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Biden to Forgive Student Loans in August 2022?

  Alright folks I’m back with another student loan update! According to CNBC, Biden is set to make a decision on student loan forgiveness by the end of August 2022. Now while I’m not entirely sold that this is actually happening, there are several things for you to be aware of. First things first there is still no clear information on how much will be forgiven. While Biden did discuss student loan forgiveness of $10K during his campaign trail other sources have reported higher amounts of 50K. Of course, none of this is set in stone and we are all waiting to hear something. This is a thumbnail of my latest YouTube video on “Biden to Forgive Student Loans in August?” I am looking at the camera suspiciously while seated in my office. The background is red. There may also be income restrictions of who may qualify for student loan forgiveness. Single folks may have a threshold of 125K-150K while those who are married may be between 250K-300K. There is also some talk surrounding what typ

Summer Financial Aid Won't Cover My Courses! What Do I Do?

 

So we are in week two of summer courses and for my university this past Monday was the official drop day due to nonpayment. As you know during the summer financial scholarships and grants are limited which often stop students from taking summer courses. I remember being in undergrad and taking out a student loan during the summer because my scholarship did not cover everything. This actually got me to thinking on what should students do when there summer financial aid does not cover their summer courses. Check out the tips below if you or someone you know is in this situation!

Figure 1: This is a YouTube thumbnail of my latest video on Summer Financial Aid Won’t Cover my Courses what do I Do? Where I have a stressed look on my face

 

First, set up a meeting via phone or email to speak with your financial aid advisor or the director of financial aid. Keep in mind that depending on your universities size meeting with the director may be a task so meeting with an advisor is just as good. You also should always start with your financial aid advisor first. Be sure to be professional, present, and polite. Know your numbers! What do you already have? What do you need? Are there any scholarships, grants, or student jobs that could assist you? How should you go about applying for them? Student loans are NOT an option!


Figure 2: This is a photo that says financial aid and scholarships


Next, how much are your courses? Can you do a payment plan? If you are able to pay but not all at once, reach out to student accounts to receive more information on this. During the summer, this may be difficult to do as the summer sessions are much shorter however, your university or college may still be able to work something out that does NOT require any type of loan.

 

Figure 3: This is a photo that says installment plans.


If you are a part of an organization such as a fraternity, sorority, or church group that you have consistently participated in try reaching out to the person who is in charge and let them know your situation. Remember, be polite, professional, and present. Never lead with “I need money and fast!” instead present your situation in a clear and concise manner and ask if there are any extra funds to assist you with pursing your education. 

Figure 4: This is a photo of a group of people working together


Lastly, if you are able to lean on your family for financial support do so! You know those aunties, uncles, and older cousins who give you the good old Pentecostal handshake (that’s a handshake with money in it!) at all the family gatherings? Now is the time to lean on to them to see if they can assist you! If family is not an option for you don’t get discouraged and don’t give up! Try each of the steps I mentioned earlier! Are you in this situation currently? What options are you trying to make sure your summer courses are paid for? Drop down in the comments and let me know!

 

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