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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

Joe Byron Extends Pause on Student Loan's Again!

 

Alright guys I’m back with another student loan update! After my last video I thought that Mr. Biden was done with the federal pause on student loan interest and repayment was going to begin soon. Apparently, he had a change of heart, and the extension has been put in place until May 1, 2022. Many people breathed a sigh of relief I’m sure and a little bit of hope has been placed back into the potential of student loan forgiveness being a thing again.


Figure 1: This is a YouTube thumbnail of my latest video on “Joe Byron Extends Pause on Student Loans Again!” where I am looking at the camera with a smug look. I am wearing a grey shirt, a gray beret, and there is a window in the background.


While my hope in student loan forgiveness was put on the backburner a long time ago it did get me to thinking a bit. Why is the pause continuing to be extended? Why can’t Biden just cancel student loan debt? What’s really holding him up? I have no clue to any of these questions honestly and I’m done racking my brain about it. I saw a post from the NAACP that stated that if Biden can keep extending the pause on interest, then he can forgive student loans as well. I couldn’t agree more however it is not happening and I’m done waiting. 


Figure 2: This is a screen shot from the NAACP that says, “If you can afford to pause student loan payments over and over again, you can afford to cancel it.” There is a multi-colored background with a photo of money. 

I am paying on my last student loan, and I will be finished with this whole thing long before May 1, 2022. With another extension I am encouraging you to make some head way on your student loans. It’s not too late! I understand that many individuals have an insurmountable amount of student loan debt but the way to eat an elephant is one bite at a time. That’s exactly what I did and I am almost there guys and you can do it too! If you want to know how I paid off over 11k in student loan debt in less than a year be sure to download my 8 Tips to Conquer Student Loan Debt free PDF.  In the meantime, check out my latest YouTube video and let me know your thoughts by leaving a comment below!



Figure 3: This is screenshot of my student loan debt email list sign up form. There is a picture of money at the top of the screen, a mini summary on how I paid off over 11K of student loan debt, and a button for you to click at the bottom to obtain the free PDF. 

 





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