July 1st is rapidly approaching. Roughly 7 million borrowers currently enrolled in the SAVE plan will soon be informed that they have just 90 days to choose a new repayment plan. For many debtors, that’s a lose-lose proposition. Switching plans could double or even triple debtors’ monthly payments. In addition, student loan servicers like MOHELA and Nelnet have been known to make mistakes on borrowers accounts, preventing them from receiving the relief they deserve. What’s worse is the DOE under the Trump administration is sending alarming, and even conflicting information.
We spoke with Joseph Strafaci, professor and PhD, about his experiences navigating the student loan system — a dumpster fire by design — and a recent post he made on Reddit, which drew wide attention. Be sure to follow Joseph’s Substack, The Civic Blueprint.
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