WELCOME 2013 Future Impact Program A Financial Program for Fourth Year IUSM Medical Students March 2, 2013.

Slides:

Advertisements

Similar presentations

Student Loans and Debt Management Exit Interview Cheri Marks Coordinator of Financial Aid and Student Records Spring 2012 Disclaimer: All information and.

Advertisements

- Confidential Document, Property of Graduate Leverage, LLC - Dental Students’ Finances: A Strategic Approach to Debt Management ASDA Western Regional.

Income-Based Repayment (IBR) Basics

STUDENT LOAN REPAYMENT Presentation To WFAA Conference, October 2011.

2015 Counselor Training Paying For College Strategies after all of the student’s “free” money has been exhausted.

Repayment Loan Options

Vanderbilt University School of Medicine.  Available Jan. 1  Complete prior year tax returns  FAFSA – Free Application for Federal Student Aid  Need.

Step 1: Loan portfolio Federal loans at Information on loan servicers – One servicer for federally owned loans – ECSI.

How you could have over $150,000 of your Direct Loans forgiven. Student Loan Repayment and Forgiveness.

1 Public Service Loan Forgiveness and Career Paths Presented by: Student Financial Services and Career Services.

Student Loan Repayment Strategies William Kahler Director of Financial Aid California Western School of Law.

IBR – One Year Later and Public Service Loan Forgiveness EASFAA 2010 May 17, 2010 Stephen G Brown Fordham University School of Law.

Senior Updates Financial Aid Office. KNOW YOUR LOANS NSLDS Access Federal Loan Servicers Repayment Options –Standard, Graduated, Extended, ICR, IBR, PAYE.

Overview of student loan repayment options Capital University Law School Managing Student Debt.

Loan Repayment, Exit Counseling Deferment and Forbearance.

2011 Graduating Students Exit Loan Counseling. What is an Exit Interview & Why Do I Need to Do It? The FEDERAL government requires that Federal Loan recipients.

PASFAAA Spring Training. Counseling Borrowers on Pay as You Earn and Income-Driven Plans.

Loan Repayment Options Presented by: Kesha N Wilson & Malik Gladden Date: 5/20/2014 Event: VASFAA Annual Conference Norfolk State University.

MASFAA 2013 October 6 th – 9 th, 2013 Indianapolis, Indiana Understanding Loan Repayment Plans and Alternative Repayment Ron Hancock, Nelnet Christine.

Sponsored by Welcome COUNTRY Financial® proudly provides financial literacy education to your classroom. Financial literacy is important, no matter how.

2014 Financial Aid Exit Interview College of Dentistry College of Dentistry Class of 2014 University of Illinois at Chicago.

Manage Your Student Loans Sandi Nowakowski, Loan Manager Office of Student Financial Aid Office of Student.

LOAN ENTRANCE INTERVIEW DENTAL SCHOOL CLASS OF 2018 Responsible Borrowing Leads to Responsible Repayment.

Money Management for Entering Medical School Students Entrance Interview Texas Tech HSC Fall 2014 Disclaimer: All information and estimates are based on.

Lifting the Burden on Public Interest Lawyers Public Law Philip G. Schrag Professor of Law, Georgetown University.

Income-Driven Repayment Plans & Public Service Loan Forgiveness.

Student Loans and Debt Management Exit Interview Cheri Marks Financial Aid Coordinator Spring 2011 Disclaimer: All information and estimates are based.

Student Loan Repayment Presented by Bill Bufkins.

Public Service Loan Forgiveness and Income-Based Repayment March 2011.

Income Based Repayment and Public Service Forgiveness David Dahlen Director of Student Financial Aid/Registrar Mayo Clinic, College of Medicine

Student Loan Repayment

Debt Management for Dental Students Jason DiLorenzo.

OFFICE OF STUDENT FINANCIAL AID MED S CHOOL L OAN R EPAYMENT A MY W HITFORD, F INANCIAL A ID C OUNSELOR, , FINAID. WISC. EDU S ANDI.

Your future. Our Mission. Student Financial Assistance Office.

April 2014 Loan Repayment for Graduating Students.

Student Loans 101 …….. how do you keep on top of all the changes?

Financial Aid PLP Financial Aid Office

2014 Counselor Training Paying For College Strategies after all of the student’s “free” money has been exhausted.

FIRST Financial Information, Resources, Services, and Tools for Medical Education Student Loans and Debt Management Spring 2009.

 One Lender, One Monthly Payment  Free consolidation, no hidden fees  Flexible Repayment Options: 4 different plans 

FIRST Financial Information, Resources, Services, and Tools for Medical Education Student Loans and Debt Management Spring 2010 NOTE: All information and.

Financial Aid for Medical School March 8th, 2014 Daniel Hewitt Director of Financial Aid – Virginia Campus.

Loan Exit Counseling Facts & Tips. AGENDA What types of loans do I have? Where can I find my loans and who is my loan servicer? What are my Federal Direct.

Public Service Loan Forgiveness March College Cost Reduction and Access Act Public Service Loan Forgiveness Income-Based Repayment.

TAKE CHARGE OF LOAN REPAYMENT! Strategies for Managing Your Debt Successfully Spring 2013 Jeffrey Hanson Education Services Tulane University School of.

1 Congratulations Class of 2013! From: The Financial Aid Office Team (Atheia, Jacqui, Kristin, Melissa, Sean, Sue, Tom, Usha)

Loan Consolidation 101 The ‘Who, What, Why, When & How’ of Student Loan Consolidation.

Money Management for Medical Students Entrance Interview Ellen McGuire Director of Financial Aid TCMC August 10, 2011 Disclaimer: All information and estimates.

10/5/ Educational Loans – Repaying and Consolidating

Public Service Loan Forgiveness NYSFAAA Region 2 B.J Revill Director of Financial Aid Univ. of Rochester School of Medicine and Dentistry.

TAKE CHARGE OF LOAN REPAYMENT! Strategies for Managing Your Debt Successfully Jeffrey Hanson Education Services University of San Francisco School of Law.

Repayment Programs Presented by FedLoan Servicing & Nelnet Loan Servicing.

FIRST Financial Information, Resources, Services, and Tools for Medical Education Student Loans and Debt Management Spring 2010 NOTE: All information and.

Forgiveness programs Income Based Repayment (IBR) after 25 years* Pay As You Earn (PAYE) after 20 years* Public Service Loan Forgiveness, assuming borrower.

Consumer Outreach – Special Issues – Student Loan Debt Wendy Badger, Chief Compliance Officer ECMC Group, Inc.

Income-Driven Repayment Plans Overview Pay As You Earn Plan Income-Based Repayment Plan Income-Contingent Repayment Plan Income Sensitive Repayment.

Income-Driven Repayment Plans/Pay As You Earn (PAYE)

WELCOME 2015 Future Impact Program A Financial Program for Fourth Year IUSM Medical Students March 7, 2015.

Repayment Strategies UCSD School of Medicine Class of 2013 Paul S. Garrard Founder and President, PGPresents, LLC Independent Student Loan Consulting 2013.

Federal Student Loan Repayment Options NEASFAA, March 2016 Tom Ramaeker Senior Strategic Business Director, Inceptia.

Public Service Loan Forgiveness Program PRESENTED BY The Foundation for Financial Education A 501(C)(3) NONPROFIT ORGANIZATION.

Loan Basics Julie Wittmis Financial Aid Advisor – Texas Woman’s University New Aid Officers’ Workshop 2016.

PUBLIC SERVICE LOAN REPAYMENT STRATEGIES Spring 2014 Tulane University 1 Jeffrey Hanson Education Services.

Financial Aid Entrance Counseling Campbell University School of Osteopathic Medicine.

2016 Financial Aid Exit Interview College of Dentistry College of Dentistry Class of 2016 University of Illinois at Chicago.

Congratulations Class of 2016! From: The Financial Aid Office Team 1.

MANAGING STUDENT DEBT Considerations for 2016 Utah Interns.

Medical School Debt Management

Student loan Overview.

2019 Financial Aid Exit Interview College of Dentistry

Presentation transcript:

WELCOME 2013 Future Impact Program A Financial Program for Fourth Year IUSM Medical Students March 2, 2013

Educational Debt Management Options During Residency

Repayment Plans

Grace Period of time following graduation when you are not required to make payments on your loans It is Automatic, you do not have to apply. It must be used first before any other options to delay repayment can be activated. Subsidized loan interest is paid by the Federal government making the loan essentially interest-free to the borrower during grace. Unsubsidized loans that includes the Federal Unsubsidized Stafford Loan and the Federal Graduate PLUS Loan continue to accrue interest during the grace period. Availability and duration is loan specific. For example, the Federal Stafford Loan grace period is 6 months after graduation, Federal Perkins Loan is 9 months, and 1 year grace for the Cunnison, LDS and PCL loans. Accrued Interest Capitalizes at the end of the Grace Period.

The most feasible options during residency Pay Later (using forbearance) Pay Now (using Income-Based Repayment or Pay As You Earn)

Forbearance Mandatory Medical Internship/Residency Forbearance - Used to postpone payments - Requested annually from the servicer - Interest accumulates on Stafford sub and unsub loans - Interest on Grad PLUS Loan continues to accrue - Continuous periods may avoid capitalization

Income-Based Repayment Benefits Partial interest subsidy during the first 3 years Unpaid interest does not capitalize when: Annual paperwork is filed timely Borrower demonstrates a PFH Possible Loan forgiveness after 25 years Payment based on ((AGI – 150%) X 15%) / 12 Income as reported to the IRS. Annual verification required of both AGI and family size.

QUICK LOOK UP CHART FOR IBR

Pay As You Earn (PAYE) Benefits Must not have borrowed prior to Unpaid interest does not capitalize when: Annual paperwork is filed timely Borrower demonstrates a PFH Possible Loan forgiveness after 20 years Payment based on ((AGI – 150%) X 10%) / 12 Income as reported to the IRS. Annual verification required of both AGI and family size.

QUICK LOOK UP CHART FOR PAYE

Income-Based Repayment

Public Service Loan Forgiveness

Terms and Conditions What is considered Public Service? Non-profit, tax exempt, 501[c](3) organizations Federal, State or Local Government Military Service Public Schools and Colleges

QUICK HOSPITAL LOOK UP -

Other Loan Forgiveness Programs

Other Alternatives to Debt Repayment Army National Guard Medical Opportunities Army Reserve Incentive Program (STRAP) Army Active Duty Incentive Program (FAP) Other military Programs (Navy, Air Force)