5 Questions for Barbie Shaffer,
Columbia-Greene Community College Faculty Association
1. Like many members,
you’ve had a challenging
time navigating the
student loan system. Tell us about
your experience.
As a first-generation college
student, I remember being so excited
when I had been accepted to the
college I’d hope to attend and was
told by a member of the financial
aid team that, with my scholarship
and loans, I would be able to make
my tuition. I had no idea at the time,
however, how much I would end up
owing years later. When I did enter
repayment and saw the total and
expected monthly payments, with all
of the interest that had accrued over
the years, my heart nearly stopped.
Why had I not been better informed?
2. They certainly don’t
make it easy. The
Public Service Loan
Forgiveness program has been
under fire because it has rejected
more than 98 percent of
borrowers who have applied for
the benefit. You signed up for
NYSUT’s student loan debtworkshop. How did it help?
As someone who was aware of
the appalling rate of rejection for
PSLF, I came into the workshop
worried that I would be told I made
an error and I was unable to qualify
for forgiveness. What I left with was
a tremendous sense of relief! The
workshop facilitators explained the
requirements that needed to be met
for a successful PSLF application. I
was so happy to learn that I was on
track for forgiveness.
3. What about follow-up?
After the workshop, I
scheduled an individual
counseling session with a member of
the Cambridge team. The counselor,
Todd Friedhaber, contacted me in
less than 24 hours and provided me
with a personalized Student Debt
Solutions Action Plan. He also was
able to confirm that I am on track to
apply for PSLF. Even better, he advised
me to switch repayment plans
and I am now saving nearly $300 a
month!
4. So you’re now on track
for the PSLF program. How will this improve
your financial outlook?
Thanks to NYSUT’s student debt
workshop and the follow-up counseling
session, I am certain that my
PSLF application will be successful.
Further, simply by taking advantage
of the services provided to us
as members of NYSUT, I am saving
thousands of dollars each year having
switched repayment plans. If that
is not an incentive for participating in
this program, I don’t know what is.
5. Many people don’t
realize higher education
faculty and staff
like yourself qualify for PSLF. What
advice do you give them about
PSLF and this union benefit?
I have gained so much from
participating in this program. Not
only am I in a better place financially,
I’m also now confident that, after I
make my last 20 payments, I will have
a successful PSLF application. Just
having that piece of mind is a tremendous
gift. I would recommend that all
NYSUT members take advantage of
this union benefit!