What the Stop Work and Dept of Ed Closure Order Mean for You
Episode description
The Department of Education is facing potential shutdown, and a stop work order has stalled loan processing. If you’re waiting on repayment plan approvals, PSLF progress, or forgiveness updates, this could directly impact you.
We’ll break down what’s really happening, how this could affect your student loan strategy, and what to do if your application is stuck. Plus, we’ll dig into the possibility of the Treasury Department taking over student loans and what that might mean for borrowers. If you have federal student loans, you need to hear this.
Key moments:
(00:32) Republicans have been wanting to close the Department of Education since 1979
(04:38) Student loan policy isn’t really the priority for shutting down the Department of Education
(06:12) Why borrowers should be concerned about the stop work order on income based repayment, forgiveness, and consolidation processing
(11:49) Best advice for student loan borrowers for the next few weeks
Links mentioned:
Reddit IDR application link
New paid newsletter SLP Insiders for exclusive content
Like the show? There are several ways you can help!
- Follow on Apple Podcasts, Spotify or Amazon Music
- Leave an honest review on Apple Podcasts
- Subscribe to the newsletter
Feeling helpless when it comes to your student loans?
- Try our free student loan calculator
- Check out our refinancing bonuses we negotiated
- Book your custom student loan plan
- Get profession-specific financial planning
Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!