If you’re one of the more than 1.8 million Ohioians currently carrying some federal student loan debt, you may want to clear some time tomorrow.
Both Cleveland and federal officials are coming together at noon to talk about current federal student loan repayment options and loan forgiveness.
The online event is open to individuals and employees of groups such as College Now Greater Cleveland and the Cuyahoga County Department of Consumer Affairs, which advise local residents on their repayment options.
Register for the Zoom webinar by clicking here.
Cordray connection
The Federal Student Aid office within the U.S. Department of Education is hosting the event. That office is headed by former Ohio Attorney General (and five-time “Jeopardy!” champion) Richard Cordray.
Cleveland Mayor Justin Bibb and Ward 12 Council Member Rebecca Maurer will be joining Cordray on the call.
One of the things the group will discuss is the recently introduced SAVE plan, which federal officials are billing as the “most affordable income-driven repayment plan ever.”
This plan lowers monthly payments for “almost all people” over other current repayment plans, officials said. That’s because payments are based on smaller chunks of borrowers’ monthly adjusted gross income, per the Federal Student Aid’s website.
Last month, the Biden administration noted more than half of the 7 million Americans currently enrolled in SAVE pay $0 a month.
FAFSA fiasco
The Federal Student Aid office also oversees things related to the FAFSA. That’s the federal form that can help students and families get money to assist in paying for college.
The FAFSA recently underwent a major update, and as Signal Cleveland previously reported, the rollout continues to be rocky.
It’s important to note, though, that it’s not too late to complete the FAFSA for the upcoming academic year. The deadline to be eligible to potentially receive state aid in Ohio is Oct. 1.
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