THE PROBLEM 1 SOLUTIONS What do you think the solutions are? 2 - PowerPoint PPT Presentation

THE PROBLEM 1

SOLUTIONS  What do you think the solutions are? 2

PROPOSED SOLUTIONS • Increase need-based federal aid, like Pell Grants, which now cover less than one-third of the cost of attendance at public four-year universities; especially for minority-serving institutions. • Make student loans more affordable, by allowing federal student loans to be refinanced when interest rates decline instead of balancing budgets on the backs of our students. 3

PROPOSED SOLUTIONS  Streamline federal loan repayment plans.  Re-invest state funds in higher education.  Enhance federal loan forgiveness programs and expand them to include faculty and staff at all levels of employment at colleges and universities - including contingents. 4

DEGREES NOT DEBT CAMPAIGN  Educate about the extent of the crisis.  Make it personal & practical: Help our members avoid or lower their own student debt load.  Take action: Advocate for affordable higher education for all AND for state & federal reinvestment in higher education.  Grow stronger IEA /NEA locals.

REDUCE YOUR STUDENT LOAN 6

OUR BASIC MESSAGE TO YOU TONIGHT  FIGHT TO FUND PUBLIC HIGHER EDUCAT ATION! 1. 1. Apply for “Public Service Loan Forgiveness.” 30 hour a week public education employee 2. Apply to reduce your monthly student debt payments. 3. Make qualified payments for ten years (120 payments). THE REST OF THE LOAN IS FORGIVEN 7

STEP 1: THE PLEDGE AND YOU • Digital pledge at http://www.nea.org/degreesnotdebt • Pledge signers get added to our e-list for updates, action. We ask that each of you take the pledge and promote the campaign. Spread the pledge! Put a link on your website! 8

STEP 2: FAFSA PIN https://studentloans.gov 9

STEP 3: PUBLIC SERVICE LOAN FORGIVENESS • Ten years of public service plus 120 qualified payments equals student loan forgiveness. • Applies to full time- public sector educators and ESPs Applies to Federal Direct • Loans • Loans are consolidated and transferred to Federal Loan Servicing Effective Oct. 2007 • • Resubmit your PSLF Certification Form yearly or when you change jobs 10

STEP 4: REDUCE YOUR MONTHLY PAYMENTS WITH INCOME-DRIVEN REPAYMENT PLAN (IDR)  Go to studentloans.gov, using your FAFSA Pin complete the Repayment Plan Request Form  You must be enrolled in one of three IDR plans while enrolled in the PSLF program:  Income Based Repayment (IBR)  Income Contingent Repayment (ICR)  Pay As You Earn (PAYE)  Use the payment estimator calculator to find which plan provides you with the lowest monthly payment to maximize the amount of your loan forgiven after 10 years.  https:/studentloans.gov/mydirectloan/mobile/repayment/rep aymentestimator.action 11

INCOME DRIVEN REPAYMENT PLANS  Never higher than Standard Repayment Plan Amount (which can be 20-25 years in length)  Income Based Repayment (IBR) Plans:  New borrowers starting July 1, 2014 – 10% of discretionary income.  Borrowers before July 1, 2014 – 15% of discretionary income.  DISCRETIONARY INCOME: difference between your income and 150% of poverty guideline for family size and state residence. 12

THE WEBSITES!!! studentloans.gov TO APPLY FOR INFORMATION StudentAid.ed.gov/repay-loans NEA.org/degreesnotdebt 13

STEP 5: SPREAD THE WORD ABOUT DEGREES NOT DEBT BRINGING DEGREES NOT DEBT INTO YOUR LOCAL ON THE GROUND RECEPTION  Help organize a 10 minute meeting in your building  Host a 30-45 minute workshop in your local or building  Gather statistics and stories  New employee outreach  Participate in phonebanking and outreach for future events. 14

QUESTIONS, COMMENTS, REACTIONS  HELP US GATHER THE INFORMATION WE NEED TO EFFECTIVELY SPREAD THE WORD.