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<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">Students,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">The below information is sent on behalf of “Student Loan Professor”, our CUSOM Financial Literacy partner.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">For MS-1 and MS-2 students, you may ask Mr. Brandon Barfield (Student Loan Professor) or our Campbell Financial Aid Staff questions at Orientation next week.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">Thank you.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">Blessings,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"> <o:p></o:p></span></p>
<p class="MsoNormal"><i><span style="font-size:20.0pt;font-family:"Monotype Corsiva"">Debi</span></i><span style="font-family:"Calibri",sans-serif"><o:p></o:p></span></p>
<p class="MsoNormal"><b><span style="font-family:"Calibri",sans-serif"> </span></b><span style="font-family:"Calibri",sans-serif"><o:p></o:p></span></p>
<p class="MsoNormal"><b><span style="font-family:"Calibri",sans-serif;color:black">Debi Pipes</span></b><span style="font-family:"Calibri",sans-serif"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif;color:black">Director of Student Affairs</span><span style="font-family:"Calibri",sans-serif"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif;color:black">School of Osteopathic Medicine | Campbell University</span><span style="font-family:"Calibri",sans-serif"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif;color:black">Post Office Box 4280 | Buies Creek, North Carolina 27506</span><span style="font-family:"Calibri",sans-serif"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif;color:black">Levine Hall Office #115 | 910-893-1784 | </span><span style="font-family:"Calibri",sans-serif"><a href="http://medicine.campbell.edu/" target="_blank"><span style="color:#1F497D">medicine.campbell.edu</span></a><o:p></o:p></span></p>
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<p class="MsoNormal"><a href="http://medicine.campbell.edu/" target="_blank"><span style="font-family:"Calibri",sans-serif;color:black;text-decoration:none"><img border="0" width="509" height="53" style="width:5.302in;height:.552in" id="x_gmail-m_7010912524512559881Picture_x0020_1" src="cid:image001.png@01DADDDB.04137010"></span></a><span style="font-family:"Calibri",sans-serif"><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif;color:black">CONFIDENTIALITY NOTICE: This e-mail, including any attachments, is intended for the sole use of the addressee(s) and may contain legally privileged and/or confidential information.
If you are not the intended recipient, you are hereby notified that any use, dissemination, copying or retention of this e-mail or the information contained herein is strictly prohibited. If you have received this e-mail in error, please immediately notify
the sender by telephone or reply by e-mail, and permanently delete this e-mail from your computer system. There is no intent on the part of the sender to waive any privilege, including the attorney-client privilege, that may attach to this communication.
Thank you. IF YOU HAVE RECEIVED THIS IN ERROR, PLEASE CALL ME IMMEDIATELY AT 910-893-1784.</span><span style="font-family:"Calibri",sans-serif"><o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> Cynthia McGallagher <cynthia@studentloanprofessor.com>
<br>
<b>Sent:</b> Wednesday, July 24, 2024 2:02 PM<br>
<b>To:</b> Brandon Barfield <brandon@studentloanprofessor.com><br>
<b>Subject:</b> EXTERNAL EMAIL: Subject: What the SAVE Plan Lawsuit Means for Borrowers<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal" style="background:#FFEB9C"><span style="color:black">CAUTION: This email originated from outside of Campbell University. Do not click links or open attachments unless you recognize the sender and know the content is safe.</span><o:p></o:p></p>
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<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Arial",sans-serif">F<span style="color:black">or ongoing coverage</span> of this topic, please see<span style="color:black">:<o:p></o:p></span></span></p>
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<p class="MsoNormal"><u><span style="font-family:"Arial",sans-serif;color:blue"><a href="https://www.studentloanprofessor.com/18-states-sue-to-block-the-save-plan/" target="_blank">https://www.studentloanprofessor.com/18-states-sue-to-block-the-save-plan/</a></span></u><span style="font-family:"Arial",sans-serif;color:blue"><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black"> <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black"> ____________________________________________________________________________________________<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black"> <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif">Students,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black">By now you’ve likely seen the headlines about the SAVE plan being completely blocked. Specifically, the 8th Circuit Court of Appeals issued a stay preventing the Department of Education
from operating the plan.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black"> <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black">To recap, a preliminary version of the SAVE plan was rolled out in July of 2023, with the “final rule” going into effect July 1st of 2024. Previous decisions stemming from the two
ongoing SAVE plan lawsuits targeted certain elements of this final version but did not disrupt the current payment processes for those already on the plan or those pursuing Public Service Loan Forgiveness.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black"> <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black">This decision, however, is different. It blocks the entire SAVE plan, both old and new features. The Department of Education had no other option but to immediately put all 8 million
SAVE participants into an administrative forbearance. No interest will accrue during this time, which is good. Unlike previous forbearances, however,
<b>this pause does NOT count towards PSLF forgiveness or IDR forgiveness</b>.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black"> <o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-family:"Arial",sans-serif;color:black">So, what action should you take?</span></b><span style="font-family:"Arial",sans-serif;color:black"> <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black"> <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black">If you’re not enrolled in the SAVE plan, you are not impacted by this new development. Keep making your regular payments. <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black"> <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black">But for those utilizing the SAVE plan (or planning to) we highly recommend holding fast for the time being. A request has already been submitted to the Supreme Court, asking them
to rule on the other SAVE lawsuit. And it’s likely the Department of Education will ask SCOTUS for an emergency injunction for this one as well. SCOTUS could rule on this at any time, so this situation may be very different just a few days from now. Aside
from that preliminary action, it could take months for these two lawsuits to work their way through the court system. If SCOTUS does not allow SAVE to go back into operation during the litigation period, it’s hard to believe the Department of Education would
allow borrowers to potentially miss out on months of forgiveness credit. We suspect they will come up with a temporary solution, such as reinstating a prior payment program like REPAYE. Either way, big news is still to come from both the courts and the Department
of Education. Until it does, hold fast.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black"> <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black">In the meanwhile, the Department of Education has taken all consolidation and payment plan applications offline. And as of 7/23/24, they are still offline.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black"> <o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-family:"Arial",sans-serif;color:black">A special note for those who had consolidation or SAVE applications in progress:
</span></b><span style="font-family:"Arial",sans-serif;color:black">consolidated loans are typically put into a level payment plan when they first come out of processing, with the IDR/SAVE portion of the application processed a few days later. If you were not
fully enrolled in the SAVE plan as of July 18th, pay close attention to your account and servicer communications. They may leave you on the level plan, put you on a different plan, or put your loans into forbearance. Depending on your circumstances, you may
need to call and request a forbearance. Keep in mind you may accrue interest during this forbearance if your account was not technically included with the SAVE lawsuit forbearance.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black"> <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black">We’re paying close attention to these lawsuits as they develop, so follow our
</span><u><span style="font-family:"Arial",sans-serif;color:#467886"><a href="https://www.studentloanprofessor.com/18-states-sue-to-block-the-save-plan/" target="_blank"><span style="color:#467886">dedicated blog</span></a></span></u><span style="font-family:"Arial",sans-serif;color:black"> to
stay informed. Also, make sure to follow us on social media for real-time updates.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black"> <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black">And if you need assistance understanding how this impacts your student loan debt, consider signing up for a
</span><u><span style="font-family:"Arial",sans-serif;color:#467886"><a href="https://www.studentloanprofessor.com/services/consultations/" target="_blank"><span style="color:#467886">comprehensive student loan consultation</span></a></span></u><span style="font-family:"Arial",sans-serif;color:black">.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black"><o:p> </o:p></span></p>
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<p style="background:white"><span style="font-family:"inherit",serif;color:black">Thank you,</span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><o:p></o:p></span></p>
<p style="background:white"><span style="font-family:"inherit",serif;color:black"> </span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><o:p></o:p></span></p>
<p style="background:white"><span style="font-family:"inherit",serif;color:black">Cynthia McGallagher</span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><o:p></o:p></span></p>
<p style="background:white"><span style="font-family:"inherit",serif;color:black">Operations Manager</span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><o:p></o:p></span></p>
<p style="background:white"><span style="font-family:"inherit",serif;color:#F3901D"><b>Student Loan Professor</b></span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><o:p></o:p></span></p>
<p style="background:white"><b><span style="font-family:"inherit",serif;color:#F3901D">(formerly Doctors Without Quarters)</span></b><span style="font-family:"inherit",serif;color:black"></span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><o:p></o:p></span></p>
<p style="background:white"><span style="font-family:"inherit",serif;color:black"> </span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><o:p></o:p></span></p>
<p style="background:white"><span style="font-family:"inherit",serif;color:black">Phone: (470) 358-4026</span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><o:p></o:p></span></p>
<p style="background:white"><span style="font-family:"inherit",serif;color:black"><a href="mailto:cynthia@studentloanprofessor.com">cynthia@studentloanprofessor.com</a></span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><o:p></o:p></span></p>
<p style="background:white"><span style="font-family:"inherit",serif;color:black"><a href="http://www.studentloanprofessor.com/">www.StudentLoanProfessor.com</a></span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><o:p></o:p></span></p>
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