วีดีโอ

“Worrying is paying interest on a debt you might not even owe.” Mark Twain My grandmother kept a copy of this quote in the kitchen. I didn’t understand it as a kid. I didn’t fully understand it until I had student loans.

Excellent video. I just learned that my employer offers a Roth 401k. I plan to get married in the next two years but was only aware of Roth IRA options to prepare for the potential tax bomb. If you’re married and file taxes separately, you cannot contribute to a Roth IRA. I didn’t think that I’d have any options to save for the tax bomb until I I discovered that my employer offers a Roth 401k. A Roth 401k does not have the limitations based on amounts and tax filing status that a Roth IRA has. I think a video explaining the difference would be helpful, as I didn’t become aware of the difference until recently. Thank you

I love watching these podcasts. As someone who has pets its nice to get to know veterinarians behind the scenes.

❤

'Promo sm'

I graduated in 2004 with an undergraduate and master’s in business. Both are federal loans serviced through NelNet. I have Ben paying on-time since 2004. Still own 48,000. Used the graduated payment program. I’m 64 and income has been drastically reduced. My ears perked up when you said one time forgiveness till December 31 2023. I’m not a vet but would appreciate your input!

Am Stephen in ug more interested in Animal husbandry wen

Am so greatly to joining this foundation

Great video. I have been in repayment since 2008 since graduating Medical school and have worked in public service with all my employers being qualified employees since 2008. My loans were FFELP loans and I recently consolidated with MOHELA (after learning about the one time account adjustment and missing the old 10/31 waiver deadline). All loans are now direct. I submitted my entire history 15 year history of qualifying employment via the PSLF help tool which has been accepted by MOHELA. Will the one time adjustment and switching to IBR still fall under the 120 payment count for PSLF count (since I have made more then 120 payments previously) and lead to forgiveness of my remaining (63k). I just heard about the 250-300 payment requirement but am unsure if this will apply to my situation. Any guidance is very much appreciated. Thanks for all that you do.

"Borrowers with original principal balances of $12,000 or less will receive forgiveness of any remaining balance after making 10 years of payments, with the maximum repayment period before forgiveness rising by one year for every additional $1,000 borrowed. For example, if your original principal balance is $14,000, you will see forgiveness after 12 years. Payments made previously (before 2024) and those made going forward will both count toward these maximum forgiveness timeframes." Do you have any clarification on this? What if all my original loans were less than $12,000 but I have old FFEL loans so I consolidated all my loans into 1 direct loan to take advantage of the one-time payment adjustment which would put over me 10 years of payments but less than 20 years of payments. Does the consolidation put me back on the 20 year forgiveness since my consolidated balance will be $72,000 or since all my loans that were consolidated had less $12,000 original balance will that get me forgiveness at the 10 year level?

Is there an easy way to figure out with the one time adjustment how many payments with the other adjustments they are including as well like time in forbearance so you can find an accurate measure of how long you have until forgiveness? I have loans from the early 2000's(FFEL loans). I am trying to figure out how they calculate how close I will be too forgiveness after consolidating to a direct loan. How do I accurately measure everything that would be considered qualifying payments?

This is just terrible advice

He explains it very well. Except I did not need to write each loan separately , my loan were there already.

Hi, I am not in the veterinary world but your video is the only information I can find anywhere about this upcoming one-time payment count adjustment. I have asked my loan servicer and the Dept of Ed this question and neither can answer it: I have had a federal student loan since 2002. I spent a considerable amount of time in forbearance, deferment, and being seriously past due in repayment programs so i am nowhere near the 240 payments required for the normal forgiveness. Will the forbearance and deferment, and the time I was technically in "repayment" be included in this one-time payment count adjustment? If so, it would seem that my loan will be forgiven since I have had it for 21+ years. Any input is appreciated.

What do u do when u have a 25 yrs old loan from a school that was closed down. I have 5 loans now that the department of education sent me a discharge letter. Now edfinancial has put it on my credit wtf. From 1987

Bless you!!!

Thank God for you!!!! You saved me waiting on hold for 2 hrs with the studentaid site.

I don't understand why my new interest rate is double my current. I have 2 commercially owned and serviced unsubsidized FFEL loans from Navient. They are both at 3.44% (which makes the weighted average still 3.44%). When I go to consolidate and select them from the checkboxes and look at the bottom black box, it says my new interest rate will be 6.875%. I don't understand why it doubled. Isn't it supposed to take the weighted average and round up to the nearest 8th of a percent, not outright double it.

Good stuff... You talked about the importance of the payment plans.. but then didn't describe what each of those are. that woulda been helpful. but you were going over a lot so understandable.

Do I have to consolidate unsubsidized and subsidized loans Separately?

Visit the VIN Foundation COVID-19 Impacts to Student Loans page for up to date information on student loan repayment relief: vinfoundation.org/coronavirus-impact-to-student-loans-covid-19/ If you're graduating veterinary school in 2020, check out the Class of 2020 Student Loan Repayment Playbook page to register of a free webinar: vinfoundation.org/resources/class-2020-veterinary-student-loan-playbook/

This was helpful thank you so much

Helpful links to navigate student loans during COVID-19 changes: VIN Foundation Student Debt Center: vinfoundation.org/studentdebtcenter VIN Foundation Student Debt Resources:vinfoundation.org/resources/student-debt-center/ VIN Foundation Blog: vinfoundation.org/blog/ Federal Student Aid Website: studentaid.gov/ Department of Education Press Release, 3/20/2020: www.ed.gov/news/press-releases/delivering-president-trumps-promise-secretary-devos-suspends-federal-student-loan-payments-waives-interest-during-national-emergency Navient COVID-19 Information: navient.com/covid-19 Great Lakes COVID-19 Information: mygreatlakes.org/educate/covid-19.html FedLoan Servicing: myfedloan.org/borrowers/covid

Update from the Department of ED: www.ed.gov/news/press-releases/delivering-president-trumps-promise-secretary-devos-suspends-federal-student-loan-payments-waives-interest-during-national-emergency

Super helpful resources

👍👍💉💉📚📚