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The Department of Education Changed the rules for student loan forgiveness

 The Department of Education has "silently" changed the rules to student loan forgiveness that will affect at least 800,000 borrowers. On September 29, 2022 the Department of Education made a few changes for those who obtained the Perkin's and Federal Family Education loan.  Here is the language directly from the Dept of Education "As of September 29, 2022 borrowers with federal student loans not held by ED cannot obtain one time debt relief by consolidating those loans into direct loans". Previously individuals who did obtain theses loans were able to receive loan forgiveness. Figure 1: This is a thumbnail of my latest YouTube video "Student loan forgiveness guidelines have changed" where I am sitting in my office while looking at the camera with a suspicious look.  Many speculate that potential lawsuits could be the reason why the Dept of Ed has changed it's language recently. Long story short the banks who insured these loans will not receive an

One Year Debt Free Journey Update

September 8, 2020 was my one year debt free journey anniversary. A year ago I got sick of payments and not managing my money well. Each month that I would get paid I would give most of my money to payments. It was ridiculous and I could no longer stand it. This inspired me to get my money together through financial literacy. 

Figure 1: This is a thumbnail of my latest YouTube video on “ADL: One Year Debt Free Journey Update” where I am sitting on the couch with a surprised look.

I remember seeing a post on a friends Instagram where she talked about paying off all of her credit card debt and she talked about this guy named Dave Ramsey. I looked him up and started listening to his podcast and I have been hooked ever since! Since then I have gotten on a real live budget and cut down my expenses. In the beginning this was not easy.  I don’t know if I ever would have imagined not getting my nails done, eating out, or saying no to all things entertainment. I even cut out cable and got a streaming service! 

Figure 2: This is an image that shows a pie chart, bar graph, and other charts with the word budget on a piece of paper with a black pen above it, 

Since September 2020 I have paid off $16,131.67 and man has cutting out all the things I love been worth it! I think the hardest part of this journey at times is doing it alone. I’m selective on who I tell this journey too because there are folks who simply don’t understand and will try to discourage you. I’m actually thinking of staring a group that would help to encourage others while on this journey . My next steps are to continue going full steam ahead paying off my debt and as quick as possible .

Figure 3: This is a photo of a pink sticky note that reads “Debt Free” surrounded by colorful tabs and balled up pink paper.

 I’m currently working on my student loans before I move on to my very last item! Are you on a debt free journey? Interested in learning more? Drop down in the comments and let me know! Be sure to check out my latest video below!

SUBSCRIBE: Adult Daily Living Skills: One Year Debt Free Journey Update 

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