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Speaker 2: We with muties.
Speaker 3: What up?
Speaker 2: What up? Glorious Wednesday, last day of August.
Speaker 4: Shout out to Detroit.
Speaker 2: We're here. It's like the home team man too.
Speaker 4: What are we doing?
Speaker 2: Beautiful day in the city.
Speaker 4: What are we doing.
Speaker 2: At home teams here?
Speaker 4: Yeah, we put the back call out.
Speaker 5: Shout everybody that was watching that Ransom Jams episode, very informative.
Speaker 5: Shout everybody that tuned into episode two hundred yesterday with
Speaker 5: Jamal King. Another legendary one. Shout out to the city
Speaker 5: of Detroit. We got something special on the way. What
Speaker 5: up though, and shout everybody that tune into the legendary
Speaker 5: market Mondays is Monday, another classic, Love is Love?
Speaker 2: We got a special one today, another one.
Speaker 4: Just keep going. Man twenty four our news channel, we
Speaker 4: just had We just had Matt and Keanu Watson on.
Speaker 4: They just wrapped up about a half an hour ago,
Speaker 4: dope episode of Rants and Gyms covering I think of
Speaker 4: America's new program that's no Money down mortgages. So that's
Speaker 4: big and right back, right back, like we never left.
Speaker 5: Yeah, I'll be interested. How many people things going that
Speaker 5: trend starts? I mean final institutions you think picked that up?
Speaker 4: I don't know.
Speaker 5: It's gonna be interesting to see. Had the home team
Speaker 5: is here, sam My dog, what's going on? I see
Speaker 5: you in here. It's gooody about to start. Shout to
Speaker 5: all my educators out there that have started their new
Speaker 5: week of their first week of school, Shout out to
Speaker 5: all those that will be starting next week. I know
Speaker 5: when we get to that late August feeling, it's that
Speaker 5: that anxiety kicking. It's time to start to show again.
Speaker 5: So happy New Year everyone that's going back back into
Speaker 5: the building and doing the job, the most noble job
Speaker 5: in the world, and that's educating all youth.
Speaker 2: Shout out to all of y'all. Love is love, yeah
Speaker 2: for sure.
Speaker 4: So all right, we're not even gonna waste too much
Speaker 4: time as we wait for Sonya to come in. Well,
Speaker 4: let you know what's going on here. So eyl University
Speaker 4: online platform that we created over two years ago, which
Speaker 4: has grown to be one of the largest communities online
Speaker 4: hands on education. We do weekly classes, we do weekly
Speaker 4: uh investing trading session shout out to Chris. We do
Speaker 4: monthly financial planning calls, we do book club, movie club,
Speaker 4: real estate call to the mt the mortgage car it's
Speaker 4: the whole community that we've been able to assemble. So
Speaker 4: we do with these with these what's called open enrollments.
Speaker 4: So the last Wednesday of the month, we we open
Speaker 4: it up and we put it on YouTube and it's
Speaker 4: just you know, kind of peak into the window of
Speaker 4: what we do on a weekly pretty much a daily
Speaker 4: basis at EYL University. So it's something that you know,
Speaker 4: we try to just, you know, like I said, show
Speaker 4: people exactly what's going on. If you're interested, then you
Speaker 4: can join Voyo University. The biggest everything we do is
Speaker 4: the biggest. So today's topic is something that's extremely timely
Speaker 4: and I'll put a post up last week about Joe
Speaker 4: Biden's student loan forgiveness program plan and it was very
Speaker 4: well received. They got like over five hundred thousand views.
Speaker 4: So what I talked about was his plan to forgive
Speaker 4: ten thousand dollars to do loans if you make under
Speaker 4: one hundred and twenty five thousand dollars and up to
Speaker 4: twenty thousand dollars for Hell grant recipients that fit the
Speaker 4: same income criteria. So being that you know, that's something
Speaker 4: that's fresh out the news and it's time sensitive as well,
Speaker 4: we thought that it would be a good topic to
Speaker 4: cover tonight. So reached out to Sonya who is a
Speaker 4: student loan specialist called student Loan Doctor. She's an ey
Speaker 4: L alumni and she actually just came from investments. She
Speaker 4: did invests. Well, so anybody that was at investments and
Speaker 4: got to see her talk. You know, she gave a
Speaker 4: bunch of information. Actually was able to go up there
Speaker 4: by herself and speak for about forty five minutes. Had
Speaker 4: a presentation how to boofit invest fest also, so anytime
Speaker 4: that we get a chance to connect with Sonya is good. So, yeah,
Speaker 4: this is going to be one of those very very
Speaker 4: informative conversations. I'm sure that she'll provide a you know,
Speaker 4: a ton of information and also at the end we'll
Speaker 4: be answering some questions because I'm pretty sure that a
Speaker 4: lot of people have questions in regards to student loans.
Speaker 4: And if you don't have a question, then you might
Speaker 4: be able to learn from somebody else's question. So there's
Speaker 4: something that you know, definitely definitely looking forward to.
Speaker 5: Sure, there are forty three million people who have student
Speaker 5: loan debt, and I'm talking about all of us because
Speaker 5: I am one of the us. I have STD loan debt,
Speaker 5: So even I have questions, right because things change, and
Speaker 5: every time change happens, there needs to be new explanations.
Speaker 2: So I got some questions. Hopefully we can get some answers.
Speaker 5: I've read a lot about it, just because I'm interested
Speaker 5: I'm actually going through the process myself.
Speaker 2: If you listen to an episode.
Speaker 5: Which probably like over a year ago, I had applied
Speaker 5: for loan forgiveness just being in public service, working for
Speaker 5: thirteen years, ten of them being in Inner City. You know,
Speaker 5: you qualify for long forgiveness after I think one hundred
Speaker 5: and twenty payments, so I had met the criteria. I
Speaker 5: felt like Isaiah Thomas though with the Jordan thing. I
Speaker 5: don't know what I met the criteria to be accepted,
Speaker 5: but I was not accepted. And now that there's new changes,
Speaker 5: I get to apply again. So hopefully I'll fit the
Speaker 5: criteria and have complete loan forgiven. It's not just ten thousand,
Speaker 5: which I don't think i'll I don't think I'll qualified
Speaker 5: for anymore unfortunately. But yeah, man, so it's gonna be
Speaker 5: interesting tonight. I'm looking forward to it.
Speaker 4: So all right, so we'll we'll get this started in
Speaker 4: one minute. But before I just wanted to make an announcement.
Speaker 4: I think Sonya is there. So we are having something
Speaker 4: really really big in New York City next week that
Speaker 4: we're very very excited about. For the first time ever.
Speaker 4: You know, they let they let the financial guys in
Speaker 4: the fashion world. So you know, we are. We've been
Speaker 4: big on fashion for a long time. We always you know,
Speaker 4: we talk about fashion a lot. So we're doing a
Speaker 4: show at New York Fashion Week. Yeah, Monumental. Shout out
Speaker 4: to Ally for sponsoring that, and shout out to the
Speaker 4: United Masters for partnering with us on that. So yeah,
Speaker 4: the first ever, you know, we're bringing financial literacy to
Speaker 4: the world of fashion. It's a surprise as far as
Speaker 4: like what's going to happen in the show because we
Speaker 4: want to keep everything kind of secret and in the moment.
Speaker 4: But it's gonna be super dope for sure. And uh yeah,
Speaker 4: you can RVP if you want to attend. Space is
Speaker 4: extremely limited, but again, yeah, for sure, try to get
Speaker 4: there early advised. Hey what's going on? So, Hey, guys,
Speaker 4: how I was just making an announcement. We're having a
Speaker 4: show at New York Fashion Week, so you know, I'm
Speaker 4: kind of excited about that. But the last thing I'll
Speaker 4: say before I hand over the baton is for that
Speaker 4: New York Fashion Week. Another thing that we just announced
Speaker 4: just now is that we're going to have something exclusive
Speaker 4: for EYL University members on Thursday. On Thursday, we're having
Speaker 4: all day education workshop where we're bringing some of the
Speaker 4: top minds in fashion world to come talk about their
Speaker 4: career journey to educate people on the world to fashion
Speaker 4: about career opportunities in fashion. So that's gonna be So
Speaker 4: Friday is gonna be the show, but Thursday is gonna
Speaker 4: be the all day education and that the Thursday part
Speaker 4: is only gonna be for Eyo University people. So I'll
Speaker 4: put that link. Maybe we can put that link in
Speaker 4: the zoom and then we'll also put that link in
Speaker 4: the Facebook group if you want to if you want
Speaker 4: to attend that. But if you do want to attend
Speaker 4: that Eyo University, make sure you sign up early because
Speaker 4: it's on a first come, first serve basis as far
Speaker 4: as as concerned. But that's gonna be a really really
Speaker 4: dope education into the world of fashion if you're interested
Speaker 4: in business and fashion and different things of that nature.
Speaker 4: So all right, so let's get into this, Sonya without
Speaker 4: further Ado. I want to I want to handle baton
Speaker 4: over to you and let you do your thing.
Speaker 6: I'm excited to be here. I had to tell the
Speaker 6: captain to pull me up right to the gate and
Speaker 6: a sweet for you guys, So listen, these announcements that
Speaker 6: we're about to share today, and thank you so much
Speaker 6: for having me on here, are so major, and I
Speaker 6: want to make sure that we take our time and
Speaker 6: walk through the information. I do want to start with
Speaker 6: what's happening per bidens updates. More information just came out today,
Speaker 6: so I'm really really excited to share that, and guys,
Speaker 6: my biggest concern is that we're putting out all this
Speaker 6: quality information, but people still may miss the application that's
Speaker 6: attached to it, if that makes sense. So we really
Speaker 6: really want to get into that conversation and hopefully have
Speaker 6: a really great Q and A tonight as well. So
Speaker 6: first thing first, if anybody's taking notes, I'm going to
Speaker 6: just break some things down and then we'll get into it.
Speaker 6: The application for the ten or twenty one thousand dollars
Speaker 6: that Biden is given out is going to be released
Speaker 6: in about four weeks, so it's really really important to
Speaker 6: note in about four weeks we're going to see it
Speaker 6: be released. I'm going to talk about some barriers to
Speaker 6: receiving that money in just a second, but it is
Speaker 6: going to be via an application, so I don't want
Speaker 6: people to think that ten twenty thousand is magically going
Speaker 6: to appear in their account. It's just not there has
Speaker 6: to be an application completed. The quickest way a cheat
Speaker 6: sheet if you will, to knowing how much money you're
Speaker 6: going to get, is if you log into student aid
Speaker 6: doc Gov. So student aid doc Gov. Log in and
Speaker 6: you're going to click your dashboard. Well, guys, when they
Speaker 6: log in, they're going to see two circles or one.
Speaker 6: If you see a blue circle, that represents your student loans.
Speaker 6: A green circle represents the pel grant. Now, not a
Speaker 6: lot of us remember if we receive pel grant in college, Like,
Speaker 6: do you guys remember that? Like you might have, might not,
Speaker 6: but you know how old you are. I know, we
Speaker 6: don't look at them, you know. I'm like, so we
Speaker 6: have these conversations like no, So that's number one. So
Speaker 6: log in and see if you see two circles, and
Speaker 6: it just goes like this. If you see a green circle,
Speaker 6: If you see two circles, you see a green circle,
Speaker 6: you're most likely going to be eligible for the twenty K.
Speaker 6: If you log in you only see a blue circle,
Speaker 6: meaning you did not receive a pel grant, then you're
Speaker 6: going to only be eligible for ten k, just as
Speaker 6: simple as we could do it. So two circles twenty k,
Speaker 6: one circle ten K, and don't worry about what's in
Speaker 6: the circles. Okay. Now, the next thing is, these are
Speaker 6: the important numbers. You have to have earned less than
Speaker 6: one hundred and twenty five thousand for twenty and twenty
Speaker 6: or twenty and twenty one. So they go to look
Speaker 6: at your adjusted ghost income for twenty and twenty twenty
Speaker 6: twenty one, and the number is one hundred twenty five thousand.
Speaker 6: If you are married fouled jointly, the number goes up
Speaker 6: to two hundred and fifty thousand. So it's just as
Speaker 6: simple as that. Going by some people didn't file twenty
Speaker 6: and twenty one taxes, right, so they're going by your
Speaker 6: twenty twenty Somebody said, what if I didn't file those?
Speaker 6: You need to go follow them and you have just
Speaker 6: a simple say and then write this down. Guys, you
Speaker 6: have up to a year to receive this, uh this money. Now,
Speaker 6: I'm gonna be honest with you, Troy, and shot it.
Speaker 6: I wouldn't wait a year, okay, because we know that
Speaker 6: government programs change every day, so you should not wait
Speaker 6: a year. You have up to a year. The next
Speaker 6: thing is you're probably thinking, well, how do I know,
Speaker 6: you know, if I'm going to receive this money, if I,
Speaker 6: you know, have a circle and I made less than
Speaker 6: one twenty five, here's the here's the last caveat. Now
Speaker 6: this part's a little bit more trigger So I'm gonna
Speaker 6: try to explain it through. You're going to have to
Speaker 6: figure out if you have direct loans or FFEL loans.
Speaker 6: So the Family Federal Education Loan Program is not sponsored
Speaker 6: through the government. The government makes no money for everyone
Speaker 6: that has an f f EL loan. About eight million
Speaker 6: Americans have f FL loans, So about eight million people.
Speaker 6: If they don't consolidate a SAP, they will not get
Speaker 6: this money or they're not going to get as much money.
Speaker 6: If they only have ff EL loans, and if they
Speaker 6: have a mixture, they would get the money that applied
Speaker 6: to their direct loans. But if you only have f
Speaker 6: f EL loans, you will get no money. I know
Speaker 6: that sounds really tricky, so let me say it again.
Speaker 6: You must have direct loans for the money to be
Speaker 6: applied towards your loan account, all right, And if we
Speaker 6: were like in a super live session, I would say
Speaker 6: type got it if you got it. So that here's
Speaker 6: the tricky part, guys, we don't know how they're going
Speaker 6: to give out this application link. My assumption is through
Speaker 6: studentaid dot gov, but that website shuts down if you
Speaker 6: look at it too hard. So I don't know how
Speaker 6: this application is going to be disseminated once it does.
Speaker 6: I know that we're committed to helping people at no
Speaker 6: charge get it done. Be careful. A lot of skin
Speaker 6: are starting right now, so I'm literally receiving screenshots in
Speaker 6: my DM every day, Like this company said they can
Speaker 6: help me do the twenty K application for only five hundred.
Speaker 6: Don't pay that, so just be careful that you're going
Speaker 6: to be get some phone calls, some texts. You don't
Speaker 6: have to pay that, guys to get some help, but
Speaker 6: you do want to help others that may not have
Speaker 6: access to the internet, the computer, or just be not
Speaker 6: tech savvy, because that is going to be the barrier
Speaker 6: to receive the money. So that's the gist of what's
Speaker 6: coming down the pipeline for that. I can go into
Speaker 6: other updates, but I just wanted to pause there first.
Speaker 5: Yeah, just some people that don't like if they don't
Speaker 5: remember if they have a pel grant. So sixty percent
Speaker 5: of student loan borrows are pelgrant recipients, so that could
Speaker 5: be you. And predominantly most of the people who have
Speaker 5: them are people of color. And it is incomeveysed, so
Speaker 5: I think it's like, if you made under thirty five
Speaker 5: thousand or maybe now it's fifty thousand as a household,
Speaker 5: that you probably qualified for it. So if you're in
Speaker 5: that when you went to school, if those were the
Speaker 5: conditions that you probably qualify for a pelt band, you
Speaker 5: probably got it right.
Speaker 4: Yeah, So let's get into other updates before I forgot
Speaker 4: to actually pin this link to Eyo University, so I'm
Speaker 4: just do that real quick. So Eyo University once again
Speaker 4: for anybody that just joined. This is something that we
Speaker 4: do every single week, but we do it once a
Speaker 4: month on YouTube. It's kind of like an opening roament,
Speaker 4: what we call, and it's an open window into what
Speaker 4: we have going on, which is a curriculum made up
Speaker 4: of real estate stocks. Every single week, we do a
Speaker 4: trading room with Chris, we do financial planning, we do
Speaker 4: real estate, we do all kinds of stuff like that.
Speaker 4: So long story, short we're doing a sale a flash
Speaker 4: that we haven't done this in a few months, but
Speaker 4: coming off of Investfest that's the last time we did
Speaker 4: it was before that in the spring. So forty eight hours.
Speaker 4: We're doing fifty percent off, which is five hundred dollars
Speaker 4: for the entire year fourninety nine and Big Ezach And
Speaker 4: it includes two hundred past videos, it includes everything. It's
Speaker 4: like a thousand hours worth of content. And it actually
Speaker 4: includes the Home Bodies Blueprint one, Volume one and two
Speaker 4: from MG to More. That's thirty two hours of real
Speaker 4: estate content. So it's probably the best deal that you've
Speaker 4: ever received in your life. So, but you have to
Speaker 4: enter cold Student. So go to Eyo University dot com
Speaker 4: intercold Student and you get fifty percent off of your
Speaker 4: annual membership for forty eight hours sale. So all right,
Speaker 4: sonya my bad?
Speaker 2: Yeah?
Speaker 4: Can you can you talk about the other some other updates?
Speaker 4: What's going on?
Speaker 7: Hey?
Speaker 6: Yes? All right, So we got a couple more important dates.
Speaker 6: When I tell you, I feel like every day it's
Speaker 6: a new day to be released. The next important date
Speaker 6: is that the Public Service Loan Forgiveness limit waiver is
Speaker 6: going to be ending on October thirty. First, I'm telling
Speaker 6: you right now, I'm just looking at the Twitter from
Speaker 6: the Department at They're not changing that date. Okay, They've
Speaker 6: been sending it out like every day. And this is
Speaker 6: the biggest loan forgiveness program in the history of student
Speaker 6: alone day. I literally guys wake up every day to
Speaker 6: a DM of somebody saying because they did something or
Speaker 6: they heard something from us, even from your conference, that
Speaker 6: was huge, just massive loan that forgiving at your conference
Speaker 6: got I was just amazed. People were coming up. Literally,
Speaker 6: one lady came up crying two hundred and two thousand forgiven,
Speaker 6: and she said, I heard of you through the YOL
Speaker 6: So I'm just really excited to see what's happening. So
Speaker 6: let's talk about how to make that a reality for someone.
Speaker 6: So I'm going to break this down and hope no
Speaker 6: one gets a little lost. So from two thousand and
Speaker 6: seven to twenty and twenty two, if you ever and
Speaker 6: the key word here with Cheade and Troy is ever,
Speaker 6: even if you didn't leave a good standing, even if
Speaker 6: you never ever paid a student loan payment before, because
Speaker 6: the people, you know, the brain would make you say
Speaker 6: what I didn't. If you ever worked at a qualified employer.
Speaker 6: We'll talk about that in a second. You are eligible
Speaker 6: to get credit for that work time. You didn't have
Speaker 6: to make a payment. You just had to show up
Speaker 6: on work. Okay. If they said you went to work
Speaker 6: and somebody can sign in a test to it, you're
Speaker 6: going to get credit. And so when we think about government, military, education,
Speaker 6: health care that's not for profit, we think about public service,
Speaker 6: law enforcement, nonprofits of course those entities. If you've ever
Speaker 6: I can't stress enough work there, you are eligible. Just
Speaker 6: send the paperwork in. If your employer closed down, maybe
Speaker 6: didn't leave on good terms. There is an option to
Speaker 6: do what's called self certified, so don't worry about that.
Speaker 6: Like literally, there's a box you'll check the mohelia slash
Speaker 6: Department Education will get back to you and say if
Speaker 6: they need anything further from you, but just fill out
Speaker 6: the form. Okay. So that's number one. Number two this
Speaker 6: is really really big. So guys, I don't know if
Speaker 6: y'all know this, but the government recently admitted to messing up.
Speaker 6: Did y'all know about that? The Department of Ed said
Speaker 6: we messed up. They have a whole announcement out online
Speaker 6: and how they messed up is they entrusted lenders to
Speaker 6: keep count of every payment that was made towards PSL
Speaker 6: left or towards an income driven repayment program. So just
Speaker 6: imagine this a breakdown for you guys. So let's say Troy,
Speaker 6: Let's say you ever call and you called your loan
Speaker 6: lender and you was like, you know what, guys, I
Speaker 6: can't make this payment? Can I get an extended forbearance?
Speaker 6: You have a call for forbearance?
Speaker 2: To Troy, Ever, yeah, I have.
Speaker 6: Most people have. And when you called them where you
Speaker 6: would leave that the call was only about two or
Speaker 6: three minutes and.
Speaker 2: They say, yes, I was. It was different times.
Speaker 6: So there's a term for that that's technically illegal. That
Speaker 6: is technically illegal. It's called for bearing steering. So what
Speaker 6: that means is lenders every time you called them, they
Speaker 6: were actually supposed to spend time with you on the
Speaker 6: phone and ask you about your finances, ask you why
Speaker 6: you couldn't make a payment, what's happening here? Right? And
Speaker 6: instead they go okay, sure, And so you're like, WHOA,
Speaker 6: I got off forget So that would be that happened
Speaker 6: for a lot of people for months, years, right. So
Speaker 6: here's what happens. So the government said, because that was illegal,
Speaker 6: they should have done some proper counseling with you. They're
Speaker 6: going to give up to three years of credit towards
Speaker 6: student loan payments. So what does this look like in
Speaker 6: November December, there is an exact date. They just said
Speaker 6: in the late fall of this year. They're going to
Speaker 6: credit anyone's account that was in for bear parents twelve
Speaker 6: months at a time for up to three years. So
Speaker 6: every twelve months it was one year, for up to
Speaker 6: three years, they're going to give a credit towards your account.
Speaker 6: You don't have to apply for it, you don't have
Speaker 6: to do anything. They're just going to do an account adjustment.
Speaker 6: The only caveat again is you have to have a
Speaker 6: direct loan. So if you're a role you know, shy
Speaker 6: in the Public Service Loan Forgiveness program, you know you
Speaker 6: have to meet a maximum of ten years. Well, I
Speaker 6: don't know what everyone's calculation is that are in the
Speaker 6: PSLF program, but just imagine, let's say you had seven
Speaker 6: years in right, you got your back credit from your employers,
Speaker 6: and this is why people are getting out of student
Speaker 6: loan dad in thirty days. Then they're going to see
Speaker 6: three years on top of that, of top of that eligibility.
Speaker 6: So that so we're going to see a lot of
Speaker 6: people already getting their loans clear through PSL left, and
Speaker 6: then in November December, we're going to see a whole
Speaker 6: other wave of people getting their loans clear. To be
Speaker 6: honest with you, some people are not even going to
Speaker 6: need the money that bite is about to give out,
Speaker 6: because that's how much your loan forgiveness is happening. Okay,
Speaker 6: so that's the big part right there. That's that we
Speaker 6: have one more section to cover. Okay, it's a lot
Speaker 6: happy there.
Speaker 2: That's a lot.
Speaker 5: So that public service I was before you came on.
Speaker 5: I was speaking about the public service on because I
Speaker 5: remember I told you that when I applied for their
Speaker 5: criteria was so ridiculous that like only one percent of
Speaker 5: people qualifying, and that's changed.
Speaker 2: I even had some coworkers that have actually done it.
Speaker 5: But you said the part where if so like I
Speaker 5: worked in the school and now the school has changed
Speaker 5: names four times, the principles no longer there, and you're
Speaker 5: just tell them what we have to do.
Speaker 2: You said, it's self self certified certified.
Speaker 6: So when you look at the application on page one,
Speaker 6: there's a little box that says, click here if you
Speaker 6: have to self certify and give some reasons as to why. Now,
Speaker 6: that's not something you want to do. It's only you.
Speaker 6: Only do it if you have to do it, because
Speaker 6: they're going to ask you for like maybe some tax returns,
Speaker 6: some other proof that you work there. So that's going
Speaker 6: to be the long route. We don't really have that
Speaker 6: much time. Only do it if you know that if
Speaker 6: that school is closed in this example, then do it.
Speaker 6: If the school is still open and there's somebody there
Speaker 6: that could attest to your work history, then go that route.
Speaker 2: Gotcha, got you perfect morning.
Speaker 6: Okay, one more update Barber's defense. So you saw the
Speaker 6: article come out where the government was bragging about getting
Speaker 6: about I think it was like thirteen million and stud
Speaker 6: loans forgiven. Through Barber's defense, two hundred schools came out.
Speaker 6: And this is what's really really important for the African
Speaker 6: American community. You know, for profit schools always have targeted
Speaker 6: our community. And so when we saw that list come out,
Speaker 6: we're like, okay, game time, University of Phoenix, it t
Speaker 6: Tech Deride.
Speaker 4: Remember all those itt check those school.
Speaker 6: So look at that list. I penned the list on
Speaker 6: my page. You know you guys want to post your
Speaker 6: stories like that list is so crucial. If you see
Speaker 6: your school, you see your friends school or the area,
Speaker 6: like you got an obligation to tell people to do
Speaker 6: the application. Now, the application used to be a paper application,
Speaker 6: twenty five pages long. Nobody was doing it. Now it's
Speaker 6: online through studenta dot gov. You log in, click Barber's
Speaker 6: defense and you just walk through it and you fill
Speaker 6: out the reasons why you feel you're eligible to get
Speaker 6: this money refunded. Now it is a long application. I'm
Speaker 6: not gonna lie. We help with that. But here's the kicker, guys,
Speaker 6: I don't want to see people if like, if you
Speaker 6: see your school and you don't apply, it's extremely weird.
Speaker 6: They're literally going to take that loan money off of
Speaker 6: your credit totally forgive you. Here's the biggest caveat. They're
Speaker 6: gonna give you some money back, like money money like
Speaker 6: tangible checks. And I didn't believe this until my friend
Speaker 6: screenshot at me or picture like what a check from
Speaker 6: itc tech. I said, oh, this is real, you know,
Speaker 6: can you hear about these things? And so he's gonna
Speaker 6: get a checked for a little while, because anybody who
Speaker 6: made payments towards the student loan or the interests of
Speaker 6: these schools, they're going to get that money back in
Speaker 6: the mail. So that's really really exciting. So make sure
Speaker 6: you know how like back in the day, you never
Speaker 6: really give them your real address. This is the time to
Speaker 6: go to student egg back up and give your real
Speaker 6: address so you can get your check. So that's what's
Speaker 6: really really exciting about what's happening with Barber's defense. Okay,
Speaker 6: all right, guys, I think I covered the majority of
Speaker 6: information that's happening right now, so you could do some
Speaker 6: Q and A, but those are the three biggest highlight
Speaker 6: reels that's happened in the world of student loans, and
Speaker 6: these things are happening concurrently, so people can be eligible
Speaker 6: for more than one thing at a time.
Speaker 4: Okay, So just going back to the beginning real quick.
Speaker 4: I got a question the application you had mentioned at
Speaker 4: the beginning. It is an application for Joe Biden's program,
Speaker 4: and you get the two circles different things in nature.
Speaker 4: Where do they get that, like, what's the website?
Speaker 6: So they didn't release where the application is going to
Speaker 6: be at yet, So we're like stalking it in real time.
Speaker 6: We think it's going to be through studenta dot gov
Speaker 6: because that's where every other application is. The only problem
Speaker 6: is just going to be really honest, if it is
Speaker 6: through studenta dot gov, you might want to log on
Speaker 6: at like four am when nobody's on there because the
Speaker 6: website keeps crashing like it's like Friday or something. So
Speaker 6: just you know, take your time and be patient with applying,
Speaker 6: but don't quit on it.
Speaker 2: Yeah.
Speaker 5: So I think one of the other big updates and
Speaker 5: maybe people overlooked it because they were just they just
Speaker 5: saw a ten thousand right in twenty thousand. If you
Speaker 5: got the pelgrimt is that student loan repayment is back
Speaker 5: in effect.
Speaker 2: So January first, twenty.
Speaker 6: Twenty twenty three, Yes, January first. So I have one
Speaker 6: more update and I was looking I think MG moriy
Speaker 6: S guy posted something about this, right, so I was like,
Speaker 6: I want to clarify this with him. So let me
Speaker 6: just give you one last thing that Biden did you
Speaker 6: recently that was really excited about. So then when the
Speaker 6: Obama administration came in, they lowered the income driven Repayment
Speaker 6: Plan from fifteen percent to ten percent. They call it
Speaker 6: the repay plan. So Biden this how I know y'all
Speaker 6: ain't gonna be no more extensions because he was like,
Speaker 6: this is gonna be the last one. Plus this and
Speaker 6: the plus this is he changed the repayment plan from
Speaker 6: ten percent repayment to five percent. So it's like with
Speaker 6: shouta Troy. If you can't pay your loans at five
Speaker 6: percent of what you earn, they don't know what to
Speaker 6: tell you. So that's why I know we're probably going
Speaker 6: to go back into repayment come January because he said, look,
Speaker 6: you got you got a dollar towards it, right, So
Speaker 6: five percent repayment is going to be starting in January.
Speaker 6: If you qualify just based off of income. This is
Speaker 6: really really sickedficant because back in August twenty and twenty one,
Speaker 6: there was a law that was changed with the Federal
Speaker 6: Housing Administration that said we now can take a look
Speaker 6: at your student loan payment, your income driven student loan
Speaker 6: repayment to help you qualify for FAHA home loan. Never
Speaker 6: before was that done. It always would be one percent
Speaker 6: if you were looking to get a home through FAH.
Speaker 6: Now this is really big. So like if you're in
Speaker 6: the process of buying a home. Just give it a minute,
Speaker 6: because you want your debt to inco ratio to reflect
Speaker 6: five percent of your income driven repayment plan versus ten percent,
Speaker 6: which means more house. So that's going to be really
Speaker 6: really big for minorities, particularly African American women that most
Speaker 6: played by student loan debt. So like if there was
Speaker 6: ever a time to buy a home and relation to
Speaker 6: your student loan debt, it would be after January. So
Speaker 6: that was really really exciting to see.
Speaker 5: Yeah, so that that barrier, right, that ten to five percent,
Speaker 5: and I'm correct me if I'm wrong by read this.
Speaker 5: So there's a piece of it where the amount of
Speaker 5: the time that you have to pay is going to
Speaker 5: go down from twenty to ten years.
Speaker 2: Right.
Speaker 5: I think it's if you make under if your student
Speaker 5: loans under twelve thousand or something like that.
Speaker 6: Right, So they're going to be changing the whole repayment plan.
Speaker 6: We don't know that repayment plan is going to be
Speaker 6: called yet, but they're basically how like Obama came out
Speaker 6: with the repay and pay I believe the Bide administration
Speaker 6: is going to just redo and create a whole nother
Speaker 6: payment plan or they may make an update to the
Speaker 6: repay pay plan, because remember Obiden and Biden did that together,
Speaker 6: so that's that's something they could update.
Speaker 4: So all right, so let's go to question. But I
Speaker 4: want to start with some questions from YouTube for a change.
Speaker 4: Somebody says, do loans have to be consolidated in order
Speaker 4: to receive forgiveness?
Speaker 6: Yes, if you have f f E L or f
Speaker 6: f E LP or Stafford or Perkins loans, So basically
Speaker 6: the answer to that, and another way is if you
Speaker 6: do not have direct loans, the answer is yes. If
Speaker 6: you have die rec loans and that's all you have,
Speaker 6: then you don't have to consolidate.
Speaker 4: Again, Okay, somebody else says, how do you think this
Speaker 4: new program will affect new college students?
Speaker 6: So very very very good question. So this is gonna
Speaker 6: be very interesting to see. We do know that college
Speaker 6: students can be eligible for the money that's coming from Biden.
Speaker 6: The problem here is, guys, you know, ten and twenty
Speaker 6: k sounds really good in theory, but they're probably going
Speaker 6: to borrow ten and twenty k that year. So for
Speaker 6: new students, it's probably going to wash you know, their
Speaker 6: education calls for a year or semester, but not make
Speaker 6: a huge dent. And you know, statistically it's not going
Speaker 6: to make a big det in the African American community either.
Speaker 6: You know, I hate to be the bar of bad news.
Speaker 6: This student loan debt of twenty thousand is going to
Speaker 6: statistically clear debt for white males. Not a challenge. I'm
Speaker 6: just saying. And I think that so many people were
Speaker 6: a little upset that fifty thousand wasn't given because fifty
Speaker 6: thousand would really move the needle for the African American community.
Speaker 6: While we're grateful for the twenty as a whole, and
Speaker 6: just in terms of moving the needle and really making
Speaker 6: a big impact on the finances of the African American community,
Speaker 6: twenty thousand is not going to do much.
Speaker 5: Yeah, so the statistics are is forty three million, which
Speaker 5: is equal to one point three trillion.
Speaker 2: The only thing that we have more debt in its
Speaker 2: home ownership.
Speaker 5: With the ten thousand forgiveness, that'll cut the amount of
Speaker 5: people who are in debt and student loans to twenty manes.
Speaker 5: Almost half of the people who have student loans will
Speaker 5: be cut. And then you have this the new repayment plan,
Speaker 5: So for the new college student who's coming in. And
Speaker 5: this is another part. The amount of interest that's going
Speaker 5: to be paid on those loans. Is that going to
Speaker 5: change too, because a lot of times people make payments
Speaker 5: and they're making the payments on time, and they're looking
Speaker 5: at their overall amount and they're saying, wait, the principle
Speaker 5: hasn't changed because they've been paying interest. Is there something
Speaker 5: in there that interests might be lowered?
Speaker 6: So the interest gets regulated and updated every July. And
Speaker 6: to my knowledge, the interest hasn't much much since the
Speaker 6: last alive because of the pandemic, So we don't expect
Speaker 6: that the interest is going to be, you know, super high.
Speaker 6: You know, you're in school, your interest varies around between
Speaker 6: three to five percent. Plus loans go about seven to
Speaker 6: eight percent. That the administration has not changed or waivered on.
Speaker 6: And to be really honest, I don't think they will
Speaker 6: because all of these extensions, the government is losing thousands
Speaker 6: and thousands millions at this point of dollars in recouping
Speaker 6: interest money. So I don't think they're going to make
Speaker 6: any changes to that.
Speaker 5: Yeah, I mean, that's one of the things to think about, right.
Speaker 5: If it's been about almost two years now, with no payments,
Speaker 5: and so the government's going to.
Speaker 2: Have to figure out how we're going to get this
Speaker 2: back in.
Speaker 5: One of those things is usually we'll have to raise
Speaker 5: taxes or they'll figure out another way to raise money
Speaker 5: where the total population is going to have to start
Speaker 5: paying for this.
Speaker 2: So something to keep eye on.
Speaker 4: Yeah, all right, let's let's go to U university.
Speaker 2: Question.
Speaker 5: All right, Angela, we coming to you. I'm mute yourself.
Speaker 5: You've been unmuted. What's going on?
Speaker 2: Angela? Hello, Angela? You did that?
Speaker 3: Oh can you hear me?
Speaker 2: Are you perfectly?
Speaker 6: Okay?
Speaker 2: Great?
Speaker 3: Hey, So thank you all for everything you do. Thank you,
Speaker 3: miss Sonia. I have a question. So, yeah, my husband
Speaker 3: and I went to divide, but we already paid off
Speaker 3: our student loans. So is there anything is are we
Speaker 3: just you know, should we still apply or what?
Speaker 8: So?
Speaker 6: Okay, so you know, Angela, here's the unfortunate truth. Biden
Speaker 6: said it not I So somebody had literally asked him
Speaker 6: that question in a press conference, and he got really snappy,
Speaker 6: snappy Angela, and basically he said that if you were
Speaker 6: able to pay off your loans or fortunate to pay
Speaker 6: off your loans, there will not be a refund. The
Speaker 6: only time we're seeing that money is actually being refunded
Speaker 6: is if you paid on your loans through the pandemic,
Speaker 6: there's a refund possible there, or if you went to
Speaker 6: a school such as that qualifies for borrowers defense. But
Speaker 6: for this particular program, the ten of the twenty K,
Speaker 6: they have not said well, and he basically said he
Speaker 6: was not going to be giving any money back. So unfortunately,
Speaker 6: if you're just eligible for this, and the answer would
Speaker 6: be no, okay, thank you, thank you, Yes.
Speaker 4: Okay, let's go to YouTube again. How does loan forgiveness
Speaker 4: work for teachers who have worked in low income districts?
Speaker 6: So right now, this is really cool. Then this is
Speaker 6: only until October thirty. First, teachers compare teacher loan forgiveness,
Speaker 6: So teacher long forgiveness allows you to receive a grant
Speaker 6: for teaching and ps left, so you know the thing
Speaker 6: destroyed you never before compare those together.
Speaker 2: I'm loving it.
Speaker 6: It was like, yeah, it was like one of the
Speaker 6: other Okay, so it was like one of the others.
Speaker 6: So now I'm sorry thiss mystery. I'm like, what's talking.
Speaker 4: On the second guys, it's the ghost.
Speaker 6: No, it's I guess ALEXA, so long street short, so
Speaker 6: I must have said a name similar. So basically you
Speaker 6: right now have the time to be able to apply
Speaker 6: for both until October thirty. First you can get whatever
Speaker 6: grant money is eligible, so if you've been working at
Speaker 6: that school for over five years, get that money, and
Speaker 6: then you can also use that same time period to
Speaker 6: calculate for PSLF. So teachers right now are super winning.
Speaker 6: I would definitely pier both.
Speaker 2: Yeah, here's another thing.
Speaker 5: So if you teach and I'm sure this is probably
Speaker 5: still true something correct me, but if you teach in
Speaker 5: math or science, right, there's a certain amount that you allocated.
Speaker 5: When I did it, it was seventeen thousand, five hundred dollars,
Speaker 5: and if you taught in like ELA or social studies,
Speaker 5: it was like maybe seventy five hundred, and everything else
Speaker 5: was probably like five thousand or something like that, or
Speaker 5: maybe it was seventeen five.
Speaker 2: Yeah, seventy five for a core four and.
Speaker 5: Then five thousand for everything else. And so at the
Speaker 5: time I was teaching physed and I was like, wait, wait, wait, wait,
Speaker 5: way do we fall in in this? And I was
Speaker 5: like they were like, oh, it's a five thousand I'm like, nah,
Speaker 5: but I teach health, which is a science, and so
Speaker 5: it was a good thing. I had a great relationship
Speaker 5: with this since the princient the principal because they looked
Speaker 5: at it. They looked at health. It was a science
Speaker 5: and physics is a science too, technically, and so I
Speaker 5: actually applied for it. I got the seventeen to five.
Speaker 5: So that's that's one way you could do it. But
Speaker 5: like you said, now that we're able to combine it,
Speaker 5: you get that ten years of payment. You work in
Speaker 5: a low come income area, and that's what five years?
Speaker 2: Right?
Speaker 6: Yeah, so just five years. So if you're gonna get
Speaker 6: either the five or the seventeen plus, you got twenty
Speaker 6: coming plus, you got the work history. And if you
Speaker 6: was in for beards because Towns was hard, another three.
Speaker 6: I'm telling you, this is a really good day to
Speaker 6: be a teacher when you did this.
Speaker 2: Name no pays, it pays. Okay, all right, we got
Speaker 2: Jonathan hard and we coming to you. Mute yourself. You've
Speaker 2: been unmuted. What's going on? Jonathan?
Speaker 9: Hey, Troy, Visha Sonya, thank you so much for this meeting.
Speaker 4: This is incredible.
Speaker 2: Can you hear me? Thank you perfectly?
Speaker 4: Righteous, righteous.
Speaker 9: So I'm not logged in the standing aid dot gov
Speaker 9: right now, and it's telling me that I need to consolidate.
Speaker 4: My well, YadA YadA.
Speaker 9: So I looked at the forum and it gives you
Speaker 9: a variety of payment options and some are like mad cheap,
Speaker 9: but you'd be doubling the price that you would have paid,
Speaker 9: you know, at the end. And then if I go
Speaker 9: with what I'm doing now, it'd be slightly higher. So
Speaker 9: my question is what's the percentage of people who actually,
Speaker 9: if they meet the requirements and apply, they would actually
Speaker 9: get you know, their their pe, you know, their loan forgiven.
Speaker 9: Because when I did my research under Trump, it was
Speaker 9: like two percent.
Speaker 6: Well, this is a new day, and if I was
Speaker 6: on IG Live, I would make you all type new day.
Speaker 6: And let me just be really honest with you, Jonathan.
Speaker 6: The challenge is so many people were burnt or dishearted
Speaker 6: by the PSLF program before, and everyone's like, oh, this
Speaker 6: is not happening, this is not real. You just come
Speaker 6: on over my page, you want to see all these testimonials.
Speaker 6: A young lady literally had the same situation that you're saying,
Speaker 6: and she just sent me a message showing that she
Speaker 6: got three hundred and fifty seven two hundred dollars for
Speaker 6: given because she decided to just complete the application. So
Speaker 6: what I want to say for you is how much
Speaker 6: work history do you have to catch up on to
Speaker 6: get credit for?
Speaker 9: Well, you know, I got two places that I've worked
Speaker 9: now to be a total of eleven years, and both
Speaker 9: of them are on you know, on the list. So
Speaker 9: the place I'm working now, I'll give me the form
Speaker 9: and then I gotta go. I used to work in
Speaker 9: NPR and that's on the place that's on the list,
Speaker 9: so I got to get the form from them.
Speaker 4: So just two places.
Speaker 6: Well, Jonathan, I'm going to be very frank with you,
Speaker 6: it's not going to really matter what payment plan you choose.
Speaker 6: Early congratulations on one hundred percent long forgiveness. You just now.
Speaker 6: I don't divee you up. This is I get. I
Speaker 6: literally reshot in Troy, and I cannot have a bad
Speaker 6: day if I wanted to. Just imagine just waking up
Speaker 6: to all these receipts and screenshots. It's people just like
Speaker 6: yourself that have been working for years in these industries,
Speaker 6: no payments required. You just had to work there. You're able.
Speaker 6: They're not asked about you know what you made? What
Speaker 6: you They just wanted you to do the form. So
Speaker 6: do the form, mail it off, certified, and then in
Speaker 6: thirty forty five days you should be having a celebration
Speaker 6: of your own righteousness.
Speaker 9: Thank you so much, y'all doing the Lord's work for
Speaker 9: real appreciation.
Speaker 6: Agree.
Speaker 5: Yes, we got a question on YouTube. They said the
Speaker 5: teacher long forgiveness backtrack. I believe it does up until
Speaker 5: two thousand and seven, right, yes, So from two thousand
Speaker 5: and seven on those years.
Speaker 6: Yes. And the thing is two thousand and seven was
Speaker 6: just so significant because there were so many changes that
Speaker 6: was happening with the direct loans program the government. It's
Speaker 6: a very weird number. But two thousand and seven is correct.
Speaker 2: Yep, okay, perfect, perfect.
Speaker 5: Let me see if I can get this right. Jericha,
Speaker 5: we're coming to you. Unmute yourself. You've been unmuted? Did
Speaker 5: I get that right?
Speaker 2: I hope so?
Speaker 6: Yep, that's my name, Jerka. Thank y'all so much for
Speaker 6: this information. My question is is okay, it's gonna give
Speaker 6: you back around really quick. So I've worked for the
Speaker 6: State of Texas for eleven years. I live for the
Speaker 6: PSLF program. I've also been on an income driven plan. However,
Speaker 6: I'm still showing that I think I have like additional
Speaker 6: five years of payments to So I'm not sure what
Speaker 6: I'm overlooking or if I yeah, like if I'm missing
Speaker 6: some steps here. So give me some bad history. How
Speaker 6: long have you been working for a qualified employer? Since
Speaker 6: twenty and eleven? Twenty eleven and we're in twenty twenty two.
Speaker 6: If you've worked at this qualified employer excuse me for
Speaker 6: at least thirty hours a week? Yes, okay, and this
Speaker 6: is one employer or multiple employers, one employer just held
Speaker 6: different positions. Okay, And let me just ask you this question.
Speaker 6: So when's the last time you filled out that form
Speaker 6: and had the employers sign it again? It was probably
Speaker 6: two over two years ago. Okay, Jericha, send it again. Sorry,
Speaker 6: fright tomorrow, because remember you gotta remember this is why
Speaker 6: they're coming out with this program. They made a mistake.
Speaker 6: They're saying we miscalculated, we never counted your payments correctly.
Speaker 6: So we send it again with the same information, same
Speaker 6: employer's signature. If HR has a question, just say I
Speaker 6: was instructed to recomplete this.
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Speaker 6: You need form so they can recalculate my eligibility. Perfect, Okay,
Speaker 6: I will yes so much. You're welcome. Heck you guys,
Speaker 6: appreciate you.
Speaker 2: Jarth.
Speaker 4: A question from YouTube is is there any repayment programs
Speaker 4: for healthcare workers?
Speaker 6: So there are. So there's Nursing Long Forgiveness, which is
Speaker 6: not a federal program, but it's more so run through
Speaker 6: the state. I think it's NHS dot government. I'm not mistaken.
Speaker 6: I'm not sure off hand, but just type in state
Speaker 6: Nursing Long Forgiveness. But again, you know that's the challenge
Speaker 6: with healthcare is that healthcare so broad. So with healthcare,
Speaker 6: which you have to make sure is that you're working
Speaker 6: in a not for profit or a nonprofit field for
Speaker 6: it to qualify. So unfortunately, if that's not the case,
Speaker 6: then it wouldn't qualify for PSLF or most long forgiveness programs.
Speaker 6: The ten twenty k of course could come being at
Speaker 6: their income it's under one twenty five, but just is
Speaker 6: going to depend on their place of employment. So I
Speaker 6: always it's always very you know. The other thing that's
Speaker 6: on the table that hasn't been decided on is frontline workers.
Speaker 6: The bill is still out there to give loan forgiveness
Speaker 6: for them. And then the Biden administration said that before
Speaker 6: their ten years over now, this could just be a
Speaker 6: little dangle to get us to revote, but I'm here
Speaker 6: for it. They said that they were going to be
Speaker 6: looking to see what they can do for private loan
Speaker 6: debt too. I was like, oh, that was y'all, y'all clever.
Speaker 6: We don't know, but that would be really awesome for
Speaker 6: those in the healthcare feel as we know that they
Speaker 6: take out a majority of private loan debt.
Speaker 2: Yeah.
Speaker 5: That Denise has a great question shout out to the
Speaker 5: two and this is probably one of those sipulations that
Speaker 5: might have changed. She said, do you have to currently
Speaker 5: be employed in public service? So she left the profession
Speaker 5: but has over eighteen years, Do you still have to
Speaker 5: currently be employed where you are now?
Speaker 6: Nope? Again, if you ever worked since two thousand and
Speaker 6: seven to twenty and twenty two. For a qualified employer,
Speaker 6: you're going to do the PSLF Limited Wave Reform. You're
Speaker 6: going to have the employer signed that form. I would
Speaker 6: love for them to get it back to you, but
Speaker 6: if they mail it off, that's fine, but we want
Speaker 6: to be able to mail it off CERTIFI. So we've
Speaker 6: got to be able to track this or at least
Speaker 6: ask for a copybag or confirmation and then just wait
Speaker 6: thirty to forty five days and she should be in
Speaker 6: the same party as Jerika and Jonathan. So I'm really
Speaker 6: really excited.
Speaker 5: Yeah, I was just gonna ask you that because the
Speaker 5: October thirty first date is very key because if you
Speaker 5: get it in and you have thirty to forty five
Speaker 5: days for them to respond, you want to get it
Speaker 5: in before the thirty first, right, exactly right, because you
Speaker 5: got to figure all those loans are now going to
Speaker 5: be active again, all these repayment loans, and there's going
Speaker 5: to be a lot of applications for the people trying
Speaker 5: to get the ten thousand dollars forgiveness or the twenty thousand,
Speaker 5: So that's a lot of paperwork and thirty or forty
Speaker 5: five days will turn into.
Speaker 2: Three to cents?
Speaker 6: Like, did they increase the workforce over there? I'm like,
Speaker 6: I don't want to see it more. I'm dead.
Speaker 2: If we're looking for an employment opportunity, I'm sure.
Speaker 6: That this time they're about be hiring for real.
Speaker 2: All right, we got Kelly, We're coming to you. Mute yourself.
Speaker 2: You've been muted? What's going on?
Speaker 7: Hello?
Speaker 2: Are you? Oh?
Speaker 10: Perfect?
Speaker 6: Perfect?
Speaker 10: Thank you?
Speaker 6: I have a question.
Speaker 10: I'm currently in the Navy for the military, and I
Speaker 10: want to know if there were any special circumstances for
Speaker 10: people who have been deployed and were able to make
Speaker 10: their payments on time. And also I wanted to know
Speaker 10: there was a time when they had run out of
Speaker 10: tuition assistance that pays for our education and we had
Speaker 10: to take our student loans. Would there be any special
Speaker 10: circumstances for that? And I've been in for five years?
Speaker 6: Okay? What was the job again? I'm the Navy in
Speaker 6: the Navy, okay, and you had to take out student
Speaker 6: loans because it ran out? And what was the time
Speaker 6: period you were the Navy working from.
Speaker 10: I'm currently in so from seventeen to present, twenty seventeen
Speaker 10: to present.
Speaker 6: Okay, so you want to know if you can qualify
Speaker 6: for that five years in bank history?
Speaker 4: Yes?
Speaker 6: Yes, And when did you take out your student loans?
Speaker 6: What years did you take out your student loans?
Speaker 10: From twenty nineteen up until now? They're always they run
Speaker 10: out of money all the time.
Speaker 6: So that's okay.
Speaker 10: You're asking, well, like special circumstances that we could get
Speaker 10: for that. Well, so you took out loans in twenty nineteen, right,
Speaker 10: nineteen twenty Yes, okay, So you can apply for the
Speaker 10: same program, the PSLF Limited Waiver to qualify you towards
Speaker 10: the ten years. Then they're not going to just do
Speaker 10: a reimbursement for those two You still have to hit
Speaker 10: the ten year mark to get the loan debt forgiven
Speaker 10: all together. I don't know how much you've borrowed, Kelly,
Speaker 10: But with the twenty k make a difference in the
Speaker 10: loan deck.
Speaker 6: Yeah, because I have like twenty thousand out, okay, so
Speaker 6: we know that the twenty k can knock down at
Speaker 6: least half and then just depending So either way, I've
Speaker 6: been having this conversation with people, Well, if I do
Speaker 6: the form, I'm only going to get two or three
Speaker 6: years of eligibility. But the point is, Kelly, we still
Speaker 6: want you to just send off that form and just
Speaker 6: go get that bad history either way if you can.
Speaker 6: Because the BIDE administration also said you're looking to see
Speaker 6: if they can shorten repayment from ten years to five.
Speaker 6: They've been talking about a lot of different things they
Speaker 6: want to do with the PSLF program. So what I'm
Speaker 6: basically saying to you is if you had two years
Speaker 6: and then they changed it to five, it could be
Speaker 6: shorter for you overall. So no, they won't be immediate
Speaker 6: belief in terms of the whole debt being going. Half
Speaker 6: is coming if you had the pel grant. If not,
Speaker 6: ten is coming, but at least you can get the
Speaker 6: credit for that time works.
Speaker 2: Okay, Yeah, thank you Kelly, and thank you for your service.
Speaker 4: Thank you, yes, thank you. So yeah, let's go to
Speaker 4: a few more YouTube questions before we wrap. So, yeah,
Speaker 4: a lot of people with us watching this. This is
Speaker 4: actually great, by the way, Sony, thank you for the information.
Speaker 4: But people always say, like, what's the difference between EYO
Speaker 4: University and oral Lesia question and answers is one of
Speaker 4: probably the biggest thing because that's a hands on learning education.
Speaker 4: So nine to five millionaire. His episode came out yes Sday,
Speaker 4: that was one of those ones went crazy. It's going
Speaker 4: crazy on YouTube right now, but so many people hitting
Speaker 4: them in the DM asking him questions. It's like, it's
Speaker 4: kind of hard. This is what how we've kind of
Speaker 4: built the platform the way it is is that it's
Speaker 4: kind of built like a real classroom. So in Zoom
Speaker 4: you have like people that actually teach and then you
Speaker 4: can actually ask questions. That to me is probably the
Speaker 4: biggest one of the biggest advantages of the actual platform
Speaker 4: because it's like you can't do that on well market mondays.
Speaker 4: You can have your Eyo University, but you can't do
Speaker 4: that on the podcast. You can't do that on you know,
Speaker 4: if you're just watching YouTube or if you're just listening
Speaker 4: on Instagram. So you can still get information and it's
Speaker 4: a great way to educate yourself. But private school education
Speaker 4: is a little different from public school education. And Eyo
Speaker 4: University top private school in the world. So fifty percent
Speaker 4: off for forty eight hours cold student inter cold student
Speaker 4: fifty percent is four hundred and ninety nine dollars. Why
Speaker 4: would you not do that? That's the biggest question.
Speaker 2: Too easy I got a few more from here.
Speaker 4: Well, I got one. Somebody said, is loan forgiveness only
Speaker 4: for qualify only for qualified jobs? Qualifying qualifying jobs? Not
Speaker 4: ea sure what that means, but I guess they're assuming
Speaker 4: like just for teachers, Yes, but no, right, it's for anybody.
Speaker 6: Right. No, we went through three today. So just to recap,
Speaker 6: the Biden administration's giving it out regardless of where you've worked.
Speaker 6: It just has an income stipulation to it and an application.
Speaker 6: That's number one. The second one is the PSL left
Speaker 6: is by where you work, so that's a qualified employer stipulation.
Speaker 6: The third is the borrower's defense based off where you
Speaker 6: went to school, and that's regardless of where you work
Speaker 6: and what you've earned. So there's three ways to get
Speaker 6: some type of forgiveness, and pretty much just with income
Speaker 6: and mind most people are going to be eligible for
Speaker 6: one of three, if not two of three or three
Speaker 6: of three.
Speaker 2: Yeah.
Speaker 5: One of those qualifying measures for that, the loan forgiveness
Speaker 5: for public service was the one hundred and twenty payments.
Speaker 5: Is that still part of the criteria because I know
Speaker 5: that's still so you have to make is it one
Speaker 5: hundred and twenty consecutive or just one hundred and twenty
Speaker 5: payments because a lot of people get thrown.
Speaker 6: Off with that one hundred and twenty qualified payments. Me
Speaker 6: repeat myself, because this is where people just don't apply. So,
Speaker 6: if you ever worked from two thousand and seven to
Speaker 6: twenty and twenty two, regardless if when you work there,
Speaker 6: even if you don't still work there, even if you
Speaker 6: never made a payment, even if you never paid on time,
Speaker 6: even if you weren't in the right repayment plan, the
Speaker 6: requirement is did you work there? Can somebody sign your
Speaker 6: paperwork saying that you work there at least thirty hours
Speaker 6: a week. If the answer is yes, you're eligible for
Speaker 6: your credit. That's it. Don't think too hard on it.
Speaker 6: You know, people go wow, you know sometimes in pre
Speaker 6: parents they know, they know, you know, sometimes I miss
Speaker 6: the payment house late like ten, they know they know.
Speaker 6: So don't go into that handspace. I would rather the
Speaker 6: department ed tell you know, did you tell yourself?
Speaker 3: No?
Speaker 6: Just apply? And literally a lady said to me, I'm
Speaker 6: so grateful you made me apply. She went from twenty
Speaker 6: eligible payments to one hundred and fourteen because she took
Speaker 6: like six of my classes. I didn't you know? And
Speaker 6: she said, all right, I family just sent it in.
Speaker 6: That's a huge jump, y'all. She literally got six payments
Speaker 6: to go and she'll be done.
Speaker 2: Yeah. A part of that that it kind of gets
Speaker 2: left out.
Speaker 5: And I'm sure there's a lot of people, like we
Speaker 5: said four hundred forty three million people are a student loan.
Speaker 2: That one of the five people in default is that
Speaker 2: credit score.
Speaker 6: I mean, Troy, if you're in default right now, Troy,
Speaker 6: it get real weird. You know, No, it's get weird.
Speaker 6: Like if you're watching this and you're in default, you
Speaker 6: should be ashamed of yourself. After today, you should no
Speaker 6: longer be in man thing. You should call them right now.
Speaker 6: You got about twelve minutes east coach time, yom until nine.
Speaker 6: Get out tonight or get out tomorrow morning. The thing is, guys,
Speaker 6: there's no such thing as being in default, no more
Speaker 6: if you don't want to be like, all right, So
Speaker 6: there's certain people that defaulted. There's like your first time defaulters,
Speaker 6: and then there's those like forever defaults that like you,
Speaker 6: probably just was never going to get out. So here's
Speaker 6: the key. They started something called the Fresh Start program.
Speaker 6: It's a no questions asks program. What that means is
Speaker 6: it's going to go one of two ways. Hey, listen,
Speaker 6: I heard that there's a program that get me out
Speaker 6: of the fault today. What do I need to do?
Speaker 6: They're not going to ask you what happened? You know.
Speaker 6: They may ask you what you've earned for only one reason,
Speaker 6: and that's to see if they can qualify you for
Speaker 6: a low payment for three months to take it off
Speaker 6: your credit like it never happened. But if you're like
Speaker 6: I don't want to give up my income and you
Speaker 6: don't want to go back and forth, they can take
Speaker 6: you out of default today. Troy. It's just that it
Speaker 6: would just still showing your credit that it happens. Does
Speaker 6: that make sense? But I literally had a young lady.
Speaker 6: I was teaching a class one afternoon and I told
Speaker 6: everybody how weird they were. She was still sick of
Speaker 6: me calling people weird. I knew what I was doing.
Speaker 6: She literally called in real time and like came off
Speaker 6: from you and busted out like I'm not in default
Speaker 6: no more. And it was just like this like crazy
Speaker 6: movie scene. Yeah, you don't have to be in default
Speaker 6: no more. You're in a loginstude a dot UV it's
Speaker 6: going to say you're in default, and then there's a
Speaker 6: number there for you to call Department Education. Just call them,
Speaker 6: call them, Take about ten minutes, get out today. You
Speaker 6: only have about a year from today to do this,
Speaker 6: and then after that it's going to go away.
Speaker 2: Okay, okay, Yeah, I get.
Speaker 6: So excited about these things we're going to I just
Speaker 6: want to I want to see people be great.
Speaker 2: I want to see him be great.
Speaker 5: I want to see, you know, this level of debt
Speaker 5: come off off their accounts and you know, hopefully their
Speaker 5: credit scores go up, and then we got more people
Speaker 5: buying homes. Right, Sometimes student loan debt puts us in
Speaker 5: a in a crisis where the only option is to
Speaker 5: stay home, and sometimes there's no home to come back to,
Speaker 5: and so that becomes a decision, right, cannot even afford
Speaker 5: to make the decision to go to school. And so
Speaker 5: we want to give people enough options and enough resources
Speaker 5: to make, you know, good decisions for them, and great
Speaker 5: financial decisions. Because we said, other than getting married, going
Speaker 5: to school is going to probably be the most important
Speaker 5: financial decision you're gonna make.
Speaker 2: Right, Yeah, we got let's do it. This is it?
Speaker 2: So are we coming to you on your self. You've
Speaker 2: been a mute. What's going on?
Speaker 11: It's going good? Guys, can you hear me?
Speaker 2: Here? Are you perfectly? What's going on?
Speaker 11: Going well? Going well, just enjoying the class. But my
Speaker 11: question was, so I'm one of the one who had
Speaker 11: one of the parent or the parent plus loan and
Speaker 11: the pelgram, and I also have multiple siblings who went
Speaker 11: to college before me, but consolidating their parent plus loan
Speaker 11: into one. It's one of the situations where I guess
Speaker 11: consolidation consolidating is going to work against this.
Speaker 6: No, if you have a parent plus loan, in order
Speaker 6: to qualify, it has to be a parent plus consolidated loan.
Speaker 6: So it's not just enough. When we talk about the
Speaker 6: Public Service Loan Forgiveness program, let me stress that in
Speaker 6: order to qualify for the parent plus loan to be
Speaker 6: right clear, if you are eligible for psl UF, you
Speaker 6: have to go in and just consolidate that loan if
Speaker 6: it's not already a parent plus consolidated loan. Does that
Speaker 6: make sense? But in order to get the money from
Speaker 6: from biting for the ten or twenty k, you would
Speaker 6: not have to do that if it's a direct loan already.
Speaker 2: We're chopping up. I'm not I'm not sure. Are you saying?
Speaker 4: Thank you?
Speaker 5: Appreciate you, bro, thank you, No problem, You're welcome.
Speaker 2: Let's do it. Let's do it. We got Kelly, we're
Speaker 2: coming to you. Not a hand.
Speaker 5: They got a bunch of hands in here. Kelly, we're
Speaker 5: coming to you. Unmute yourself, you but unmuted. What's going
Speaker 5: on with you?
Speaker 4: Wait to the end and start asking questions.
Speaker 5: Okay, somebody just asked my question. Let me get some clarity, Kelly.
Speaker 5: What's going on?
Speaker 6: Hey, what's going on?
Speaker 4: Y'all?
Speaker 6: I appreciate all this information. Thank you, Sonya. So you
Speaker 6: might have said this be so the Perkins loan.
Speaker 12: I have a Perkins loan, and then I have like
Speaker 12: some other direct consolidated and unconsolidated or I'm sorry direct
Speaker 12: unsubsidized and subsidized loans. I guess I'm not too sure
Speaker 12: what I'm what to do in terms of like would
Speaker 12: in terms of validating do I need to consolidate the
Speaker 12: Perkins loan?
Speaker 6: Well, there's a little error message that comes up or
Speaker 6: not an era, a warning message, and if you consolidate
Speaker 6: your Perkins loans, you could lose some type of eligibility.
Speaker 6: If I just read that, yup, when you read it,
Speaker 6: did that apply to you? Or no?
Speaker 12: Well that's why I clicked my hand up because I
Speaker 12: wasn't sure and I.
Speaker 6: Don't really know where to find it. So Rea did
Speaker 6: it again. And basically, so this hour goes and I'm
Speaker 6: going to just answer you every generally, Kelly, cause I
Speaker 6: haven't like looked at your count on it. You know,
Speaker 6: so when you are going to consolidate and the little
Speaker 6: Era message comes up, it says, do not consolidate this
Speaker 6: loan if you are in the process of having it forgiven.
Speaker 6: So if there's another way that you know that that
Speaker 6: perpose loan is being forgiven, but particularly if you were teaching,
Speaker 6: then you wouldn't want to include it. Is that your
Speaker 6: case or no.
Speaker 12: No, I'm not teaching and I don't have another way
Speaker 12: to concild or to get it out.
Speaker 6: I would slide to the mail on n and Kelly,
Speaker 6: that was the answer. So that's basically what it comes
Speaker 6: down too, and people know like so. So basically with
Speaker 6: the purchase loes, there was a big push years ago
Speaker 6: that they would forgive that loan if you went into
Speaker 6: the education field and there's a separate process that happens
Speaker 6: for those loans to be forgiven. It's a whole different program.
Speaker 6: But if that's not the case for you, you would
Speaker 6: know then you can you can't include it. Okay, all right,
Speaker 6: thank you, Yep, you're welcome.
Speaker 2: Appreciate you.
Speaker 5: Kelly. All right, Ayana, we are coming to you. Mute yourself.
Speaker 5: You've been unmuted. What's going on?
Speaker 2: Ayana?
Speaker 4: Hi, I'm sorry.
Speaker 2: Can you hear me perfectly?
Speaker 6: Okay?
Speaker 2: Great?
Speaker 13: Well, I just want to start by saying, Troy Rashott
Speaker 13: and Sonya, I just.
Speaker 6: Want to thank you, thank you, thank you for all
Speaker 6: of this information.
Speaker 13: I'm pretty much ready to start doing my little praise
Speaker 13: dance already. But I worked for the Department of Health
Speaker 13: and Human Services in the pretty much the welfare office,
Speaker 13: and so my question is not for.
Speaker 6: Me because I've been there twelve years.
Speaker 13: But I do have a lot of clients that receive
Speaker 13: public service, I mean public assistance, you know, and it
Speaker 13: doesn't really look like from my perspective, any of them
Speaker 13: are trying to get a job. But are there any
Speaker 13: I mean, what will happen with individuals like that their
Speaker 13: own student loans, they are not employed and once the
Speaker 13: interests and everything starts to kick back in. I mean,
Speaker 13: I'm sure most of them are have applied for forbearances,
Speaker 13: but is there anything for individuals like that?
Speaker 6: So what I would do? I got it, And it's
Speaker 6: not a weird question at all. You may want to
Speaker 6: help them and you know, host some webinars or in
Speaker 6: person sessions to help them apply for the ten or
Speaker 6: twenty K. Majority of them, if they have still the loans,
Speaker 6: will be eligible for the twenty k because they probably
Speaker 6: receive the Perkins grant they make under the ones twenty five.
Speaker 6: So we want to get as many of those people
Speaker 6: possible with the application for the twenty k. When it's
Speaker 6: time to go on repayment in January, we want them
Speaker 6: to do what's called an income driven repayment plan. They're
Speaker 6: going to put down that they have zero income and
Speaker 6: then what it should happen is the department at Promise.
Speaker 6: Now what is going to happen is I got it
Speaker 6: by them getting into this new repayment plan. Just like
Speaker 6: Troy had mentioned, they're going to be getting a zero
Speaker 6: dollar payment plan. Nine times out of ten if there's
Speaker 6: no income. Now they're going to have zero dollar payments
Speaker 6: counting towards an actual number to release them from student
Speaker 6: loan debt total, and that might be five, ten or
Speaker 6: fifteen years. We just have to see what all the
Speaker 6: numbers come out when the payment plan is released. So
Speaker 6: what we want to encourage these young people to do
Speaker 6: is we don't want them to be by the wayside
Speaker 6: and miss the ten and twenty k and then we
Speaker 6: also don't want them to go into default and mess
Speaker 6: up their credit. Then they need to just make sure
Speaker 6: every year they enroll into an IDR program and if
Speaker 6: it's a zero a lot of payment, there are a
Speaker 6: lot of payment. Now we hope that next year maybe
Speaker 6: it's a fifty dollar payment because what that means they're
Speaker 6: earning income. So we just want to make sure they know,
Speaker 6: kind of like when you do your taxes, you need
Speaker 6: to do your income driven repayment plan too, so that
Speaker 6: they can stay on the course and get this loan
Speaker 6: that done.
Speaker 13: Okay, well, thank you very much. I will relay that information.
Speaker 13: I appreciate you, na, thank you.
Speaker 4: Shout out to you to two thousand people in check
Speaker 4: in very important the like button and share this is
Speaker 4: very very important information.
Speaker 2: All right, who we got let's see. Let's see.
Speaker 5: Let's see, Michelle, we coming to you. I'm yourself. You've
Speaker 5: been on you to shout out to Euyo University. Man,
Speaker 5: no fridge breaks on?
Speaker 2: Did I just think nah this?
Speaker 5: She goes Michelle, what's going on? I'm good.
Speaker 7: How are you guys doing?
Speaker 2: I am great?
Speaker 7: Yes, Hi, sonya, thank you so much for this information
Speaker 7: you're sharing. I just had a quick question. So I
Speaker 7: fall under the categories I work in a school. I
Speaker 7: fall under the category of special services. I'm an occupational therapist,
Speaker 7: and I wanted to know does it work? Do you
Speaker 7: have to be a district employee in order? Like, first
Speaker 7: of all, do we even qualify for this? And do
Speaker 7: you have to be a district employee? Because I find
Speaker 7: that a lot of therapists, like speech therapists, physical therapists,
Speaker 7: and occupational.
Speaker 6: Therapists work in schools.
Speaker 7: Are more so contracted and not necessarily district employees. So
Speaker 7: I want to know.
Speaker 6: Because good question, Michelle. Let me just ask you a question.
Speaker 6: Who is your employer? Though?
Speaker 7: So my employer is technically like the contractor, so for example, like, uh,
Speaker 7: there are different companies who just compile I guess, for
Speaker 7: lack of better words, therapists and then they like contract them.
Speaker 6: Out to the school.
Speaker 7: So I'm I'm through a contractor.
Speaker 6: Okay, Michelle. If we were sitting in my living room,
Speaker 6: I probably would give you a few answers. So I'm
Speaker 6: going to see the lightly here. Okay, So Michelle, you
Speaker 6: may be eligible for the ten or the twenty k
Speaker 6: of course that we talked about earlier that the Bide
Speaker 6: administration is going to be given out. And Michelle, let
Speaker 6: me tell you what I saw, but don't avise. I
Speaker 6: did see some people. And you know, here's the thing.
Speaker 6: Guys with the Public Service lo't forgiveness program. They're just
Speaker 6: trying to get as many people approve me through as
Speaker 6: possible that there are any regulation checks happening. Not to
Speaker 6: say that they won't go back and do it. And
Speaker 6: orange is not our favorite color. What some people are
Speaker 6: doing is there is a loophole when you look at
Speaker 6: the Public Service. Don't forget this application that says who
Speaker 6: is an authorized signer to verify your employment? Well, Michelle
Speaker 6: wants you to read that section for yourself and then
Speaker 6: you decide how you want to do this. Some people
Speaker 6: that are in the same position as you are having
Speaker 6: the principle or that there's hr the school complete the
Speaker 6: form and not the contractor that contracted you. And what
Speaker 6: I say that is is because in the section of
Speaker 6: the form it does read that someone that can attest
Speaker 6: to your work history. And so that's the challenge, Michelle.
Speaker 6: Let me just tell you, I don't advise it the
Speaker 6: way I tell you to read and decide. We've seen
Speaker 6: people decide to do it that way, and we've seen
Speaker 6: them get their loans forgiven and get their forgiveness months.
Speaker 6: So it's really really catch you slide because you do
Speaker 6: work in a qualify and feel it's just the employer itself.
Speaker 6: It's not, but somebody that could attest to you working
Speaker 6: in that field could sign. So I'm gonna be really
Speaker 6: honest with you. This form is super gray. If you
Speaker 6: really want clarification, you can always call Mohillia Department of
Speaker 6: Education and see their thoughts on it. But this is
Speaker 6: just kind of what people find themselves in your position.
Speaker 7: Okay, what I qualify if I were a district employee, Yeah.
Speaker 6: Like if you if you work for the school district
Speaker 6: in any school district, like in that case, then of
Speaker 6: course you would qualify. Yeah, because you're working for essentially
Speaker 6: an entity of the city government.
Speaker 7: Okay, thank you so much.
Speaker 6: You're welcome.
Speaker 5: That was a great question because that's like, that's a
Speaker 5: tricky slope, right because they all contracted.
Speaker 6: You know what. I am so like uh so like
Speaker 6: nervous of like backlash when you answer Gray, I ain't
Speaker 6: trying see no clips like, but to be honest with you,
Speaker 6: I've read it several times. Other people have read it,
Speaker 6: and if you read the section, it is so great,
Speaker 6: Like a lot of this is great. So I always
Speaker 6: tell people use your own discretion and then if you're
Speaker 6: really unsure, the call and the Department Education and give
Speaker 6: the same scenario question and see what they would advise.
Speaker 2: Yeah. Yeah, And I'm sure there's a bunch of people
Speaker 2: thinking the same thing.
Speaker 4: And for the people on YouTube, somebody said, how do
Speaker 4: you get to ask questions? UIL University. Somebody said, membership
Speaker 4: it renews every single year you pay and once you
Speaker 4: lock in that price, that's the same price and it's
Speaker 4: twelve months from the time you sign up. So those
Speaker 4: are three questions. Hopefully those answer those questions for you
Speaker 4: two people. I get a couple more questions.
Speaker 5: See Silanda, I'm coming to you. I'm yourself. You've been
Speaker 5: on how you doing? Good night, good.
Speaker 8: Evening, I'm great, good evening. I am a speech pathologist.
Speaker 8: So to extend that question, I'm a speech co cologist
Speaker 8: in Houston. I don't work for school. I'm a voice
Speaker 8: specialist and I own my own private practice. Now, I
Speaker 8: have worked for the University of Houston as an adjunct professor,
Speaker 8: and I have student loans from grad school. So does
Speaker 8: this apply to me as.
Speaker 6: An adjunct professor? Let me just ask you a few questions.
Speaker 6: As an adjunct professor. How many hours of work would
Speaker 6: you say you have worked?
Speaker 2: You have?
Speaker 8: Well, I haven't done that. That was twenty fifteen to
Speaker 8: twenty seventeen, and I was there two days a week
Speaker 8: on campus.
Speaker 6: Okay, so on campus two days a week. Any work
Speaker 6: outside of that, because I'm trying to see if that
Speaker 6: will equal to thirty hours.
Speaker 8: Thirty hours always didn't have to be thirty hours a week.
Speaker 8: It was not thirty hours a week.
Speaker 6: Okay, all right, did me a favorite? Just hit me
Speaker 6: really quickly so we don't give some back feedbacks. I'll
Speaker 6: give you one more idea. Okay. Social line one of
Speaker 6: the things that I always teach my students that are
Speaker 6: entrepreneurs or contract is for themselves something you want to
Speaker 6: consider as having your own what's called nonprofit arm. So
Speaker 6: a little extra game for you guys tonight, and it's
Speaker 6: very legal and most big corporations do do this. And
Speaker 6: you guys are familiar Keysy, I think she's been on
Speaker 6: your show before to something that she's done with herself
Speaker 6: and her mom. And so what happens is you can
Speaker 6: think about Shilanda starting your own nonprofit for the speech
Speaker 6: pathology work that you do. And what that would do
Speaker 6: is it would allow you, as a paid employee of
Speaker 6: that nonprofit to be able to be eligible for the
Speaker 6: public Service lon't forgiveness program. So we see a lot
Speaker 6: of people doing this opportunity. Our tribe is literally in
Speaker 6: process of creating it now for themselves. Why is this important.
Speaker 6: It's important because the work that you do can also
Speaker 6: help you be a good giver in your business in
Speaker 6: terms of tax write offs. So let's say you wanted
Speaker 6: to help somebody a certain client or patient, but they
Speaker 6: just can't afford to pay you, right, but maybe under
Speaker 6: your nonprofit arm they could. But also now you're getting
Speaker 6: paid through your nonprofit ARM, so you be able to
Speaker 6: do that too. The only thing is you, of course
Speaker 6: don't sign your own paper, but you do have to
Speaker 6: be able to be paid out of that. So that
Speaker 6: might be an idea that you can take and run
Speaker 6: with and look more into. And you can literally google
Speaker 6: nonprofit ARM we talk about on our page. But you
Speaker 6: just need to be able to get yourself enroll because
Speaker 6: if you have six figures to loan that it won't
Speaker 6: just go away because you're doing great work every day
Speaker 6: at work. You also have to attach it to a
Speaker 6: forgiveness vehicle, and the one for you might be going
Speaker 6: through PSLF in the form of a nonprofit ARM. So
Speaker 6: hopefully that was a little bit of my source of
Speaker 6: game that can help.
Speaker 8: Well, I do have a nonprofit ARM, so I'm excited
Speaker 8: about that. How long do you think I signed up?
Speaker 8: Since twenty fifteen?
Speaker 6: Oh well, girl, let's gonna do. You're gonna do that
Speaker 6: same PSLF paperwork and you're gonna see what shat try.
Speaker 6: We gotta go back to basics.
Speaker 2: You gotta mute yourself because we get feedback. Perfect.
Speaker 6: She's good now, Okay, So Shalani gonna take that same
Speaker 6: paperwork the PSLF Limited waiver and you're gonna send it
Speaker 6: in and you're gonna get credit. So seven years of
Speaker 6: credit should be coming your way because you have the
Speaker 6: you have had the nonprofit. You gotta get this before
Speaker 6: October thirty first, because again it's no questions asked if
Speaker 6: you were making payments or that nonprivate was making money
Speaker 6: or just get it in all right, thank you, all right?
Speaker 5: Excited for you yet October thirty first, that's a big day.
Speaker 2: TRELO.
Speaker 5: We're coming to you. We're coming to you. I'mute yourself,
Speaker 5: you've been I'm muted. What's going on?
Speaker 6: I guys, thanks for taking my call.
Speaker 8: I heard you speak a little bit about signya and
Speaker 8: thank you for giving us this information.
Speaker 6: I heard you speak a little bit about if you
Speaker 6: were making payments during the pandemic.
Speaker 2: M H.
Speaker 3: Can you speak a little bit more about that, because
Speaker 3: I did pay a couple of my student loans off
Speaker 3: through this pandemic. H.
Speaker 6: So you can have you can apply through your lender
Speaker 6: to have those payments that you made we funded back
Speaker 6: to you because you were not required to pay. Some
Speaker 6: people paid to lower their principle. So I just want
Speaker 6: to be mindful that if you're gonna get the refund,
Speaker 6: then it takes away from the money you paid. That
Speaker 6: lowers your principal. But if you truly didn't you truly
Speaker 6: were making pays, it's because your Linda didn't updated and time,
Speaker 6: like Navan got in trouble with this one. Particularly, you
Speaker 6: know Naving guys didn't stop repayment until like six months
Speaker 6: into the pandemic, Like sir, that don't stopped immediately, like
Speaker 6: what's going on here? So if that was the same
Speaker 6: situation for you, you just didn't know better, you still
Speaker 6: had payments on auto payment maybe auto pay, then yeah,
Speaker 6: you could get that money back if you don't want
Speaker 6: it to go towards the principal of your loan. Okay,
Speaker 6: thank you, m All.
Speaker 5: I think we let's do like one more. Marshall, got
Speaker 5: two names here and eat it. It's it's it's a
Speaker 5: couple a duo.
Speaker 2: What's going on? You're good? How are you man killing?
Speaker 7: What's your question?
Speaker 6: I have two questions.
Speaker 13: One is.
Speaker 6: When i'm when I was in grad school, if I
Speaker 6: was working part time for the school, does that count
Speaker 6: or not?
Speaker 2: And then two.
Speaker 7: What was my second question?
Speaker 6: Yes, let me ask you a question. When were you
Speaker 6: in school with years so I was in grad school
Speaker 6: from twenty sixteen to twenty eighteen. Okay, so there was
Speaker 6: a clause that said from twenty and seven to thirteen
Speaker 6: they were giving you credit if you were in school,
Speaker 6: but you were past that period, so okay, I was
Speaker 6: an undergrad. Yeah, so it was just that I don't
Speaker 6: get these numbers away. It was just that five years yeah, okay,
Speaker 6: all right, okay, so that so that would encount. But
Speaker 6: then I have to be full time, right, yeah, at
Speaker 6: least the key word here is thirty hours a week. Okay, perfect,
Speaker 6: all right, thank you.
Speaker 2: Yep, some blessings, appreciate, y'all. All right, y'all have a
Speaker 2: good night.
Speaker 5: Yeah, that gets tricky, right, grad school because a lot
Speaker 5: of times grad school you don't get federal funding. To
Speaker 5: go to grad school. You got to take out a
Speaker 5: lot of private loans. So it gets really tricky when
Speaker 5: you're dealing with private school, I mean grad school undergrad
Speaker 5: Obviously there's more opportunities for federal funding.
Speaker 2: But that grasp things. That's a beast.
Speaker 6: That's a beast.
Speaker 4: That's a beast. Sonya. I want you to speak about
Speaker 4: your program that you have, believe you have. Is it
Speaker 4: an ebook?
Speaker 8: Yeah.
Speaker 6: So we put together a really really quick and easy,
Speaker 6: comprehensive ebook and we can share it with you guys.
Speaker 6: So it's called the Ultimate Loan Forgiveness Ebook. And how
Speaker 6: it works is, if you're listening, you would literally write
Speaker 6: this down, go to page seventeen. You know, the problem
Speaker 6: here is, Rachelle de Troy, people don't know how to
Speaker 6: do these applications for PSM left barber's defense. They may
Speaker 6: not know how to consolidate. So what we did on
Speaker 6: page seventeen of the e book is that we literally
Speaker 6: included a class for you to watch. You can purchase
Speaker 6: it now and watch it tonight and literally follow step
Speaker 6: by step with us on how to fill out the form.
Speaker 6: This section means this, tell your employee this, Oh, if
Speaker 6: your employee says this, and then the barber's defense. That's
Speaker 6: the twenty five page one. We literally went through that
Speaker 6: line by line. You should type this, did you experience this?
Speaker 6: You should write this. So, I mean, it's it's kind
Speaker 6: of like we don't want you to think too are
Speaker 6: but we wanted you to walk you through it our
Speaker 6: way of being able to help the masses because we're small,
Speaker 6: but nineteen we could not take as many appointments, we're
Speaker 6: booked out for like two weeks, so we made up
Speaker 6: on demand classes for you guys, and then we also
Speaker 6: included a class on how to consolidate as well. We
Speaker 6: talked about how do you know if you need to
Speaker 6: consolidate and how to consolidate, and then we included a
Speaker 6: class also that if you're wondering, but was any of
Speaker 6: my employees eligible for PSL left, we put a class
Speaker 6: on how to go through studenta dot gov and find
Speaker 6: that information too. So there's a lot of information just
Speaker 6: about forgiveness programs in general. And then page seventeen is
Speaker 6: where the real the money say is like click here,
Speaker 6: do this. And then we also gave them with the ebook.
Speaker 6: Included in the ebook access to private Facebook groups. So
Speaker 6: what's gonna happen is during the application process, you're gonna
Speaker 6: have a lot of questions, So we didn't want you
Speaker 6: to have to email or DM it. You're gonna literally
Speaker 6: join that Facebook group and say, hey coach so and
Speaker 6: so or hey sonya, I had a question. They sent
Speaker 6: me this back in the email, what do I do?
Speaker 6: And then we're responding in pretty much real time twenty
Speaker 6: four hours, so we're trying to it just provide as
Speaker 6: much support and on demand combined together if possible, if
Speaker 6: that makes sense, and we're doing oh last thing, we've
Speaker 6: also included for members only that purchased this ebook, some
Speaker 6: free live FAQ classes that we're doing pretty much bi weekly,
Speaker 6: so we're probably going to be increasing them in September
Speaker 6: to weekly again. But literally, you can come on like, hey,
Speaker 6: I got the ebook, I got to this point right here,
Speaker 6: and I just want to know should I click this
Speaker 6: or you know, should I fill this out? And you
Speaker 6: could just asks in real time in their smaller classes.
Speaker 6: So I mean, when I tell you that we're working
Speaker 6: like every day twice a day, three times a day,
Speaker 6: we're overdrive because October thirty first is really not that
Speaker 6: far away. So yeah, we can definitely share that ebook
Speaker 6: out with your tribe. Are you guys gonna share it
Speaker 6: or share it on my how?
Speaker 4: Yeah, it's in the link I put it. I just
Speaker 4: put it in YouTube comments, but it's in the link
Speaker 4: of this video, in the description of this video. I
Speaker 4: should say, it's in the description of this video and
Speaker 4: if you're listening to it, cause we're gonna put this
Speaker 4: on audio podcasts as well. If you're listening to it
Speaker 4: on Apple Spotify. When you hear it, it'll be in
Speaker 4: a description of it as well. So Sonya is best
Speaker 4: in the business. And the e book I think like
Speaker 4: forty seven something like that.
Speaker 6: Yeah, forty seven, that's it. So if you we wanted
Speaker 6: to make it as affordable as possible. We didn't want
Speaker 6: you to have to think too hard. We know the
Speaker 6: number one reason why people don't apply for things is
Speaker 6: because they're overwhelmed by it. Some people never even logged
Speaker 6: in the studio a doc ofv before. So it's just
Speaker 6: a really really friendly like us holding your hand through
Speaker 6: the process. And then the live support and the Facebook group.
Speaker 6: We just did added value because we didn't want people
Speaker 6: to feel lost. So we're really proud about the e
Speaker 6: book is selling really well. And not only is it selling,
Speaker 6: like literally forget all that about that. I'm excited when
Speaker 6: I wake up to three hundred and fifty seven thousand
Speaker 6: clear or really your conference, guys, I had like a
Speaker 6: little teary moment, you know, not have my face beat
Speaker 6: to the gods for your conference.
Speaker 2: That's a fact.
Speaker 6: I had to go get myself together because you know,
Speaker 6: men don't ever really say much men were coming up
Speaker 6: to me like I just want to tell you something.
Speaker 6: I'm like, what do you want to tell me? And
Speaker 6: they're like, okay, soak you I got one hundreds. He's
Speaker 6: like your dad, like your class. And then some people
Speaker 6: said they came to the conference just to give me
Speaker 6: a hug, like getting you a hug our ticket today.
Speaker 6: But you know, I would come give me a hug
Speaker 6: too if I got two hundred and two thousand. Forgive
Speaker 6: it from just a class, you know what I'm saying.
Speaker 6: So it's been really, really fun. I think we're we're
Speaker 6: just in great momentum. We're loving what we do. We're exhausted,
Speaker 6: but that's okay. I'd rather you know, sleep in November
Speaker 6: or something, but we got a lot of work to
Speaker 6: do before October thirty.
Speaker 4: First, for sure, I appreciate it. Yeah, get the Get
Speaker 4: the whole bundle. The link is in the description of
Speaker 4: this video. Like I said, if you have questions about
Speaker 4: student loans, it's a no brainer because I mean, you
Speaker 4: just saw we just covered in one hour, so imagine
Speaker 4: what's covered in hours of content and ebooks and different things.
Speaker 4: That nature so great way to you know, enhance your education.
Speaker 4: I saw somebody ask how was invest Fest. You must
Speaker 4: not have social media, because if you have any any
Speaker 4: form of social media, you're a No. Investments was a
Speaker 4: motion picture event at the highest level, at the highest level.
Speaker 4: Sonya was there, So I tell you.
Speaker 6: Something, guys. I was looking forward right first, shout out
Speaker 6: to the room with just yah, y'all know what. Y'all
Speaker 6: all right with me? So anyway, I'm looking forward and
Speaker 6: I and I literally was like, oh, man, probably like
Speaker 6: ten people come. I'll still teach the ten like it's
Speaker 6: a thousand, right. I turned around said, no, oh no, wait,
Speaker 6: I was. It was be here. Hey, it was so good.
Speaker 6: When the session was over, we just was like taking
Speaker 6: to the table and we just answered more questions as
Speaker 6: many as we could do. It was a It was
Speaker 6: just a phenomenal thing. I think you guys, I did yourself.
Speaker 6: And what I always love about your community and your
Speaker 6: conferences is that it's no it's frills, but it's people
Speaker 6: there that really want to get solutions and answers that
Speaker 6: people not there to show bode and like know that
Speaker 6: they're walking away with tangible answers and you're changing people lives.
Speaker 6: I mean, and for me here in Tyler Perry speak
Speaker 6: like my God like. He said something that really I
Speaker 6: won't go into it. He said this one thing I'm
Speaker 6: telling you all, this one thing that really freed me
Speaker 6: where I'm at personally and professionally. And he was just
Speaker 6: talking about going up and all this other stuff and
Speaker 6: I'm like, I'm going up, you.
Speaker 2: Know, my God Like, I just we know what you
Speaker 2: speak of.
Speaker 6: Yeah, so I came to be a blessing, but that
Speaker 6: was really a blessing to me. So I really am
Speaker 6: grateful for you guys to have him there. So just
Speaker 6: you guys are going to be blessed times ten and
Speaker 6: they're going to attribute back to your platform when they
Speaker 6: start getting their one thousand, one hundred thousand dollars. See
Speaker 6: loan that forgiven because of this class too.
Speaker 2: We're gonna have a loan forgiveness party.
Speaker 4: I appreciate it.
Speaker 6: I'm here for it.
Speaker 4: That's Tyler Perry. Situation was legendary.
Speaker 6: That that was good.
Speaker 4: Don't miss an eyl event, don't miss fashion, we don't
Speaker 4: miss invest Fast Europe. We're going to London on Halloween.
Speaker 4: That's going to be amazing. And don't miss Madison Square
Speaker 4: Guarden Market. Monday's at Madison Square Guarden real big yeah.
Speaker 6: Changing somebody's last name, that's all I'll say. You're changing
Speaker 6: somebody's last name. So you guys are so humble with it.
Speaker 6: You know, that's so awesome and amazing. But really, because
Speaker 6: of your platform, somebody's last name is going to be
Speaker 6: significant as it is for the healing, as it is
Speaker 6: for Walmart, because they got a chance to watch your
Speaker 6: your show. So really really grateful to be associated, to
Speaker 6: know you guys, Proud of you.
Speaker 4: I appreciate that.
Speaker 6: Thank you, Yes, yes, back of the day.
Speaker 4: Always always a pleasure. Thank you for your time. I
Speaker 4: encourage everybody to rewatch this video. It'll be on YouTube,
Speaker 4: It'll be on Apple and Spotify on Friday. So we
Speaker 4: watched this video, listen to it. Share. It's very important
Speaker 4: information and it's very sign time sensitive. Sign up to
Speaker 4: Sonya's program that just the link is in the description
Speaker 4: of this video. And we're running a forty eight hour
Speaker 4: flashel for Eyo University four ninety nine for twelve months
Speaker 4: and then were News at that same price. And that
Speaker 4: includes monthly calls with me financial planning group calls, that
Speaker 4: includes weekly classes just like this, that includes weekly investment
Speaker 4: classes with Chris. That includes the book club, the movie Club,
Speaker 4: access to the Facebook group, access to home buys, Blueprint
Speaker 4: Voume one and Volume two, and access to over two
Speaker 4: hundred pass classes. That's a lot. And for fashion, we're
Speaker 4: doing it a second day that just got added and
Speaker 4: that's just for Eyo University members. So we always do
Speaker 4: like special events and stuff like that as well. So
Speaker 4: start up for eight hours inter coode student. You have
Speaker 4: to enter colde though. The code is student intercold student
Speaker 4: at eyouniversity dot com. Fifty percent off for eight hour
Speaker 4: flash sale. Thank you guys, We'll see you next week.
Speaker 2: Yeah, shout shout out to the merch team.
Speaker 5: Shout out to the merch team, everybody that supported the
Speaker 5: merch obviously you know we rock Access of Liabilities.
Speaker 2: It's more than just the name now, it's a brand.
Speaker 2: So shout out to y'all.
Speaker 5: Fifty percent off right now with the code Investments twenty
Speaker 5: twenty two. Since we speaking about investments. It was a
Speaker 5: legendary moment and Sonya, thank you for being there because as.
Speaker 2: You are part of history. Not just everybody that.
Speaker 5: Was there in the tennis and that spoke on that
Speaker 5: stage and watch people speak.
Speaker 2: You are part of history. So shout out to y'all
Speaker 2: and go get some mercy.
Speaker 6: Man.
Speaker 2: Shout out to ya, everybody in the mersing.
Speaker 4: All right, y'all love us, love, peace, peace. So you
Speaker 4: have fashion Week.
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