California Educator

February / March 2019

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documented. Documentation is important when you ask such questions as "If I do what you are recommending, am I eligible for a Stafford loan forgiveness program? And if not, what should I do?" ese programs have varying eligibility requirements, and the rules, paperwork and documentation can be confusing. Fortunately, NEA Member Benefits (NEAMB) will soon unveil a solution to help you navigate through them; it will pull your data together, make projections about what forgiveness program is best for you, and facilitate the processing of paperwork. "You'll learn if a Public Service Loan Forgiveness Pro- gram is worth it," Mabey says. "NEAMB heard members' requests for assistance and advice through this process," Mabey says. "We want to help make it smoother and easier to understand." Be sure to read the next issue of the Educator about the launch of the new NEAMB program. Resources • Federal Student Aid, U.S. Department of Education, • Federal Student Aid Information Center for questions about eligible loans or more information about your loan, or 800-433-3243. • National Student Loan Data System (to find out more about your loan, locate your paperwork, etc.), • CTA Member Benefits website for federal stu- dent loan debt information and resources, • NEA video on Public Service Loan For- giveness and Income Driven Repayment, Should I consolidate my loans? This is one of the most-asked questions, and one you should consider carefully. Know that you may jeopardize your ability to apply for loan forgiveness programs if you consolidate, and you are not eligible for deferment or forbearance. Consolidation is a one-time deal, unlike, say, a mortgage where you can refinance. The advantages are that you may qualify for a lower fixed interest rate or lock in a rate instead of being subject to annual rate changes. B U Y I N G O R R E F I N A N C I N G a home is a team effort, and Provident Credit Union can help. Its well-trained, highly experienced mortgage consultants can assist CTA members in getting the financing you need to purchase or refinance the home you want as quickly and painlessly as possible. Provident offers CTA members an exclusive 0.125 percent discount on mortgage loans — saving thousands over the life of the loans. It also provides informative on-site home-buying seminars and online webinars, and with its 19 branches and over 900 credit union shared branches, it can compete with the big guys while remaining agile enough to be truly responsive. To learn more, go to I N T E R E S T E D I N S O M E advice on financial wellness? Visit the CTA Financial Wellness Center at You' ll find key financial topics that can help you get the most out of your money and achieve your financial goals, including helpful videos, calculators, and other resources. Topics include: • e Academy: Information and tools to help sort out your finances. • e Buzz: Financial news and must-reads. • e Plan: CTA's Retirement Savings Plan for members. • Jargon: Decoding financial terms so you can make the best decisions. • Tools: Simple tools to help you crunch the numbers. You'll also find answers to some common member ques- tions, and of course contact information so you can ask us your own questions. Financial Wellness Let CTA help you get financially fit and informed 61 F E B R U A R Y / M A R C H 2 019 C B U Y I N G A H O M E ?

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