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In 2023, the national federal student loan debt reached a whopping $1.727 trillion. Student loan debt can be a substantial financial burden on individuals, particularly recent graduates who may already be facing other financial pressures such as high cost of living, finding a job, starting a family, or purchasing a home. High levels of student debt can limit individuals’ choices and opportunities. In a recent survey, 81% of borrowers said they delayed key life decisions because of their debt.But there may be a sliver of hope for many borrowers: The Public Service Loan Forgiveness (#PSLF) Program. After ten years of unwavering public service with the University of California System, Theodore Gideonse, associate professor of teaching of health, society, & behavior and director of undergraduate affairs at UC Irvine Public Health, reached two significant milestones in his career. He was awarded tenure, and then a few months later, his remaining student loan balance of nearly $165,000 through the PSLF Program was set to zero.For Gideonse, the PSLF Program was a saving grace. The Program states that if you make 120 monthly payments (consecutive or not) on your student loans while working for a federal, state, local, or tribal government or many non-profit organizations, you may be eligible to have all your remaining student debt canceled. Dedicated individuals can alleviate the burden of student debt while fulfilling their commitment to public service, allowing them to focus their skills and expertise where they are needed most.#student #loanforgiveness #studentloan
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Adam Holzberg, CPA
Partner at Sax LLP
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Got #studentloans?April 30th is the deadline to take advantage of the expanded forgiveness programs and expanded eligibility exceptions through the new SAVE plan.If enrolled in the SAVE plan by the end of April you can take advantage of programs like the graduated forgiveness based on loan amount, forgiveness based on disability, and expanded qualifying payment eligibility for the public student loan forgiveness program (government and nonprofit employees)#studentloans #loanforgiveness
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Jason B. Ball, CFP®, ChFC®, CLU®
Empowering Financial Literacy at Jason's Fin Tips | Proud Stay-at-Home Dad
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This is a nice overview of the loan forgiveness plan. Issue Brief: The Benefits ofSAVE"This issue brief uses the rules of the plan to simulate how the SAVE plan reduces monthly payments for a typical Bachelor’s degree holder"https://lnkd.in/gsS4hSsN
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Utah Legal Services
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Have you heard of Public Loan Student Forgiveness programs? Read the description to learn more! After making 120 qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying employer, such as Utah Legal Services, your remaining loan balance can be forgiven! This is a significant financial boost, allowing you to focus on your career and personal goals. By alleviating the burden of student debt, these programs encourage talented individuals to pursue careers in essential fields like education, healthcare, government, and nonprofit organizations. Beyond immediate financial relief, PSLF programs contribute to long-term financial stability and personal well-being. Reduced debt means more freedom to invest in your future, whether it's buying a home, saving for retirement, or starting a family. These programs are designed to support a diverse range of professions and backgrounds, ensuring that public service remains a viable and attractive career path for everyone. Essentially Public Student Loan Forgiveness programs are a win/win for everyone! Apply now and start making an impact in your community! #PublicService #LoanForgiveness#CareerGrowth #FinancialFreedom #PSLF #StudentLoans #CommunityImpact
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The Democratic Coalition
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Nearly 80,000 public service workers — including teachers, nurses and firefighters — will have roughly $6 billion in student loans forgiven Thursday, according to the Biden administration."These public service workers have dedicated their careers to serving their communities, but because of past administrative failures, never got the relief they were entitled to under the law. Because of the fixes my Administration has made, we have now cancelled student debt for over 870,000 public service workers — compared to only about 7,000 public service borrowers ever receiving forgiveness prior to my Administration."Read more here: https://bit.ly/3IOJyi2#DemocratsDeliver
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Chad Chubb CFP®, CSLP®
Our Specialty is Financial Planning & Investment Management for Physicians 🩺
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🥼 Public Service Loan Forgiveness for Physicians 🩺After the excitement wears off of matching for your residency program, you’ll need to start thinking about how to pay off your loans. In this post/video, we will cover all the details about Public Service Loan Forgiveness (PLSF) and everything else you need to know about student loans in 2023.Key Takeaways: 💵 The two main types of student loans are federal and private. Federal Student Loans usually have more repayment options, are easier to repay, and have lower interest rates.💵 Private Loans are usually through a banking institution or private lender that usually cost more than federal student loans. The interest rate and payments can also change without warning.💵 Need some help paying off your student loans? We’re sharing an easy-to-follow plan to pay off your debt. We’ve also included a few timelines so that you can get an idea of how long it will take you to pay it off.Blog Post: https://lnkd.in/eiAsR89p YT: ⬇️
Physicians: Get Your Student Loans Forgiven With Public Service Loan Forgiveness! https://www.youtube.com/
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Chad Chubb CFP®, CSLP®
Our Specialty is Financial Planning & Investment Management for Physicians 🩺
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🥼 Public Service Loan Forgiveness for Physicians 🩺After the excitement wears off of matching for your residency program, you’ll need to start thinking about how to pay off your loans. In this post/video, we will cover all the details about Public Service Loan Forgiveness (PLSF) and everything else you need to know about student loans in 2024.Key Takeaways: 💵 The two main types of student loans are federal and private. Federal Student Loans usually have more repayment options, are easier to repay, and have lower interest rates.💵 Private Loans are usually through a banking institution or private lender that usually cost more than federal student loans. The interest rate and payments can also change without warning.💵 Need some help paying off your student loans? We’re sharing an easy-to-follow plan to pay off your debt. We’ve also included a few timelines so that you can get an idea of how long it will take you to pay it off.Blog Post: https://bit.ly/3TMYfHf YT: ⬇️
Physicians: Get Your Student Loans Forgiven With Public Service Loan Forgiveness! https://www.youtube.com/
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Chad Chubb CFP®, CSLP®
Our Specialty is Financial Planning & Investment Management for Physicians 🩺
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🥼 Public Service Loan Forgiveness for Physicians 🩺After the excitement wears off of matching for your residency program, you’ll need to start thinking about how to pay off your loans. In this post/video, we will cover all the details about Public Service Loan Forgiveness (PLSF) and everything else you need to know about student loans in 2024.Key Takeaways: 💵 The two main types of student loans are federal and private. Federal Student Loans usually have more repayment options, are easier to repay, and have lower interest rates.💵 Private Loans are usually through a banking institution or private lender that usually cost more than federal student loans. The interest rate and payments can also change without warning.💵 Need some help paying off your student loans? We’re sharing an easy-to-follow plan to pay off your debt. We’ve also included a few timelines so that you can get an idea of how long it will take you to pay it off.Blog Post: https://bit.ly/3TMYfHf YT: ⬇️
Physicians: Get Your Student Loans Forgiven With Public Service Loan Forgiveness! https://www.youtube.com/
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Joseph Darby
CEO at Become Wealth | Helping you create and maintain wealth
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Our amazing adviser Vinessa Orsbourn was a guest on RNZ last week.She spoke about the growing trend of adult children moving back home with their parents.And shared practical tips for navigating this new normal:1) Have a heart-to-heart about why they're moving back home. → Are they saving up for a place of their own? → Working on paying off student loans? If you understand their goals, you can figure out how much support to offer and how long they might be staying.2) Let's talk money. It's important that your adult child contributes to the household finances. → Paying rent→ Chipping in for groceries→ Covering their share of the bills3) Everyone needs to be on the same page about household rules and responsibilities. Make sure you're clear about expectations for:→ Chores→ Cooking→ Respecting each other's space. Moving back home as an adult can be a bit of a bumpy ride, But with some clear boundaries, open conversations, and a whole lot of love, you can make it work.Check out the full conversation here: https://lnkd.in/eexwCNtK
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Chad Chubb CFP®, CSLP®
Our Specialty is Financial Planning & Investment Management for Physicians 🩺
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🥼 Public Service Loan Forgiveness for Physicians 🩺After the excitement wears off of matching for your residency program, you’ll need to start thinking about how to pay off your loans. In this post/video, we will cover all the details about Public Service Loan Forgiveness (PLSF) and everything else you need to know about student loans in 2024.Key Takeaways: 💵 The two main types of student loans are federal and private. Federal Student Loans usually have more repayment options, are easier to repay, and have lower interest rates.💵 Private Loans are usually through a banking institution or private lender that usually cost more than federal student loans. The interest rate and payments can also change without warning.💵 Need some help paying off your student loans? We’re sharing an easy-to-follow plan to pay off your debt. We’ve also included a few timelines so that you can get an idea of how long it will take you to pay it off.Blog Post: https://lnkd.in/eiAsR89p YT: ⬇️
Physicians: Get Your Student Loans Forgiven With Public Service Loan Forgiveness! https://www.youtube.com/
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Become Wealth
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Our amazing adviser Vinessa Orsbourn was a guest on RNZ last week.She spoke about the growing trend of adult children moving back home with their parents.And shared practical tips for navigating this new normal:1) Have a heart-to-heart about why they're moving back home. → Are they saving up for a place of their own? → Working on paying off student loans? If you understand their goals, you can figure out how much support to offer and how long they might be staying.2) Let's talk money. It's important that your adult child contributes to the household finances. → Paying rent→ Chipping in for groceries→ Covering their share of the bills3) Everyone needs to be on the same page about household rules and responsibilities. Make sure you're clear about expectations for:→ Chores→ Cooking→ Respecting each other's space. Moving back home as an adult can be a bit of a bumpy ride, But with some clear boundaries, open conversations, and a whole lot of love, you can make it work.Check out the full conversation here: https://lnkd.in/g9584VP8
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