STUDENT LOAN DEBT & RELIEF

Interested in knowing the latest on student loan debt and relief?

Our staff moderator Kwami Abdul-Bey spoke with our guest panelists from the National Consumer Law Center, the Student Borrower Protection Center, Student Loan Law Workshop (unable to attend), and the Center for Arkansas Legal Services. Panelists shared their expertise on topics like the Biden administration’s SAVE plan, Public Service Loan Forgiveness, Fresh Start, income-driven repayment, & bankruptcy discharge.

As always, we left some time to take questions from live viewers!

You can join our Sept. 29 "STOP CORPORAL PUNISHMENT IN SCHOOLS" webinar and any future ones live at either on FB or Zoom. Register at www.arpanel.org/events.

This live event is part of the Arkansas Public Policy Panel’s ongoing Friday Noon Webinars and in partnership with the Center for Arkansas Legal Services.

🔹STUDENT LOAN DEBT RELIEF RESOURCES🔹

🔹ARKANSAS PUBLIC POLICY PANEL RESOURCES🔹

🔹Q&A WITH LIVE-STREAM WEBINAR PARTICIPANTS🔹
(ANSWERS GIVEN VERBALLY BY PANELISTS)

  • Q: Are there any indications that the interest rate overall might be lowered or zeroed out? Mine is still at 4.75 percent?

  • Q: If someone works in public school for 25 years, will they be eligible for forgiveness?

  • Q:  Will any of you discuss total & permanent disability (TPD) discharge? I'm on the verge of having my law school debt wiped out due to drawing SSDI & regulatory changes that went into effect in July. More people on SSDI and/or SSI now qualify, and a huge loophole that caused many borrowers to lose their TPD discharges was eliminated.

  • Q: Will those who are forgiven their debt after 25 years be taxed by the State of Arkansas

  • Q: Are there any studies on how the end of the payment pause will impact the overall economy going forward?  If 16 million of borrowers are now paying X dollars per month on the student loans, will this inevitably impact their capabilities to make other consumer purchases?  If I'm paying $600 per month on my loan, that money will not be spent on other sectors in our economy.

  • Q: What are the options for a person that becomes disabled and no longer able to work?  I filed the disability discharge and was denied because they said my disability review date was not within 5 to 7 years. The letter that I sent in with my application said at this time the above named is not up for review. What other recourse do I have? I am unable to financially pay the student loans

  • Q: Is it possible for a person to qualify as a volunteer board member for an organization/501c3? Are the subsidized and unsubsidized loans going to be forgiven?

  • Q: I’ve applied for PSLF and have my previous employers verified as well as made my 120 qualifying payments- however by the time I applied I am no longer working at a qualifying employer. Is there a way around this?

  • Q: The new SAVE act is amazing. they can't take more than10% of your discretionary income.

  • Q: Arkansas currently DOES tax student loan forgiveness at state level (except rare bankruptcy discharges), but SOME legislators have started discussing adoption of the Federal exemption. That could happen at the proposed special session OR the 2024 fiscal session.

  • Q: I applied for the Public Service SL Forgiveness over five (5) years ago, and I am no longer employed by the State of AR. I have not heard anymore from FSL. What do I do?

  • Q: Fantastic Friday!  Is there a cutoff date of loans that will qualify for loan forgiveness?  Meaning, if I obtain a loan Fall 2023, will this eventually be forgiven?  I am currently a state employee, currently enrolled in school.

  • Q: The 5-7 year to 3 year change got me in. The website is disabilitydischarge.com; they now have an updated form.

  • Q: Can we get the link referenced in answering Wilson's question on subsidized/unsubsidized loans?

  • Q: Did Ms. Doan mention that Arkansans will or will not have to pay taxes on the forgiven amount?

  • Q: Looking forward, do you think the Biden admin's 2nd attempt at canceling some debt using the higher ed act of 1965 will be successful?

⬇️ MEET OUR PANELISTS ⬇️

 🔹Alpha S. Taylor
Alpha is a staff attorney at the National Consumer Law Center, focusing on student loans and other consumer law issues. Previously, he worked as a staff attorney for the Legal Aid Society of Greater Cincinnati, handling foreclosure, eviction, and student loan cases. He also established the Hamilton County Eviction Prevention Project, which helps low-income tenants avoid eviction. After moving to DC, Alpha worked for a non-profit tenant defense organization and an appellate litigation law firm. Alpha is a graduate of Case Western Reserve University School of Law and Virginia Commonwealth University.

 🔹Amy Czulada
Amy is the Outreach & Advocacy Manager at the Student Borrower Protection Center. Previously, Amy was a Research Analyst at 32BJ SEIU in New York City. Prior to her work at SEIU, Amy was heavily involved in research and activism around wage theft in the greater Denver area and was also part of the Sanctuary movement in Denver. She graduated with her master’s degree in International Studies from the Josef Korbel School at the University of Denver and has a bachelor’s degree in English and Spanish from La Salle University, Philadelphia.

 🔹Cecille Doan
Cecille is a leading consumer attorney and the Subject Area Manager for the Center for Arkansas Legal Services Consumer Protection Group. She has been defending the rights for minority groups and low-income Arkansans for over 12 years. She manages four staff attorneys, a paralegal, and works side-by-side with leading pro bono attorneys to advocate for consumer rights for over half of the state. Under her leadership, the Center for Arkansas Legal Services provides free legal representation to thousands of low-income individuals in creditor harassment, unfair and deceptive sales practices, wage garnishments, and debt relief, to name a few.

Throughout her career, she has taken a stance against predatory lending practices, unconscionable contracts, and has given people hope through debt relief options. All of this was done to help our most vulnerable communities in Arkansas and give them equal access to justice. Cecille Doan also serves on the Board of Directors for the Arkansas State Debt Collection Agencies. And she is admitted to the Arkansas Bar and the Eastern and Western District Courts of Arkansas.

🔹 Joshua Cohen
Joshua has been the student loan lawyer since 2008, helping borrowers better understand and manage their student loan debt. He started teaching attorneys to do what he does in 2011 and is now in his 12th year of running the Student Loan Law Workshop. He very much enjoys the challenges and nuances of student loan work and is always eager to review a case for potential discharge in bankruptcy. He has a BA from Brandeis University, an MBA, and a JD from Quinnipiac University School of Law.

Organized people have power.