Special Invitation from the Director of Student Financial Aid
Greetings Panther Alumni, Faculty, and Staff:
As we know, student loan repayment has been pushed back SIX times since March 2020 – but this ongoing pause may be coming to an end. On the bright side, last fall, the U.S. Department of Education announced a MAJOR reform to the Public Service Student Loan Forgiveness Program and provided new hope and faster relief for over 550,000 borrowers. With student loan payments resuming in December, it is more important now than ever for borrowers to explore their student loan repayment options and start planning. We should all be prepared to take the time now while payments are still paused to look into repayment options, such as income-driven repayment plans, which may lower monthly payments, and exploring our options on how to make a smooth transition to repayment. The FY 2018 National Cohort Default Rate (CDR) is 7.3%, with PVAMU sitting slightly above that at 10.6%. You may be wondering, what’s the Cohort Default Rate and what does that have to do with me? A CDR is the percentage of a school’s borrowers who enter repayment and have defaulted on certain FFEL or Direct Loan programs during a particular fiscal year. If a school’s default rate is too high, above 30%, the school could lose access to financial aid, specifically federal grants and loans. Being in this position would have a major impact on PVAMU. The goal is to continue to educate our current and former students about ways to manage and repay their student loans so that we continue to lower our CDR. As a part of our efforts, the PVAMU Office of Student Financial Aid has joined forces with Trellis Company to provide information on how to navigate the complexities of federal student loan programs, such as the recent loan forgiveness and the Public Service Loan Forgiveness (PSLF) program. This workshop will help the PVAMU family prepare for the federal student loan repayment pause in December 31.
We hope that you will join us for this informative virtual event. Please RSVP for one of the following sessions:
Wednesday, September 21, 2022 at 6 p.m. https://us06web.zoom.us/webinar/register/WN_8nQfpPS7Sqidgux99DdpUA
Thursday, September 22, 2022 at 6 p.m. https://us06web.zoom.us/webinar/register/WN_wv0iuqhlQnaCHfRdtgDJfA
We can’t wait to see you!
Sincerely,
Joy D. Thomas, Ed.D. Director, Student Financial Aid
THE OFFICE OF FINANCIAL AID AND TRELLIS COMPANY PRESENT
PUBLIC SERVICE LOAN FORGIVENESS WEBINAR
YOU MAY QUALIFY FOR A LOAN FORGIVENESS PROGRAM
Join us to learn more about the Public Service Loan Forgiveness (PSLF) limited waiver deadline and the recent announcement on the Student Loan Forgiveness Plan. We will share the following information: • Public Service Loan Forgiveness Program • PSLF limited waiver • Helpful tools and additional resources to help navigate the submission process • Payment Pause Extension • Student Loan Forgiveness Plan WEDNESDAY, SEPTEMBER 21, 2022 OR THURSDAY, SEPTEMBER 22, 2022 6:00 PM - 7:00 PM REGISTER TODAY TO SECURE YOUR SPOT
Wednesday, September 21, 2022 https://us06web.zoom.us/webinar/register/WN_8nQfpPS7Sqidgux99DdpUA
Thursday, September 22, 2022 https://us06web.zoom.us/webinar/register/WN_wv0iuqhlQnaCHfRdtgDJfA
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