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

1

THE PROBLEM

What do you think the solutions are?

2

SOLUTIONS

3

PROPOSED SOLUTIONS

• Increase need-based federal

aid, like Pell Grants, which now cover less than one-third

• f 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.

• 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

PROPOSED SOLUTIONS

• 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.

DEGREES NOT DEBT CAMPAIGN

6

REDUCE YOUR STUDENT LOAN

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

OUR BASIC MESSAGE TO YOU TONIGHT

8

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!

9

STEP 2: FAFSA PIN

https://studentloans.gov

10

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

• r when you change jobs

 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

STEP 4: REDUCE YOUR MONTHLY PAYMENTS WITH INCOME-DRIVEN REPAYMENT PLAN (IDR)

 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

INCOME DRIVEN REPAYMENT PLANS

studentloans.gov

TO APPLY FOR INFORMATION

StudentAid.ed.gov/repay-loans NEA.org/degreesnotdebt

13

THE WEBSITES!!!

 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

STEP 5: SPREAD THE WORD ABOUT DEGREES NOT DEBT

BRINGING DEGREES NOT DEBT INTO YOUR LOCAL ON THE GROUND RECEPTION

HELP US GATHER THE INFORMATION WE NEED TO EFFECTIVELY SPREAD THE WORD.

QUESTIONS, COMMENTS, REACTIONS