Stress-Free Student Loans: Everything You Need to Know to Manage Your Debt | Ep. 238

• Dorethia emphasizes the importance of following studentaid.gov as policies change frequently. She stresses that borrowers should prepare to resume payments when the pause ends, as forgiveness isn't guaranteed.

Until your loans are forgiven, you have to pay those back for real.

• Check what your payment agreement was before the pause. Contact your lender to discuss new arrangements based on your current financial situation. Options include income-driven repayment, deferment, or forbearance.

Whatever your payment agreement was with your lender before all the pausing... that's going to reinstate probably exactly how it was.

• When calling your servicer, ask about forgiveness opportunities and other benefits. Tiffany shares her experience where calling revealed her deadline was extended due to her income-based plan.

Are there any other opportunities for me to have my loan forgiven? Or are there any other benefits that I could take advantage of?

• Explore whether consolidating multiple loans could benefit you. Federal loan holders should generally avoid consolidating into private loans due to pending forgiveness programs. Private loan holders should ask about opportunities to move to federal loans.

Loan forgiveness is around federally funded student loans, not private.

• Even if not planning to pay immediately, staying informed about forgiveness opportunities is crucial. Many borrowers have already had loans forgiven through programs like PSLF. Ignoring loans can impact future financial goals.

Some people have already gotten their student loans forgiven. If you are not paying any attention, you may be missing out on an opportunity.

• When considering additional degrees, weigh the income potential against loan costs. Have a clear repayment plan before borrowing. Tiffany's mom successfully had decades-old loans forgiven through PSLF after staying informed.

• Dorethia's book covers getting out of debt, managing money successfully, investing basics, and protecting wealth. It includes money mantras and action steps. Buyers get bonus downloads at moneychatbook.com.