Description: The passage covers the topic of navinet login. The author will talk about the qualifications for the new student loan forgiveness program administered by the course that Donald Trump and his administration group technically work for. We can be given the introduction about New College Student Loans Forgiveness Change.
This is Calvin Russell, CEO on station, I hope everyone is doing well this evening, I know it is much later than what I normally do a video, but I had to do this, because there are so many bad articles out there that are completely sending people off.
I grabbed all the information, I could see the right information, you know there are student loans, you definitely want to make sure that they watched this video, first, let’s go straight into it, let’s talk about the qualifications for the new student loan forgiveness program administered by the course Donald Trump and his administration now technically do.
It is not a new program, it’s a change to an old program, that was part of the Bush administration, but I don’t know about it, this is the student loan forgiveness program, you must work for the public sector, so either way, let’s go straight into it, because I don’t want to make sure that there is a lot of confusion about what it used to be and what it is.
So let’s go to the first one, you must work for state local, you must work for state local or federal government, so that isn’t necessary, which means that everyone’s job is excluded, the thing about it is that with the Bush administration, a lot of people didn’t understand if they were teachers, if they were qualified, if they were in education, did they qualify?
This is the only student loan forgiveness program that I am aware of, I have the information tonight, any other program, it could be something with your job, a different industry whatever case, so firstly, find out if your industry qualifies, if you were for state government local government or federal government, if you’re not sure, don’t worry.
I’m going to have a number down at the bottom in a description for you to call on Monday to find out and also give you the email as well, because their lines are going to be blowing up information, hit national media, but they’re not going to talk about everything and it hit national media.
I believe that should be Thursday night, if it is not yesterday, a lot of people have got the information, but that’s number one, you must work for state local or federal government.
Secondly, you must be full-time now, because everyone has their own definition of full-time, full-time is not what they’re looking at thirty hours, that’s thirty hours a week that you must work, thirty hours a week that you must work, that’s the second one.
Now you can also be for a 503 seed non-for-profit, but you must work at least thirty hours, now I’m going to give you as a second one, the Department of Education as well as their email, because I know they’re going to be crazy on Monday, you probably do better and there are a lot of great areas into things, but it never hurts to double-check.
But here’s where it gets a little crazy, so the first private student loans do not count, that means if you took our loans directly from the school or directly from a bank or something like that, the US Department of Education was not involved in those student loans.
If you have those types of student loans, they do not count, they must be government issued loans Sallie Mae Direct Loans navient nail net, if you’re not sure, you check your mail, check your credit report, it will show who owns those loans now.
Some people ask what if my loan started out with XYZ bank and then it got bought out back there, those do count, for example, if you have a Chase Bank student loan or if you got a son, if it was purchased and bought out by Direct Loans which is a u.s. department of education sector navient Nelnet all that jazz, then those do count.
But if you’ve stayed with Chase or whomever and you kept paying them, then it stayed private, that doesn’t mean that, it means that it won’t qualify for this particular program, unfortunately, I wrote all this down, so I wouldn’t mess this up.
Now here’s the next one, you must be enrolled in, they’re going to make it difficult, so you must be enrolled in an income based on the payment plan, it’s an income driven repayment plan, when they take a look at your income and they want you to start making payments on it, now that does not mean that it’s going to be some crazy high payment, everyone’s situation is going to be a little bit different.
This isn’t even the hard part, this is the easy part, so you must make consecutive payments, 120 consecutive payments, that’s a payment on time for the next ten years, what if I’ve already been making payments, you know my student loans and it was an income based.
All you have to do now should be related to those payments, they can count as long as it’s in government issues loans and what you can do is that you can transfer that, you have to change what you’re paying now, your payment plan to an income based on repayment plan, you got to do it.
If you want the previous note to count, so five years, it wasn’t an income based on repayment plan, you can count those payments, you definitely do that, but they have to qualify and they see and they want consecutive payments now.
The reason why they’re making it so difficult is that we’ve done the numbers, when the Bush administration came out with this program, there were no limits now, the Trump administration has now put a limit on it, you’re probably thinking about what the limit is.
Three hundred and fifty million dollars, that’s a lot, let’s break the numbers down, I’ve already done the math, three hundred and fifty million dollars is thirty five hundred people having a hundred thousand dollars in student loans.
I think Chicago by itself has three million people, so the thing about it is trying to get this money and it’s going to be first, come first, serve now, you’re probably thinking about whether I should even try, I wonder if you can get that money back and things of that sort.
If you have a normal job which means that you will work for the government, it’s not normal, but these are no police officers, but you want to find a double check and make sure I’m going to see whether I get a list of employers or things of that sort. because I know a lot of stuff out there was like that if you were a teacher for ten years and all the rest of stuff.
So it’s not working for these for the government or anything like that, it’s not working for them, you have to make sure that you’re on an income based repayment plan that you’re working at least 30 hours a week and that you are making your payments consecutively.
The biggest thing is that you cannot miss a payment, now you’re probably thing with Calvin, only thirty five hundred people, everyone doesn’t have a hundred thousand dollars in student loans, but three hundred is not a lot of money, this is like I don’t even know why they even brought this up.
To be honest, I’m saying that I think that is great for people to know, but also temper your expectations, it’s not a lot of money, that’s out there, then the next question is with Calvin what do we do, don’t stop in on our students, you got to decide if you could afford to do that.
I know with me and my wife, our goal is to try to solve that through real estate, but you know how everyone’s plan is going to be a little bit different, but that’s how you got to do, so let me go and run down this list one more time, you got to be working at least 30 hours a week, not 32, because in Illinois 32 is full-time.
They’ll take 30 hours a week, you must work for state local or federal government, if you’re not, that will affect your job qualifies, I’m going to have a number down at the bottom as well as the email that you can call or email on Monday to make sure to see if you qualify.
You can also work for a 501 3 C, that’s a nonprofit organization, if it qualifies again, you’ll find out, once you talk to them, it’s only u.s. department of education loans since Direct Loans Nelnet navient, if you owe them, Sally made that jazz, no private student loans that were never convert it over to US Department of Education for those who don’t know.
A lot of private organizations held loans at one point, but they weren’t getting paid either and they sold them off to the buyers which is navient nail net Direct Loans that type of stuff, you’ll find out once you call the number or send them an email, then you must be enrolled in an income based on repayment plan for ten years, making all of your payments on time, that’s 120 payments on time.
I saw that someone said here, but I’m reading an article somewhere else and they said, you know what if you’re paying going for 10 years, how much you have left over, you’d be surprised, because I’m talking about what you’re looking at, maybe there is no interest, that’s only my fed loan.
I’m not sure, that’s got to be it, I’m thinking and my fatlings got to be a federal government, look at your credit report, when you get some time, so 90% of people have government-issue student loans, so I promise you the chances are very high, but you have to make sure to see if your employer qualifies, because you main work for a company that is government-issued, government funding and by your local state or federal government.
You may not know that, but find out for sure on Monday, it never hurts to try to see plus some of you are on some types of payment plan, but it must be income based on a payment plan, other than that, that’s the best forgiveness plan that I know, that’s been verified, but for them, they even throw any kind of money at this, it’s better than nothing.
But at the same time, that means that they aren’t that student loans as a topic is now on the table, I don’t know when they’re going to address it, my personal opinion is going to be like the big short all over again.
If you haven’t seen that movie, watch it as soon as possible, Netflix is called the big short phenomenal movie talking about what happened in 2008 in the mortgage industry. I honestly see the same thing happening with student loans, if that’s what can happen when people don’t pay their mortgages, you had better believe it’s going to be an insane, an economic downturn.
Once we get to a point where they stopped issuing out, these two loans and they start doing something about it, because you can’t afford to pay it, but either way, that’s the best, if your owner graduated some types of good things, they have some types of graduated repayment plans and things that sometimes it could be through the school things and they bail out the banks baby mom because everybody puts on better those sales.
That’s the problem, we did everything after home buying event that I did here in Illinois, we talked about how you did everything correctly and it seems that no one’s giving us any type of chance to get out of the situation.
But if you’re on some types of other repayment plan like that $5 a month jazz and all that you may want to consider schools like Everest was a problem, absolutely you may want to consider no moving everything over to an income based repayment plan, but I wouldn’t do anything unless you confirmed that you work for one of the qualifying industries that they need you to be in order.
The student only bass student loan no payment student loan forgiveness repayment program, so here’s the deal, find out I’m going to put the number up there, I’m going to put the email up there as well.
As I get down to video and you can go from there, if I get any other information, I like to do research and make sure I get it from the source and this came directly from the site as well, so I’ll put the link up there, if they updated it, because the program always existed, but there was never a first-come first-serve basis that was never a limit now.
There’s a limit 350 million dollars, there’s not a lot of money, that’s 3,500 people having to 100 thousand dollars with the student loans. I did the math, so if you know anyone that’s got student loans or things of that sort, be sure to share this video, if you liked it, you may want to share it, we will always want to deliver you some more good content, thank you so much, have a good day.