Bonamici hosts Student Loan Know Your Rights Webinar with Lane Thompson and Mike Pierce
Congresswoman Bonamici hosted a webinar with student loan experts Lane Thompson, the Oregon Student Loan Ombuds, and Mike Pierce, the executive director and co-founder of the Student Borrower Protection Center.
00:00 - Introduction
08:41 - Lane Thompson Presentation
09:29 - Division of Financial Regulation
11:25 - Importance of checking loan servicers' licensing
13:03 - Oregon Student Loan Ombuds Role
14:24 - Type of Student Loans
16:47 - Entities Involved in Student Loan Servicing
17:55 - Overview of Income-driven Repayment Programs
21:51 - Overview of Forgiveness & Cancellation
22:19 - Changes to student loan repayment PSLF
26:48 - Closed School Discharge
27:41 - Borrower defense to repayment
28:31 - Overview Total & Permanent Disability Discharge
29:59 - What happens if you are behind on your loans?
30:30 - Delinquent & Defaulted Loans
32:45 - Overview of Resolving Default
33:19 - Overview of Consolidation
34:00 - Overview of Loan Rehabilitation
34:58 - Looking Forward
37:11 - When to Contact Ombuds
38:24 - Mike Pierce Presentation
38:40 - What Student Loan Borrowers Need to Know Right Now
39:03 - Post-Election Updates
40:27 - What is happening right now? Lawsuits & Lame Ducks
44:49 - Overview of PSLF & SAVE
46:50 - Important Takeaways
48:30 - Start of Q&A; mix of live and pre-submitted questions
49:11 - (Q&A) Who can I turn to for personalized recommendations to lower my monthly payments? 50:23 - (Q&A) For Parent Plus Loans that were consolidated and placed on an income contingent repayment plan. Is there a maximum number of years or payments for forgiveness? Are parent plus loans eligible for PSLF? Any tips on types of relief?
51:34 - (Q&A) My student loan servicer took me off my previous payment plan before my SAVE application could be processed. Can I get back on it?
52:05 - (Q&A) I am a senior and finally got on a SAVE plan. Should I switch to another payment plan? Can I do it by phone or by paper?
52:48 - (Q&A) What should I do if the Trump administration refuses to process PSLF completed program applications?
54:32 - (Q&A) How can I know if I qualify for debt forgiveness with so many different programs, I'm not sure how I can get information to know if I qualify for any programs?
55:28 - (Q&A) I'm 67 years old, and I've been paying my direct loan for over 20 years. Is there any forgiveness available for 20 plus year old loans?
56:45 - (Q&A) What would be the impact of the discussion of dismantling the Department of Education on the student loan repayment and forgiveness?
57:27 - (Q&A) Do payments while in deferment still count for the forgiveness program?
59:10 - (Q&A) Why are my tax dollars being used to pay other student loan debt?
01:01:07 - (Q&A) My school was involved in a settlement, and many borrowers were forgiven, but I wasn't. Is there any way to reassess?
01:02:19 - (Q&A) The SAVE lawsuit ended the repayment plan. Is loan forgiveness a viable option?
01:04:16 - (Q&A) Are retirement savings and Social Security considered income for repayment?
01:05:08 - (Q&A) Is there any way to access previous work records that are eligible for PSLF?
01:06:27 - (Q&A) Can we use Biden's bankruptcy law just to discharge student loans?
01:08:20 - (Q&A) Should I try to change from SAVE to a different plan, which IDR plan is most recommended for those who are on PSLF?
01:09:11 - (Q&A) If I have a collection of direct loans that I've made significant progress on towards PSLF payments, will I reset that PSLF timer if I consolidate these loans?
01:11:17 - (Q&A) Do you have any suggestions for someone that does not qualify for disability but is too immunocompromised to work conventionally to repay their student loan debt?
01:12:10 - (Q&A) I'm an independent contractor with an unpredictable monthly income. How can I ensure my monthly payment under an IDR repayment plan is as low as possible to account for that unpredictability?
01:13:32 - (Q&A) Is there any risk to continue to take advantage of SAVE if a borrower wanted to make interest payments?
01:14:36 - (Q&A) Mohela said that they will not let me out of the SAVE plan, but I'm desperate to get my PSLF counts started again. I'm less than a year away from 120 payments. They said the only thing I can do is switch to the ten year repayment plan, which is more than my monthly salary. What do I do?
01:16:05 - (Q&A) Do you think that the federal poverty level will be adjusted for inflation in terms of student loans?
01:17:01 - (Q&A) What is the processing time for the buyback program?
01:18:50 - (Q&A) If President Trump ended the PSLF program, would those who are already enrolled be protected. What's the most likely scenario and what grounds would litigators have to fight back on?
01:20:12 - (Q&A) The current rules indicate the qualifying employment needs to include at least 30 hours a week, what if I work part time?
01:23:21 - (Q&A) For borrowers defense, do you have any tips for applicants?
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