Essential Updates on Federal Student Loans: Consolidation Risks, Deadlines, and Forgiveness Insights

Reddit IDR Payment Count Hack

Login to studentaid.gov and type https://studentaid.gov/app/api/nslds/payment-counter/summary as the URL

In this episode, several critical updates on federal student loans are discussed. These include the dangers of consolidating loans post-July 1, 2026, the necessity for consolidating specific types of loans like Perkins and Stafford loans, and how Parent PLUS loan borrowers need to act before this deadline. It further details a Reddit hack for checking forgiveness credits, and highlights the ongoing backlog in Income-Driven Repayment (IDR) plan applications. The episode also touches on the Trump administration's challenges to the Public Service Loan Forgiveness (PSLF) program, the current pause on IDR forgiveness due to legal issues, and potential benefits from dropping interest rates for those considering private student loan refinancing. Despite the lack of a consistent theme, several random but significant updates are provided to help manage, reorganize, or expedite student loan processes.

00:00 Introduction and Episode Overview
01:16 Consolidation Warnings and Deadlines
04:06 Parent PLUS Loans and Income-Driven Repayment
06:11 Reddit Hack for Tracking Forgiveness Credits
09:06 Public Service Loan Forgiveness Updates
11:37 Income-Driven Repayment Plan Backlog
13:21 Positive News and Final Thoughts

In this episode, we review a student loan case whose strategy required changes less than 60 days out from the recording.

It highlights the importance of staying updated with legal and policy changes.

For those who want to have their loan strategy reviewed for free on the podcast, they can visit EscapeStudentLoanDebt.com/review. Those seeking a one-on-one session can schedule at EscapeStudentLoanDebt.com/session.


00:55 Case Study Introduction
04:31 Federal vs. Private Loans
09:54 Income and Repayment Calculations
18:18 Repayment Strategies and Recommendations

In this podcast episode, we are joined by Stanley Tate, a seasoned lawyer specializing in federal and private student loans.

Stanley shares his extensive knowledge and practical advice on managing student loans, including strategic use of forbearances, the unique approach of returning to college, and leveraging the Foreign Earned Income Exclusion Act.

He also delves into the potential discharge of student loans through bankruptcy under certain conditions.

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00:41 Meet Stanley Tate: Expert in Student Loans

02:02 Understanding Borrowers' Financial Struggles

04:31 Strategies for Managing Student Loan Payments

13:02 Creative Solutions for Student Loan Challenges

18:12 Exploring Bankruptcy for Student Loan Discharge

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