Student Loans

Pros And Cons Of Student Loans – MAJOR STUDENT LOAN SERVICER CHANGES ARE COMING!

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Pros And Cons Of Student Loans – Best Deal Right Now?

Major student loan servicer changes are coming this year!! Here’s what you should know, what to expect, and what you might want to do if you have federal student loans that might be affected by these changes. If you have student loans with Cornerstone, Nelnet, or Great Lakes, you’ll want to listen up!

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20 Comments

  1. E. Sowell
    July 31, 2021 at 10:27 am

    I commend your dedication to making financial knowledge comprehensible and accessible! If I could give you a social-distanced hug, I would, but I'll say thank you for now!

  2. Joe Faifer
    July 31, 2021 at 10:27 am

    Defaulted on my loans and they've been sitting with ICR. Just got transferred to Great Lakes. My laptop is like a digital camera right now! *snapshot *snapshot *snapshot

  3. Tina Michele
    July 31, 2021 at 10:27 am

    Thank you for this video. I have FFEL (formerly Stafford, now consolidated) with Navient (who I LOATHE). Because I was left out of CARES, I'm about to request direct consolidation. Do you have any recommendations on which lender to choose? I'm thinking OSLA… I'm not sure the difference between not and for profit, but it can only be better? I assume they all offer the same kind of interest rate reductions for autopay, etc…

  4. Ciara Ni'Rita
    July 31, 2021 at 10:27 am

    I have Navient and love to transfer back to MOHELA their service was great when I had them

  5. Vegan Mani
    July 31, 2021 at 10:27 am

    Wow the more you know! Thank you so much for sharing this. Waiting on details for my service provider change.

  6. Zion Lewis
    July 31, 2021 at 10:27 am

    Thank you for this!!

  7. Beth Harper
    July 31, 2021 at 10:27 am

    On great lakes it won't let me screen shot. Ugh

  8. Nougat Bar
    July 31, 2021 at 10:27 am

    Great info. Loved the taking screenies of everything

  9. Cooper_87
    July 31, 2021 at 10:27 am

    Good info here, people should heed what you say as not all servicers are equal. FedLoan is one of my servicers, and is the only one I have never had problems with. They were the first to defer payments when I went back to college for a second degree, and were the first to delay payments to 2021 for Covid. They are also really good about working with you regarding your financial status (they gave me a deferment when I was unemployed). I had Nelnet (the third owner of one of my loans) and they were okay but the loan got transferred to Firstmark, who undid my deferment and started charging late fees for a "missed" payment despite the call for delays due to Covid and the fact I am currently enrolled in classes. Luckily the balance was low enough that I paid that one off. And if people think federal student loans are bad, wait until you see how crappy private student loans can be. Pro tip: Avoid unsubsidized student loans if at all possible.

  10. Danielle Bernier
    July 31, 2021 at 10:27 am

    Where can I sign up to get the alerts about these contract notices and changes with the DOE? Is there a website you use, or an org you follow? I also subscribed to your channel! Thanks

  11. Gennaro
    July 31, 2021 at 10:27 am

    I had cornerstone, they were an awful service, so thank God I'm done with them.

  12. Fun and Budget with Tinesha Davis
    July 31, 2021 at 10:27 am

    Thumbs Up!

  13. Mocha Brown
    July 31, 2021 at 10:27 am

    I have Nelnet. I haven't gotten an email yet about the changes, but I did get an email about renewing my FAFSA haha. So this was a great video! Currently looking into your videos on claiming education credits. Thank you!!

  14. Kanika
    July 31, 2021 at 10:27 am

    Hey!! I’m with Navient so I should be safe right? So technically I can make payments on my loans but I don’t have start paying them back until Dec. 2021, correct?? Sorry if I need more clarification, I’m still so new to loans and money

  15. Alexis Sanchez
    July 31, 2021 at 10:27 am

    Omg thank you for this information! All my loans are with Great Lakes. You are helping soooo many people with this thank youuuu!

  16. Stephanie Grant
    July 31, 2021 at 10:27 am

    0:21 I help you setup a blog and setup to earn money whtsap +7-967-157-05-81

  17. Danielle Leone
    July 31, 2021 at 10:27 am

    You just saved me! I'm with Great Lakes. Taking screenshots now. Thank you!

  18. LexiCat
    July 31, 2021 at 10:27 am

    My student loans are coming due soon at end of my Masters. However I’m now living in Canada looking for help with strategies on paying them back while not living in US, it seems crazy to have to transfer money to US for the life loan payback…..

  19. Mind Your Money
    July 31, 2021 at 10:27 am

    Thanks for sharing these updates! All of my loans are currently serviced through Great Lakes. Thankfully I have less than $14k left. I'm hoping to pay them off before any loan transfer occurs.

  20. Gaylan Wright
    July 31, 2021 at 10:27 am

    1st