Servicers Fired, PSLF Changes, and a New IBR Plan
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It\\u2019s been quite a week for student loans. Navient and FedLoan, two of the biggest student loan servicers have thrown up their hands and said, \\u201cWe\\u2019re out.\\u201d Listen in as I explain what\\u2019s happening with student loans right now. I\\u2019ll also talk about the timeline for the servicer transitions and what it might mean for you. I\\u2019m excited about what some of these changes can mean for our clients, but I\\u2019m also cautious. So, buckle up and let\\u2019s get started.
In today\\u2019s episode, you\'ll find out:
- Why I\\u2019m worried even though the changes could be good
- Why TEPSLF created more problems than it solved
- The role of the CFPB in servicer accountability
- My theory about why Navient quit federal student loans
- Why I\\u2019m concerned about Maximus servicing student loans
- The awesome changes to PSLF the Biden administration is proposing
- How you might get PSLF even if you don\\u2019t have qualifying loans
- Why a process called negotiating rulemaking is a big deal
- How short- and long-term fixes can benefit you
- What to expect in the coming months and over the next few years with student loans
Links mentioned:
National Student Loan Data System (NSLDS)
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