📚 In this enlightening interview, Sonia Lewis, known as the "Student Loan Doctor," delves into the complex world of student loans and forgiveness programs. With her expertise, we explore a range of crucial topics that are vital for borrowers, parents, and students alike. Here's what you'll discover in this must-watch episode:
1. **Complete Discharges for 560,000 Borrowers**: Understanding the Borrower Defense Discharge and how it impacts borrowers.
2. **Deadline Alert**: The critical date of October 1st, 2024 for student loan payments resumption and the penalties for missing it.
3. **Election Year Promises**: Anticipating increased student loan forgiveness during this election cycle.
4. **Missed Opportunities**: A look at why 9 million people missed out on student loan forgiveness.
5. **Debt and Relationships**: Does student loan debt transfer to your partner?
6. **Broad Forgiveness Programs**: How the government's wide-reaching student loan forgiveness criteria can benefit nearly everyone.
7. **Consequences of Non-Payment**: What happens if you default on your student loans.
8. **Loan Types Compared**: The differences between Federal and Private student loans.
9. **College Costs Insights**: Estimating the funds required to send your child to college.
10. **Bankruptcy and Student Loans**: New possibilities for including student loans in bankruptcy filings.
11. **Credit Score Impact**: How student loans can affect your credit score.
12. **Biden's Forgiveness Groups**: Exploring the five groups eligible for Joe Biden's student loan forgiveness program.
13. **Family Financial Planning**: The importance of parents discussing scholarships with their children.
14. **Government Limitations**: Why complete student loan forgiveness may not happen.
15. **Community Strategies**: The need for better student loan strategies in the Black community.
16. **The SAVE Plan**: How this plan is set to assist many with student loans.
17. **Scholarship Applications**: The importance of applying to all available scholarships.
18. **Caution with Parent Plus Loans**: Understanding why these loans may not be the best option.
🔍 Dive into this comprehensive guide with Sonia Lewis to navigate the complexities of student loans and discover effective strategies for managing and forgiving your debt. Whether you're a student, a parent, or a borrower, this interview is packed with essential information and tips to help you make informed decisions.
#StudentLoans #FinancialEducation #DebtManagement #SoniaLewis #LoanForgiveness #EducationFinance #StudentDebt #BorrowerDefense #StudentLoanDoctor #FinancialStrategies1:0
01:00 Intro
4:25 Bidens Loan Forgiveness Breakdown
6:24 Glitch Causes 9 Million Students to be Excluded from Forgiveness
8:20 How to Apply for a Complaint
12:02 Troy’s Personal Experience Applying for Teacher Forgiveness
16:01 Qualifications to apply or Bidens Loan Forgiveness
19:30 SAVE Program
22:45 Borrowers Defense Forgiveness
26:45 What Sonia’s Business Looked Like During Covid
32:06 How do Interest Rates work on Student Loans?
33:06 Federal vs Private Loans
35:08 Is The Degree worth the Debt?
41:25 Does Carrying Debt Impact Relationships?
44:25 Defaulting on your Debt
47:29 How Much Money Do You Need to Go to college?
48:30 Can you File for Bankruptcy on Student Loans?
52:22 Would it be Beneficial For All Student Loans to be Forgiven?
57:21 How Taxable Income and Loan Forgiveness Interact with Each Other
59:19 Resources to Apply for Grants and Scholarships
1:05:10 Outro
