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All right, I'm going to transition and talk about Barber's Defense. This is another program I'm a big fan of. Although I should tell you that if you apply for this, Barber's Defense will probably take about two years. Two years to get these loans forgiven. Okay, Now this is important to know because your loans can be placed into an administrative for parans and what that means is is that
no payment isn't required. But if they find you are not eligible for Barber's Defense, any interest that would have accumulated in accrued over year one year two, it will be back applied, all right, and Barber's defenses really for if you attended a school that engaged in misconduct, you could have resulted in some type of harm as a result. And I want you guys to look at this lot and take a picture of it if you think this is for you, because you have to meet this criteria
based off of your own cognizance. So when you're doing the application, they will ask you have you suffered harm as a result of the school's misconduct. If you put no, then that's the no go. So please pay attention to this side because this is telling you what it needs to be now. Schools that are automatically eligible for this will be like University of Phoenix, devirivee Itt Tech. I'm just thinking of some schools off Heying, Sanford, Brown, so Capella.
You want to know these schools. If you are following my Instagram page the student on Doctor and the link tree, I have a list there for you very important to see if your school is on the list. There's about two hundred schools. I would love for you guys to just kind of verify and we know that most of the schools on this list if not, all are for profit schools. So if you're like I went there for
my Masters, you might want to get this application. Complete it because this will give you a good amount of money back. It takes care of the long death that you spent at that institution. All right, what is that's a one time account adjustment. This is a big deal. So let me just kind of read this verbatim and I'm going to break it down to you. So this is for those that are in an IDR plan or
PSL left. This will count all periods of repayment, regardless of the type of loan and repayment plan, towards IDR forgiveness. It also will count periods of forbearance in deferment that were not previously eligible. So this time, I'm going to put it to you. If I was doing a live survey right now, I would ask you, was there ever a time that you were enrolled in forbearance, meaning you just told them I cannot pay I cannot afford to
pay my loans. And then let's just say you called in and you needed some help, but they were like, you know what, don't worry about it, Bob, We'll give you six months. That ever happened to you. If so, you probably were a part of what's called forbearance steering. Forbearan steering says you didn't take the time to ex Bob about his financial situation and then allow Bob to
make some suggestions as to what he could pay. The way this works is, let's say you had a payment of two hundred dollars a month, but you really could just afford fifty, Or there was a document that was supposed to be utilized as said based off of what you shared here, we assess your new financial plan as.
X, Y, and z.
That didn't happen, and as a result, you lost traction and time towards paying your loans. A lot of people don't know this, but according to the repay plan, save Plan, IBr plan, there's a time period in which you are supposed to be in repayment. For example, the safe plan may say no more than fifteen years. Well, when your loans are in forbearance, you're not in repayment. And where you could have made a fifty dollars payment and kept it up, now you cannot because you didn't have the option.
So there's going to be an adjustment that's happening like now, and I want to give you up to thirty six months back credit towards for bear and steering. So I hope I made that as clear as possible that you want to keep track of on studenta dot gov and with your lender. Studenta dot gov is going to also by the end of December update where you are at in terms of repayment of the IDR plan. Just kind
of similar to a PSI left payment tracker as well. Okay, my next favorite one that's happening in real time and this one would be wrapping up by the summer if you took our loans before two thousand and three. We do help people follow this complaint. We have ebook about it's pretty cool.
You should not.
Have student loans if you were in repayment. And when I say repayment again, doesn't mean you made the payment. You were in repayment. We love to help, so let me give you a gist of what that looks like. If you have older loans, you also want to make sure before April thirtieth that you consolidate your loans so that you can be eligible for any form of forgiveness.
Says available now and what's coming to the pipeline. So just to give you perspective, about nine million people, probably more like twelve when we think about some of the parent Plus and Perkins and hell loans were skipped. So you probably got skipped if you're like girl, I didn't get loan forgiveness before two thousand and three. I know
this is what we're talking about this tonight. So I'm really really excited for you guys to explore this concept with us further because you probably are overdue for forgiveness and you simply put got skipped. That was what the announcement had said, all right, So I'm really excited to see who can be eligible for this. This is a process in which we would submit a complaint and say hey,
could you look at our loans? And as a result, we have been seeing people get forgiven last slide and I definitely want to go into some Q and A tonight. I think that the serving of time will be best spent. Oh, I do want to give you guys the latest update with Biden. Can't forget that. I'm actually probably going to read verbat them to you guys, because I don't have a slide for it just came out of what is
happening with the BIDO administration and forgiveness. Lastly, if you do not work for a nonprofit, you may want to consider owning your own nonprofit. Now, of course, you want to have it towards a good cause, so you want to make sure that you actually care to have the nonprofit. Get it up and go and work in the nonprofit and setting it up correctly very important. So you would start your own nonprofit, you would file your federal and
state paperwork, you would complete the PSLF paperwork. Afterwards, you would then complete an employee designation form, and then you would and well into an IDR program such as SAVE. Now, we do have programs and services that help with this. The reason why this is very very important. We've helped thousands with this. This is great is because they've become more lenient as to who can get credit in the
PSLF program. And they've even changed your FAQ around to assist people that have just started their nonprofit to be eligible for PSLF. Somebody said, well, can I enroll my mom into it? Can I roll my boyfriend?
You?
And the thing is, you just don't want to take on too many employees because there's a four year window in which you have to get the nonprofit off the ground, so to speak. But by year four you have to show that it's profitable making income the equivalent of your salary, and in this example, you probably would say your salary is minimum wage of at least thirty hours a week in which the state in which you live in that makes sense just for context. So super cool option to
help more people get onboarded with PSLF. Another thing that I like about what's happening with PSLF. By July, we're hoping that they're going to announce that you can make multiple payments in a month, very very exciting. So let's say your payments two hundred dollars, but you can afford that month to make a six hundred dollars payment, or that could be three payment miss out of one twenty. The goal is as soon as you get to one hundred and twenty payments, you will be forgiven. So anybody
excited about that. That's a big, big deal because of the way that you're able to expedite repayment if YOU'REPSLF in general, or let's say you start the nonprofit and get enrolled in PSLF. Okay, and then last thing Biden loan forgiveness. Let me pull that up for you.
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