Episode description

Are you feeling overwhelmed by the recent developments in student loans? Well, we've got you covered. In our latest episode, we welcome Deborah Paul, Scholarship and Grant Director from the Louisiana Office of Student Financial Assistance, to break down the complexities of student loan management. What does the Supreme Court's decision to block one-time student loan debt relief mean for you? How will the resumption of payments and interest accumulation in September affect your financial planning? We've got the answers. We also delve into critical information for those new to loan repayments, explaining the purpose of exit counseling and providing tips to locate your loan servicer.

We're not stopping there. We'll guide you through the Save Repayment Plan - a lifesaver for those earning less than $32,800 a year for single earners and $67,500 a year for families of four. We'll demystify the terms 'deferment' and 'forbearance' and shed light on the requirements for loan forgiveness. And if you're starting to feel the pinch of repayment, we'll share practical tips on managing it, like adjusting your payment plan to minimize monthly outgoings or recertifying your income-driven repayment plan. To ensure you're well-informed, we've curated a list of government websites, including studentaid.gov, nslds.ed.gov, and mylosfa.la.gov, which can be indispensable tools in your student loan journey. Join us in this crucial conversation. Together, let's demystify student loan debt.

Guest Deborah Paul, scholarship and grant director with the Louisiana Office of Student Financial Assistance

myLOSFA.la.gov

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Welcome to Money Matters, the podcast that focuses on how to use the money you have, make the money you need and save the money you want – brought to you by Neighbors Federal Credit Union.

The information, opinions, and recommendations presented in this Podcast are for general information only and any reliance on the information provided in this Podcast is done at your own risk. This Podcast should not be considered professional advice.