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Bruce Mesnekoff Talks about how 2016 Changes can help you pay off your Deb PowerPoint Presentation
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Bruce Mesnekoff Talks about how 2016 Changes can help you pay off your Deb

Bruce Mesnekoff Talks about how 2016 Changes can help you pay off your Deb

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Bruce Mesnekoff Talks about how 2016 Changes can help you pay off your Deb

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  1. Bruce MesnekoffTalksabouthow2016 Changescan help you payoff yourDebt. Thenew programs arebeing introduced eachyearin an effort to provideStudentLoan borrowerswith relief.Ifyou’reseeking student loan repayment help in 2016, thefollowing developmentsmight offer just whatyou’vebeen searching for. Here Ourexpert BruceMesnekoffgiving tips about howyou changeyourdebt scorein 2016. TheBirth OfREPAYE Introduced in 2016 asacompanion to other income-driven repayment programs, REPAYE program opens repayment assistanceup to an additional 5 million borrowers eachyear. Borrowerscan cap theirmonthlystudent loan payment at 10percent of their discretionary income. As an added bonus, thoseon the REPAYE program can haveanyremaining balancesforgivenafter 20years ofon-timepayments forundergraduate students and 25yearsforgraduate students. Thecatch?You’ll need to payincome taxes on the amount forgiven onceyou exit the program. Student Loan Repayment AssistanceNowaWorkplacePerk According to astudyfrom theSocietyfor HumanResources Management(SHRM),approximately3 percentof U.S. employers havebegun offering loan repayment as an employee benefit. That numberwill likelygrow as more employersrealizethe need for this benefit and roll it into existing packages to attractyoung talent. Infact,arecentstudent loan benefits surveyconducted byStudentLoan Help Centershowed that almost half ofrespondents valued student loanrepayment over a400(k)employer match. This kind ofresponse shows just how important student loan help has become foryoung workers – and how it will transform benefits packages across thecountry. NewState-Sponsored Refinancing Options As federal benefits areexhausted and requirementstightened forthe growing numberof graduates with student loan debt, morestates havebegun offering theirownstudent loan refinancing optionsfor borrowers. NYS GetOnYour Feet Loan Forgiveness Program Introduced thisyear to a hordeof grateful students,Get On YourFeet in New York is anotherexampleof aone-of-a-kind student loan repayment benefit being offered on the state level.

  2. Whilelimited in scopedueto thefact that it’s onlyavailable to New Yorkresidents, theprogramoffers up to 24 months offederal student loan debtrelief to recent collegegraduates that live in the state and meetcertaineligibilityrequirements. 5. A NewPresidentofUnited States President Mr. Barack Obama undoubtedlymade major changes to thestudent loan landscapeduring his terms. And with the 2016 presidential election underway, that means it’s time for anew president with newpolicies to enact. Although it’s still uncertain who will ultimatelybevoted into officethis November, almost allthe presidential candidates have shared theirstudent loan reform plan(somemorerobust than others). Among thoseproposed changes include instituting federal student loan refinancing, reducing student loan rates, and even making collegefree. ForFurtherAssistance You Can Contact StudentLoan ExpertfromFloridaMr.BruceMesnekoff Student LoanHelpCenter GeneralManagerBruceMesnekoffjoinsus to Discuss theStudentLoanSituationinAmerica OfficialTwiiter HandleForBruce Mesnekoff