List of US universities where you can study for free

This time I will introduce American universities where you can study for free. So if you are interested in this topic. Continue reading this article. The first thing I want to say is that there is no free education in America. All universities will ask you to pay. And they will spend a semester on the network. And the tuition fee is said to be $23,000 per year. Alternatively, at a famous university, it can cost as much as $200,000, but I think the American education system is good because there are many scholarships for talented students and they can study for free.

This happened when she received a full scholarship to her MBA program at the University of Florida. They offered to help me with everything, including tuition and housing, but I didn't accept the offer and decided to start my own business. This is another issue. Anyone who subscribes today probably knows this.

I would like to share a list of universities that offer financial aid. I would also like to touch on the university's student profile. And it is very difficult to get financial support for these profiles. This is because financial aid is provided to special students. Especially if you're talking about a middle-class university with really talented and really smart students, every nationality has an impact on your profile and should rank high. 2 Russians or 2 Indians

Therefore, they try to diversify their investments and mix different nationalities as much as possible. Because, as I said, this affected their ranks and elites. More support for the country, and more support for them. Family donors are like students who graduate from college, get a good job, and then donate to the university. Last year, the United States welcomed 1 million international students, the majority of them from India and China. If you are not from that country, you have an advantage

For example, let's say you're a woman from Kazakhstan. Or a woman from Uruguay? The number of agents will decrease. And every university wants women. Because you know that equality is important in America. They are 50% male and 50% female and seek talent from every country in the world. Therefore, the chances of China and India gaining access and financial assistance are high. On the other hand, if you are Indian and have an IT background, it will be very difficult. Therefore, the scores on tests such as TOEFL GMAT GRE must be very high.

Financial Aid The first group of universities are universities. The first league was Stanford University and Harvard University. You probably know the name. It echoes in everyone's head and they can have very high positions and good jobs. And these universities do not consider your qualifications or financial strength.

Would you apply to Stanford if you got accepted? Did you get accepted to Stanford? And Stanford asked you. What is your family's annual income? If that number falls below $65,000, Stanford University says it will "offer financial aid."65,000 or more per year can support education. Here's how we partner with leading universities:

They do not offer scholarships based on merit. And I didn't say, "Normally I don't pay." They often offer grants and financial aid. Therefore, they only consider your financial needs. It's not a mental ability. If you can get into Stanford, MIT, or Harvard, there is no doubt that you are truly talented. And I studied hard to get into other universities. Regardless, those universities are good and highly ranked. However, we will consider applying for different types of financial aid. By evaluating your mental abilities, performance, and work experience. 

When it comes to universities, it's something like the University of Chicago. University of Florida University of Illinois These universities offer excellent financial aid, so there are many opportunities and scholarships available. If you receive a scholarship, you don't actually need to pay anything to start studying. However, if you receive a scholarship, you will have to work 10 hours a week.

You can help the teacher by talking or doing administrative tasks such as answering questions or checking other international students' questions, but helping means you are doing something good for the school. These colleges will pay tuition and give you money and aid so that they know whether you are very good or bad and only know what is possible. You get financial support. For this reason, you will receive financial services from the university. When we're not talking about Stanford or Harvard as Ivy League universities, we're talking about the University of Florida, Michigan State University, and the University of Chicago, and make sure your application is good. It is important to note that PhD students are funded in 90% of cases.

When you apply for a PhD program, no matter which school you apply to, it will cover all your school fees because if you get a PhD, it means you can go back to school and do certain jobs and jobs. School. When we talk about undergraduate students, I can mention to you - yes, they get financial support, but I can't say that 90% of students get money, but it is possible - and there are many options for postgraduate studies. For undergraduate studies, we will talk about the BSC program. That was really hard. My company helps people get into American universities, and we have a lot of cases where students get help while they're in college, which is very rare, because when a freshman comes out of school, you don't know how. Education is work and working 10 hours a week isn't fair.In addition to tuition, support for graduates is not much, but scholarships are the most common form of financial support for higher education. We had a student who received a full scholarship to Yale. He is really smart.

I would say 5-10% of students are paid. You must be eligible for financial aid for your undergraduate degree. There are also colleges that offer help to everyone. One of these schools is Berea College. In fact, the in-state pay is $23,000 per year. They support all students and you pay $1000 in tuition and it's almost free.

Most of these universities ensure that you are in the United States for work and travel. If you have difficulty entering the United States, are denied a visa, or are deported, we hope you will not be deported. If you have trouble crossing the border into the United States, you will almost certainly be denied a free visa to attend college. I hope there's no problem if you get accepted to Stanford and Harvard, I'm not an immigration visa expert, I'll talk about the situations we've gone through and make sure there's no visa problem if you get into the university. Funding for all.... I also want to give you some numbers: Some colleges give Berea College $22,000 for everything, the University of Chicago gives $48,000 and $45,000 in tuition.

There are many students who pay partial fees and full fees. It is worth trying to enter the University of Chicago, Yale University offers $ 55,000 per year. Our students earn 60k per year. He holds a position at Duke University. It saves $53,000 every year.

The best thing to do is to ask a school how much they offer, they will have information about this area as well. Let me know if you have any questions about this, feel free to write a comment. I will try to answer all questions: If you need help getting into American universities, I am ready to help you. Since many of you are looking for advice about choosing a college or getting on the road to getting financial aid, I usually just comment and leave the link below. So if you are interested let me know and link below.

Don't hesitate to apply. When they consult me,

Earn A Masters In Social Work Degree | 5 Things to Consider in MSW Degree

 

Hey everybody, it's monica and welcome to my channel where i help social workers. Therapists and healthy professionals deepen their level of self-awareness, while increasing their competence and confidence in the profession. So for today's article we're going to be talking about five things that you should consider if you're thinking about earning your msw degree. So if you're interested in this topic, then please keep watching i'm anika, thomas, the founder and clinical social worker at kendrick connections therapy center. I'Ve been a social worker for over 12 years, i decided to do an entire youtube channel on my journey from cubicle working social worker to successful entrepreneur.

So when you're thinking about earning your msw degree, there are so many things to consider. So i'm excited that today's episode is sponsored by socialworkdegrees.org powered by wiley. Socialworkdegrees.

rg is a comprehensive resource that allows you to explore colleges and universities that offer degrees in the field. So, whether you're, just starting your social work, career or you're, looking to advance your career, socialworkdegrees.org offers a wealth of industry and academic knowledge to help you achieve your professional goals and the reason why i like this platform is because they have a plethora of degrees depending On where you are in your social work career, so if you're looking to acquire your associate's degree, your bachelor's, your master's or your doctorate, you're sure to find a program, that's a good fit for you not only that, but they also provide state listings. So you can find schools for msw or a bsw within your state. They also have information on social work.

Licensure, and i know a lot of you have questions on that. So take the next step in your social work, career and visit their site today to learn more so, let's get into the five things that you should consider now these things are not in any particular order. There are just some things that i want you to keep in mind as you're thinking about transitioning into a master's degree program. The first thing that i want you to think about is the program length. Meaning do you want to do a full-time or a part-time program?

So, as you know, the msw degree is a master's level social work degree. So it's going to provide you with some advanced level coursework, and it's also going to give you the opportunity for specialization within the field you're also going to gain relevant practical experience. So be thinking about what type of work you want to do, because that's going to determine where you will do your practicum in your master's degree program. So if you complete a full time program that can take you about three years to complete so for you, you want to be thinking about what skill set. Do you want to develop?

Do you want to work more with an administrative track? Do you want to do more macro level, social work or micro level, social work or on a community level or working in schools, so really give it a lot of thought now, although you can change your specialization, it's always good to have a really clear plan around What you want to do before you get started, so some programs offer an accelerated program or an advanced standing program could be another name for it, and that's actually the program that i completed.

So i was able to get my bachelor's degree in social work which took me four years to complete and then, after that i did an advanced standing program where it took me one year to get my master's degree and the reason why it only took me one Year is because i had already completed the master's level coursework in my last year of my undergrad degree, so those courses were transferable, so i only had to do one more year at the graduate level. So because this is an accelerated program, you can end up taking more classes in one semester than you would in a traditional school year. So if you work full-time going to school, full-time might not be an option for you.

When i did my advanced ending program, i didn't work, i was able to focus strictly on school and then, after i graduated is when i focused on getting a job. So if you're working full-time, you might want to consider a part-time program so with the part-time program that can take you anywhere from four to five years now, with the range of programs that are being offered. Currently, you can also take weekend classes evening classes so really find out what meets your schedule when you're thinking about the program length.

So the second thing that you want to consider is specialization, so you want to think about what social problem, what issue within society? Within your community or within your cultural group, do you want to focus on working in so you want to think about what are those things that cause you frustration or anger, or you just don't understand why things happen to certain communities in the way that they do And you want to play an active role in advocating for change in those areas.

Now again, that's a very micro level focus. So you want to think about the level of specialization that you want to enter in within the field. So, within your specialization, you'll have the opportunity to work within a school, a hospital, a community mental health agency, a non-profit organization, an after-school program at the government level. So the possibilities are endless. It'S all a matter of where your skill sets lie and the impact that you want to have within the community and within a particular group.

The benefit and the beauty of having an msw degree is that you have a range of things that you can do. So if you were to do more of an administrative track, you would have more of a leadership capacity, so that means you would be a program coordinator program director, a community engagement manager or a program manager. The third thing you want to consider is: do you want to complete an online program, an in-person program or a hybrid, which would be a mix of the two so really think about the location and the area where you're located and whether an in-person program or online Program will be best for you. Also. What you'll need to take into consideration is the program that is in your area.

Do they offer the type of specialization that you want, so every school doesn't have the same type of specialization, so you're going to have to look at different programs to see what they offer. So when you're thinking about in person or online, you really want to think about your learning style.

What is the best way that you consume information? Do you like working in groups when you're able to have interactive conversations in a cohort and able to meet with your classmates face-to-face, or are you an online learner where you can handle self-paced work now that might require a little bit more reading a little bit more Opportunity for you to work on your own um, so you really have to think about what learning style do you have and then choose the program that best fits that now, regardless, if you choose an online program or an in-person program, the coursework is pretty much going To be the same, i will say, whichever program that you choose deciding to start an msw program requires a time commitment and it requires dedication, so really think about your life.

Think about the capacity that you have think about all the roles and responsibilities that you have going on currently and decide whether or not this will be a good option for you, because what you don't want to do is to start the program.

Then, to stop the program and start again and stop you really want to think about. Do you have the time to commit now, just because you stopped the program that doesn't mean that you can't pick up later. I just know from my experience of talking with and working with, msw students, it's always harder to start a program again once you stopped so really think about. If you have the time to dedicate to this now, what i did. I went into my master's degree program straight from undergrad.

I knew that i didn't want to take a break. I knew i didn't want to do a gap year. I knew that i wanted to go straight from undergrad and finish my graduate degree, so i could go straight into my career four, and this is the most crucial phase. You want to ensure that the program that you select is an accredited program. So what that means is you want to ensure that your program is accredited with cswe?

So cswe is an accrediting body that ensures that your program has met a certain level of rigor, and this is what 98 to 99 of employers are going to be looking at. Did you get your degree from an accredited program, so you definitely want to check to make sure before you apply for your program that the program is accredited. Accreditation is also important when you're looking to transfer or move to another state. It makes it a lot easier to transfer a degree from an accredited program to another state than to try to transfer one. That'S not because the accredited degree is going to ensure again that the program met those specific standards and it's going to be easier to transfer.

Those credits to a different state and lastly, i want to provide you with some application tips. So, when you're applying for your msw program, these are some things that you want to have in place before you apply, or that you want to be thinking about when you're ready to apply. So, first you want to make sure that you read through the full application for the msw program to ensure that you meet the gpa requirements and that you're applying for the program during the time frame that's required for you to be accepted. You also want to think about the application fee that might be due so sometimes there's a waiver that you can get um. So you don't have to pay the application fee, but you want to have your money ready and prepared when you're ready to submit your application.

A few other things that you want to have in place is one you want to make sure that you have a resume two. You want to make sure that you have your undergrad transcripts now, if you owe any money in undergrad, it's going to be hard. You'Re, probably not going to be able to get your transcripts so make sure that you don't owe money because they won't release your transcripts. If you owe before you wrap up your bsw degree, you want to talk to key people at your college or university, or you want to think about the employer where you're currently working, who can provide a letter of recommendation for you, because that'll be something else.

You'll need when you apply so most often you'll need about two or three letters of recommendation so think about those key relationships that you've been able to build, and those are the people that you want to ask early to be able to sign your letter because sometimes It can take a really long time to get those back.

Some schools do require a gre, but when i applied for graduate school that wasn't a requirement so just check your program because that may or may not be required and then lastly you're going to have to write a purpose statement. So the purpose statement is going to be a short essay, letting the college know why you want to be admitted into their program. So you want to reflect on why you want to earn an msw degree. What inspires you or motivates you about the social work profession? What prior experiences have led to your decision to become a social worker and what qualities do you possess?

That can be a good fit for the field, so you really want to communicate your desire and your hope for social change again. What social issue in the world do you hope to impact in a positive way, so you want to be very concise, but also compelling, so those are just a few of the key things that you want to consider before you apply for msw program. Have these things in place have a clear plan in place on what you want to do, where you want to go the location that you're thinking about the length of the program is the program accredited all the things that we talked about today and i'm telling you If you keep these things in mind, it'll make your journey in path to earning your msw degree a lot easier. So, thank you so much for readingthis. article again, i want to thank the sponsor of this article socialworkdegrees.

be sure to visit their website, to learn more about your msw program, your bsw program to look for programs within your state and also to look up licensure information and i'll leave. A link below in the description so that you can check out their website. Thank you all so much for watching and, as always be well.

Don't Wait - 3 MUST-DO’s for PSLF (public service loans forgiveness)

Hey smartypants: if you're going for Public service loan forgiveness, are you sure you're doing the right things now, because what you do now does make a big difference to keep more money in your pocket during your payment period.

That is to say now so that you don't have any nasty surprises when you go to apply for Public service loan forgiveness in this video, I'm gon na break down what most people going for pslf should be doing right now, I'm Kate, the money librarian helping you Feel smart about money, please be sure to like and share this video with someone you know who is working for a non-profit and has student loans. This is for educational informational purposes, only talk with a financial professional to find out what is best for you.

First, off what most people should do is pay as little as possible during repayment. Consider this scenario: would you prefer to pay 180 a month towards your student loans for 10 years and then have them forgiven or pay 480 a month every month for 10 years, and then have your student loans forgiven, which would you choose 180 every time Public service Loan forgiveness pslf takes 10 years 120 payments to get no matter what your balance is.

After 10 years, it's going to be forgiven. You won't get a gold star or bonus points or extra credit. If you paid any more, then you have to you'll just feel like you could have used that money for other stuff. That'S why? If you're going for pslf pay as little as possible during your repayment period, those numbers I just mentioned were made up.

Depending on your student loan balance and current income, you will have different payment options. You can find out how much you'd pay on different payment plans. If you go to the loan simulator calculator Link in the description, there are a few different payment plans. That'Ll work for pslf get the one where you pay. The least they are in the process of rolling out a new student loan payment plan, depending on your family size and income.

You may pay as little as zero dollar dollars to half of what you currently pay be sure to subscribe to this channel as I'll be talking about it in detail. Once it's out hey, I have a free student loan forgiveness cheat sheet. That gives you a quick overview of 13 different federal student loan forgiveness programs.

What they are, how to qualify even traps people fall into get that link in the description number two send in that pslf form yearly and many years ago, before I got into this business, I would hear Finance people say send in your pslf form yearly and I'd Be like why you're not getting it for 10 years, so why would you send it in every year? It doesn't make any sense it's because they are trying to confirm 120 of your payments for Public service loan forgiveness.

So if you only send in that application at the very ends, they have to go through a 120 different payments make sure each and every single payment makes or matches all the qualifications that you need to get Public service loan forgiveness and for most people over that Long time period things will have changed, maybe you'll have Consolidated or used different payment plans worked for different organizations went into forbearance.

All kinds of stuff will have changed during that time, and you just don't want to have to go back 10 years to make sure that those old payments qualify by sending in the pslf form every single year. The payments you made during that time. So those 12 payments will be marked as qualifying or not qualifying. Don'T wait, 10 years to send in the form just to find out that eight years ago the loans you had weren't the right type or your employer doesn't actually qualify see.

The thing is just because you work at a non-profit doesn't mean that you work for a non-profit. It is totally possible to work at an non-profit, but not for a non-profit. Whoever signs your checks is the person that you're working for or the organization you are working for, and a lot of non-profit organizations, Outsource, particular jobs to for-profit companies. And if your paycheck comes from a for-profit company, you won't qualify for pslf, and you won't know that unless you actually put in that application, just because you have federal student loans doesn't mean you have the right kind of federal student loans.

Just because you are paying your federal student loans back doesn't mean you are on the right payment plan.

If you're, depending on getting pslf, you need to know that all of these payments you are making are actually qualifying. I know it's one more damn thing to do, and none of us need that, but if you can get your entire student loan balance forgiven, it is worth it so just send in that application, I'll, put Link in the description every single year.

The third thing you should do if you're going to go for Public service loan forgiveness, get your money back. Follow me here. This one is very time sensitive if you've been in qualifying employment during covet for Public service loan forgiveness and your loans are part of the payment pause.

The covet payment student loan payment pause these months qualify for Public service loan forgiveness, whether you're, paying or not. So maybe you've been paying because you want to pay down your loans, but if you're going for pslf, there is no reason to pay down your loans, as I mentioned earlier, just as earlier, when I said, would you rather pay 180 or 480? Well now we have the option of zero dollars and zero, for you to pay is better than any of the other options.

So take it. If you paid your federal student loans back when you didn't have to because of the coveted payment pause, what you want to do is total up how much you paid call your student loan servicer and ask for your money to be reimbursed.

I have another video on how you can do that and more about the reimbursement program future. You will thank you for getting this done now.

The rules are changing so be sure to check out the department of education's website to learn the most recent updates to Public service loan forgiveness like share subscribe, do all the things and please let me know in the comments if you found this useful or have any Other money questions.

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What Happens When You Default On Student Loans? | Student Loan Planner

 

What happens when you defaulted on your student loans, and you don't know what to do that happens to be a lot of borrowers all across America, and the first thing I want you to know is: if that has happened to you don't stress, this is not a Life altering destroying kind of thing that can happen to somebody, because it is something that can be recovered from it's a fairly straightforward process to to not have this destroy your financial future.

But here's what to expect when you have defaulted on your student loans. First, off the weight alone gets into default. Is it goes first into delinquency? What that means is, after 90 days of a late payment, a servicer is going to report to a credit agency that you have made a late payment on your student loans.

That'S a delinquent student loan status. They'Ll certainly reach out to you to try to get that corrected to try to get you to make that payment on that loan, but that is the first step on the road to default. It'S about three months now, if you look at the period of default, that's about 270 days.

So, if you're looking at that amount of time, it's roughly nine months right and after 270 days of non-payment, your loan is declared in default and it basically gets turned over to groups that try to remedy this, and these groups are not that effective. Not that helpful.

Even compared to one servicers in a lot of cases, they're not particularly good in my experience - and these are the options for federal loans that you're going to be looking at for federal loans. You definitely don't want a default because they can garnish your wages. They can garnish your tax refunds, they can even garnish your social security, so you're not going to get out of it by defaulting on your federal student loans.

Furthermore, the garnishment is usually at about fifteen percent of your income and page one and revised pay-as-you-earn are two options that are available to most borrowers. Those payment plans allow you to pay ten percent of your income, so if you're truly broke and you're in default, then one of the worst things you can do is actually default, because the IRS can just take the money, not the IRS, rather the department education.

But that's what people think up right so anywho! What happens is that's what happens when you go in to wage garnishment? They take any refund that you're expecting on your taxes that you getting they're gon na. Seize that it's just really an unpleasant process. Now, the way out of that is through rehabilitation or consolidation, so rehabilitation is a nine-month process of you.

Making agreed-upon monthly payments on your lungs, often they'll, be kind of driven by your income or there'll, be some sort of set amount and you'll pay that for nine months and the benefit of a rehabilitation is the loans can kind of go back to the way they Were in the sense that that credit report kind of gets expunged of that negative event, that happened so, in other words, all that negative stuff that happened on your loans comes off your credit report and you're free from that, impacting you financially now.

That is a very difficult process, usually when people are in default there's different reasons. Some people are truly struggling. Other people are just just blown away from the complexity of our student loan system and they're so stressed out, and they just don't want to think about it. No matter what they just try to not have it enter their mind because it just gives them extreme anxiety every time they think about their loans.

And if that's you, then rehabilitation might not be something that you're gon na be able to do. Well, you might have to do instead is something called consolidation, so you might have to consolidate that loan from a defaulted status to a new consolidation loan.

The benefit of that is it's going to give you an additional three years worth of forbearance, which does not count towards default, and that also is going to allow you to sign up for income driven repayment programs, and it will not take that default off. Of your record, but it will make it a lot easier to make payments, because you'll have one big loan at one place, instead of a whole bunch of loans, a lot of different places and it's going to make the process of signing up for income-driven repayment. A lot easier as well your year, so if you're in default get help, here's also a free phone number to call at the Department of Education.

That number to call is eight hundred sixty one three one, one five that number, if you call it, is a group of feed people at the Department of Education that are dedicated to helping defaulted student loan borrowers. I would definitely give them a call and ask for an explanation of rehabilitating your loans if you can, or if you cannot do that, that's just too stressful, for you just ask them for help.

Consolidating your loans and default do not default in your student loans at least: do not keep them in default long-term. The government's eventually going to get their money and for private student loans. That is a little bit more complicated.

That is something that usually a court is going to sue you and get a basically a judgment or a you know, decision against you for having to pay back some of that money. You really cannot get out of private student loans that easily. There are, however, some attorneys out there that do exist that you know are able to help people get get negotiated. Deals with these private loan companies, but know that usually those settlements are ninety cents. On the dollar, it's pretty uncommon.

To have your defaulted private student loan completely wiped away unless you're in extreme financial circumstances, so federal loans are the worst to default on private loans are still bad to default on. But if you do, you probably have a little bit more recourse that you would need to consult with an attorney. So thanks so much for reading I'm Travis with student loan planner

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How to Get Federal Student Loans Out of Default: Student Loan Lawyer Explains

welcome debtors and borrowers to my blog because debt ruins lives, not bankruptcy. My name is matt burkus, i'm a colorado bankruptcy and student loan relief attorney and today we're going to answer the question: how do you get your federal student loans out of default status, so we're going to address what is default and when does it happen?

What are the consequences of your loans going into default and then, lastly, how to get your student loans out of default status? So you can resolve your issues with your student loans, one of the most frequent things i do.

I counsel clients on is getting their student loans out of default status.

I do offer consultations to people nationwide to talk about their student loans and try to get them on the right track with what to do about their student loans. So let's talk about student or federal student loan default, so federal student loans can either be delinquent or in default.

Now default is the bad thing. Delinquent just means that you're behind on a few payments default is triggered when you've gone nine months or 270 days without making a payment, and once your student loans are in default status, you can't just call your servicer back up and just get back on track. There'S a process to it.

In addition, once your student loans go into default, they're generally going to be transferred to a different service or a collector or default servicer, when that happens all right, so so what happens? So what are the consequences? If you let your student loans go and default well, they're, not good! All right! The federal government, the department of education can authorize wage garnishment of up to 25 percent of your wages.

The most common thing that they do is intercept any tax refund that you might do so. Wage garnishment and tax refund intercept are the most common. They can also offset any federal benefit, and this is particularly crucial when it comes to social security. They can garnish social security for defaulted student loans. You can't get any new federal student loans or federal grants for education.

While your student loans are in default, collection fees are going to be added and those can range anywhere from you know, 15 to 25 percent of your outstanding balance. Depending on what type of profession you're in you might have your license suspended to practice that profession, you will probably lose a security clearance. If you have one and then the last resort that the federal government has is they can't actually sue you for defaulted student loans?

However, that's exceedingly rare, i think i've only come across it once where someone had a judgment against them for defaulted student loans, because they can do all this other stuff to you without getting a judgment. So it's really not common for them to do it, but it is a potential consequence of having your student loans in default for an extended period of time.

So you really do want to avoid allowing your student loans to go into fall. So, okay, you know, life happens, your student loans, your federal student loans, are in default. Well, what can you actually do about it? Well, there's two well technically three ways to get your student loans out of default status. Of course, the easiest way would be just to pay your student loans, but you probably wouldn't be reading this article.

If you have the ability to just pay off your student loans, but obviously paying off your student loans would get them out of default status. So the plan a option or the first option is consolidation, so if you can still consolidate your loans, that will get your your federal student loans out of default status now the catch, of course is you have to be eligible to consolidate your federal student loans.

So if you like, a lot of people when you graduate from whatever program you're in most people, will reflexively consolidate their student loans at that time, and you can only consolidate your loans once generally speaking. So if you've already consolidated your loans - and so your existing loan is a direct consolidated loan, then you can't use consolidation to get your loans out of default.

However, there are, there is an exception to that, and the main exception is, if you have other loans, that weren't part of that initial consolidation that you did and that those loans would be eligible for consolidation.

Then you can reconsolidate all your loans and get your loans out of default status. We don't really see that that often, i suppose it would come up where someone who got a bachelor's degree consolidated their loans after they graduated.

Then years later went on to graduate school and then defaulted on their student loans after graduates, after graduate school, they might be able to reconsolidate all their student loans and get themselves out of default.

The benefit of using consolidation is that it's instantaneous, i mean, as far as how you actually do it you just either log in to your servicer or call whoever's, servicing your loan and just ask to consolidate your loans, and they will run the program to see if You are eligible to do it and the other catch here is: if you have older loans, you might have a few options if you have the older loans, which are the ffelp or the federal family education program loans, so these are loans that pre-date 2010, primarily.

So if you have loans that go way back, you might be eligible to take those old ffel loans and consolidate them into a direct loan, and then that will be the consolidation to allow you to get out of default status.

So there's two ways you can do: an ffel consolidation, loan or ffel consolidation into direct loans. One is if you're trying to go for public service loan forgiveness, the others, if you're trying to get on an income driven repayment plan, but there's specific requirements for that and the servicer will have to walk you through whether you're eligible to do that.

On your older loans, however, just understand that there will be a collection fee added to your um student loans of up to eighteen point: five percent of the outstanding balance. So if you have a hundred thousand dollars in student loans, you're gon na have a collection fee of 18. 500 are up to that amount when you rehab, when you consolidate your loans, but it's not like you have any other option.

Okay, but so if you can consolidate your loans, that's really what you want to do to get your loans out of default status. But, as we said, most people have either already consolidated their student loans. They'Re not going to be or are not going to be eligible to consolidate their student loans.

The second way to get your loans out of default status and the most common way is what's called federal loan rehabilitation. So rehabilitation requires you to make nine voluntary and timely payments on your student loans as far as how you actually get rehabilitation again, you just call your servicer and specifically ask for loan rehabilitation, and the first thing they're going to do is: do an analysis of your Income because you have to make nine payments now, that's not nine payments of whatever your um original student loan payment is.

The only guidelines are that the the rehab payment must be reasonable, so the default formula is basically 15 of your adjusted gross income. Over 150 percent of the poverty level, okay, so that's the default formula, so they'll ask you to see for your tax return or what that number was that adjusted gross income number and then run a formula to come up with that 15 over over over 150 of The poverty level um - that's not the only way to do it. The other way is to actually do a specific income and expense worksheet as well, so the payment can be quite flexible for rehab and i've seen payments as low as five dollars a month.

So it's really just a quick negotiation with them to figure out what the monthly payment is. Then the servicer needs to send you a written agreement outlining rehabilitation and, like consolidation, there's going to be a collection fee that gets added, but that gets added at the end of the nine months once you complete the program.

So once you get the written agreement, you make the nine monthly payments and then your loans are out of default status. Now, there's going to be a delay, however um, because what happens is that once you complete the rehab program, the loan is then packaged and given to uh another servicer or non-default servicer to take over and we've seen, delays in that happening. That can take quite a few months, so i tell people to expect about a year for loan rehabilitation for the entire process.

A couple things to note about loan rehabilitation: you can you don't get charged a collection fee if you can rehab within 60 days of going into default. So if you're proactive about it, if you realize your loans have gone and default, you can get out of paying the collection fee or having the collection, be added to your balance by rehabbing within 60 days of collection and then, in addition, your credit report will also Be updated to reflect um that your loans are out of default status, but that doesn't sound as good as it is it that doesn't sound as good as it actually is.

It'S like yeah. Your loans are going to be put back in good status, but all the negative information that was there before from the default, such as the missed payments, the prior collection services, going to be on there. Those are still going to be on your credit report until until they fall off the credit report, naturally, which for missed payments, is three years for default status. That'S uh, seven years, but again you don't really have much of an option here. The benefit about getting your student loans out of default is, and that opens up all the payment options for you um.

As far as getting your loans back on track, so you can do any of the income driven repayment plans uh, you can pursue any of the various forgiveness options depending on what your profession is and what your your employment situation is, and i would certainly recommend that. So, there's really no good reason to stay in default status.

You really want to get your loans out of default status because there's just a lot of bad things that can happen to you and, let's be honest, they're not going to go away. I mean you know. Whatever the political climate is, there isn't the quite the motivation to see broad-based student loan cancellation, so i think, instead of wishing for sort of the white knight to rescue you from your student loans, you should be proactive about getting your student loans on a pathway to Resolution and the only way to do that is to get them out of default status and once they're out of default status, then you can go on and do one of the income driven repayment programs or seek one of the specific forgiveness options.

All right. My name is matt burkus, colorado, bankruptcy and student loan relief attorney. I do offer initial consultations to discuss student loans with individuals. Those consultations do cost 169 dollars. However, we can usually either get you pointed in the right direction or we'll be able to offer something to you, uh services, to you in order to assist you with dealing with your student loans.

Best of luck to you,

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