Navigating the Maze of Student Loan Forgiveness

If you're saddled with student debt you could have some help coming… if you understand the deadlines, the waivers and tax implications... Let us break it down for you.

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The Department of Education announced a short-term opportunity for expanded loan forgiveness in an effort to remedy the past administrative failures and inaccuracies of the federal forgiveness program. The changes, which will impact the Public Service Loan Forgiveness (PSLF) and Income-Driven Repayment (IDR) or long-term forgiveness programs, are expected to bring millions of borrowers closer to student loan forgiveness. However, deciphering the eligibility requirements can be very confusing for borrowers.

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Disclaimer

This article is for informational purposes only. Nothing herein constitutes tax or investment advice. The information provided is as of the date produced, and over time may become inaccurate due to changing laws and regulations. Urban Wealth Management Group LLC is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Urban Wealth Management Group LLC and its representatives are properly licensed or exempt from licensure. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered unless a client service agreement is in place. Urban Wealth Management Group provides links for your convenience to websites produced by third-party providers. Clicking hyperlinks will take you to their website that is not affiliated with Urban Wealth Management Group. Urban Wealth Management Group is not responsible for errors or omissions in the material on third-party websites, and does not necessarily approve of or endorse the information provided. Users who gain access to third-party websites may be subject to the copyright and other restrictions on use imposed by those providers and assume responsibility and risk from the use of those websites.

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Derenda King, CFP®, CSLP®
Financial Adviser, Urban Wealth Management

Derenda King is a CERTIFIED FINANCIAL PLANNER™ professional, Certified Student Loan Professional (CSLP®) and financial adviser with Urban Wealth Management. She is also the owner of Collegiate Financial Coach, LLC, which provides financial coaching to families with college-bound students who need assistance with developing a college funding plan and to individuals seeking strategies for repaying their student loan debt. Prior to becoming an adviser, Derenda worked in higher education, and she is still an educator at heart. She provides comprehensive, holistic financial planning services, with an added focus on late-stage college planning, and is passionate about educating, empowering and equipping individuals with the knowledge to make more informed decisions about their money.