IMPORTANT UPDATES

Update on One-Time Cancellation Application & PSLF Limited Waiver

NEW UPDATES FOR ONE-TIME STUDENT LOAN DEBT CANCELLATION:

 On November 11th, 2022 The Department of Education (DOE) announced the One-Time Student Loan Debt Cancellation has been blocked, per a court order.  There is currently no update on when the online applications or process will be lifted. Please note, the DOE has currently closed the online application and is not accepting any new applicants. 

HOW TO COMPLETE ONE-TIME STUDENT LOAN DEBT CANCELLATION APPLICATION: 

(ONLINE APPLICATION IS CLOSED DUE TO COURT ORDER)

Previous update: October 12th, 2022

  1. Go to the Federal Student Aid Dept of Education Website: CLICK HERE TO COMPLETE APPLICATION
    • Reminder you do NOT need documents or FSA login when filling out the form.
  2. Review your Income Qualifications from Jan-Dec 2020 or Jan-Dec 2021 Tax Filing Years.
    • If you filed federal taxes your income requirements are based on your Adjusted Gross Income (AGI). To find your AGI it will be on Line 11 of the IRS 1040 Form.
  3. Fill out your Name, SSN, DOB, Phone Number, and Email.
  4. Electronically Sign by Entering your Name for completion.
  5. You will be directed to a Confirmation Page indicating the application submission was completed. 

On October 12th, 2022 The Department of Education (DOE) previewed an update for the One-Time Student Loan Debt Cancellation Application:

  • The application will be short, simple, and online through the DOE Website.
  • The application will be available between October 2022 through December 31, 2023.
  • No supporting documents will be needed or FSA ID.
  • Federal Student Aid (FSA) will reach out if any additional information is needed once your application is submitted.
  • Click here to preview the Online Application 

One-Time Student Loan Debt Forgiveness Qualifications. The DOE will provide targeted student debt cancellation to borrowers with loans held by the DOE as follows:

  • Up to $10,000 in Loan Forgiveness for those making under $125,000 annual income (for individuals) or under $250,000 in household income. This only applies to borrowers who did not receive a Federal Pell Grant.
  • Up to $20,000 in Loan Forgiveness for those making under $125,000 annual income (for individuals) or under $250,000 in household income. This only applies to borrowers who did receive a Federal Pell Grant

On August 24, 2022, the White House and the Department of Education (DOE) made the following announcements:

CARES Act.   The Federal Student Loan Repayment Pause would be extended from September 1st to December 31st,2022.  Payments are scheduled to resume on January 1st,2023.

New Opportunities to Obtain Public Service Loan Forgiveness (PSLF).  The PSLF Limited Waiver expires on October 31st, 2022. Here is what you need to know.

  • If you are an Existing Client and you took advantage of the PSLF Limited Waiver, please ensure that you have provided MES all your employment certification forms (ECFs). You can check on the status of your ECFs and any other information about your account by logging onto the Client Advocate Portal
  • For New Clients: If you want to take advance of the PSLF Limited Waiver, you have until October 31, 2022 to apply.

IF YOU HAVE ANY QUESTIONS ABOUT PSLF OR ANY OF THE ANNOUNCEMENTS MADE BY THE WHITE HOUSE OR THE DEPARTMENT OF EDUCATION. PLEASE CONTACT MES AT 210-812-3200 or EMAIL CustomerCare@MyEduSolutions.com

LINKS TO THE ANNOUNCEMENTS CAN BE FOUND HERE:

White House Announcement: https://bit.ly/3R7lfhX

Department of Education Announcement:  https://bit.ly/3ThtglL

Additional Resource Links: The Biden-Harris Administration’s Student Debt Relief Plan Explained

IMPORTANT REMINDER:

As the Department of Education continues to provide updates in writing and other information on how the new loan forgiveness will be administered, MES will communicate this information to our Clients. Please refer to the Client Advocate Portal (CAP) for specific information on how the forgiveness program affects your individual program. Please continue to check back on our website for additional announcements, including how the new PSLF programs will be administered and how to apply for your targeted debt cancellation. MES will notify you in writing that your debt is forgiven once we have the government documentation and close out your account at that time.

THE MES CAP allows you to access the following:

  • Updated information (Lots of changes to share exclusively with MES Clients)
  • Your January 1st, 2023 Payment Amount
  • Your New Servicer*
  • Full History of Payments
  • Full History of ECF (10-Year Forgiveness Client Programs Only)
  • Number of Payments Made
  • Review and sign off on your CAP (Client Advocate Portal) as part of your renewal process for 2022 to ensure that all the information is accurate before submitting your Renewal documents.

Click here for a virtual tour with our Customer Care Team to begin using our CAP (Client Advocate Portal) and access your payment portal 24/7 from your computer or mobile phone!

New Servicers Transfers:
Most of  FedLoan/ Granite Clients have been moved to new loan servicers.  Your CAP will reflect which payments have been made to your previous servicer and which payments will be made to the new servicer so that you will know which one was accessed.

New Billing Options and Flexible Payment Schedules:
All MES Clients will continue to be billed on the 1st for their monthly payment.  Please speak with a Customer Care representative to participate in pre-payment of programs up to 12 months and alternative payment methods for those that NSF.  If MES drafts your full 12-month payment upfront then we will hold it in escrow and pay it month by month as it is due.

New Building Hours!
Please come visit us if you would like to meet face to face about all these changes. Please note our staff is working remotely Mondays and Fridays and are in the office Tuesday through Thursday.

Location: 2700 Lockhill Selma, San Antonio, TX 78230

Please come visit us for a confidential consultation, to drop off documents, or for our Client Appreciation gatherings which we hold several times a year.  Our website calendar lists upcoming events for the year

MES is a private company and is not affiliated with the U.S. Department of Education, and is not affiliated with any federal, state, or local government agencies or any authorized federal government contracted student loan servicers.

 

Updated 11/16/2022