DAY WAS COMING IN.

FEDERAL STUDENT LOAN PAYMENTS HAVE RESUMED FOR THE FIRST TIME IN 3 YEARS.

THIS AFTER A PANDEMIC-RELATED PAUSE, MANY WERE HOPEFUL FOR PRESIDENT JOE BIDEN'S 400 BILLION DOLLAR LOAN FORGIVENESS PLAN.

BUT A DIVIDED SUPREME COURT BLOCKED THOSE EFFORTS ARGUING THE ADMINISTRATION NEEDED CONGRESS ENDORSEMENT BEFORE UNDERTAKING THE COSTLY PROGRAM.

MORE THAN 1 MILLION BORROWERS IN ILLINOIS ARE NOW NAVIGATING STUDENT ADMIT HIGH INFLATION.

JOINING US NOW WITH MORE ON THE LOCAL IMPACT, OUR STILL IT WAS JUST 2020 GRADUATE OF NATIONAL LOUIS UNIVERSITY.

SHE'S NOW A PROGRAM SUPPORT AND LOGISTICS COORDINATOR AT THE GROUP WILL KAGAN TO COLLEGE TARA DIA SUCCESS PROGRAM BOTTOM LINE, CHICAGO AND JONATHAN LOPEZ, A LINCOLNWOOD REAL ESTATE AGENT WITH CENTURY.

21 CIRCLES NOT.

THANK YOU ALL FOR JOINING US TODAY.

>> THERE'S A LOT TO TALK ABOUT I WANT TO START WITH WHAT HAS YOUR EXPERIENCE AND EXPERIENCE BEEN LIKE WITH STUDENT LOANS?

POST COLLEGE?

>> IT'S ALWAYS IT'S JUST IT'S HARD TRYING TO GET BACK INTO THE WORLD.

I'M NOT WANTING TO PURSUE BIN THINGS GO BACK TO SCHOOL TO GET AND HOW I STRUGGLED DOING 3 JOBS.

GO TO SCHOOL FULL TIME AND NOT WANTING TO CONTINUE TO DO THAT.

SO WE PAY OFF MY LOANS AND TO WANTING TO LIVE OF A PARK TO GET BACK TO PARENTS LIVE A NORMAL SO IT'S IT'S A STRUGGLE, BUT IT'S SOMETHING THAT IT'S COMING YOU.

SUE, EVEN THOUGH IT TO ME LIKE BUT IT'S.

IT'S JUST A LEARNING EXPERIENCE FOR SURE, BECAUSE THAT NOW IS IN BACK OF YOUR MIND.

NOW, HOW DOES THAT HOW DOES YOUR DEBT AFFECT YOUR ABILITY TO MAKE BIG PURCHASES?

>> HARD.

I KNOW I GOT LUCKY ENOUGH TO BE ABLE TO PURCHASE A CAR EARLIER IN THE PANDEMIC.

>> BUT WOULD NOT.

I WANT TO GET BACK TO MY PANTS AND HELP THEM OUT IN THEIR OWN.

BUT THEIR OWN COULDN'T STOP ME IN THAT ASPECT.

EITHER HAVE TO PUT THEM FIRST HAVE TO MUCH ATTENTION.

FIRST AND I HAVE STOP AND WANTING TO PURSUE MY EDUCATION CARE BECAUSE I DO WANT TO GET BACK TO MY PARENTS FIRST.

SO I DO.

THAT'S KIND OF THE HARDSHIPS OF BUT I'VE HAD LEARNING COPE WITH BUT THAT'S THAT'S SOMETHING THAT'S ALWAYS BEEN IN THE BACK OF MY HEAD.

TOO.

>> PERSON STRUGGLING HAVING TO BALANCE THE AVERAGE STUDENT LOAN DEBT FOR ILLINOIS SAYS NEARLY $38,000 ALMOST 55% OF THE MORE 1 MILLION BORROWERS IN ILLINOIS UNDER THE AGE OF 25 TIER.

WANT TO GO TO YOU, YOUR ORGANIZATION, HELP STUDENTS NAVIGATE FINANCIAL AID.

WHAT CONCERNS DO YOU HEAR FROM STUDENTS APPLYING TO COLLEGE?

SO I THINK THAT PUBLIC LOANS HAVE BECOME A BIG TOPIC OF CONVERSATION AND A TOPIC THAT IS REACHING STUDENTS EARLY IN HIGH SCHOOL AND EVEN YOUNGER THAN THAT.

>> AND THE CONVERSATIONS ARE A LITTLE OVERWHELMING AND POTENTIALLY SCARY NOT ONLY FOR STUDENTS BUT ALSO FOR THEIR FAMILIES.

HEARING STORIES ABOUT THE AMOUNT OF DEBT THAT'S ACCRUED.

IT CAN REALLY MAKE COLLEGE SEEM LIKE A.

LIKE LIKE NOT AN OPTION, NOT A FEASIBLE OPTION.

BUT UNFORTUNATELY, STUDENT LOANS ARE.

THE PATHWAY FOR MANY STUDENTS TO BE ABLE TO ACCESS A COLLEGE EDUCATION.

AND SO I DO THINK THAT WITH THE TOPIC OF STUDENT LOANS PAYING SO AS POPULAR AS IT IS NOW, IT'S REALLY IMPACTING DECISION MAKING WITHIN FAMILIES WHERE YOUNG STUDENTS AND PARENTS HAVE TO HAVE CONVERSATIONS ABOUT WHETHER OR NOT IT'S FEASIBLE.

AND ALSO CONVERSATIONS LONG-TERM ABOUT THINGS SUCH AS WHAT THEY SHOULD STUDY IN SCHOOL.

WHAT KIND OF CAREERS THEY SHOULD PURSUE, WHAT KIND OF OUTLOOK THAT CLEAR HAS AND ESSENTIALLY THE RETURN ON INVESTMENT TO REALLY SEE IF IT'S WORTHWHILE.

AND THAT'S ABOUT I'M DOES.

YES, WORK WITH STUDENTS AND FAMILIES AS WELL TO TRY TO GUIDE HIM TO THAT PROCESS.

>> AND JONATHAN, STUDENT LOANS COULD BE A MAJOR ROADBLOCK WHEN PURSUING OTHER FINANCIAL GOALS.

LANG BROUGHT BUYING PROPERTY.

HOW SHOULD SOMEONE WITH STUDENT LOANS DETERMINE IF THEY SHOULD BUY A HOME OR NOT?

>> SHARING SO, YOU KNOW, STUDENT LOANS, IMPORTANT TO KNOW AND UNDERSTAND THAT IS DEFINITELY POSSIBLE TO STILL BUY HOME, BUY A PROPERTY, A BUILDING WHENEVER THEY, YOU KNOW, YOU KNOW, WHEN THE WAY STUDENT LOANS YOU KNOW, I'VE ASKED ALL AROUND ONE TO PULL AND THERE'S ME AS A REALTOR MY $0.02 AND THAT IS THAT IN ORDER TO TO BUY A STUDENT LOANS.

WHEN THE PEN OBVIOUSLY ON, HOW MUCH WILL YOU HAVE THE MORE THE HIGHER THE LOAN, THE HIGHER THAT THAT THE HOTTER IT IS GOING TO BE TO BUY A HOUSE.

BUT ESSENTIALLY IT IS DEFINITELY POSSIBLE WHEN YOU BUY A HOUSE RENTED BY HOUSE FROM FREDDIE MAC IN 8 FROM FANNIE MAE AND FOR EXAMPLE, FANNIE ONE PERCENT OF THE STUDENT THAT MEANING THAT IF LOAN $30,000 IN STUDENT THAT THEN THAT MEANS THAT ONE PERCENT OF THAT WILL BE $200 200, TO GO INTO EFFECT ON YOUR MONEY MORTGAGE SAY THE BANK QUALIFIES YOU FOR 2009 AND MORTGAGE WILL BE 2000 -300.

SO NOW YOU ONLY QUALIFY FOR 1700 DODGERS.

SO OBVIOUSLY THE HIGHER THAT THAT THE HIGHER IT IS TO BUY A HOME.

BUT IT'S DEFINITELY PASS.

BUT IT'S POSSIBLE YOU'VE SEEN AND HAVE YOU SEEN IT WORKING WITH SOME CLIMBED 100%.

I SEEN IT.

YOU KNOW, A LOT I CAN TELL YOU KNOW, THEY HAVE ALONGSIDE FASTER THAN THOSE IN THE PAST MYSELF.

I WAS ABLE TO BUY A HOUSE SO 100%, BUT IT'S DEFINITELY POSSIBLE THIS MANY PROGRAMS OUT THERE THAT CAN THEY CAN HELP OUT WITH THIS.

BUT YEAH, DEFINITELY.

I MEAN, THERE'S YOU KNOW, SOME SOME TIPS THAT WAS SUGGESTED TO US OUT HERE THAT ONE OF MY HOME HAVE STUDENT LOANS IS, YOU DON'T YOURSELF, AM I IN A, YOU KNOW, A BIG CAR PAYMENT IN ORDER TO BE ABLE TO A HOME.

THEY OFFER CREDIT CARDS, YOU KNOW, STUFF LIKE THAT IN ORDER TO BE ABLE IN THE NEAR FUTURE, BE ABLE TO BUY A HOME.

I WAS PANTRY THAT DIFFERENT ASPECTS TO THINK ABOUT JUST HOW YOU TALKED ABOUT ABOUT BUYING A CAR DURING.

>> COVID BECAUSE THE PAYMENTS YOUR LOAN PAYMENTS STOPPED WHEN YOU START EXPLORING COLLEGE, DID YOU UNDERSTAND WHAT YOU ARE UNDERTAKING IN TERMS OF YOUR LOAN I DID AND >> I ACTUALLY WISH I HAD THE SO I WOULD LOOK COLLEGE AND I WISH I TO SUPPORT ME SURE YOU DO THE GREAT YOU'RE DOING THE THINGS TO LOOK AT SCHOOL.

SO, YOU KNOW, FIT ME BETTER FINANCIALLY.

GOES BETTER, HOW TO FIND SCHOLARSHIPS.

I DIDN'T REALLY HAVE THAT SUPPORT THERE.

MY SISTER WHO SOLD SO SHE WAS SO I DIDN'T REALLY HAVE TO NAVIGATE ON FINDING WHAT WAS BEST FIT FINANCIALLY FOR ME.

AND UNFORTUNATELY, ALTHOUGH THERE WAS ONE THAT WAS HELPFUL, FINANCIAL NATIONALISTS THERE'S A THERE ARE ALSO OTHER OPTIONS, BUT I WAS NOT AWARE OF THEM.

SO I KIND OF BUT THE BEST SOME.

FORTUNATELY, I DO WISH I HAD MORE OF THAT SUPPORT.

BUT AND CAN HELP OTHER, OF COURSE, JUST AND RESEARCHERS ALSO JUST SUGGESTED THAT BLINKEN, A LOAN FORGIVENESS IS LESS EFFECTIVE WHEN IT COMES TO HELPING THOSE WHO NEED IT MOST, MEANING IT HELPS HIGHER INCOME BORROWERS MORE THAN LOWER-INCOME ONES.

>> TIER DO FIND THAT TO BE TRUE.

I THINK THAT THAT REALLY THE SITUATION.

I THINK ONE THING THAT OUR ORGANIZATION REALLY AIMS TO DO IS JUST >> ENSURE THAT STUDENTS FULLY UNDERSTAND WHAT THEIR OPTIONS ARE UPON GRADUATION WHEN IT COMES TO FINDING THE RIGHT REPAYMENT AND THAT ALSO EXPLORING DIFFERENT LOAN FORGIVENESS PROGRAM.

SO NOT SUPPORTING SINCE WHILE THEY'RE IN COLLEGE A YEAR TO YEAR TO MINIMIZE THE LOAN DEBT THAT THEY'RE ACCRUING AS AS THEY ARE CONTINUING IN SCHOOL.

BUT ALSO BEING ABLE TO ACCESS THE PROGRAMS THAT ARE GOOD FIT FOR THEM.

THERE ARE A LOT OF REALLY GREAT PROGRAMS OUT THERE BUT UNFORTUNATELY, IT'S DIFFICULT FOR FOLKS TO LEARN HOW TO ACCESS THAT.

AND SOMETIMES THE PROCESS IS FOR THOSE PROGRAMS CAN BE REALLY DIFFICULT TO NAVIGATE.

AND SO OUR ROLE IS REALLY JUST ENSURING THAT STUDENTS ARE ABLE TO TAKE ADVANTAGE OF THOSE OPPORTUNITIES.

WHAT ARE SOME OF THE REACTIONS FROM STUDENTS WHEN THEY GET SET TO 2, MAYBE THE COLLEGE OF THEIR DREAM?

I LIKE, YES, I I CAN MAKE IT OR I CAN.

YOU KNOW, I AM GONNA BE ABLE TO DO IT.

SO OUR STUDENTS ARE INCREDIBLY EXCITED ABOUT THIS.

THIS NEXT STEP AND A LOT OF THEM HAVE AMBITIOUS STREAMS ABOUT CAREERS THAT THEY WISH TO PURSUE DREAM AND WITH OUR ORGANIZATION TAKING A STRONG STANCE ON AFFORDABILITY, WE KNOW THAT FINANCING YOUR EDUCATION IS A BIG PART OF THAT PUZZLE.

AND SOMETIMES IT LEADS TO CONVERSATIONS OFTEN TIMES DIFFICULT CONVERSATIONS ABOUT WHETHER OR NOT THAT DREAM SCHOOL IS THE RIGHT FIT AND SOMETIMES IT'S A CONVERSATION ABOUT WHERE WE MIGHT NEED TO MAKE COMPROMISES IN TERMS OF WHERE WERE ATTENDING OR WHAT WE'RE STUDYING.

AND OUR ROLE IS REALLY JUST TO ENSURE THAT STUDENTS UNDERSTAND THE FINANCIAL COMPONENT TO THEIR COLLEGE CHOICE CAN SEE THE IMPACT THAT THAT IS GOING TO HAVE ON THEIR THEIR LIFE IN THEIR FINANCIAL HEALTH UPON GRADUATION AND JOHNSON, I WANT TO GO TO DID MENTION THAT YOU HAVE OR HAVE HAD STUDENT LOANS.

WHAT ADVICE YOU YOU MENTION SOME OF THE TIPS.

>> WHAT ADVICE AT THIS POINT WITH SOMEONE WHO HAS A LARGE AMOUNT OF LOANS, WHAT IT'S THE FIRST.

WHAT'S THE FIRST STEP FOR THE ADVICE?

DO YOU GIVE THEM TO ONE OF YOUR CLIENTS?

DEFINITELY DEFINITE I WOULD SAY FOR FOR MOST, YOU KNOW, YOUR ACCOUNT IN A LENDER TO BE ABLE TO GUIDE YOU AND FIND A STRATEGIC PLAN.

>> ORDER YOU KNOW THAT YOUR SAVINGS TOGETHER, YOU GET TAXES AND TOGETHER IN ORDER TO BUY A HOUSE.

>> YOU KNOW THAT.

YOU KNOW THAT.

THE ONE THING TO NOTE, TOO, IS THAT, YOU KNOW, ONCE THAT FRONT OF US OUT HERE HAS HAVE STUDENT LOANS AND MAYBE THAT WHEN IT'S COOL STUFF IS IMPORTANT TO KNOW THAT ON THE MEND.

THIS ASKED FOR IS TWO-YEAR JOB HISTORY.

AND IF YOU JUST GRADUATED TODAY, YOU WANT TO GO OUT FOR A JOB TOMORROW.

BUT YOU'VE BEEN IN SCHOOL.

IMPORTANT TO KNOW THAT IT'S ALWAYS HAVE TO TRANSCRIPTS.

YOU'LL BE ABLE TO, YOU KNOW, BE ABLE TO TO GET A LOAN.

SO I THINK THAT IT'S POSSIBLE.

YEAH, POSSIBLE.