CSLA Institute

Consumer

student loan servicers

Navient is Transferring its Loans to Aidvantage

The Navient Student Loans Transfer to Aidvantage   What you need to know By year’s end, Navient is expected to transfer its federal student loans owned by the U.S. Department of Education (ED) to Aidvantage*. This change will not affect the existing terms, conditions, interest rates, loan discharge or forgiveness programs, or available repayment plans …

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White House

Student Loan Forgiveness Updates

Today the U.S. Dept. of Education announced a series of significant changes to the Public Service Loan Forgiveness Program (PSLF). These changes have the potential of positively affecting the repayment status of over 500,000 student loan borrowers. According to the release, 22,000 borrowers who’ve consolidated loans that were previously deemed ineligible will now be immediately …

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CSLP Podcast

IDR RECERTIFICATION & CARES ACT SUSPENSION

IDR RECERTIFICATION & CARES ACT SUSPENSION As we near the end of the CARES Act suspension, student loan borrowers need to understand their obligations their loan repayment obligations. One issue that many borrowers are facing is the recertification of their IDR plans. Annual Recertification Student loan borrowers under an Income-Driven Repayment (IDR) plan are required …

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CSLP Online Education for financial advisors

PSLF CHANGES IMPACTING STUDENT LOAN FORGIVENESS

In the 4th quarter of 2020, the Department of Education (ED) made two major changes to the administration process of the Public Service Loan Forgiveness Program. The following is a summary of changes made and what borrowers and their financial advisors need to know. Public Service Loan Forgiveness (PSLF) has proven difficult for borrowers to …

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Certified student loan advisors for clients with student loans

Choosing the best Income Based Repayment plan

Choosing an income-based repayment program can create a lot of confusion. Consumers are more frightened than ever about how to repay their student loans. When working with the Federal Gov’t web site to setup their plan they often are confused and more often than not make an inappropriate decision unwittingly. As a financial professional, you …

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Certified student loan advisors for clients with student loans

Dept of Education on Cares ACT and Loan Repayment

As previously noted on 8/8/20, President Trump signed an executive order extending the repayment flexibility offered under the CARES act through December 31, 2020. Last Friday, the Departmentof Education (ED) and Federal Student Aid (FSA) provided further clarification through this press release.  Interest-free period extended The action extends the actions taken by Secretary DeVos at …

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CSLP Program for financial advisors

How to find a financial advisor to help with your student loans?

A consumer-guide for finding a financial advisor to help with your student loans Ideally, student loan borrowers will develop and follow a personalized financial strategy for building a strong financial foundation while managing their student loan debt. Well-qualified financial planning professionals can help, but many financial professionals have little education or experience with today’s complicated …

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