Student Loan Nightmare: Teacher in Wrong Payment Plan
This headline grabbing statement from the New York Times is all too true for many public service employees who are anticipating loan forgiveness through the Public Service Loan Forgiveness (PSLF)* program. We see this every day with people who believe making qualifying payments in the program but aren’t, resulting in lost time and wasted payments […]
Ensure Your Employer Qualifies for Loan Forgiveness
We’ve received many inquiries about this New York Times article published. Here’s what you need to know. An article in the New York Times highlighted misleading advice given to borrowers by contracted administrator, FedLoan Servicing, regarding Public Service Loan Forgiveness (PSLF). The issue focused on four people who worked for employers that were not 501c (3) or […]
Student Loan Borrowers Need an Advocate
There has been increasing attention around the poor customer service provided by loan servicers. Some are being sued by government agencies, advocacy groups, and private parties for giving borrowers misinformation, mishandling loan forgiveness applications, placing borrowers on extended payments with compounding interest that make paying off student loans feel impossible, and charging borrowers much more […]
The AMA Steps Up in Support of Public Service Loan Forgiveness
Easing the student loan burden has long been an American Medical Association (AMA) priority and the #1 priority of Fiducius. “On June 15, 2017, the AMA adopted new policy supporting expansion of the Public Service Loan Forgiveness program (PSLF) to residents at for-profit institutions, while affirming its stance against putting a cap on the loan […]
The High Cost of DIY Loan Forgiveness
Understanding the complexities of Public Service Loan Forgiveness (PSLF) is daunting. According to a report from the Department of Education (DOE), “Despite an estimated 42 million federal student loan borrowers, only 139 have fulfilled the eligibility criteria needed to have their loans forgiven at any time over the next two years“. We hear it all the […]
6 Ways to Achieve Freedom from Your Student Loans
Sometimes conventional financial wisdom isn’t always the best advice for YOU. If you work full-time for a nonprofit 501c3 or government agency and have federal student loan debt, Public Service Loan Forgiveness should always be your first defense against overwhelming student loans. Choosing other options below before determining your eligibility and benefit could end up […]
Financial Stress, Student Loans and the Workplace
The American Psychological Association issues a report on stressors in America each year. Financial stress consistently holds one of the top spots. Employees struggling with the burden of student loan debt are more likely to have damaged credit, wage garnishments, mental health problems including depression, anxiety, anger, and physical ailments such as migraines, back problems and more. […]
Are You Too Busy for Financial Wellness?
Writing a blog about being too busy wasn’t on the to do list today, because it’s already packed with too much stuff to do! Then I came across this article on Lifehack, “Take A Moment And Read This Because You Might Be Too Busy Doing Nothing In Your Life.” The Lifehack article briefly describes a […]
The Quest for Financial Wellness: Saving for Retirement
The main goal of saving for retirement is to ensure you have enough financial resources available when you stop working to improve or sustain your current lifestyle in retirement years. How much you need to save will depend on how you want to spend your retirement. Do you want to travel, do you want a […]