Well, welcome back.
We're talking all things student loan
with the president of the Institute of
Student Loan Advisors, Betsy Mayotte.
This person is asking will you e
to pay your student loans back f
you get Social Security disabil?
So that depends.
If you're under the level of
Social Security Disability,
where they're only reviewing yor
case every five to seven years,
and you could be eligible for what's called
Total and Permanent Disability Discharge.
If you go to disabilitydischarge.com,
which believe it or not is the Department
of Ed's Disability Discharge website,
you can find all the information
and figure out how to apply
and say what that website is. A,
disabilitydischarge.com
disabilitydischarge.com OK,
this person's asking if
you are being garnished,
will you still be eligible
for the new forgiveness plan?
So nobody is should.
Nobody with a federal student ln
should be garnished right now because
we're still in the COVID period.
If you are being garnished
later or were before COVID,
you should look into the Fresh Start program,
which is a a limited time progrm
that will get your loans immediy
out of default so you don't havo
worry about garnishment anymore.
And then down the line you will
likely be able to get some credt
and potentially even forgiveness
under these income driven plans.
OK, this is, this question is
about federal and private loans.
How do you know if you have a
federal loan or a private loan?
And if it is private,
is there a way to switch it to federal?
So the first question is super ,
Log on to our favorite website,
which is of course studentaid.gv
If it's there, it's federal,
if it's not, it's private or st.
And unfortunately, there's no wo
make a private loan, a federal .
Okay. No way to make a private ,
a federal loan. And if we can back there,
if we can get the studentaid.gov
website just so that we can
show folks by the end of this,
they'll be able to take it down
or take a screenshot.
All right, this next question i,
I continue to pay on my student
loan during COVID,
and I finally paid them off.
How can I get a refund?
Congratulations. I mean,
people can always ask for
refund other COVID payments,
but then you're going to owe
the money again and you'll have
to pay interest on it.
So congratulations, good job.
OK, but no refund.
Now at one point we were talking about
a refund because there was that student
loan forgiveness 10 up to 20,00,
but that is no more.
So no more refunds, correct?
OK. This person is asking
if I don't have an income,
do I still have to pay my loans?
You are still due for your loan,
but if you don't have income,
you can apply for these
income driven repayment plans.
You would have a $0.00 payment and after
being on these plans for 20 or 25 years,
you have to recertify your income every year.
Whatever balance is left and it could
be the whole thing would be forgiven.
OK, but you do have to do
that every single year.
Certify your income correct.
OK, this person's asking
can I get payment credit for
time I spent in deferment?
It depends. So under
this one time adjustment,
they are giving credit for some deferments.
I can tell you right now it's a little
complicated to go into in this segment.
In school, deferments do not co.
Grace period does not count.
Some of the other deferments wil
count under this one time adjustment.
You can read all the details abt
it on our website or on the onee
adjustment page on student aid v
Right. And we've had a couple of
questions and they are very complicated.
It seems with Public Service Lon
Forgiveness that certain things don't
qualify and they thought that they would.
So is that something that they n
contact your student loan adviss
directly to get help with that?
Yeah, we provide free advice via e-mail only.
I suggest that they look
at our PSLF page first.
If we did our job right,
their question might be answered
right there on that page.
But if they need more help or if
they feel like they have a disp,
they can use the TISLA
e-mail on our contact page.
OK. Thank you so much for your ,
your expertise. We appreciate
it if you missed any of this.
If you need to get in touch with
those student loan advisors
to see if you can get your quesn
answered by them specifically,
we're going to have that posted
for you on WMY news to dot com n
the two Wants to know section.