The History of Student Loans, Pt. 1 [REPLAY]

How (and Why) to Review Your Student Loan History [REPLAY]

EPISODE RESOURCES Student Aid Website [https://studentaid.gov/]   How to Download and Read Your NSLDS File on StudentAid.gov (and Spot Forgiveness/Credit Errors) As student loan guidelines change and they apply past credit to borrowers' accounts, it's important you know how to review your loan history. In this episode, we discuss how to download and review your NSLDS data file, and easter eggs in the document that could lead to faster loan forgiveness than you think. We walk listeners through creating/logging into a studentaid.gov account, navigating to My Aid, viewing details, and using “Download My Aid Data” to obtain the NSLDS file, which initially looks confusing but includes critical data. Using a de-identified sample, We show how to verify and update contact information, review total disbursements and balance growth over time, check Pell Grant lifetime usage, identify which loans are Direct vs. FFEL/Perkins and may require consolidation for forgiveness eligibility, and read loan status timelines to spot improper long consecutive forbearances that may need correction. We end by previewing deeper guidance on consolidated loans, PSLF, and updated income-driven repayment rules in the next episode. 00:00 Why Your Aid Data Matters 00:54 NSLDS File Overview 02:20 Create Your StudentAid Account 03:02 Find and Download Aid Data 04:31 What You’ll Learn Next 05:45 Read the Top of the File 06:40 Loan Totals and Balance Growth 08:00 Loan Types and Consolidation Clues 09:34 Decode Status and Payment History 11:32 Spot Forbearance Rule Violations 13:28 Wrap Up and Next Episode

The History of Student Loans, Pt. 1 [REPLAY]

EPISODE RESOURCES The Debt Trap [https://www.amazon.com/Debt-Trap-Student-Became-National/dp/1501199447] The History of Student Loans, Pt. 2 [https://www.buzzsprout.com/2462459/episodes/16824780] How Student Loans Started: From GI Bill Direct Loans to Federally Backed Bank Loans (1944–1965) During a light week for federal student loans, we replay our very first Escape Student Loan Debt episode on how the student loan system began. Join us as Brenton covers key student debt milestones: the 1944 GI Bill’s uneven access for Black, brown, and some female veterans; the 1958 National Defense Student Loan Program that produced Perkins Loans; the 1960 creation of the United Student Aid Fund to guarantee bank loans; and the 1965 Higher Education Act creating the Guaranteed Student Loan Program (later Stafford/FFEL), a public-private model that obscured federal costs until defaults.  00:00 Weekly Update And Replay 01:19 Podcast Intro And Host 02:07 Why History Matters 02:53 Two Minute Crisis Summary 04:28 GI Bill Origins 1944 05:31 Perkins Loans 1958 06:06 Budget Reporting Problem 07:44 USA Fund And Bank Guarantees 09:07 Midroll And Assessment 09:44 Higher Education Act 1965 10:47 FFEL Model Explained 11:55 Wrap Up And Next Episode

Student Loan Regulation Updates!

EPISODE RESOURCES RISE Student Loan Regulations Fact Sheet [https://www.ed.gov/media/document/rise-final-rule-fact-sheet-113947.pdf] ...I Just Lost $33,709 Episode [https://podcasts.apple.com/us/podcast/i-just-lost-%2433-709/id1650454675?i=1000763415026] Repayment Assistance Plan Explained [https://podcasts.apple.com/us/podcast/the-repayment-assistance-plan-explained/id1641942083?i=1000761974272] Finalized DOE Student Loan Rules: New Caps, Repayment Assistance Plan, and Default Rehab Changes (Effective 2026–2027) In this episode we share newly finalized Department of Education regulations tied to the Working Families Tax Cuts Act and explain how they may affect student loan borrowers starting in 2026–2027. We outline new federal loan caps beginning July 1, 2026: graduate loans limited to $20,500 annually/$100,000 total; professional programs (11 fields including law, medicine, dentistry, and clinical psychology) to $50,000 annually/$200,000 total; and Parent PLUS capped at $20,000 annually/$65,000 per dependent, plus a $257,500 lifetime limit for new borrowers. We also cover repayment changes including a new Repayment Assistance Plan becoming the only income-driven option for first-time borrowers after July 1, 2026, a tiered 10–25 year standard plan, expanded loan rehabilitation to twice per loan with IDR opt-in at agreement signing, revised forbearance limits, sunsetting certain deferments for loans after July 1, 2027, and new institutional and part-time borrowing rules, warning current borrowers to be cautious about taking new loans. 00:00 New Rules Overview 00:20 Community Updates 01:36 Fact Sheet Breakdown 02:24 Graduate Loan Caps 03:13 Professional Degree Definition 04:53 Parent PLUS Limits 07:10 Lifetime Borrowing Cap 07:54 Repayment Plan Overhaul 09:17 Tiered Standard Plan 10:41 Default Rehab Changes 13:04 Deferment Forbearance Shifts 14:01 School Part Time Limits 15:16 Key Takeaways Next Steps

The Repayment Assistance Plan Explained

EPISODE RESOURCES Download the updated IDR Guide! [https://escapestudentloandebt.com/guide] Repayment Assistance Plan (RAP) Explained: Eligibility, Payment Calculation, Subsidies, and Who Should Use It The episode breaks down the forthcoming Repayment Assistance Plan (RAP)! We dig into all the details ranging from who's eligible for RAP, to how Discretionary Income and protected income are thrown out the window when it comes to calculating payments. We cover scenarios where RAP saves money as compared to other options, and how to determine whether it's worth paying 5 to 10 years longer on RAP as compared to more conventional plans like IBR and PAYE. Check it out! 00:00 RAP Overview 02:00 New IDR Deadlines 03:35 Guide Walkthrough 04:05 Eligibility Basics 04:35 No Protected Income 06:02 Payment Formula 08:00 Income Cliffs 09:24 Dependent Discount 09:57 No Hardship Cap 11:17 Interest Subsidy 15:08 30 Year Forgiveness 15:48 Married Filing Separately 16:27 Who Should Use RAP 17:39 Low Income Example 19:20 High Income Example 21:53 Mega Borrower Tax Bomb 27:27 Final Recommendations 28:10 Wrap Up

EMERGENCY EPISODE!!!

EPISODE RESOURCES SAVE Plan Cancellation Press Release [https://studentaid.gov/announcements-events/idr-court-actions] SAVE Plan Timeline Press Release [https://www.ed.gov/about/news/press-release/us-department-of-education-announces-next-steps-borrowers-enrolled-unlawful-save-plan] Parent Plus Loan D-Day, Disallowed Student Loan Guidelines and Details on the Immediate Future of the SAVE Plan In this episode, we go through EXTREMELY important details on the future of Parent Plus Loans, and why many borrowers need to take action by April 1st in order to preserve eligibility for student loan forgiveness. These borrowers must have a newly consolidated loan disbursed by July 1st to maintain eligibility, and all parents should be wary of borrowing any new Parent Plus Loans after that time. We also cover certain student loan guidelines from the Biden era that have been disallowed, including, crucially, the ability to consolidate federal loans without resetting your credit towards forgiveness. Lastly, for borrowers on the SAVE plan, we have details on the 90 day timeline borrowers will have to move to a new Income Driven Repayment plan or risk being placed on a (likely significantly higher) Standard Plan. Tune in for details!