Window closing on student loan forgiveness - what you need to know (2024)

UPDATE: You now have until June 30th, 2024 to consolidate your student loans - all other info still applies, just new due date of June 30th. I made an updated vid you can watch here:
   • Time's running out to get student loa...  

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If you have student loans and are looking to get student loan forgiveness, whether that's through IDR forgiveness (Income Driven Repayment forgiveness) or PSLF (Public Service Loan forgiveness), you might be able to take YEARS OFF your student loan repayments by consolidating your student loans before April 30, 2024.

This is especially important for people with FFEL student loans (ie, you got your loans before 2010) and people with different payment counts on their student loans!

You could take years off your student loans because of the Income Driven Repayment recount going on. In this video I talk about how consolidating your student loans might take years off your loans and get you forgiveness MUCH FASTER! But student loan consolidation isn't right for everyone so be sure to watch through to the end.

Links/phone numbers mentioned:

⭐ Department of Education Federal Student Aid Information Center (FSAIC): 1-800-433-3243

⭐ Info on consolidation, eligibility, pros/cons: https://studentaid.gov/manage-loans/c...
⭐ Ready to consolidate? Go here: https://studentaid.gov/loan-consolida...
⭐ PSLF buyback program:
https://studentaid.gov/manage-loans/f...
⭐ IDR account adjustment information: https://studentaid.gov/announcements-...
⭐ Perkins loan cancellation information: https://studentaid.gov/manage-loans/f...
⭐ All about FFEL loans: https://studentaid.gov/articles/what-...

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"The Index Card" by Helaine Olen and Harold Pollack
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Thanks for watching!

Heads up: All the content is for educational purposes only. Ms. Moody is not a licensed financial advisor; she’s a librarian, money nerd, and educator. As personal finance is personal, to find out what is best for you, consult a financial professional. Users are solely responsible for any actions they take.

This video is protected under US Copyright law. If you would like to reuse any of it for your own work, you must have explicit permission from the creator (Ms. Moody). Please contact me for permission before using any part of the video.

Chapters:
00:00-00:44 Hello!
00:45 Should you watch this video on student loan consolidation?
1:46 - Overview of- and problems with IDR and PSLF forgiveness
4:20 - how IDR recount gives you time towards forgiveness
5:45 - What does it mean to consolidate student loans
6:41 - How consolidation gets forgiveness faster
8:24 - Is student loan consolidation during IDR Recount right for you?
10:20 - Why you maybe shouldn't consolidate?
10:50 - When not to consolidate
12:22 - Steps to take before consolidation of student loans
14:03 - Things to know before consolidating
15 - Don't wait to consolidate your student loans
15:40 - Dangers of consolidating after April 30th