notice mine as low hanging fruit and just end them.

@TinaLanda 9 месяцев назад

So if we thought we were already consolidated but it’s a FFEL consolidation we still have to consolidate again….. is it too late?

@lisaf7688 Год назад

Thank you!!

@stanleytate Год назад

You're welcome!

@robynmcmurray6002 9 месяцев назад

I have FFEL loans consolidated with Navient I have been paying since 2008. I went to the Dept of Ed website in order to apply for the consolidation in order to take advantage of this adjustment, but the payment will be more than I am currently paying with Navient. I paid for my loans all through the pandemic, and I don't want to risk losing out on any forgiveness, but I don't want to pay more while waiting for the government. What makes sense for me?

@user-gx4yo9wt2z 10 месяцев назад

Will this apply to current payments? For example if I decide to go into 12 months of forbearance after hearing about this, those 12 months should count for PSLF correct?

@Iofflight78 Год назад

Is it possible to get your loans out of default with Navient by consolidating and having that period of time credited towards forgiveness?

@slipnorris5882 Год назад

I have consolidated loans from 96-97, I should qualify for the IDR waiver right?

@lilyfucsia25 Год назад

Should I sumbit a PSLF form dated Oct 31 2022?

@lisalister8002 11 месяцев назад

Question - Forbearance and deferment - This channel is reporting that each month in forbearance and deferment will count. However, some other YT channels are reporting that "after" 12 consecutive months or 36 culminative months they will count.. So which is it?

@stanleytate 11 месяцев назад

Each month in forbearance counts so long as you have a forbearance that last 12 straight months or more or 36 months or more collectively. If you don't have either, you can submit a request for reconsideration to the Ombudsman.

@hi-xd8wk 11 месяцев назад

Do you have to consolidate loans from undergrad and graduate in order to have forbearance years counted? I only have direct loans and have never consolidated before

@stanleytate 11 месяцев назад

If all of your loans are owned by the Education Department, you don't have to conoslidate to get the credit. But it can be helpful in some situations. Consolidating could increase the credit you get under the IDR Waiver.

@YouthTeacher Год назад

Thank you for the great information! Thankfully, I consolidated my old FFELP loans to a Direct Consolidated Loan this past August. I signed up for the standard repayment plan. Do I have to enroll in an IDR plan to qualify for the waiver? Thank you!

@stanleytate Год назад

You may need to swtich to an IDR plan if you're updated payment count is short of the number of payments needed for forgiveness.

@YouthTeacher Год назад

Thank you for your answer. Your shared knowledge is appreciated and a great help.

@MYTMIC Год назад

@@YouthTeacher Yes, you have to be IDR to continue beyond the waiver period

@izzybelle9337 Год назад

Do I only consolidate the loans that aren't qualifying for PSLF OR must you consolidate ALL loans? I'm scared of consolidating/messing with my loans that are counting towards PSLF. Also, what type of loan do you select on the consolidation?

@stanleytate Год назад

I'm afraid I would need to see your loans to know what you should or shouldn't do. It's a case by case answer.

@sabrenamartin9370 Год назад

Hello. My husband and I have never filed our taxes separately. I’m the only one who has student (FFEL) loans. I want to consolidate them, but if we were to file separately for 2022, will I still qualify for the New IDR Plan? If my husband does sign my consolidation, will it affect his credit score?

@stanleytate Год назад

I can't answer that question without looking at your loans. You can schedule that type of session using this link: calendly.com/tateesqllc/review-folk