Student Loan Planner

Will Trump Abolish the Department of Education? Nov 19, 2024

It’s an unlikely scenario, but the possibility of President Trump abolishing the Department of Education in his second term is a hot topic that’s sparked questions and concerns among student loan borrowers. We’ll explore what that might mean, unpack the fears and anxieties expressed by our listeners, and provide context around the policy implications. Plus, stick around for our “listener mailbag,” where we tackle specific questions and worries that have been pouring into our inboxes.

Key moments:

04:31 Republicans' plan is not actually to eliminate the Department of Ed 10:21 How to handle income recertification for IDR plans during job gaps 16:04 Will the discontinued PAYE plan return amid changes? 22:37 Timing actions around the 0% interest period for student loans

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From Coal to Cash: 15 Smart Moves Before the Year Ends Nov 15, 2024

Ready to turn up the heat on your finances before 2024 comes to a close? We’ve packed this episode with 15 savvy, high-impact financial moves to help you finish the year on top. From maxing out retirement contributions and exploring tax loss harvesting to utilizing backdoor Roth strategies and refinancing high-interest debt, we’re covering it all. We’ll also discuss year-end must-dos like reviewing your insurance, managing FSA funds, and checking your credit report. Tune in to make the most of the final stretch of 2024 and set yourself up for a strong start in 2025.

Key moments:

04:05 Tax-loss harvesting and backdoor Roth IRA can help trim your tax liability 09:47 A personal story on listing income sources to stay in the clear with the IRS 13:40 With interest rates coming down, now might be the perfect time to refinance student loans or your mortgage 17:42 Important tips on updating insurance coverages and taking advantage of open enrollment benefits

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The Next 4 Years of Student Loans: Major Changes Are Coming Nov 12, 2024

With Trump’s unexpected victory in the popular vote and key swing states, and a likely Republican majority in Congress, significant changes to student loan policies may be on the horizon. We’ll look at possible shifts in Public Service Loan Forgiveness (PSLF) that could make it harder to qualify, and the potential elimination of the Saving on a Valuable Education (SAVE) plan. We’ll discuss recent court rulings that could reshape repayment strategies, like the 8th Circuit Court decision on the Income-Contingent Repayment (ICR) statute. We'll also touch on political dynamics influencing these changes, including Republican and Democratic strategies, the implications of past proposals like the Prosper Act, and what borrowers need to consider moving forward.

Key moments:

04:18 Likely elimination of the SAVE plan — when should you consider switching to a different repayment option? 08:27 Republicans are making their own IDR plan and how past proposals threatened borrowers 18:42 Loan forgiveness potential might be more generous than we think 24:22 Potential for major policy changes under Trump’s second term

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Filing Taxes Separately Would Cost Me $12,000 Nov 08, 2024

Could your tax filing status save you thousands on student loan payments? You're about to find out. We’re discussing how choosing to file jointly or separately can impact your student loan repayment strategy. You’ll hear about real-world scenarios, from high-income couples evaluating their tax implications to the strategic benefits of filing separately in community property states. Plus, we’ll explore how recent legislative scrutiny on loan repayment plans could affect your financial planning.

From navigating recertification dates to leveraging tax extensions, you'll gain practical insights that could reshape the way you manage your taxes and student loans.

Key moments:

05:18 Should a dual-dentist household file taxes separately? A real case study
18:00 Myths vs. reality of tax filing extensions
22:13 How filing taxes separately changes everything in a community property state
26:42 A physician-teacher couple cashes in on the breadwinner loophole
35:31 Reclaim your money by amending your MFS tax return

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Why Taking Out Loans Was Probably Very Smart Nov 04, 2024

Have you ever wished you could give your debt — and even your degree — back? The weight of student loans is no joke, but returning it won't improve your life. The truth? You're underestimating the position you're in. A professional degree offers more job security, higher income potential, and better protection during economic downturns. Stop beating yourself up and start recognizing the smart financial decisions you've made.

In today’s episode:

05:04 Your career choice might not impact your happiness as much as you think 10:22 Feeling stress and shame? You're in a better position than you think 12:26 Prioritizing happiness and setting healthy financial boundaries

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New Kid Starter Kit Nov 01, 2024

Bringing a child into the world is one of life’s greatest joys — and one of its biggest financial commitments. With so much to consider, it’s easy to feel overwhelmed. Learn real-life insights, personal stories, expert advice and practical tips to help make this transition as smooth as possible.

Key moments:

09:13 Health insurance coverage, costs, co-pays and coinsurance explained 14:44 How to take parental leave without going broke 20:12 Hidden advantages of pregnancy on your student loan payments 29:18 Balancing life insurance, estate planning and retirement goals

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The Court Cases Are Not Looking Good Oct 29, 2024

The SAVE lawsuit hearing did NOT go well for borrowers. What happens if SAVE was ruled to be unconstitutional along with the ICR statute? In this episode, we will share more about the challenges the SAVE plan is facing and what borrowers should consider up ahead.

Key moments include

01:30 What are the current SAVE lawsuits? 04:50 Student loan uncertainty causing statute confusion 12:35 SAVE plan forbearance considerations 17:38 PSLF real talk and how it is limited to certain groups 21:15 How politicians see student loan repayment plans 22:10 What borrowers should consider up ahead

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Beyond the Paycheck: Navigating the Benefits Buffet! Oct 25, 2024

Think you’re making the most of your health benefits? It’s open enrollment, and we’re decoding everything you need to know, from why HSAs are the most overlooked investment vehicle to the surprising perks hiding in your benefits package.

In today’s episode:

01:58 Making sense of health insurance HMOs, PPOs, high-deductible health plans, and HSAs 20:57 The big issue with group life insurance and disability insurance policies 32:07 Maximizing legal benefits and estate planning protection 36:37 Protecting the whole family with pet insurance

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New Grad Tips, Recertification Notices, and Possible Loopholes Oct 22, 2024

If you graduated back in May, your student loan grace period is about to expire. Get the inside track to navigate this new financial responsibility and manage recertification details. You’ll also find out the latest updates on forbearance options, hear success stories of borrowers who’ve benefited from payment recalculations and plan switches, and explore possible loopholes that might emerge if SAVE is repealed.

In today’s episode:

01:37 New grads must decide on loan repayment plans 11:30 Recertification timelines post-COVID forbearance 21:34 SAVE plan forbearance may be extended 28:52 The “double debt” loophole if SAVE is repealed

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Sleigh Your Spending: 20 Tips to Jingle Your Budget Bells Oct 18, 2024

We’re exploring spending and creative shopping tips beyond the age-old advice of setting a holiday budget. Get tips you can actually use to keep your finances in check from Halloween to the new year.

In this episode:

01:47 Hidden holiday costs and how to catch up after a really expensive month 12:18 Shopping tips for Halloween candy and costumes and nailing the lowest price on gifts 23:23 Get crafty and frugal with DIY gifts and holiday activities, plus Sim’s favorite holiday tip 32:19 Setting expectations with family to lower your stress levels

Links mentioned:

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The Worst-Case Scenario with SAVE Lawsuits Oct 15, 2024

Imagine a world where the SAVE plan is struck down by the courts, taking various income-driven repayment (IDR) plans with it and leaving millions of borrowers scrambling. This worst-case scenario could block hundreds of thousands from accessing Public Service Loan Forgiveness (PSLF) and introduce massive complications for those on IDR plans. But don’t worry, I’ll break down this doomsday scenario, discuss its implications, and offer strategies for how you can best prepare.

Highlights from this episode:

02:37 Tougher eligibility for PSLF and income-driven repayment 06:33 Key tax strategies (reducing AGI, filing separately, and community property considerations) 09:36 Why I’m not overly concerned just yet 16:51 How to make sure you can still get a spot on the IBR plan

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What Is the Internet Saying About $$: Reddit Reactions Oct 11, 2024

Reddit is a valuable yet risky source of information for student loans. Listen in to get actionable advice for real-life scenarios as we react to what people are saying about money online.

In today’s episode:

10:43 Navigating private loan lawsuits, bankruptcies, and strategic defaults 17:12 Reverse mortgage for a vacation: Good idea or bad move? 27:06 Not every choice is about money 39:32 Seeing friends get married and buy homes is hard if you’re not there yet

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IDR Application is Live Again: What Should You Do? Oct 08, 2024

After months of waiting, the Income-Driven Repayment (IDR) application is live again! But with all the changes, options, and deadlines, where do you start? Learn the steps you should take if you’re considering switching repayment plans, the implications for Public Service Loan Forgiveness (PSLF), and how to navigate the updated requirements for loan consolidations and recertifications.

In today’s episode:

4:37 Application processing, clarifying recertification, and the PSLF buyback 16:16 Double Consolidation advice for Parent PLUS borrowers 20:54 PSLF recertification and confusing payment count updates 34:17 When to consolidate and reasons why you shouldn’t

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I’m the Problem: A Convo About Behavioral Finance Oct 04, 2024

We’re getting honest about how we can unknowingly sabotage our financial success. We’ll break down common behavioral traps like holding onto investments because we’ve already put money into them (hello, sunk cost fallacy), making decisions based on recent trends (that’s recency bias), and following the crowd just because everyone else is (herd mentality). When we can recognize these behaviors, we can stop being the problem and start making better choices with our money.

In today’s episode:

11:31 A super-easy way to track financial progress 16:42 Our money story and how we grew up shapes how we manage money 21:25 Recency bias affects investment decisions, cyclic trends 37:08 Sunk cost fallacy, herd mentality, and dollar-cost averaging

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Massive Q&A (Listener Mailbag) Oct 01, 2024

Tackling the real issues you’re facing and answering a lot of listener questions that have come in about student loans. We’ll chat about the impact of possible political changes on loan forgiveness programs, share tips on managing your loans during servicer transitions, and give advice on everything from autopay issues to whether you should buy property in Hawaii.

In today’s episode:

00:38 Parent PLUS loan consolidation, Public Service Loan Forgiveness (PSLF), marriage and student loans 17:40 Advice for new graduates, administrative forbearance, early income recertification, PSLF buyback 30:19 Interest accruing during forbearance, PSLF credit for past payments, timing PSLF 41:32 Forgiveness timelines when there’s a gap between undergrad and grad loans, interest capitalization

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12 Steps to Go From Debt-Depressed to Financially Fabulous Sep 27, 2024

Balancing student loans and other financial goals can feel overwhelming, but it’s absolutely achievable. We’ll guide you through prioritizing your financial goals, from paying off debt to creating a solid foundation with brokerage accounts, retirement planning, and tax strategies for long-term success.

In today’s episode:

04:40 Start by building an emergency fund (step 1), making the most of your employer benefits (step 2), and paying off high-interest debt (step 3)

10:48 Next, invest in a brokerage account (step 4), increase your emergency savings (step 5), and secure disability insurance (step 6)

21:53 Max out your health savings or flexible spending accounts (step 7), contribute the maximum to your 401(k), 403(b), or 457 (step 8), and ensure you have life insurance (step 9)

39:56 Finally, contribute the maximum to your Roth IRA, or consider a backdoor Roth IRA if you don’t qualify (step 10), grow your brokerage account (step 11), and plan for long-term goals (step 12)

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The Huge Problem of Payment Caps Sep 24, 2024

Payment caps aren’t something most borrowers think about, but they can have a huge impact on anyone using an income-driven repayment (IDR) plan. With ongoing court battles that could reshape repayment options, it's more important than ever to understand what payment caps are, how they work, and why they could mean massive shifts in how borrowers handle their payments and pursue forgiveness.

In today’s episode:

01:03 How payment caps work under Saving on a Valuable Education (SAVE), Income-Based repayment (IBR) and Pay As You Earn (PAYE)

06:44 What happens if you can’t get on the income-based repayment plan?

11:51 Did the Biden administration’s handling of SAVE create more challenges for borrowers?

13:53 The final outcome hinges on Trump or Harris administration decisions

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Friends Don’t Let Friends Skip Leg Day: Finance Edition Sep 20, 2024

Just like physical fitness, financial fitness is key to a healthy life. Discover how personalized financial goals, like a tailored workout plan, can help you build a strong foundation with smart cash flow management, debt control, and a solid emergency savings strategy.

In today’s episode:

07:41 Cash flow planning makes it easier to balance your income and expenses 16:58 A larger emergency fund allows for a higher deductible, which can lower your insurance premiums 28:30 As life changes, so do your goals, and your savings plan should evolve to keep pace 38:11 Financial planning is most effective when personalized since everyone’s situation is so different

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How Did Student Loans Become So Political? Sep 17, 2024

Student loan forgiveness has been a political hot potato for years, and recent moves by the Biden administration have reignited fierce debates. I’m breaking down the political chess game behind these battles and where things might go from here.

In today’s episode:

09:24 Regulations unintentionally increased debt balances for borrowers 18:46 The COVID student loan repayment pause triggered a ripple effect 24:48 Transitioning to executive action after not getting support in Congress 31:10 Provoked by benefits, costs, and generous terms, Republicans decided to sue

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Are You On Track to Become a Millionaire? Sep 13, 2024

Find out where you stand financially and if you're on track to become a millionaire.

Financial experts Meagan McGuire and Sim Terwilliger explain how to evaluate savings strategies, balance debt with investments, and avoid overspending. You’ll also learn how understanding opportunity costs can help shape smarter financial decisions.

In today’s episode:

06:16 Calculate your current standard of living to estimate retirement expenses

16:03 Front-load retirement savings early in your career

21:45 Compare interest rates to prioritize debt repayment or investing

32:36 Use Investor.gov’s calculator to see where you’re at on your savings journey

Link mentioned:

Compound Interest Calculator

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Contingency Plans for Your Student Loan Plan Sep 10, 2024

Worried about changes to your student loan payments? It could happen if the Saving on a Valuable Education (SAVE) plan is repealed. Student loan experts Megan McGuire and Sim Terwilliger share how they’re advising clients to rethink their repayment approach.

In today’s episode:

05:24 Parent PLUS loan borrowers need a plan B and plan C

13:44 Fill out a forbearance application to postpone or reduce student loan payments

24:07 Monthly income-driven repayments (IDR) can spike if you don’t update your income

31:49 PSLF buyback can give you credit for months that didn’t qualify before

Link mentioned:

SAVE Plan Court Actions: Impact on Borrowers

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How Tax Advantaged Accounts Help Student Loan Borrowers Sep 06, 2024

Learn how to lower your taxable income and reduce student loan payments by optimizing pretax benefits like 401(k)s, IRAs, Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), and more. Financial experts Meagan McGuire and Connor Pierce guide you through these valuable strategies.

In today’s episode:

09:18 Strategies for maximizing retirement savings as a sole proprietor

16:49 How to reimburse medical expenses from previous years tax-free

26:07 Why a Roth IRA may be a smart choice for a lower-income tax strategy

34:05 The benefits of filing a tax extension to keep your student loan payment low

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The IDR Recertification Time Bomb is Coming Sep 03, 2024

With recertification deadlines for income-driven repayment (IDR) plans being pushed back repeatedly, there's a growing concern that borrowers may be hit with unexpectedly high payments once these delays finally end. This situation is creating what I call the “IDR recertification time bomb.”

In today’s episode:

03:37 Payments could skyrocket to 10 or even 20 times their current amount 07:03 IDR recertification could lead to chaos if the courts nix the Saving on a Valuable Education (SAVE) plan 13:57 Resources for student loan borrowers to prepare themselves

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5 Wealth Killers in America Aug 30, 2024

From mounting credit card and auto loan debt to the less obvious pitfalls of inflation and misguided investment choices, Meagan McGuire and Sim Terwilliger unpack the five financial traps they see student loan borrowers falling into.

In today’s episode:

01:41 Credit card debt, average balances by generation, and the best defense against growing balances 11:02 Car payments, average loan terms, and the pros and cons of buying vs. leasing 23:14 Unchecked consumerism, the lure of rage-baiting, and the dangers of chasing the status quo 33:32 Inflation and why investing is crucial to staying ahead 38:14 Student loans and the high price of not having the right repayment plan in place

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Bad Student Loan Vibes Aug 27, 2024

As legal battles unfold, student loan borrowers face a wave of uncertainty. In this episode, I’ll break down the latest developments from the 8th Circuit Court and explore how their recent rulings could impact the future of student loan forgiveness plans like Saving on a Valuable Education (SAVE).

In today’s episode:

02:33 The 8th Circuit Court's decision to halt the 400-page SAVE plan 05:04 My take on why the court may view the Biden administration's actions as illegal 06:58 Could the court challenge the legality of the ICR statute? 13:38 Student loan workarounds and strategies from tax filing tips to PSLF buyback

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The Portfolio that Fell Out of a Coconut Tree Aug 23, 2024

Ever wondered how politicians invest? Join me and special guest Meagan McGuire as we discuss the portfolios of Vice President Kamala Harris and other political figures. We'll explore the importance of a balanced portfolio and share our personal experiences on the value of seeking professional advice.

In today’s episode:

03:33 Kamala Harris’s portfolio that Meagan calls “vanilla boringness” 04:58 Senator Clinton's optimized, low-cost, passive investment portfolio 07:11 Speaker Pelosi’s net worth and a breakdown of direct indexing 14:54 Trump’s investment portfolio, types of holdings and the value of his real estate 21:20 Practical takeaways and lessons from their financial strategies

Link mentioned: Coconut tree meme, explained

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What is the Student Loan Opt Out? Aug 20, 2024

The latest on the Biden administration’s student loan cancellation program includes opt-out provisions that have left many scratching their heads. I’ll cover that and explain the legal back-and-forth and endless policy changes of student loan repayment, so you don’t have to feel so alone.

In today’s episode:

00:36 The 8th Circuit Court ruling means everything about the Saving on a Valuable Education (SAVE) plan is going to stay locked down
05:58 Positive outcomes that benefit borrowers
08:16 The reason behind the opt-out provision (hint: it's not about choosing to opt out)
10:26 Stay positive and focus on financial strategies that you can control

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How to Switch Jobs with Student Loans Aug 13, 2024

Switching jobs is about more than employee benefits and compensation packages when you’re a student loan borrower. Student loan advisors Connor Pierce and Jake Courtney explore how federal student loans can adapt to income changes, making them less stressful when contemplating career moves or starting a business.

In today’s episode:

06:10 Analyze Public Service Loan Forgiveness (PSLF) vs. private employer repayment options
13:29 Calculate hourly pay rate to assess commuting worth
20:27 Before you switch, check your vesting schedule
27:36 COBRA coverage and why it might be better than an ACA plan

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Why Pre-COVID Student Loan Rules Are Back (For Now) Aug 06, 2024

The labyrinth of pre-COVID student loan rules are making a dramatic return. I’ll explore the Biden administration's key regulations impacting Public Service Loan Forgiveness (PSLF) and income-driven repayment (IDR) plans, the legal battles putting these changes on ice, and what it means for borrowers caught in the middle.

In today’s episode:

01:50 Revival of Pay As You Earn (PAYE) and Income-Contingent Repayment (ICR) plans
04:45 PSLF borrowers have less to worry about, plus the “buyback provision”
08:03 Borrowers going for 20 and 25 year forgiveness could switch plans
12:46 The silver lining of choosing to do nothing

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The Good, the Bad and the Ugly of Disability Insurance Jul 30, 2024

Dennis Hornsby, licensed insurance agent, joins me to discuss the critical role of disability insurance in protecting your income and lifestyle. He shares his expertise on the advantages of purchasing coverage early to secure lower rates and the ethics of choosing the right broker. If you're a high-income professional or have student debt, you won't want to miss this.

In today’s episode:

05:19 Employer-provided group policy vs. one you purchase yourself 12:46 Residency and fellowship disability insurance discounts 19:24 An honest agent will sacrifice commissions to help you save on policy costs 24:36 Every year you wait to buy a policy, your rates can go up $10 to $20 per month

Link mentioned:

SLP Insurance disability policy quote

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Independent Multi-Practice Veterinarian on Conquering Ownership Fears Jul 23, 2024

I had an inspiring conversation with Dr. Mike Walker, a veterinary practice owner. Listen is as he shares his journey from graduating vet school in 2017 with significant student loan debt to owning Apollo Vet, a clinic worth between $4 to $5 million today.

In today’s episode:

04:46 Preparing financially before starting a business
16:51 Fear of the unknown, business opportunities and financial projections
30:43 The role of mentors in starting a business
40:24 You don't need to be an expert to launch a startup

Links mentioned:Find Dr. Mike Walker on Instagram

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Emergency Pod: SAVE Plan Blocked Jul 19, 2024

The Saving on a Valuable Education (SAVE) plan is being temporarily blocked by an appeals court, and the whole plan could be in jeopardy. No new sign ups are allowed, but this is not the final word. Here’s what you need to know.

SAVE Plan Could be Toast Jul 16, 2024

The Saving on a Valuable Education (SAVE) plan faces legal heat. Two separate lawsuits, one in Missouri and another in Kansas, each attacking the plan from a different angle. Is the SAVE plan in danger of disappearing? I’ll explain what the lawsuits mean for student loan borrowers and why they’re a risk to the SAVE plan, so you know exactly what’s going on.

In today’s episode:

02:04 The Missouri and Kansas lawsuits could go all the way to the Supreme Court
07:17 Progressive groups advocate freezing the student loan system
17:54 My advice for borrowers caught in the middle
24:03 Tax-free forgiveness for borrowers in the private sector expires in 2026

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PSLF on Pause Jul 09, 2024

Public Service Loan Forgiveness (PSLF) has been on pause since May while servicing transitions away from MOHELA, causing waves. Student Loan Advisors Sim Terwilliger and Sam Silberstein dissect what these shifts mean for borrowers. Learn the new processes for submitting and tracking PSLF forms through StudentAid.gov, the impacts of administrative forbearance, and the long-term outlook for PSLF.

In today’s episode:

06:23 How the pause in submissions during May and June affect processing
08:43 When forbearance counts for PSLF forgiveness, and when it doesn’t
14:50 Avoid complications by submitting employment certification annually
20:15 Borrowers can audit student loan payment counts

Links mentioned:

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SAVE Plan Injunction: What It Means For Student Loan Borrowers Jun 27, 2024

The student loan world continues to change. Looming deadlines are approaching and there is an injunction to the Saving on A Valuable Education (SAVE) plan.

Listen in as student loan experts Kathleen Boyd, CFP®, CSLP® and Lauryn Williams, CFP®, CSLP®, AFC® answer your burning questions. Including factors and considerations for the SAVE plan injunction, Pay As You Earn plan, Income Contingent Repayment plan and IDR waiver.

SAVE injunction news
SAVE risk tolerance
Pay As You Earn final call
FAQs: When will forgiveness happen?
Why is there an injunction?
Should I stay on my student loan repayment plan?
Income Contingent Repayment final call
ICR and Parent PLUS Borrowers considerations
IDR waiver consolidation considerations
When will there be more student loan updates?
Student loan deadlines to be aware of

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Last Call for PAYE, ICR and the IDR Waiver Jun 25, 2024

A looming June 30, 2024, deadline means big changes for student loan borrowers. Student loan experts Lauryn Williams and Connor Pierce explain why this is the last call for the IDR waiver, Pay As You Earn (PAYE) plan and Income Contingent Repayment (ICR) plan. Learn what’s at stake with these benefits phasing out and how to avoid costly mistakes.

In today’s episode:

03:58 Last chance for Pay As You Earn (PAYE) and why it’s crucial for professions with escalating incomes

13:30 Income Contingent Repayment (ICR) is going away for borrowers who don’t have Parent PLUS loans

20:24 IDR waiver benefits before they expire and why you might need to consolidate your loans before June 30, 2024

30:19 Undergrad borrowers on Saving on a Valuable Education (SAVE) could see their payments drop July 1, 2024

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Rising Student Loan Interest Rates Jun 18, 2024

Student loan interest rates are on the rise as we head into the 2024-2025 academic year. What does this mean for you? David Aizuss, CSLP®, explores the effect on students, graduates, and parents. Discover how student loan interest rates work and why higher interest rates could change your approach to repayment and forgiveness.

In today’s episode:

01:46 New higher interest rates for undergrad, grad school, and Parent PLUS borrowers

08:24 You shouldn’t be afraid of student loan interest

16:33 Interest rates don’t really matter if you’re pursuing Public Service Loan Forgiveness (PSLF)

26:36 Parent PLUS borrowers face significant challenges with the loophole closing

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IDR Sensitive Investing Jun 11, 2024

I’m exploring investment strategies tailored for student loan borrowers, tackling tax challenges, investment allocation, and how specific identification of shares can make all the difference. Plus, I share the link between income-driven repayment (IDR) plans and your investment returns.

In today’s episode:

04:25 50% VTSAX and 50% VTIAX for simple investing
10:20 Accumulate losses to offset future capital gains
13:39 Rising interest rates can mean increased itemizing
24:59 Diversified investment strategies for optimal tax efficiency

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PAYE is Ending: What You Need to Know Now Jun 04, 2024

One of the most beneficial income-driven repayment (IDR) plans will be discontinued on July 1, 2024. Why haven’t you heard about Pay As You Earn (PAYE) going away? Because it’s not mentioned on StudentAid.gov (as of the date of this podcast), and borrowers have told us they’re getting mixed messages from their servicers.

PAYE’s discontinuation was buried in the Federal Register, a massive legal document, and it’s a huge change for some borrowers. Angie Pack, CSLP®, and Ben Lacomis, CSLP®, unpack what this change means for you.

In today’s episode:

05:35 Deciding if PAYE is right for you 16:11 When the new Saving on a Valuable Education (SAVE) plan wins 22:12 PAYE tips for dentists and physicians 44:41 Enrollment deadline is uncertain for PAYE 49:39 How your income shapes the best repayment plan

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Big Nelnet Problems and Summer Updates May 28, 2024

Listen in as I answer questions from our mailbag, discuss the peculiar happenings at Nelnet, and provide updates on where we stand with student loans in May. We’ll start with listener questions about the $12,000 10-year forgiveness option, Parent PLUS loans, and income-driven repayment (IDR) recertification dates. You’ll also hear about summer updates like sweeping forgiveness programs, lawsuits trying to block student loan forgiveness, and how the upcoming presidential election could change your student loan payment.

In today’s episode:

00:54 Can borrowers get two kinds of forgiveness with one Direct Loan consolidation?

03:28 Will the Parent PLUS double consolidation loophole kick borrowers off the SAVE plan

06:25 Does early IDR recertification change your recertification date?

08:45 What to do if your Parent PLUS payment is more than you can afford

12:54 Nelnet stopped consolidations, causing concern and delays

15:60 The Department of Education should either fund or fire MOHELA

17:45 Student loan policy depends on political control

18:53 The FAFSA fiasco and speculation on resignations

22:17 Summer updates: forgiveness, lawsuits, and student loan policy

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A New Graduate’s Guide to Student Loan Strategies May 21, 2024

Are you staring at a mountain of student debt, unsure where to begin? Whether you’ve just tossed your graduation cap in the air or are in the early stages of your career, the key to regaining control lies in choosing a repayment plan that aligns with your financial goals and lifestyle.

Meredith Jones, CSLP®, AFC®, and Connor Pierce DPT, COMT, CMPT, CSLC®, guide you through the benefits of employer-sponsored loan repayment programs, the advantages and pitfalls of various income-driven repayment plans, and how to use these options to maintain financial flexibility.

They also discuss the nuances of integrating student loan management into your broader financial planning, ensuring that your debt doesn’t derail your career ambitions. Tune in to take charge of your student loans, potentially saving a significant amount of money and stress post-graduation.

In today’s episode, you'll find out:

How your debt-to-income ratio can determine the best repayment strategy for your student loans
About the tax implications of employer-provided student loan benefits and how they affect their actual value
Why employer student loan benefits may require careful evaluation if you're aiming for loan forgiveness
Why you don’t have to let student loans define your career path
How contributions to pre-tax retirement accounts lower adjusted gross income and reduce student loan payments
Differences between loan forgiveness timelines of PSLF, New IBR and the SAVE plan
Why having a high debt-to-income ratio might make loan forgiveness more beneficial
Risks and considerations when refinancing or using a cosigner for student loans
How specific repayment plans can unlock interest subsidies and possibly achieve $0 payments
How strategic loan consolidation could lead to debt freedom six months earlier
Tips to navigate your graduation transition, including mandatory exit counseling

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What Really Happens at a Consultation? The Truth Behind Our Student Loan Advice May 14, 2024

Curious about student loan planning? This episode is packed with real-life scenarios, insider knowledge, and practical advice for your student loan journey. Get insight into ambiguous regulations, servicer misinformation and the impact it has on borrowers from Lauryn Williams, CFP®, CSLP®, AFC®, and Justin Kim-Hummel, former client and integral member of the Student Loan Planner team who brings a wealth of experience from his background in PR, graduate studies, and time working on Capitol Hill. Together, they tackle challenges, answer frequently asked questions, and reveal the dedication and care that goes into every consultation. Learn why this is more than just advice. It's about connecting with experts who genuinely care about your financial well-being and student loan success.

In today’s episode, you'll find out:

Justin's journey from client to becoming a crucial part of the Student Loan Planner team
Firsthand insight into why many borrowers are dealing with misinformation and lack of clear guidance from loan services
The dangers of following bad advice from student loan servicers
Key benefits of booking a consultation for personalized advice and savings
How uncertainty surrounding the election can impact student loan policies
How to best use the free resources offered by the Student Loan Planner team
How the Student Loan Planner team uses office hours to manage client questions and concerns
What kind of post-consultation support you get when implementing your custom plan
What information you'll need to share with a consultant to get the best advice
How a consult can address the unique financial situations of high earners who may not qualify for forgiveness
How expenses like credit card debt and housing costs factor into student loan repayment options
The limitations of giving advice by email and how the customer support team manages expectations
Why you don't have to turn on your camera during a virtual meeting with a consultant
How long it takes to get a personalized student loan plan

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Double Your Profit, Lower Your Stress May 06, 2024

Travis shares the best stress reduction strategies out there for current and aspiring business owners.

Enroll at https://studentloanplanner.com/profit

Credit Card Mastery: Hacks to Leverage Benefits in Your Favor Apr 30, 2024

Get ready to uncover the myths, master the rewards, and smartly amplify your spending power — all while keeping your finances sharp and your debt strategy on point. Whether you're looking to squeeze every last benefit out of your credit card points, contemplating the right card for your business expenses, or simply looking to use your cards more strategically, this episode is a goldmine. Listen in as Meagan McGuire, ChFC®, CSLP®, and Mary Rush, CFP®, CSLP®, talk tricks, tips, and savvy spending with every swipe. Discover how to make every dollar and every point work harder for you.

In today’s episode, you'll find out:

How to leverage credit cards and credit card rewards to your advantage
About the benefits Meagan and Mary have personally enjoyed from credit card rewards programs
Why the common belief that carrying a balance improves your credit score is wrong
How maintaining a low credit utilization rate can benefit your financial health
When and how to utilize 0% balance transfer cards to manage debt effectively strategies for using credit cards as budgeting tools, including how to use statement balances
The perks of cashback vs. niche-specific credit cards and which is best for you
Why credit cards provide better fraud and travel protection than debit cards
Mary's strategy for maximizing rewards with travel and cashback credit cards
Meagan's experience with using a credit card for business and the rewards she missed from not using a personal card
Details on point conversions of airline miles, cashback and reward points
Tips to utilize credit cards for significant expenses like weddings, home improvements or even paying taxes

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What Happens After the IDR Waiver? Apr 23, 2024

A timely discussion of what happens as we face down the expiration of the IDR waiver. Will the administration extend it at the last second? We don't know (as of the time of the recording). But one thing is sure: Borrowers can expect seismic shifts as the IDR waiver ends. It's been key to unlocking the forgiveness gates for many, but its flexible counting of nearly any kind of payment toward forgiveness expires at the end of April. We'll recap the IDR waiver and its benefits and explore what happens after the IDR waiver ends. Get clarity about your next steps and the implications of these changes on your student loan repayment journey.

In today’s episode, you'll find out:

How the end of the IDR waiver impacts borrowers who've been in forbearance or deferment
Changes borrowers should prepare for after the IDR waiver expires
How borrowers with older loans will suffer the biggest consequences as this program ends
Options for maximizing qualifying payment count when consolidating loans
Consequences borrowers will face when Pay As You Earn (PAYE) applications close
What the precedent of moving borrowers from REPAYE to the SAVE plan means for the future of IDR programs
How to calculate the cost-benefit of married filing separately for taxes
Tips to navigate the PSLF pause during the transition from MOHELA to the Department of Education
What “consolidation Death Valley" is and why it could impact you in May-June 2024
Best practices for dealing with the coming uncertainty of student loans

Links mentioned: StudentAid.gov

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Roth IRA Disasters to Avoid Apr 16, 2024

Roth IRAs are a highly recommended retirement savings option but it’s not all smooth sailing. Student loan repayment, income limitations, and tax filing status can lead you to treacherous waters. Learn the missteps to avoid and how to correct mistakes before they escalate into hefty fines and taxes. Join student loan advisors Meagan McGuire, ChFC®, CSLP®, Sim Terwilliger, CFP®, CSLP®, and Sam Silberstein, CFP®, CSLP®, and explore contribution deadlines, the pro-rata rule, form 8606, the impact of being in a community property state, and how dual-income households should strategize their student loans and retirement savings. If you’re tired of cookie-cutter advice, you don’t want to miss this episode.

In today’s episode, you'll find out:

Why lack of profession-specific planning is the biggest mistake you can make in your financial journey
The impact of the pro-rata rule when converting traditional IRA funds to Roth IRAs
When to contribute to your Roth IRA to maximize your retirement savings
Why high-earners might want to contribute to a Roth IRA despite income limits
How to fix backdoor Roth IRA issues, including tactics for zeroing out accounts
The importance of prioritizing pre-tax savings when you’ve got student loans
How community property states complicate Roth IRAs and what to do about it
Dodging extra taxes and penalties is possible if you contributed to a Roth by mistake
How side hustlers and independent contractors can leverage Solo 401(k) plans
Why income projections are critical to nail the right contributions and keep the IRS happy

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Last Call for the IDR Waiver Apr 09, 2024

It's the last call for the IDR waiver (aka IDR account adjustment). If you’ve listened to this podcast, you probably know what it is — but if you're not sure how the IDR waiver could benefit you, or if you have questions about PSLF, loan consolidation, or income recertification, this episode is for you.

I’ll take you back to the beginning of the IDR waiver and walk you through it to make sure you get the most benefit before it expires on April 30th. You’ll also hear answers to listener questions about loan forgiveness and repayment plans and get valuable insights into the upcoming changes in consolidation rules.

In today’s episode, you'll find out:

The final (final) deadline for the IDR waiver and the need for timely action
The hidden strategy behind introducing the PSLF waiver before the IDR waiver
Potential benefits of consolidating student loans and crucial considerations to keep in mind
How the IDR waiver is a game-changer for borrowers with complex loan histories or multiple loans
New options if you’re thinking about loan consolidation
A key tip for submitting employer certification forms for PSLF credit
Why brining up the awkward topic of student loans with your friends could benefit you and your peers
Common misconceptions about PSLF and employer certification, including a major myth busted
How to find the recertification date for IDR and how to recertify income for income-driven repayment plans
Strategies for handling recertification and loan consolidation to align with changes in income
The role of HR and the cautious approach taken when attesting to employment details for PSLF
How to turn in a new IDR application after loan consolidation

Links mentioned:

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The Dept of Education Shifts PSLF Processing from MOHELA: The Real Reason and Borrower Impact Apr 03, 2024

The Public Service Loan Forgiveness (PSLF) program is undergoing major changes. The government is taking over processing from MOHELA, and a temporary pause is expected in May and June. How will this affect you? First, don’t panic — PSLF isn’t shutting down. The government is simply pausing processing while they transition everything over.

But you’ll want to take a few proactive steps to safeguard your payment count before the transition happens. Listen in as I dissect the real reasons behind these changes. Could it be a strategic move in the future student loan management?

Find out how it can impact your forgiveness:

Why the Department of Education is hitting the pause button on PSLF
When to expect service disruption for your student loan management
How the transition from MOHELA to the government impact PSLF processing
The motivation behind the government’s decision to take PSLF from MOHELA
How the temporary shutdown will affect you, especially if you’re expecting forgiveness in May or June
Implications of the Department of Education’s plan to centralize PSLF tracking
What you need to do now to safeguard your payment count

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Why Most Borrowers Will Get Forgiveness Now (Even Those With Small Balances) Apr 02, 2024

It sounds shocking, but it’s a reality we can’t ignore — and this isn’t just about folks burdened with 6-figure student loan debts. Now, even if you have a smaller loan balance, you have a path to student loan forgiveness. It’s the new SAVE repayment plan that’s making it possible. Listen in as we explore key factors shifting borrowers away from repayment toward forgiveness, from the increase in discretionary income allowances to the potential for accelerated forgiveness. You’ll discover the key moves you should consider and why freeing yourself from student loan debt could happen sooner than you think.

In today’s episode, you'll find out:

Unexpected ways the new SAVE plan is transforming student loan repayment advice for borrowers
The impact of ultra-low interest rates in the early 2000s on student loan repayment
Why chasing student loan forgiveness is outpacing traditional repayment methods
How “micro” levels of debt could qualify for quick student loan relief
The surprising link between debt management and mental health
How understanding your future stream of earnings can revolutionize your loan strategy
Behind-the-scenes political maneuvers shaping the future of your student loans
How to navigate the joint vs. separate tax filing dilemma for couples with student loans
Creative tactics for investing in self-care while navigating loan uncertainty
How to leave a voicemail for the podcast to ask questions about student loans and personal finance

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MOhela MO Problems Mar 26, 2024

To put it bluntly, MOHELA has student loan borrowers jumping through hoops to get things done, and it’s been extremely frustrating. Countless delays and mistakes being made, hours of being on hold or even being hung up on by servicers… the list goes on! In this episode, hosts Sim Terwilliger, CFP®, CSLP®, Sam Silberstein, CFP®, CSLP®, and Ben Lacomis, CSLP® join forces to shine some light on everything MOHELA is doing wrong. You’ll get tips and tricks to protect yourself from their mistakes. You’re not alone in this, folks! Let’s talk about what you can do to get the forgiveness you deserve and avoid falling for MOHELA’s mischief.

In today’s episode, you'll find out:

Common issues that student loan borrowers are experiencing with MOHELA
Red flags to look out for if you use MOHELA
How to prevent your PSLF from being reversed
Tips for ensuring you get the student loan forgiveness you qualify for
When and why you need to recertify your employment and income verification forms
Our shockingly disappointing experiences communicating with MOHELA
Insight to getting the most out of your phone call with MOHELA
When you should file a complaint with the Student Borrower Protection Center
MOHELA delays you should be aware of
How long does it take for student loans to be forgiven
How to approach filing your taxes amidst student loan forgiveness issues

Links mentioned:

Student Loan Borrower Protection Center

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The Tax Bomb Cliff Is Coming Mar 19, 2024

We’re standing at the edge of a major financial cliff that no one is ready for. Student loan forgiveness is happening at unprecedented rates — $138 billion and counting. Right now, borrowers are enjoying tax-free forgiven student loan debt courtesy of the American Rescue Plan. However, these benefits are set to expire at the end of 2025, leaving borrowers to face a tax cliff with unknown consequences.

We’ll explore the legal skirmishes already bubbling, like the Kansas Attorney General’s case against the SAVE plan, and analyzing their impact and preparing for the potential scenarios ahead. I’ll also highlight the vital deadlines you need to know, like the expiring IDR waiver and the barrier to new entrants for the Pay As You Earn plan that’s coming up in July 2024.

In today’s episode, you'll find out:

How the SAVE plan, IDR waiver and PSLF waiver are helping borrowers
The possibility of court challenges to President Biden’s student loan policies
What’s at stake with the coming student loan tax bomb due post-2025
Potential cancelation scenarios based on political outcomes as election season heats up
Deadlines you can’t miss and their impact on student loan repayment strategies
How the American Rescue Plan is enabling large-scale loan forgiveness
What President Biden’s plan is to address the tax bomb cliff in 2025
About hardship-based forgiveness and the push for widespread cancelation

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You Have a New Job. Now What? Mar 12, 2024

For those of you stepping into new roles, congratulations! This milestone comes with a lot of things to think about, from managing lifestyle inflation to understanding the impact of major purchases on your future. We’ll uncover valuable insights on income-based student loan payments, refinancing options, and how to approach big decisions like whether to rent or buy a house. I’ll help you unpack the price-to-rent ratio so you can make a well-informed decision based on financial and personal factors. We'll also discuss contract negotiations, gender disparities, non-compete agreements, and the importance of getting the most out of your benefits package.

In today’s episode, you'll find out:

How to use contracts for better severance or negotiation during job changes
Why you shouldn’t accept being bullied during training or residency
Key factors in job matching for medical professionals
Benefits of income-based student loan payments and the pitfalls of early recertification
Essential insights for loan refinancing and selecting the best payment plans
Tips for making smart housing choices, like rent vs. buy, during life changes
Negotiating techniques beyond salary to yield better benefits and work-life balance
The impact of gender and non-compete agreements in specialized professions
How to manage lifestyle inflation and understand consumption smoothing
The role of marginal utility in making financially savvy decisions
The emotional biases in finance advice from experts like Suze Orman and Dave Ramsey
How to celebrate a job success or career change without sinking your finances

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Till Debt Do Us Part Mar 05, 2024

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Emergency pod: IDR Recertification Pause Extended Mar 01, 2024

Deadlines for updating your income and family size information for your IDR plan have been extended to late September 2024, at the earliest.

Tips I’ve Learned as a Business Owner Feb 27, 2024

Are you curious about business ownership? Whether you're just flirting with the idea of starting your venture or already knee-deep in entrepreneurship, this show is packed with actionable advice to help guide your journey. We'll explore why setting boundaries is not just a buzzword but a fundamental practice for any successful business owner. You’ll also discover specific strategies to carve out a profitable niche, edge out competition, and utilize barriers to your advantage. But the key takeaway here is that student loan debt shouldn’t be a barrier to your dreams. So grab your notepad, and let's jump into the world of business ownership with a clear head and a strategic mindset.

In today’s episode, you'll find out:

How boundaries are a crucial part of business success
Why focusing on profitability is crucial before scaling up
Ways to validate your business model without offering discounts
Why barriers, competition, and market availability are key to your business choice
How regulatory barriers can offer both challenges and benefits
The importance of identifying specific customer pain points and solving them
Strategies to address low reimbursement rates or high service costs
The financial impact and workload considerations when dealing with insurance companies
Why holding free clinics might be a better strategy than accepting low-paying insurance
The best ways to balance family life, retirement, and work fulfillment

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Tax FAQs from Student Loan Borrowers Feb 20, 2024

Tax season got you scratching your head? Let’s clear the fog. Join me and Rebecca Bauldauf, CPA, CCFC, from the SLP Wealth tax team, as we navigate the maze of taxes, student loan planning, family dynamics, and long-term financial strategies. Whether you're flying solo or juggling the finances of a growing family, you’ll discover actionable tips that could lead to substantial savings, from the ins and outs of tax service fees to strategies for retirement savings and dealing with the IRS. And if you're in search of a long-term financial ally, learn how to find the right tax help that aligns with your goals. Get ready to reshape your financial approach and transform your tax strategy!

In today’s episode, you'll find out:

The hidden impact of commoditized tax prep services
When higher CPA fees become worthwhile for complex tax situations
Advantages of hiring different firms for their practice and personal tax returns
Two crucial financial moves for low-income earners
How marriage changes your tax game, tax filing status and student loan payments
Smart retirement savings strategies that factor in PSLF and employer matches
Key steps for residents to maximize their tax bracket and student loan situation
The secret weapon of the 1040-X form in tax filings
How to navigate 'married filing separately' in community property states
If you should link your student loan account to the IRS or manually certify income
How tactical contributions to retirement accounts can make a huge difference in your student loan repayment journey
Why coordinating tax and financial planning teams improves your financial position
Pros and cons of filing taxes separately for childless couples with student loans
The importance of long-term tax planning regardless of income level

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Which Tik Tok Finance Tips Get You Arrested? Feb 13, 2024

Financial advice has never been more accessible — or more questionable. Are you ready to tackle the truth behind those viral finance hacks you’ve seen online? The barrage of personal finance advice on platforms like TikTok is a siren song, promising financial security and a life free from money worries. But those tips can affect more than just your wallet. Some might get you a slap on the wrist, while others could land you in legal hot water. Join me as I sift through the noise of self-proclaimed “experts” peddling easy wealth, from misleading tax credit pitches and hazy tax advice to exaggerated real estate loopholes and sketchy investment opportunities. Discover how to distinguish between genuine advice and deceptive, flashy pitches to build a solid financial foundation that can withstand the trends and temptations of our times.

In today’s episode, you'll find out:

How pandemic relief is stretching the IRS too thin, leading to tax fraud and scams
The exact requirements and documentation for the short-term rental tax loophole
Why you can’t focus solely on “maximizing wealth”
The ins and outs of student loan loopholes and how to avoid pitfalls
How visual effects can skew your perception of financial advice found on social media
Why “vanilla” insurance products win out over complex insurance-investment hybrids
How actuaries calculate insurance product profitability and why it favors the company
Why the allure of low interest rates and novelty causes alternative investments to surge
Why decisions based on student loan forgiveness programs can be risky
The real estate loophole to use if one spouse works full time and the other takes on real estate investing
The truth behind the marketing of whole life and universal life insurance
Why tax-efficient index funds may be a better investment alternative
How the concept of “infinite banking” could be misleading
When borrowing against insurance products might not be the best option
Why the smartest financial move is to verify before you buy

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Financially Undressing: A Talk About Your Debt Feb 06, 2024

Are you ready to strip away the layers of your financial life? We’re unbuttoning the secrets of debt management and financial planning. We cover everything from the impact of inflated car prices on credit and the potential risks and benefits of home equity lines of credit (HELOCs) to debt management strategies and the potential tax implications of forgiven debt. Senior Student Loan Advisors Sim Terwilliger, CFP®, CSLP®, and Meagan McGuire, ChFC®, CSLP®, share expert insights on debt consolidation, budgeting for recurring expenses, and the significance of prioritizing mental health while working towards financial goals. Get ready to shed some light on your financial wardrobe with valuable tips to help you become debt-free and financially empowered.

In today’s episode, you'll find out:

The difference between the funnel method and the strainer approach for financial goals
How the pandemic’s inflated car prices are impacting car loans and credit
What high loan-to-value ratios mean for your credit score
The role of credit reports for landlords, jobs, and future debt costs
How car payments can make or break your house hunting journey
A warning to parents about using HELOCs to pay for children’s college costs
When to use HELOC vs. double consolidation for student loan debt
What changes borrowers can expect in student loan forgiveness programs
Why math-based strategies like debt avalanche or debt snowball aren’t a slam-dunk
The sneaky language in cosigner agreements and why refinancing is a smart solution
What types of debt to prioritize before paying off private student loans
How to get out of default on federal student loans
The secret to leveraging debt to earn money rather than paying it off
Options when dealing with IRS debt and how to balance payment options

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Using Real Estate to Lower Student Loan Payments Jan 30, 2024

The world of real estate can feel overwhelming. The rewards can be incredible, but it’s a journey filled with highs and lows. Joining me is Student Loan Advisor Rebecca Baldauf, CPA, CCFC, and Senior Student Loan Advisor and partner in SLP Wealth Dan Rooker, CFP®, CSLP®. They’re sharing their experiences with multifamily properties, I open up about my challenges with home renovations, and together we’re getting real about real estate investment and why you shouldn’t let student loans get in your way. You’ll learn about savvy tax planning, investment strategies that can make a big difference, and what it takes to get Real Estate Professional Status. Whether you're already dipping your toes in the real estate waters or just real estate-curious, this episode is a fountain of insights, personal stories, and expert advice.

In today’s episode, you'll find out:

Key tax-saving strategies and depreciation tricks in real estate
How to calculate property depreciation from the purchase price
Why real estate taxes are different from other investments
The impact of real estate investment on financial health and lifestyle
How real estate influences income-driven repayment plans
Why refinancing real estate in changing market conditions can be a smart move
What Real Estate Professional Status is and how to get it
When to use 1031 exchange to defer capital gains tax in real estate
The good and the bad of investing in owner-occupied properties
How passive real estate investments like REITs factor into taxes
Why tax planning is crucial when renting out personal residences
What bonus depreciation is and how it can help you build wealth

Links mentioned:

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Married Filing Separately Traps to Avoid Jan 23, 2024

Just in time for tax season, I’m unraveling the complex tax strategy of married filing separately. You might have heard that it’s a game-changer, especially for folks with student loans. But it’s not at all straightforward. You’ll learn the dos and don’ts, and I’ll uncover tips to help you avoid costly mistakes and even find some savings along the way. We’ll talk about everything from how your and your spouse’s income can play a huge role to unexpected losses like tax credits and deductions. Also, if you're juggling things like adoption expenses, dependent care credits, or figuring out the best way to handle your retirement contributions, I've got you covered. Student loan borrowers on an IDR plan, don’t miss the best tip: find out how delaying your tax filing just might be in your best interest.

In today’s episode, you'll find out:

Why married filing separately might lead to higher taxes, especially with uneven incomes
How filing separately affects ACA subsidies and Medicare premiums
The effect on tax credits and deductions, including those for dependent care and education
Challenges with Roth IRA contributions when filing separately, including backdoor strategies
Why filing separately is different in common law versus community property states
How filing separately can interfere with small business deductions and credits
Why delaying tax filing can save you money on income-driven student loan repayments
Tax consequences for borrowers in loan forgiveness programs when filing separately
The cost and benefits of professional tax services combined with financial planning
How inaccurate income reporting can leave you vulnerable to audits and penalties

Links mentioned:

Get profession-specific tax help with SLP Wealth

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Timeline and Predictions for Student Loans in 2024 Jan 16, 2024

Get a sneak peek into what lies ahead in the world of student loans in 2024 as I discuss upcoming changes, potential scenarios and strategies you need to know. You’ll learn about administrative forbearance, income-driven recertification, the influence of the 2024 presidential election, and policy changes that could significantly impact you as a student loan borrower. There are many ways to save money right now on payments. So, if you want to stay ahead of the game, buckle up and get ready for an episode packed with valuable student loan insights.

In today’s episode, you'll find out:

About the widespread impact of the current administrative forbearance on over 3.5 million people
How the administrative forbearance is causing a political stir between Democrats and Republicans
The challenges arising from policies announced through press releases instead of legislation
How the 2024 presidential election might reshape student loan policies
Whether the administrative forbearance is likely to conclude in early 2024
The implications of income-driven recertification before March 2024
How to get a refund for payments made during the forbearance period
Strategies for lowering payments by self-certifying income until October 2024
What the expiration of the IDR waiver means for borrowers
How the new SAVE plan will alter payment plan rules
The ripple effect of these changes on employers and personal finance strategies
The potential for new cancellation rules and their impact on borrowers
Consequences for borrowers with loans from 2007 to 2014 due to phased-out payment plans
Proactive strategies for saving money as a student loan borrower

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

10 Ways to Save $1,000 in 2024 Jan 09, 2024

Want to build up your savings or cut costs in 2024? From filing taxes and saving on insurance to buying a car and saving for travel, I’m bringing you 10 ways you can save at least $1,000 this year. And some of these can potentially save you $10,000 or more. The best part? These are strategies you can learn and do on your own. Of course, you can enlist the help of a financial expert if you want more support on your journey.

Just know that you have the ability to stash away a good chunk of money this year… and who knows, maybe you’ll finally be able to take that vacation you’ve been dying to go on! Plus, you’ll learn how to get a limited-time discount on our investing course, Six-Figure Debt to Six-Figure Net Worth.

In today’s episode, you'll find out:

How to lower your tax bill with tax-loss harvesting
How car buying services (like Costco or Sam’s Club) can save you money on a new car
The best way to save on flights, hotels, car rentals, and other travel necessities
When to put off income recertification for income-driven repayment plans
Why the stock market’s 26% gain in 2023 could be bad news
If you should increase your policy deductibles
Why “shopping around” for insurance policies is more than a marketing gimmick
The effect of the difference in tax rates for saving vs. investing
Why you should open a retirement account if you’re self-employed
When to opt for a brokerage account instead
How to file taxes the smart way
Why you’re uniquely positioned to weather a potential stock market downturn

Links mentioned:

More ways to save money and cut costs with our Six-Figure Debt to Six-Figure Net Worth course
Membership clubs like Costco and Sam’s Club
Travel discounts at Hotwire and Hotels.com

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Book your custom student loan plan

Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Your Top 10 Financial Dreams for 2024 Jan 02, 2024

We recently conducted a survey where thousands of our listeners generously shared their financial dreams for 2024. Listen in as I explore the top 10 financial goals straight from our audience. We’ll tackle debt management challenges, explore various paths to financial independence, early retirement, and personal fulfillment. You’ll get practical, actionable tips to fast-track your financial success. Whether your dream aligns with those shared by our audience or you’re pursuing your own unique goal, I’ll guide you on how to make it a reality. Let's dive in and discover the knowledge, tools, and path to help you achieve your financial goals in 2024 and beyond.

In this episode, you'll find out:

The top 10 financial goals of Student Loan Planner listeners and how to achieve them faster
Misconceptions about helping family financially and the importance of providing knowledge and support
A new financial perspective by re-evaluating the purpose of being debt free
How redefining student loan debt as a 'tax' can shift your mindset and improve how you manage loans
The impact of health ailments on individuals and families and the importance of planning for worst-case scenarios
The benefits of strategically financing big-ticket items
Different types of Financial Independence, Retire Early (FIRE) and how it impacts work-life balance
Encouragement to pursue travel and overcome obstacles such as financial constraints and limited time
How to better align financial decisions and strategies with your goals
Ways to adopt a conservative approach in planning for housing and other major expenses
How leveraging multiple income streams can mitigate income loss fears and improve financial security
Why your approach to worst-case scenario planning can enhance financial decision-making
Strategies for transitioning to an entrepreneurial role while managing risks and fears
How to achieve generational wealth to gain freedom and transform your life
The importance of accountability in making your financial dreams a reality

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

What to Know About Student Loans for 2024 Dec 26, 2023

As 2023 comes to an end, it’s the perfect time to think about smart student loan moves you should make in 2024. First, I answer listener questions about administrative forbearance, consolidating loans, tactics for keeping student loan payments low, in-school deferment waivers and more. I’m not just helping you prepare for the upcoming shifts in student loan repayment plans, I’m also looping you in on tax advantages, smart deferment methods and common payment pitfalls that might have slipped under your radar. Get ready to step into the New Year with valuable insights and a solid game plan for your student loans.

In today’s episode, you'll find out:

Does administrative forbearance count for PSLF and IDR
Can you get a refund for payments made while in administrative forbearance
How to keep your student loan payment low (and how NOT to)
How the 2024 presidential election results might impact student loan repayment
When it makes sense to consolidate your loans after the IDR waiver
What child-dependent tax credits you lose when you’re married but filing separately
What professions could use an in-school deferment waiver or SAVE plan strategy
Why you need to beware of the FSA payment tracker and forgiveness dates
The importance of gathering your payment history and payment count
The signup deadline for PAYE plans
How to get ahead on Parent PLUS double consolidation applications
What to do when administrative forbearances end

 Links mentioned:

Need help with taxes? Get answers with our tax team
Have questions about being married and filing taxes separately? Book a call now!
Check out our doctor mortgage calculator

FinCon Panel Discussion: Insider Advice on Student Loan Repayment, Default, Rehabilitation and Consolidation Dec 21, 2023

Listen in to a panel of student loan experts recorded live at FinCon 2023. FinCon is the world’s largest financial content expo. You’ll hear first-hand strategies and tips from lawyers and financial planners specializing in student loans. Together, they answer audience questions and discuss student loan topics like loan repayment and risk mitigation strategies, consolidation vs. refinancing, what happens when you default on your loans and the future of student loan forgiveness in 2024. This is a fun, yet informative bonus episode with insights from the best student loan experts to help you on your path to repayment.

In today’s episode, you'll find out:

A student loan lawyer’s perspective of the current/future state of student loan forgiveness
If there will be a replacement student loan forgiveness plan in 2024 and who could benefit
Whether the IDR waiver will be fully implemented before the 2024 election
How PSLF relates to IDR account adjustments
The difference between student loan consolidation vs. refinancing
How the SAVE plan is different from other income-driven repayment plans (and why it’s so beneficial for borrowers)
If you can still access the SAVE plan or get loan forgiveness after refinancing loans into private student loans
How to mitigate tax risks related to student loan forgiveness
How student loan borrowers get into default and the top 3 ways to resolve a defaulted student loan
How to negotiate a settlement after you default on your student loans
Things you need to know when filing for bankruptcy with unpaid student loans

Links mentioned:

Get out of default: Fresh Start from the from the U.S. Department of Education
Find local student loan attorneys in your state: National Association of Consumer Advocates (NACA)

Connect with the panelists:

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

40 Essential Power Moves to Conquer Student Loan Repayment (Pt 2) Dec 19, 2023

Get ready for part two of our 40 tips to supercharge your student loan repayment journey. Hosts Ben Lacomis, CSLP®, Derenda King, CFP®, CSLP®, Scotty McDonald, CSLP®, and Meredith Jones, CSLP®, AFC®, share valuable insights on student loan forgiveness, income driven repayment plans, and other critical strategies for managing student debt. From exploring federal loan forgiveness options to budgeting tips and tricks, this episode is packed with practical tips to help you optimize your approach to student loan repayment.

In today’s episode, you'll find out:

How income driven repayment (IDR) eases the burden for those with high balances or low income
Expert tips to qualify for Public Service Loan Forgiveness (PSLF)
When consolidating your student loans is a smart move or a financial misstep
How a ladder approach in refinancing can unlock lower interest rates for your student loans
Creative alternatives to manage student loan debt when forgiveness programs don't fit
Budgeting hacks and lifestyle shifts that can turbocharge your loan repayment journey
How to make sure you’re not missing out on teacher or military loan forgiveness
When and how bankruptcy might be your escape route from student loan burdens
The secret link between credit scores, timely payments, and better student loan terms
Why pursuing loan forgiveness in rural healthcare careers can be a game-changing strategy

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Book your custom student loan plan

Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

40 Essential Power Moves to Conquer Student Loan Repayment (Pt 1) Dec 12, 2023

Whether navigating the post-graduation grace period, exploring new repayment options, or looking to supercharge your loan payoff, this episode is jam-packed with practical advice to help you take charge of your financial journey.

Hosts James Mwombela, CFP®, CSLP®, Rebecca Baldauf, Jake Courtney and Sam Silberstein deliver a wealth of insights for effectively managing student loans. No matter where you are in your career, you’ll walk away with actionable tips and the latest strategies to confidently tackle your student loan debt.

In today’s episode, you'll find out:

The financial benefits of paying during the grace period to minimize interest accumulation
How consolidating loans after graduation can be smart, especially if your past income was more 'ramen diet' than 'caviar dreams'
The value of a student loan planner in creating personalized repayment strategies that align with your career ambitions and financial situation
How returning to school could enhance career prospects and open doors to loan forgiveness
Potential upcoming improvements in income-driven repayment plans
Insights on managing student loans with strategic considerations for prioritizing private student loans
The date Parent PLUS loans need to know for access to lower monthly payments
How claiming student loan interest deductions affects your AGI
Why avoiding forbearance is crucial when aiming for loan forgiveness
The role of the debt avalanche method and current considerations for refinancing student loans
How targeting high-interest student loans first can be a strategic move for repayment
The ins and outs of the 12-month ramp-up period for borrowers struggling to make payments
The benefits of an income-driven repayment plan as an alternative to default

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Final countdown for the IDR Waiver Dec 05, 2023

Time is running out for the IDR Account Adjustment. The so-called “IDR Waiver” is the biggest backdoor student loan forgiveness program in history, and it’s ending in less than 30 days. Learn exactly what the IDR Waiver is, the steps you need to take to take advantage of it, and how it could give you immediate forgiveness even if you didn’t know you were eligible for it. I’ll clarify some common misconceptions about the Waiver and shed some light on potential regrets for those who miss the deadline. Then, we’ll explore how student loan repayment will change after the IDR Waiver ends, what borrowers are getting wrong about the SAVE plan, and why getting expert guidance is even more critical in a post-IDR Waiver world.

In today’s episode, you'll find out:

The IDR waiver's historic significance in student loan forgiveness How to get credit for forbearance and repayment plans before the deadline slips away Eligibility criteria to maximize benefits of forgiveness How the IDR Waiver transforms older loans into forgiveness superheroes Forgiveness eligibility of the IDR Waiver vs. the PSLF Waiver When the forgiveness date tracker will be available from the Department of Education Potential discrepancies in forgiveness payment count accuracy from the Department of Education How long you’ll have to wait for a payment count adjustment after the IDR Waiver What to do if you’re on the SAVE and PAYE income-driven repayment plan Misconceptions about the SAVE plan’s interest payments The best strategies for post-IDR Waiver student loan repayment Common borrower challenges, including filing taxes separately, navigating PAYE repayment plans and consolidation issues for Parent PLUS loans

Links mentioned:

Payment Count Adjustments SAVE Repayment Plan Biden-Harris Administration IDR Announcement

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Expert Strategies for College Funding, Even If Time Isn’t On Your Side Nov 28, 2023

College funding isn’t everyone’s favorite topic. However, the reality of higher education costs requires a proactive approach. If you’ve been diligently saving for years or are realizing the urgency to start now, valuable insight awaits you in this episode. Join our host, Meagan McGuire, CSLP®, as she sits down with Student Loan Advisors Derenda King, CFP®, CSLP®, and Rebecca Baldauf, CPA, CCFC. Together, they share proven strategies and insider tips to bridge the gap between savings and college expenses. Listen in to get the expert guidance you need to navigate the choppy waters of college funding.

In today’s episode, you'll find out:

The rising education costs and its ripple effects on families and finances
The ins and outs of student loan consolidation, plus little-known forgiveness strategies
How a 529 savings plan offers flexible college funding without sacrificing other financial goals
Tax benefits and implications of using retirement accounts to save for college expenses
How the Student Aid Index factors into how much you’ll pay for college
Whether it’s legal and ethical to adjust assets to influence the financial aid equation
Potential pitfalls and considerations before taking out Parent PLUS loans
How to make the most of the time you have left to save for college

Links mentioned:

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Smart Money Moves for Parents: Understanding FMLA, Retirement, and More Nov 21, 2023

Navigating the maze of family finances isn’t for the faint of heart, especially when student loans are part of your story. Get ready to reshape your financial future with insights tailored specifically for parents. Our expert Student Loan Advisors Lauryn Williams, CFP®, CSLP®, and Sim Terwilliger, CFP®, CSLP®, bring their expertise directly to you, offering practical, actionable advice that goes beyond the basics. This episode is packed with essential knowledge of FMLA, disability benefits, and savvy tax strategies, all designed to elevate your money management skills as a parent.

In today’s episode, you'll find out:

How to navigate the complexities of parental leave deferment for Stafford loans pre-July 1993
Empowering tips for expectant and new moms about support and creating cherished moments
The essentials of FMLA and short term disability for new parents
Innovative strategies for using 529 plans and managing Parent PLUS loans for your child's education
Tips for managing family size changes and parental leave
The best place to stash your emergency fund
How to optimize your parental leave by staggering benefits
How to decode tax implications and access credits for new parents
The connection between maternity leave, disability, and effective student loan

Links mentioned:

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Tax Loopholes That Could Save You Five Figures Nov 14, 2023

This is a groundbreaking episode where I’m unveiling something that will revolutionize your financial world. Joining me is Rebecca Baldauf, CPA, CCFC, and together, we’re rolling out our new tax planning service. Tailored to anyone who would love to streamline financial, student loan, and tax planning strategies, SLP Tax Planning brings together a seamless in-house team of experts marching forward together “in lockstep.”

You’ll discover a few tax strategies that have specific impacts on borrowers managing student loan repayment and tips for business owners to consider. We’ll also cover why we’re rolling out a tax component (hint: wealth planning and tax optimization go hand-in-hand) and how our suite of services is uniquely designed with you in mind. So, skip the headache of juggling the many moving parts of a cohesive financial plan and don’t miss the debut of this exciting new tax planning service.

In today’s episode, you'll find out:

Why mastering student loan management is crucial for effective tax planning
Creative ways to optimize charitable deductions for better tax outcomes
Strategies for maximizing mortgage interest deductions in today's market
How to smartly use capital losses to lower your adjusted gross income
The benefits of renting your home to your business and how to do it right
The importance of tracking carry-forward losses to maximize tax savings
How business owners can use Section 179 for significant tax deductions
About navigating the nuances of deducting business meals and entertainment
Structuring your business for the best tax advantages
Leveraging tax filing extensions to benefit your income-driven repayment plan
How to decide the best filing status in light of your student loan situation
The benefits of income splitting in community property states
Key steps to engage with SLP’s tax planning service
A special offer for podcast listeners to join SLP Wealth with a bonus

Links mentioned:

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

The Coming Married Filing Separate Bonanza Nov 07, 2023

Get ready for a tax revolution that could save you a fortune. Today, I'm diving into how smart tax planning, when combined with savvy student loan repayment strategies, can shield you from giving Uncle Sam more than his due. Discover why having a trusted advisor who understands the nuances of your profession, earnings, and debt is vital, the influence of the new SAVE plan on married couples' filing status, and the ramifications of the IRS and Department of Education's data sharing for your wallet. With complex rules and your financial future in the balance, we're blending tax advice with wealth management to bolster your loan repayment plans — and for a short period, we're dropping the sign-up fee.

In today’s episode, you'll find out:

How our survey on the SAVE plan and data sharing reveals crucial tax insights many don't know
Why the new SAVE plan is swaying more couples to file taxes separately
Must-know tax planning tips for student loan holders to sidestep future financial pitfalls
Whether filing a tax extension could be a smart income move
Best practices for claiming dependents in complex tax situations
Tax structuring secrets for married borrowers in community property states
What the latest IRS rules and your debt situation mean for loan forgiveness options
The urgent call for coordinated tax planning in light of automated IRS-Education Department data sharing
The often-overlooked long-term expense of DIY tax software like TurboTax
The financial logic behind our bundled financial and tax planning services launching now
A sneak peek at next-level tax strategies we'll explore in upcoming episodes

Links mentioned:

Find out more about SLP Wealth
Book an onboarding call with SLP Wealth

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Why Are We Doing Financial Planning Now? Oct 31, 2023

The world of student loans is not just about debt. It's an intricate dance of financial decisions, potential pitfalls, and unexpected opportunities. But financial decisions for a student loan borrower are anything but simple.

A lot is lurking in the shadows, and today, I’m joined by Dan Rooker, CFP®, CSLP®, to shine a light on it. We’re sharing why we’re doing financial planning and how we redesigned what clients should pay to save you time, money, and stress in your financial lives. As an added perk, today’s listeners get an exclusive offer on a reduced fee.

In today’s episode, you'll find out:

Why a financial plan is essential for student loan borrowers and how it can lead to significant savings
Key investment techniques involving taxes and tax loss harvesting
The shortcomings of automated financial advisors
Why financial advice must take a big picture approach of your situation and goals
Why we made it our mission to make services accessible for all income levels
Exciting new service offerings we plan to roll out soon
How our fees compare with other financial advisers in the industry
The breadth of professional groups we cater to and our areas of expertise
Real-world examples of potential financial missteps

Link mentioned:

SLP Wealth

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Student Loan Forgiveness, Refunds, and Fresh Starts for Borrowers Oct 24, 2023

The weight of student loans can be a significant challenge. Many borrowers have felt powerless, fearing that their student debt would control their life decisions for ten or twenty years or more. However, it doesn’t have to dictate your financial journey. Senior Student Loan Advisor Lauryn Williams, CFP®, CSLP®, is joined by Student Loan Advisors Jake Courtney, CFP®, CSLP®, and Marcel Miu, CFA, CFP®, to help you find a balance between student loans and enjoying life.

In today’s episode, you'll find out:

How PSLF’s reputation steered borrowers away from forgiveness options
Why borrowers with high student loan balances gave up on repayment
How the new SAVE plan could redefine your approach to loan repayment
Unexpected pitfalls of refinancing federal student loans during the pandemic
The unique student loan struggles millennials are grappling with today
What the Fresh Start program is and how it can be a game-changer for borrowers
Why current conditions may deter borrowers from refinancing student loans
Ways to squeeze joy out of life despite student loan debt and financial challenges

Link mentioned:

A Fresh Start for federal student loan borrowers

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

A New Subsidy Strategy Has Arrived Oct 17, 2023

New repayment plans are opening the door to new loopholes for borrowers, including a new subsidy strategy. I’m sitting down with Senior Student Loan Advisor Meagan McGuire, CSLP®, to share an exciting new tactic with the SAVE plan that can help you subsidize all of your grad school loans.

Learn about weighted average of balances and its impact on loan repayment options, including Public Service Loan Forgiveness. You’ll also hear eye-opening insights into the Department of Education’s calculation errors that have affected hundreds of thousands of borrowers.

In today’s episode, you'll find out:

The new subsidy strategy that’s a loophole for grad school borrowers
Why taxpayers file separately to lower student loan payments
How to recoup lost tax credits by amending past tax returns
Whether potential caps on Parent PLUS loans are fair
The impact of calculation errors and issues with administrative forbearance
How weighted average works and how it affects loan repayment
About the mental toll and anxiety of borrowing student loans
Predictions for the future of student loan policies and forgiveness programs

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Book your custom student loan plan

Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Expert Insights: How Student Loans Impact Financial Planning Oct 10, 2023

In this action-packed episode, financial experts and student loan consultants Jared Costigan, CFP®, Logan Murray, CFP®, CSLP®, EA, and Lauryn Williams, CFP®, CSLP®, explore the profound impact of student loans on everyday life. You’ll hear stories of consultations where clients discovered surprising opportunities for loan forgiveness, leading to emotional reactions and newfound hope; the macroeconomic implications of the impending restart of student loan payments and how it presents a valuable planning opportunity for borrowers; and how retirement planning and aggressive repayment strategies fit into your student loan repayment strategy.

In today’s episode, you'll find out:

How retirement planning intersects student loans
Financial opportunities for borrowers as student loan payments resume
How income-driven repayment can make your monthly payments more manageable
The benefits of integrating student loans into your overall financial roadmap
Why you shouldn’t wait to ask for help with student loan payments
How student loan planning is different from traditional finance and why it’s often overlooked
What drives our experts in a sneak peek behind the scenes with the SLP team
The story of a client who unlocked a staggering $150,000 in loan forgiveness during a consultation
Financial planning opportunities for borrowers who haven’t included student loan payments in their budget
The importance of income-driven payment plans and payment reduction

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Book your custom student loan plan

Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Traps to Avoid as Payments Resume Oct 03, 2023

As student loan payments restart after a three-and-a-half-year break, borrowers are facing challenges. Most of the traps revolve around applying for SAVE, linking your IRS data to the Department of Education, and reaching out to your student loan servicer. When navigating these pitfalls, it’s crucial to consider your unique situation instead of blindly following the Department of Education's one-size-fits-all solution. Listen in to learn common mistakes to avoid and what to do when your servicer messes up.

In today’s episode, you'll find out:

How to avoid payment traps and servicer mistakes as payments start
When to set up autopay, and when to turn it off
What to consider before applying for the SAVE plan
Why you shouldn’t link your IRS data with the Department of Ed
Problems with income recertification
When alternative documentation for income is best for borrowers
Downsides of calling your servicer with student loan questions
How to be strategic to find solutions for servicer issues
What to do when your servicer messes up
Actions to take to resolve servicer mistakes
How to get support to navigate servicer issues

Links mentioned:

StudentAid.gov SAVE Repayment Plan Student loan servicers

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Feeling helpless when it comes to your student loans?

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Book your custom student loan plan

Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Your Top Questions as Payments Resume Sep 26, 2023

I’m covering your most pressing questions as we prepare for student loan payments to resume. The forbearance period is ending, and there’s a lot of uncertainty and confusion about how to navigate the repayment landscape. I’ll discuss the recent developments with the PSLF waiver and IDR waiver, shedding some light on how these changes might affect your chances of loan forgiveness. Learn your next steps, whether you’re considering refinancing, changing repayment plans, or just want to understand the new regulations.

In today’s episode, you'll find out:

The pros and cons of refinancing your student loans, including when it's worth it to switch to a private lender
The complexities involved in qualifying for PSLF and the IDR waiver
How the IDR waiver can significantly impact your loan forgiveness eligibility
When to consider forbearance as a short-term strategy
Why you might want to wait until 2024 to make any changes to your repayment plan
Why you should be cautious when considering switching to the new SAVE plan
How new borrowers as of July 2014 have different options compared to those with older loans
The political changes that could impact future loan repayment options
How to amend your tax returns to maximize your benefits under PSLF
How we’re planning to help you with tax preparation

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Feeling helpless when it comes to your student loans?

Try our free student loan calculator
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Book your custom student loan plan

Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

From Borrowing to Empowering: Navigating Student Loans with Meredith Jones, DVM, CSLP®, and Gabe Rooker Sep 19, 2023

Meagan McGuire, CSLP®, hosts two incredible guests, Meredith Jones, DVM, CSLP®, AFC®, and Gabe Rooker, who will share their experiences and insights into the world of student loan planning. Meredith, known for running a debt-free veterinarian Facebook group, sheds light on the common finance-related questions and struggles shared within the group. And Gabe, with a background in engineering, shares his journey of working for Intel and tutoring high school students on his days off to becoming an authority in college planning and student loan guidance.

Gabe and Meredith are both part of our dedicated team of student loan advisors, and their expertise and passion for helping others will inspire and empower you in your student loan journey.

In today’s episode, you'll find out:

The initial shock of realizing scholarships don’t cover as much as you’d think
Why it’s crucial to discuss uncomfortable topics like student loans
The trickle-down effect of student loan planning into other areas of personal finance
Common finance-related questions and struggles shared by fellow veterinarians
The new rule change that helps certain physicians qualify for PSLF
The breakdown of the student loan planning process and its benefits
Strategies for adapting to the constant changes and updates in student loan planning
How to overcome the fear and confusion surrounding student loans
Thoughts about leaving a stable job to pursue a passion for helping others with student loans
How student loan consultants and doctors/veterinarians share similar client interaction and goal-oriented approaches
The unique paths that led Gabe and Meredith to become part of the Student Loan Planner consultant team
Why student loan planners aren’t afraid of uncomfortable conversations about student loans

Resources mentioned:

Virtual Veterinary Financial Summit: https://vetfinancialsummit.com/summit
Book a student loan consult with Meredith
Book a student loan consult with Gabe

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Try our free student loan calculator
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Book your custom student loan plan

Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Top Questions About The SAVE Plan Answered Sep 12, 2023

The SAVE plan has become a hot topic for many borrowers, and we’re getting a lot of questions. I will answer the top questions we see, including what it is and when you need to sign up for it. I’ll cover important deadlines and major red flags you need to know about student loans. You’ll learn how the SAVE plan can impact your loans, why it might not be the best option for every borrower, and what to do if you’re unsure about your repayment strategy.

In today’s episode, you'll find out:

The pros and cons of the SAVE plan and why it isn’t the right fit for everyone
When to choose PAYE over SAVE for a more cost-effective repayment option
Final dates for taking advantage of the IDR account adjustment
Deadlines for signing up for PAYE and ICR repayment plans
If the SAVE plan is better than the new REPAYE plan people have been talking about
Why our student loan advice for 2023 is still valid in light of the new SAVE plan
When and how to apply for the SAVE plan
What Parent PLUS borrowers need to know about consolidations and access to the SAVE plan
The real reason why higher education is so expensive
Upcoming consultation openings in October
More information on SLP Wealth and tax services

Links mentioned:

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Feeling helpless when it comes to your student loans?

Try our free student loan calculator
Check out our refinancing bonuses we negotiated
Book your custom student loan plan

Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Master Student Loan Consolidation, Income Recertification and Parent PLUS Repayment Sep 05, 2023

Arm yourself with “quick hits” — essential tips to guide you through the labyrinth of recent student loan updates. As student loan payments restart, Lauryn Williams, CFP®, CSLP®, and Meagan McGuire, CSLP®, share how to maximize opportunities on your student loan repayment journey. Discover the revamped consolidation application designed for better efficiency and ease. Learn the benefits of removing the spousal sign-off requirements and the improved IRS data retrieval tool. Get the lowdown on the double consolidation process for Parent PLUS loans and why you shouldn’t wait to take action. Listen in to stay ahead of the game when managing your student loans.

In today’s episode, you'll find out:

How changes to the consolidation application can influence your decision to consolidate
How your spouse’s information can affect student loan consolidation, regardless of separate finances
How to get real-time payment estimates with the IRS data retrieval tool
The new option of uploading income certification documentation digitally versus traditional mailing
Top pros and cons of the double consolidation legal loophole for Parent PLUS loan borrowers
Why parents with student loans need to add the July 2025 deadline to their calendar
Common problems borrowers face when consolidating or choosing an income-driven plan
Why interest capitalization isn’t as bad as you think
The importance of considering your entire financial picture when evaluating your student loan repayment strategy

Links mentioned: Direct Consolidation Loan Application Income-Driven Repayment (IDR) Plan Request The IRS Data Retrieval Tool (DRT)

The Student Loan Pause Has Ended. Now What? Aug 29, 2023

If you’re looking for effective ways to manage your student loan debt now that the student loan pause is over, this episode is your ticket to the next steps. Listen in as I explore the nuances of different loan repayment options for various professions. You’ll discover how our powerful student loan calculator can pinpoint repayment amounts and how to use the information to optimize your repayment strategy — your payments could be as low as $0 with the new SAVE plan. I’ll also talk about the importance of keeping cash flow low and whether investing in the stock market outweighs using the extra money to pay down student loans. So, let's get started! In today’s episode, you'll find out: Ways your student loan payment and interest could be as low as $0 a month Subsidized payment options for resident physicians and other borrowers Why keeping cash flow low is crucial, especially if you're not well-compensated The difference in interest rates between 10-year and 20-year loans and why it may not matter If you should invest in the stock market or use the extra money to pay down your student loans How to overcome income uncertainty in the first years of practice How short-term interest rates can impact your student loan repayment journey Why 5-year loans are typically cheaper than 20-year loans How to compare your current payment to the SAVE plan and determine the best course of action When to wait to recertify your income for income-driven repayment The risks in authorizing loan servicers to pull data from the IRS for income recertification Like the show? There are several ways you can help! Follow on Apple Podcasts, Spotify or Google Podcasts Leave an honest review on Apple Podcasts Subscribe to the newsletter Feeling helpless when it comes to your student loans? Try our free student loan calculator Check out our refinancing bonuses we negotiated Book your custom student loan plan

Emergency pod: Deadline to ask for student loan refunds is next week Aug 23, 2023

Which borrowers need to take urgent action to get refunds before next weeks deadline.

Building Bridges, Changing Lives: Student Loan Planning and Personal Finance Insights with Sam Silberstein Aug 22, 2023

Meet our newest team member, Sam Silberstein, CFP®, CSLP®. A seasoned financial consultant and coach, Sam brings a wealth of knowledge and expertise to the table. Join our host, Lauryn Williams, CFP®, CSLP®, as she and Sam delve into her journey in the world of finance and her passion for student loan planning. Sam shares her experiences with self-taught learning, her decision to undergo additional training in student loan planning, and the invaluable lessons she’s learned from industry experts. Sam also opens up about her love for musicals, her beloved cat, and the struggles she’s faced managing her own finances.

In today’s episode, you'll find out:

Sam’s background and passion for helping others manage their finances
The importance of customizing financial strategies
How Sam and SLP are filling gaps in financial planning
How to understand and cope with the anxiety and trauma associated with student loan debt
Why it’s Important to work with consultants that provide support
How to address concerns about the cost and value of consultations
Who may still be eligible for PSLF waivers and student loan forgiveness
The diversity of SLP consultants and how to book a consultation

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Feeling helpless when it comes to your student loans?

Try our free student loan calculator
Check out our refinancing bonuses we negotiated
Book your custom student loan plan

Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

New Lawsuits, Payment Confusion and PSLF Regulations Aug 15, 2023

Combining PSLF waiver forgiveness and consolidation strategies have led to student loan debt discharges that caught many borrowers by surprise. But time is running out for the IDR waiver. I’ll explain why you need to act fast (especially if you have FFEL loans) so you’re not left behind. If you’ve heard about SAVE, the new Income Driven Repayment plan, you need to know that having a Direct Loan is the only way to take advantage of it. You’ll also hear about student loan changes, PSLF benefits, and more to help you take the next right step in your student loan repayment journey.

In this episode, you'll find out:

Why keeping up with student loan changes and acting fast is crucial to avoid being left behind
How the PSLF waiver and consolidation resulted in debt discharge for many borrowers
Why you need a Direct Loan to take advantage of the new Income Driven Repayment plan
Why you may need to make decisions and take action even if you don’t have all the information
The steps to contact your student loan servicer to make sure your payments are made on time
The potential impact of payment timing on forgiveness and subsidies
How lobbying efforts led to new rules benefiting physicians and other PSLF-eligible borrowers
What might happen if a court rules against the IDR account adjustment

Link mentioned:

PSLF Help Tool

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Try our free student loan calculator
Check out our refinancing bonuses we negotiated
Book your custom student loan plan

Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Introducing New Student Loan Planner Consultant Scotty McDonald Aug 08, 2023

Meet Scotty McDonald, CSLP®, the newest addition to the Student Loan Planner consulting team. Host Lauryn Williams, CFP®, CSLP®, walks Scotty through his journey of career transitions and finding his passion in personal finance. He shares his background, growing up in Atwater, California, and attending art school. Scotty explores his personal journey with student loan debt and the importance of focusing on the things within our control and using past decisions to inform future strategies. Finally, Lauryn and Scotty discuss their approach to spending money, emphasizing the importance of aligning expenses with what brings them joy and moves them closer to financial independence.

In today’s episode, you'll find out:

How Scotty went from fancy art school to personal finance
Scotty’s philosophy about how to handle regret and frustration from past decisions
A common misconception about working for yourself and having flexible hours
How growing up in California shaped Scotty’s minimalist lifestyle
Scotty’s first interactions with Travis and Student Loan Planner in 2016
What motivated Scotty to pursue a career in helping individuals with their finances
The 3 factors Scotty considers before spending any money

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Feeling helpless when it comes to your student loans?

Try our free student loan calculator
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Key Student Loan Deadlines to Know in 2023 and Beyond Aug 01, 2023

Important deadlines are looming on the horizon, and there’s a lot to unpack. I’ll cover the essential information you need to know about consolidating loans, navigating forgiveness programs, and making crucial decisions before the upcoming deadlines. Learn the advantages and considerations of loan consolidation based on income and loan amounts, the impact on monthly payments, and how to determine if consolidation is beneficial using our SAVE calculator. I’ll also address the recent changes in the Public Service Loan Forgiveness (PSLF) program, the ongoing challenges faced by the Department of Education, and the potential political landscape that could affect loan forgiveness in the future. Listen in as I answer listener questions and offer strategies to maximize forgiveness opportunities.

In today’s episode, you'll find out:

How to determine if you should consolidate based on income and loan amounts
Why borrowers need to prioritize minimum monthly payment
When consolidation might not be the best financial decision
How to use our student loan calculator to see if you should consolidate
Why the Department of Education might not fulfill all their promises
Why you might want to hold off on refinancing federal student loans
The importance of deciding whether couples should file taxes separately or jointly
How to determine if switching from Pay As You Earn (PAYE) will save you money
Why Parent PLUS borrowers may face exponentially higher payments if they miss deadlines
Crucial student loan deadlines you don’t want to miss
The best way to navigate support and get issues resolved with your loan servicer

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What’s Stopping You from Getting Financial Help? Overcoming Challenges to Live Your Best Life Jul 25, 2023

Getting financial help isn't easy, but avoiding it can have a ripple effect on your life. Lauryn Williams, CFP®, CSLP®, and Rob Bertman, CFA, CFP®, are diving deep into the long-term consequences of not getting the support you need. They explore the barriers to seeking financial help, emphasizing the stigma, shame, fear, and hopelessness that often surround financial issues.

Discover how to reframe the narrative to focus on the positive aspects of student loan debt in particular, such as education and career opportunities. Rob and Lauryn also tackle the cultural taboo surrounding discussions about finances and seeking the necessary help to truly revolutionize your financial life and live your best life ever.

In today’s episode, you'll find out:

The full scope of the impact of everyday financial decisions
How location, time constraints and lack of funds make financial advice hard to get
How to reframe your shame and guilt of debt to focus on the positive aspects
Advice on prioritizing tasks and picking something to move forward with
Why people wait to reach out for help after a personal event or someone else’s financial hardship
The importance of a spouse’s information when getting financial advice
The best ways to balance personal and financial goals
Why taking an inventory of cash flow, debt, taxes, investments, and other factors is crucial to financial health

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Why the New IDR Regulations are a Pandora’s Box Jul 18, 2023

The new Income-Driven Repayment (IDR) guidelines are complex and controversial. Essentially it’s a Pandora's Box of regulations implemented by President Biden. Listen in as I break down the key facts and implications of these regulations, including plan blocking, revisions to existing plans, limitations on plan switching, encouragement to file taxes separately, and increased freedom for schools. In addition, I provide useful insights to help you navigate these regulations and practical advice to help you repay your student loans.

In today’s episode, you'll find out:

How to navigate the new IDR regulations for student loan repayment
Why I think we’ll see tuition increases before and after elections
The fine print, loopholes and limitations of the new IDR regulations
My tips for borrowers on how to choose the right repayment plan
Why it's crucial for PSLF borrowers and those with outdated payment certifications to reassess their repayment plans
The potential consequences of switching to a new plan, including higher monthly payments
What Parent Plus borrowers should know about how the new regulations may impact loan repayment
How to build your roadmap to financial relief by analyzing the impact of the new IDR regulations
The temporary relief provided by the IDR waiver and its expiration date at the end of December
How to assess the cost and benefits of the new IDR regulations for your situation

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Introducing the SAVE Plan: The Biggest Change to Student Loans Ever Jul 11, 2023

Details about the new student loan repayment plan are finally here. It’s called SAVE, and it stands for Saving on a Valuable Education. I’m uncovering crucial details about the new plan and how it’s replacing the existing REPAYE plan. It’s the biggest change to student loans we’ve seen, and it has the potential to simplify student loan repayment and save borrowers thousands or even hundreds of thousands of dollars. I’ll dive deep into the details, discussing recent changes, strategic applications, and the impact on Public Service Loan Forgiveness.

In today’s episode, you'll find out:

How to get a 12-month forbearance period after payments start with the Biden administration’s new rule
The implications of this forbearance, including its effect on credit reporting and loan interest accrual
How the “special onramp forbearance” can strategically benefit borrowers
An example where a brain surgeon with a significant student loan balance can be eligible for forgiveness
How the COVID forbearance allows credit toward a 20 or 25-year repayment plan and PSLF
What are the impacts of the recent changes to consolidation rules, and how it affects undergrad borrowers
How the new SAVE plan works and why it will make repayment less complicated
What Republicans are proposing for income-driven repayment plans
Insight into the potential cost projections of the Biden administration’s SAVE plan and possible legal challenges

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How to Make Sure Student Loans Dont Interfere With Your Retirement Jul 04, 2023

There’s a complex intersection of education, retirement, and the growing issue of student loan debt, particularly among older individuals.

Join me as I explore the “gray student loan crisis,” strategies to lower income for retirement, and how to get six years (or more) of student loan forbearance by simply asking for it. What about healthcare costs in retirement? I’m covering that, too, including insights into Medicaid and health insurance bureaucracy. Finally, I talk about the importance of mental health and why you should always prioritize your life over your loans.

In today’s episode, you'll find out:

How education equips individuals with the tools to save for retirement and achieve their financial goals
The emerging gray student loan crisis and how it poses a bigger problem for retirement planning
The exponential growth of student loan debt among older individuals, with factors such as rising education costs and the inability to declare bankruptcy contributing to this trend
Different strategies to lower income in retirement, including paying income-based repayments on student loans
The potential impact of a no-questions-asked forbearance option on student loan repayment strategies and retirement savings
Insights into the uncertainty surrounding the end of the student loan pause and its implications for borrowers
Why you may want to avoid Medicaid even if you qualify for it
The challenges of navigating the healthcare system, specifically related to
Medicaid eligibility, healthcare choices, and managing health insurance costs
Strategies for utilizing forbearance responsibly to maximize income-based repayments, save money, and build a strong retirement fund
The potential benefits of consolidating student loans to extend forbearance eligibility and effectively manage debt

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Emergency Pod: Cancelation Update Jun 30, 2023

The latest update on the status of Student Loan Cancelation based on the announcements made June 30, 2023.

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Disability Insurance Planning with Dan Rooker, CFP®, CSLP®, and Lauryn Williams, CFP®, CSLP® Jun 27, 2023

You’re more likely to experience a disability than death, yet student loan borrowers and their families often overlook disability insurance. Two of our student loan planner consultants are exploring the crucial topic of disability and death planning. Join Dan Rooker, CFP®, CSLP®, and Lauryn Williams, CFP®, CSLP®, to learn the qualifications for Total and Permanent Disability (TPD) discharge and why estate planning is necessary even if you don’t have dependents.

The discussion covers estate planning documents and considerations for digital assets and guardianship for children. Additionally, you’ll gain insight into private student loans and how they differ from federal ones in terms of death or disability discharge. Tune in for valuable tips about the legal documents, benefits, and planning strategies that can help protect you and your loved ones in unforeseen circumstances.

In today’s episode, you'll find out:

How disability insurance protects your income and why it's crucial for financial security
Situations where you'd need disability insurance and examples that highlight its importance
What documents you need to obtain Total and Permanent Disability discharge for federal loans and navigate the process successfully
Key considerations to keep in mind before refinancing private loans
What happens to private student loans after the borrower dies, including implications for both the borrower's estate and co-signers
Why financial planning is more than just budgeting and student loan repayment
The reasons why you need an estate plan, even if you don't have dependents, and how it can protect your assets and ensure your wishes are honored
How rental property owners can effectively plan for emergencies and mitigate potential risks
Common legal terms and important documents used in estate planning that you need to know
What elements should be included in comprehensive estate planning, such as addressing digital assets, establishing guardianship, and more
The importance of funding trusts and debunking misconceptions in the context of estate planning
Why it's crucial to name beneficiaries on accounts and how it affects the distribution of assets
The biggest mistakes to avoid when it comes to estate planning and how to navigate the process smoothly
Why you should start early and not wait to begin estate planning

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How to Handle "Advice Anxiety" Jun 20, 2023

“Advice anxiety” has two distinct elements. There’s the anxiety that goes along with giving advice as a professional and the fear associated with receiving advice from other professionals. This topic holds great significance for me, and I’m going to be honest and vulnerable in sharing my personal struggles. My sincere intention is for my experiences to resonate with you, acknowledging and validating your own journey. I’ll offer valuable insights on seeking nonjudgmental advice, emphasizing the importance of embracing diverse perspectives, and why it’s crucial to be gentle with yourself when things don’t go as planned while also celebrating moments of success and growth.

In today’s episode, you'll find out:

A quick note about student loan payments restarting on October 1
The anxiety of giving (and getting) professional advice
The one thing to look for before getting advice from someone
How to manage the stress that comes from giving advice to people
My personal experiences with the burden of providing advice professionally
Why I thought I pointed student loan borrowers in the wrong direction
The importance of long-term thinking when facing short-term setbacks
Why business owners in various industries struggled with hiring decisions
How to handle crisis situations seriously and the importance of seeking help
Why asking for advice and being open to feedback is crucial, even when it requires going against the grain
My personal approach to managing difficult situations as a professional
Why it’s never too late to get the right advice

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The Importance of Being Your Own Advocate in Student Loan Repayment Jun 13, 2023

Join our very own seasoned experts, Meagan McGuire, CSLP®, and Lauryn Williams, CFP®, CSLP®, for an in-depth discussion of student loans. They explore the pitfalls of private student loans, the advantages of refinancing, and the importance of thorough research to avoid scams. You’ll be inspired by success stories from our clients, including one borrower who saved $80,000 of student loan debt and turned it into a down payment on a home. You’ll get the latest updates as Meagan and Lauryn discuss the new repayment plan that's on the brink of approval, how it could impact borrowers, and why rushing to consolidate loans before a refund could be a mistake. If you’re dealing with student loan debt, you don’t want to miss this episode!

In today’s episode, you'll find out:

About the risks and potential high-interest rates with private student loans for undergraduates
The process and benefits of refinancing private student loans after graduation
The importance of researching to find reputable refinancing companies
How retirement planning and HSAs can help manage student loan debt
An inspiring story of a client who saved $80,000 on student loan debt
How consolidating loans can provide a lot of flexibility and potentially be a game-changer in managing student loan debt
When and why to consider refinancing private student loans
When to start the consolidation process and why you should wait if expecting a refund
The challenges of securing refunds from student loan servicers
Potential drawbacks and "loopholes" of the new repayment plan proposal
How advice around refinancing may change due to the new repayment plan
How Public Service Loan Forgiveness (PSLF) could potentially alter your loan repayment scenario

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We Know When the Pause Will End Jun 06, 2023

The student loan pause is coming to an end. It’s been more than three years since borrowers had to make payments, but the debt ceiling bill included a provision that President Biden couldn’t extend the pause past August. I’ll discuss the politics behind this decision and how it may affect voters in key states. Additionally, I’ll explore the potential benefits of the upcoming Income-Driven Repayment (IDR) plan and provide insight into navigating student loan repayment and evaluating refinancing options once interest resumes.

In today’s episode, you'll find out:

When the student loan pause is ending
The provision in the debt ceiling bill that prevents President Biden from extending the student loan pause past August
When the Department of Education will instruct student loan servicers to resume repayments
The importance of the activist group on student loan debt within the Democratic Party
Why Biden needs young progressive voters to turn out in the next election
What Biden got in exchange for giving up the end of the pause on student loan payments that Republicans missed out on
What borrowers can do to prepare for the end of the student loan pause
Whether or not you should refinance your loans when the interest resumes
Details about the new Income-Driven Repayment (IDR) plan, including low payments and 20-year forgiveness for borrowers with modest balances
When to expect the release of final regulations for the new repayment plan

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Demystifying Life Insurance Myths with Rob Bertman and Lauryn Williams May 30, 2023

The topic of life insurance has so many nuances that even people who already own policies find it confusing. Lauryn Williams, CFP®, CSLP®, and Rob Bertman, CFA, CFP®, discuss the complexities of life insurance and how it can be misused to exploit people. You’ll hear anecdotes of people who have invested in whole life insurance policies with high fees and low returns, sometimes being sold on the idea of building wealth by unscrupulous salespeople. The dynamic duo also shares how reputable financial advisors and investment options are more accessible and affordable than ever before. Finally, you’ll learn the importance of life insurance as a necessary product for catastrophic loss and ongoing support to safeguard your dependents.

In today’s episode, you'll find out:

The myths surrounding whole life insurance
The problem with commissions in whole life insurance investments
Why people with lower income levels are often taken advantage of through financial schemes
Why knowing if you’re being sold something will help you build wealth or prevent you from building wealth is crucial
How lack of knowledge about insurance policies can be harmful
Rob’s analysis of whole life policies and permanent insurance policies
The fallacy in the way whole life insurance is sold
Better ways to invest money than whole life insurance, especially in your 20s when you're in your prime wealth-building years
Why you need a “full financial picture advisor” instead of an insurance salesperson
The continued need for life insurance, especially when you're young

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Navigating the Maze: Insights into Student Loan Forbearance, Recertification, and Forgiveness May 23, 2023

This episode is packed with essential information to help you stay on top of your student loan game. Meagan McGuire, CSLP®, and Lauryn Williams, CFP®, CSLP®, are here to discuss everything from navigating forbearance and disputing inaccuracies in your payment history to the double consolidation loophole and updates on the PSLF tracker. You'll hear tips on maximizing loan forgiveness and which channels to use to contact MOHELA and Nelnet. Plus, you’ll get updates on the Student Aid portal and a client’s experience disputing administrative forbearance.

In today’s episode, you'll find out:

What is the period for recertification and how often does it occur
How common it is to be put into forbearance during the recertification process
Can borrowers dispute administrative forbearance
The best way to dispute forbearance with your loan servicer
How payment history before consolidation counts toward your forgiveness timeline
How the account adjustment of the IDR Waiver can help you find extra payment credits
The best way to contact MOHELA to ask about payment history and forgiveness
How to use the reconsideration request form to get faster processing
How to dispute inaccuracies in your payment history
When the PSLF tracker will be available

Links mentioned:

StudentAid.gov Reconsideration request form PSLF Help Tool

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The Debt Ceiling Could Pose Big Risks to Borrowers May 16, 2023

The U.S. has a massive student loan debt problem, with $144 billion eligible for forgiveness. The new numbers show that $42 billion have already been forgiven, but Republicans are seeking to block further student loan forgiveness and a new repayment plan due to the raging debt ceiling battle — ultimately putting borrowers at risk. I also discuss the potential impact of Biden’s record-low approval rating, how he can secure support from younger voters on issues like student loan forgiveness, and the role of the Supreme Court case in reaching a compromise on the debt ceiling.

In today’s episode, you'll find out:

The impact of the debt ceiling on student loan borrowers
New numbers related to PSLF and income-driven repayment
How Biden's record low approval rating and opposition within the Democratic party affect his strategy
The increase in forgiven debt due to forbearance and deferment, and its potential to benefit public servants
The benefits of the IDR waiver for borrowers
How consolidating loans unnecessarily can cost you more in the long run
The role of progressive activists and controversial social media memes in shaping the student loan debate
The Republican Party's lack of understanding of progressive student loan policies
Why the potential delay in the debt ceiling impacts student loan borrowers as Biden awaits the Supreme Court's decision
The resilience of forgiveness programs against lawsuits from opponents
Why you need to understand different deferment types to ensure eligibility for waivers before consolidating debt
Why getting help or scheduling a follow-up consultation is crucial for borrowers with significant student loan debt
The outcome of the Supreme Court decision and its implications

Links mentioned: Send Student Loan Planner a voicemail

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Student Debt Across the Generations May 09, 2023

With millions of individuals burdened by student loan debt for two decades or more, the Income-Driven Repayment (IDR) waiver has the potential to offer much-needed relief. However, it may also morph into a significant political issue as a substantial number of older voters struggle with loan repayments. In this discussion, I examine the questionable financial choices made by colleges, such as allocating large budgets for non-essential expenses, and delve into the increasingly lavish nature of higher education costs, such as the growing focus on luxury amenities rather than educational quality. I also explore the amount of long-term student loan debt and the profound impact it has on the lives of many Americans.

In today’s episode, you'll find out:

How the IDR waiver can potentially reform bankruptcy regulations for student loan debt
The probability of a student loan tax bomb impacting borrowers in 2030
Factors contributing to rising college costs
The shift towards upscale amenities and programs in higher education to attract students
The government's role in student loan debt and its evolution as a political issue
The societal impact of the Grad PLUS program
Predominant methods Americans use to finance higher education
The average age of student loan borrowers
The amount of student loan debt held by borrowers and why they hold it for so long

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The $3 Mentality and Long-Term Financial Planning May 02, 2023

Are you struggling with student loan repayments and how it fits into your financial goals? Lauryn Williams, CFP®, CSLP®, and Meagan McGuire, CSLP®, have joined forces to share valuable insights on how to avoid common student loan repayment mistakes in long-term financial planning.

They discuss how many people are unknowingly on the wrong repayment plan, and why income-based repayment might not actually be the best option for you. They also share practical tips for finding savings beyond student loans, strategies for investing, and their take on the $30,000 and $3 mindset.

In today’s episode, you'll find out:

What is the $3 mentality and how it impacts long-term financial goals
The importance of choosing the right repayment plan for your circumstances
What is the best way to select a repayment plan for student loans
How married couples can save money on student loans and taxes
Tips on paying down credit card debt efficiently
When it makes sense to seek financial consultation
Why many borrowers shouldn’t have ignored student loans during COVID
Why the double consolidation loophole shouldn’t exist
What is the $30,000 mindset for finances
Financial implications of renting vs. buying a home
What are some basic investment strategies

Resource mentioned

PSLF Help Tool

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The IDR Waiver FAQ is Here! Apr 25, 2023

After what feels like an eternity of waiting, the IDR waiver FAQ has finally arrived. The Department of Education finally released answers to the questions plaguing borrowers’ minds since the program was first announced. It’s way more complex than the now-expired PSLF waiver, so there’s a lot to cover. I’ll take you through all the important details, including what counts towards time in repayment, the benefits and potential drawbacks of consolidation, and how the IDR waiver can impact your eligibility for forgiveness.

In today’s episode, you'll find out:

The difference between the IDR and PSLF waiver, and which one is more complex
Why the Department of Education is prone to making mistakes
Why consolidating loans can be risky
Whether President Biden would veto any legislation aimed at blocking the IDR waiver
How the IDR waiver impacts borrowers based on time in repayment, deferment, forbearance, and repayment plans
The potential cost of the IDR waiver to the Biden administration
Why you should be cautious with consolidating loans if you have PSLF repayment
The impact of Senator Warren's letter on loan forgiveness for millions of borrowers
President Biden's stance on the IDR waiver and the potential FFEL legal concerns
How consolidating loans can help PSLF borrowers get even more credit
How ongoing developments may affect consultant availability for the IDR waiver FAQ

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Navigating Public Service Loan Forgiveness: Cases, Nuances, and Updates Apr 18, 2023

Meagan McGuire, CSLP®, and Lauryn Williams, CFP®, are here to help you navigate the latest changes and updates to student loans. They start with an inspiring story of a father who shouldered his children's education debts with a Parent Plus loan, only to discover that recent changes now allow forgiveness.

Plus, they reveal how the COVID forbearance measure has made Public Service Loan Forgiveness (PSLF) even more advantageous, with a three-year credit towards loan forgiveness. The two share expert tips on repayment plan combinations, navigating community property state laws, and leveraging the latest PSLF Help Tool developments.

You’ll also see how Parent Plus loan borrowers can pursue loan forgiveness, even if you thought it was impossible.

In today’s episode, you'll find out:

There is no clear language on the technical implementation of the IDR waiver yet
A case study on whether to consolidate an undergrad loan to get closer to PSLF forgiveness
How the standard ten-year plan compares to PSLF for Parent Plus loans
How the new IDR waiver allows credit for unconsolidated Parent Plus loans towards PSLF
A big update on how to submit an employment certification form for payment count
How spouses can maximize income-driven forgiveness by filing taxes separately
The importance of using different repayment plans in different situations
A case study strategy to lower payments using the double debt loophole
The impact of state community property laws on student loan repayment
How the new REPAYE plan could change repayment strategies for couples
Which loans are (and are not) eligible for refunds

Resource mentioned:

PSLF Help Tool

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Could Forgiven Debt Get Reinstated? Apr 11, 2023

The Supreme Court's decision on the student loan cancellation case will have a profound impact on the Biden administration and on the implementation of the new REPAYE plan. I’m exploring that and giving updates on recent developments, such as a federal judge dismissing a case alleging racial motive for student debt cancellation and the introduction of a congressional resolution to stop cancellation and waiver programs. Additionally, I explore issues with the Department of Education's implementation and communication, the increasing resemblance of student loans to income tax, and the importance of considering federal loans when financing education.

In today’s episode, you'll find out:

Potential outcomes of the Supreme Court ruling on student loan cancellation
How a lack of final rules and staff may delay the new REPAYE plan
How case alleging discriminatory motivations for student debt cancellation was dismissed
A warning to Biden administration about legal strategies to justify debt cancellation
How to get disability insurance and discounts from Student Loan Planner
Updates to congressional resolution to stop cancellation and waiver programs for student debt
The possibility of debt reinstatement through joint resolution
Political implications of student loan forgiveness and the IDR waiver
How the Department of Education's policies and communication are flawed
Details and potential challenges of the upcoming end to the student loan pause
Importance of considering federal loans when financing education

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How Congress Could End the Student Loan Pause and Cancellation Apr 04, 2023

In this episode, I’m diving into some PSLF regulations that specifically affect physicians in California and Texas. Many of them work for for-profit companies that serve nonprofit hospitals, and the new rules coming out in July 2023 could have a big impact on PSLF eligibility. Next up is another listener's situation regarding consolidating Parent Plus Loans with graduate school debt. We'll also be covering some Parent Plus strategies that can be beneficial for parents.

I’ll also be jumping into the exciting world of Congress and their possible plan to repeal the student loan pause and cancellation. Don't worry, I'll break down what this means for borrowers and what happens when President Biden blocks it. Plus, we'll explore the Congressional Review Act and some juicy details of the ongoing student loan lawsuits.

In today’s episode, you'll find out:

The new PSLF regulations that come out in July 2023 that could change student loan repayment strategies for physicians in California and Texas
When you should consolidate Parent Plus Loans with graduate loans and when to keep them separate
Who the Parent Plus Loan strategy works the best for
How Congress might end the student loan pause and student loan cancellation
Why some senators might vote against the cancellation and IDR programs
The chances that President Biden could veto the bill to end the programs
An update on the Supreme Court's ruling on the student loan cancellation plan
When I think they’ll really end the student loan payment pause
Why student loan borrowers can still benefit, despite the uncertainty

Links mentioned:

Consolidate your federal student loans

How is the PSLF waiver going? Mar 28, 2023

Join me in this episode as we delve into the PSLF waiver report card. While I'm thrilled to see a growing number of individuals in our community receive forgiveness through the PSLF waiver, the low 20% success rate highlights the confusion borrowers face in determining where to apply and which loans to consolidate.

I'll then draw a comparison between the PSLF waiver and the student loan forgiveness initiative, which boasted a much higher 60% take-up rate and a simplified application process.

Finally, we'll assess the successes and disappointments of the Biden administration's student loan relief initiatives to date.

In today’s episode, you'll find out:

The confusion among borrowers that led to the low success rate of the PSLF waiver
Why student loan debt cancellation faced legal challenges, but the PSLF waiver did not
How the PSLF waiver widened the racial wealth gap
The difference between PSLF and IDR waiver
The biggest determining factor on the success of the IDR adjustment
Why the student loan cancelation plan is entirely political
The importance of the 12/36 rule
What it takes to get transformational savings on your student loans
How modifying an existing income-based repayment plan can be dangerous

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Check out our refinancing bonuses we negotiated
Book your custom student loan plan

Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

How the Silicon Valley Bank Collapse Impacts Student Loans Mar 21, 2023

Hold onto your hats folks, because we're diving headfirst into the Silicon Valley Bank failure. I will explain why the government intervened when they did and what they did to combat the rising panic in the banking industry. I’ll also explore the potential implications of this failure on interest rates for mortgages and student loans, and why it’s important for you to stay informed. Additionally, I will share my analysis of the government's potential strategy on student loan forgiveness, and the reasons behind the denial of some Parent PLUS consolidation applications. So sit back, relax, and join me as we dive in.

In today’s episode, you'll find out:

What is the Silicon Valley Bank (SVB) and why is it important
Why SVB failed
What a “bank run” is and why it’s bad
What can cause a bank to fail
What the government can do to help a failing bank
Why the government stepped in when it did during the SVB failing
How SVB failing can affect you as a consumer
How the failure of SVB can lead to changes in interest rates and affect loans and mortgages
Why the federal government may put a longer pause on student loan repayments
Why Parent PLUS consolidation applications may be getting denied more often
What the Parent PLUS consolidation loophole is

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Book your custom student loan plan

Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Sofi Sues To End The Student Loan Pause Mar 14, 2023

On Friday, March 3rd 2023, private student loan company SoFi filed a lawsuit against the U.S. Department of Education, hoping to overturn the most recent payment pause extension.

SoFi, a private student loan company known for its partnership with the LA Rams stadium, has seen a drastic 90% drop in revenue due to the COVID pause, and they’ve decided to take action against it now. What does this mean for you? Check out this episode as I discuss this controversial topic and what you can do now to prepare for the upcoming weeks.

In today’s episode, you'll find out:

A disclosure statement about SoFi and MOHELA
Why SoFi is suing now over the Heroes Act
SoFi’s recent quarterly results
A possible reason for the actions of the Heroes Act legal team
How this lawsuit will affect you
Will this affect the new student loan repayment plan
SoFi’s motivation and one way the Biden administration could respond
Why we need the IDR Waiver FAQ now
How to prepare for the next six weeks

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Check out our refinancing bonuses we negotiated
Book your custom student loan plan

Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Avoid the Siren Songs of Student Loans Mar 07, 2023

Student loans are a huge source of anxiety for many borrowers. Wondering how you’ll pay them off can feel like a weight that you have to carry around, which has led to lots of folks making unsound or unnecessary financial decisions. It’s what I call the “siren songs of student loans.” When you think back to Greek mythology, there were sirens that lured sailors to their death with their beautiful songs. Student loans can also have “siren songs” that can lure us into making big mistakes that impact our future wealth growth. In this week’s episode, I’m talking about how you can avoid the seven most common siren songs of the student loan world and why student loans shouldn't stop you from living your best life.

In today’s episode, you'll find out:

Why focusing on the interest rate above all else is a mistake
How to avoid only seeking out PSLF-eligible jobs
You don’t need to fixate on student loan repayment assistance
How to take on additional debt for school – the right way
Why NOT to pay for school with cash
The “false idol” of debt-free hustle culture
Why you should consider leaving a job you hate, even if you still have loans

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Check out our refinancing bonuses we negotiated
Book your custom student loan plan

Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Emergency Pod on the Supreme Court Case Mar 02, 2023

Breaking news on the Supreme Court Case

What Comes After the Student Loan Cancellation Lawsuit Feb 28, 2023

Listen in as Meagan McGuire, CSLP®, and Dan Rooker, CFP®, CSLP®, share the results of the Supreme Court case on cancellation… just kidding. While we'd love to dive into how the case plays out, we recorded this episode prior to the verdict. But don't worry, we've got plenty of other valuable insights to share.

We’re taking a closer look at the new Revised Pay As You Earn plan, commonly referred to as the "new REPAYE," and assessing whether it's a good fit for you. Plus, over the past few years, student loan freezes have influenced how people file taxes. How does the situation you’re in now impact how you should file for 2022? Things will continue to change with the results of the most recent Supreme Court case coming out, but there are still plenty of ways to plan how you’re going to file for this year.

Then, we’ll discuss some of the nuances that are affecting student loan borrowers right now, loan consolidation, and as always, we'll be sharing some intriguing stories from our email inbox.

In today’s episode, you'll find out:

The results of the Supreme Court case on cancellation…jk jk
If new REPAYE is a good plan for you
1098-E tax form nuances with consolidations
Whether married couples should file 2022 taxes together or separately
Impacts of filing separately for income-driven repayment
The tax deduction for federal student loan interest during the freeze
Delays on loan forgiveness with the PSLF waiver
Information on consolidating your loans
How address changes impact your double consolidation paperwork
Consolidation with respect to the LDR waiver
Email inbox storytime

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Intentional Budgeting: Spend Sustainably Without Sacrificing Your Dream Life Feb 21, 2023

Student loans payments will likely kick back in sometime in 2023, so now is the time to reevaluate your spending and saving habits. Are you truly living the life you want to live? How do YOU define your own success?

Today, Meagan McGuire, CSLP®, and Lauryn Williams, CFP®, CSLP®, discuss how to change your budget so that it’s working for you. And no, they aren’t going to tell you to quit eating at restaurants or supporting your local coffee shop! This episode is all about how you can adjust your life right now to spend your money on the things that actually matter and bring you joy. No matter what your goals are, it’s always the right time to invest in you. So let’s dive in!

In today’s episode, you'll find out:

Intentional spending and budgeting
How to align your spending with your values
How to prioritize your spending
How to say “no” to things that aren’t aligned with your goals
The importance of supporting small businesses
Different ways to support small business owners
The differences in how you feel when you use credit or debit cards, or cash
How to invest in a socially responsible way
How to donate your time or money to important causes without sacrificing your needs
Questions to ask yourself before making a budget

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Check out our refinancing bonuses we negotiated
Book your custom student loan plan

Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Free College for Everyone with New IDR Feb 14, 2023

Keeping up with how student debt is changing in this country can be a headache. That’s why I want to help you figure out how to use the existing system to your benefit right now in ways that could be life-changing.

Today, I’m answering quite a few listener questions — lots of our listeners had Parent PLUS Loans on their minds, and maybe you do, too. Then, I dive into the Biden Plan for “free public college,” which may not be exactly what it sounds like, but you could still massively benefit if you set up a plan that uses your current situation to your benefit.

In today’s episode, you'll find out:

What is the double consolidation loophole Advice on Parent PLUS Loans for parents
Does the advice apply to private student loans
If you should continue with the loophole method
How to navigate student loan repayment as things continue to change
Whether you should file your taxes separately or joint-file
How much the new tax plan could cost
Biden’s plan for “free public college” and how to use it to your advantage
How to provide an inheritance to your kids
How to pay back your student loans

Links mentioned:

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Feeling helpless when it comes to your student loans?

Try our free student loan calculator
Check out our refinancing bonuses we negotiated
Book your custom student loan plan

Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Grab Bag Q&A: Navigating the Student Loan Repayment Maze Feb 07, 2023

Join student loan consultants Lauryn Williams, CFP®, CSLP®, and Meagan McGuire, CSLP®, as they answer questions from clients about student loans. Learn about the revamped REPAYE plan, forgiveness timeline for undergraduate and graduate loans, and discretionary income guidelines for repayment.

They also dive into the tax implications of loan forgiveness, the difference between FFEL and Direct Loans, when the long-term benefits of federally held loans outweigh the advantages of refinancing, and more.

In today’s episode, you'll find out:

Questions about the new repayment plan
The forgiveness timeline of the new REPAYE plan
When to save up for the tax liability to get ahead of the game
How the option of married-filing-separately could be impacted
Why you don’t need to have a tax return to calculate your payment
What you need to know if you feel like you're the only one making student loan payments
How to get help with student debt
Why you may need a student loan consultation even if you think you don't
How do you go about the double consolidation on timing
When can you start preparing for the double consolidation
What to do if you’ve been laid off
How to get your money back if you’ve been making student loan payments during the payment pause

Link mentioned:

StudentAid.gov

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Optimizing Your Finances: Do's and Don'ts for Reaching Financial Goals Jan 31, 2023

You can optimize your finances in many ways. To reach your goals, there are some things you need to do, but others you should avoid. If you don’t want to look back at the end of the year and say, “I wish I would have done that…”, this podcast is for you. Join Lauryn Williams, CFP®, CSLP®, and Meagan McGuire, CSLP®, as they talk about how to ditch misconceptions that can mess up your whole year, the right moves to overcome challenges and how to make 2023 your best financial year.

In today’s episode, you'll find out:

Why you should book a consultation even if you don’t think you need it
What is the new Pay As You Earn plan
Why you might need to enroll in PAYE right now
Why budgeting isn’t the ‘big bad B word’
How to budget your expenses to save more and maximize your paycheck
When you should never leave a balance on your credit card
The first line of defense when dealing with or avoiding debt
How a budget can help you avoid identity theft or credit card fraud
The biggest mistake people make in 2023
The importance of estate planning documents
Why you need life insurance and disability insurance to protect your family and finances
Why you should add money to your 401(k) even if your employer doesn’t match it
The top retirement and investing mistakes to avoid
How retirement saving can lower your student loan payments

Link mentioned: Find a doctor mortgage lender

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Book your custom student loan plan

Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

New REPAYE Plan: What it Means and Why it's a Game Changer for Borrowers Jan 24, 2023

Exciting news for student loan borrowers! The new REPAYE plan proposed by President Biden aims to simplify the existing plan and offer more benefits to borrowers. It’s an earth-shattering moment in higher education. A few highlights include being able to file separately for taxes (if you’re married), qualifying for interest subsidies of 100%, and getting a 225% poverty line deduction to lower student loan payments. I’m diving into the nitty gritty details to help you understand how this plan may impact you.

In today’s episode, you'll find out:

What is the new repayment plan
The ins and outs of the family size deduction
Who can access the new income-based repayment plan
Why the new repayment plan is vital for borrowers
Why you need to figure out if PAYE is right for you right now
How the Biden Administration modifies the income-driven plan
The impact of the changes on student loan borrowers
How many borrowers could pay $100 or less on their student loans
How we’ll serve this new group of borrowers who needs our advice
Will the IDR plan be implemented
What to do if you need to apply for a student loan forgiveness waiver
What to expect next from student loans

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Feeling helpless when it comes to your student loans?

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

How the Modified REPAYE Plan Could Cut Student Loan Payments In Half for Millions of Borrowers Jan 17, 2023

The Biden Administration announced a new income-driven repayment plan that can significantly benefit millions of student loan borrowers. Student Loan Advisors Meagan McGuire, CSLP®, and Conor Mahlmann, CSLP®, discuss the revamped REPAYE plan that was recently proposed.

Find out how the modified plan increases the poverty line deduction and provides interest subsidies to lower payments for anyone on income-driven plans. Whether you have undergraduate or graduate loans, you’ll learn the mechanics of how the plan calculates payments and how it could affect you. Meagan and Connor also note that the plan is still in the commenting period and may be subject to changes.

In today’s episode, you'll find out:

The new plan isn’t really a new plan at all
The basics of the proposed modifications to the REPAYE plan
How the increase in poverty line deduction can instantly lower your monthly payments
The role of adjusted gross income (AGI) in calculating your payment amount
The interest subsidy that can cut your payment amount
How it impacts couples who file taxes as married filing separately
The biggest differences between the old REPAYE plan and the new REPAYE plan
Why switching to PAYE down the line might not be an option
What is double consolidation and why it makes sense for some borrowers
How consolidation of forgiveness credit works
When PAYE is best vs. the new revamped plan
What to watch for with the IDR Waiver

51 Ways to Save $1,000 in 2023 and Start Investing Bigtime Jan 09, 2023

I’ve got a very special show for you today. I’ll share how to put more money in your pocket to allow you to invest.

Whether you’re just getting started investing for the first time or you want to significantly ramp up your investing, I’ll walk you through how to get to financial freedom faster than you ever dreamed possible. I’ll also tell you how to get our flagship investing course, Six Figure Debt to Six Figure Net Worth, at a 70% discount.

In today’s episode, you'll find out:

How to get started with investing if you’re not sure what to do
New concepts and thoughts to take investing to the next level
How to save tons of money and get to a passive income faster
How to get control over the most important asset – your time
The big 401(k) account balance deduction limit changes in 2023
How to lower your tax liability at the end of the year
Why you shouldn’t report an accident to your insurance company if you’re not filing a claim
Why you might want to avoid insurance companies with “mutual” in the name
When you should move some of your checking account money to your savings account
The importance of asking for three estimates on a project
How to set up a better retirement account
The role of tax loss harvesting in investing
How to mix stocks and bonds together and what kinds of funds to put in each
How to save 70% on Student Loan Planner®’s flagship investing course

Link mentioned:

Six-Figure Debt to Six-Figure Net Worth

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Book your custom student loan plan

Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

How to Become Wealthy and Reach Financial Independence Faster This Year Jan 03, 2023

If we knew what was going to happen in 2023, we could position our portfolios for maximum growth. But you don’t need to do that. There are some really great things going on with the investment climate. Combine that with the superpower you’ve got with your education and degree, and you can secure more financial freedom and choices for your family. You can’t predict the future, but you can take steps to make 2023 a year of explosive wealth growth for you.

In today’s episode, you'll find out:

What is the superpower you have with your education and degree
The circumstances around the last time we had inflation take off around 1968
Are we going to have a recession in 2023
Why inflation might not be good, even if you’re a student loan debt holder
The importance of diversification
What happens if you have low interest rates vs. high interest rates
What’s going on in investing right now
How professional degrees are more protected from the economy than bachelor’s degrees
Some risks you might see in 2023
Whether you can continue to invest at the same level you were before
How to achieve outrageous financial success in the new year

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Feeling helpless when it comes to your student loans?

Try our free student loan calculator
Check out our refinancing bonuses we negotiated
Book your custom student loan plan

Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Where to Keep Your Money in 2023: A Guide for Student Loan Borrowers Dec 27, 2022

For many student loan borrowers, saving money can be daunting. Knowing how to save and where to put your hard-earned money can be a difficult decision to make. Student Loan Advisors Dan Rooker, CFP®, CSLP®, and Ben Lacomis, CSLP®, are here to help you make the best financial decisions. Here’s a sneak peek into savings rates, updated savings and contribution rates for retirement accounts, and other common savings buckets to watch for, as well as examples of where you could save in 2023.

In today’s episode, you'll find out:

The average savings rate in 2020 and why it was so high
What Dan and Ben are looking forward to next year
How Dan is approaching travel in 2023
Ben’s focus on financial planning and growth in 2023
How to calculate your savings rate with student loan debt
About the net worth calculator in our Student Loan Calculator spreadsheet
The best place to put your money in 2023
Savings caps for retirement, health-related savings, and education savings
401(k), 403(b) and 457 plan maximums for next year
What is a health savings account (HSA)
HSA savings caps for next year
Why HSAs are the Holy Grail of investment accounts
How the Secure 2.0 Act can help employees save for retirement
How income-driven repayment (IDR) plans can improve your net worth
When to recertify your income if you’re on an IDR plan
Why borrowers with Direct Loans can hold off on recertifying for now

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Unwrapping the Gift of Education from Parent PLUS Loans Dec 20, 2022

The holidays are a great time to think about the gift of education. For all the parents who have borrowed on behalf of their children to ensure they had an education, we want to give you a round of applause. Parent PLUS loans can add a layer of financial stress. Senior Student Loan Advisors Lauryn Williams, CFP®, CSLP®, and Meagan McGuire (Landress), CSLP®, dedicate this episode to the 3.4 million borrowers of Parent PLUS loans. Whether you’re a parent with Parent PLUS loans or you’re a student and your parents have Parent PLUS loans, this episode is for you.

In today’s episode, you'll find out:

How 529 plan contributions make a great holiday gift
The average Parent PLUS loan balance per borrower
How double consolidation could have qualified Parent PLUS loans for the PSLF Waiver
Repayment options for Parent PLUS loans, including PSLF
Who’s responsible for repaying Parent PLUS loans
Can you transfer the Parent PLUS loan to your child
What interest rates are usually available for Parent PLUS loans
Why Parent PLUS loans are best suited for middle-class families
The application process for Parent PLUS loans
How a pre-debt consultation can help you avoid painful student loan repayments after graduation
How community property states treat Parent PLUS loans and why where you live matters for future planning
When do student loan payments begin for Parent PLUS loans
When should you start paying off your student loans
The four different repayment plans available under the income-driven umbrella
How Parent PLUS loan borrowing works if you have multiple children

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Book your custom student loan plan

Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Top Student Loan Questions and Answers Dec 13, 2022

Student loans have been anything but predictable over the past three years. The changes have raised many questions, but we have the answers! Join top student loan experts Meagan McGuire (Landress), CSLP®, and Sim Terwilliger, CFP®, CSLP®, as they take a deep dive into the questions they’re seeing right now. Their combined insight and expertise can help you get the most out of the payment pause, refunds, payment count updates, forgiveness, and changes coming down the line.

In today’s episode, you'll find out:

Does working 70% full-time count for PSLF
PSLF changes to expect in July
How to get a refund on student loans
Has anyone actually gotten a refund for overpayment
How long does it take to get a payment count update
What to look out for if you think your loans are forgiven, but you aren’t sure
Best case and worst case scenarios for FFEL considerations
Does forgiveness have any impact on your credit
The importance of reframing your student loan payment as a tax

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Year-End Financial Checklist for 2022: Tax Tips, Student Loan Repayment, Investing, and More Dec 06, 2022

Reviewing and assessing your progress over the last year can help to keep you on track to reach your goals. But what exactly should you do? Finish the year strong and set yourself up for success in 2023 with these key money moves from Senior Student Loan Advisors Lauryn Williams, CFP®, CSLP®, and Meagan McGuire (Landress), CSLP®.

In today’s episode, you'll find out:

How to fix your Roth IRA if you’ve been filing taxes separately
Why you can’t have outstanding pre-tax accounts in your Roth IRA (or backdoor Roth IRA)
How an HSA can lower your student loan payment and fuel your retirement savings
How to use income-driven repayment plans to lower your student loan payment
When you should amend your tax return
Why you shouldn’t wait until the last minute to book a consult or file taxes
How to take advantage of some uncertainties in the system
What to do if you’ve got a lot of cash laying around
Steps to take if you’re waiting for the tax-free loan cancellation
Whether you’ll have tax liability under the new student loan repayment plan

Links mentioned:

I Bond from Treasury Direct Student Loan Tax Experts

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Book your custom student loan plan

Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

The Backdoor PSLF Waiver and Payment Pause Extension Explained Nov 29, 2022

Why the PSLF waiver (that expired last month) isn’t really over and the confusing extension to the student loan payment pause are just two recent developments that continue to unfold around student loans. Senior Student Loan Advisors Rob Bertman, CFA, CFP®, and Meagan McGuire (Landress), CSLP®, as well as Student Loan Advisor Sim Terwilliger, CFP®, CSLP®, will walk you through the latest updates that can make or break your student loan repayment plan.

In today’s episode, you'll find out:

Why the PSLF waiver isn’t really over
The latest extension to the payment freeze
What it means to extend the payment pause to 60 days after relief is granted
How the delayed payments impact federal student loans
How the IDR waiver came about
PSLF eligibility under the IDR waiver
How to know if you qualify for longer-term forgiveness
What to expect in July 2023 for PSLF
The PSLF changes that take effect July 1, 2023, and why there’s no retroactive credit
The impact of consolidating direct loans when working in public service
How the weight average payment count will be calculated
Why the payment pause is coming at the perfect time

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Revenge of the Judges: What Borrowers Can Expect After the Texas Ruling Nov 22, 2022

Since March 2020, the student loan pause started a trend of more generosity for borrowers — more generous programs, IDR plans, waivers, PSLF rules and more. But the past couple of weeks have seen judges strike back against many of the student loan initiatives. Learn how a federal judge in Texas struck down the entire student loan cancellation program, how borrowers can benefit from some of the options still out there for student loans, and student loan changes we might see in 2023.

In today’s episode, you'll find out:

How a federal judge in Texas struck down the entire student loan cancellation program
What fueled the attack in the Texas cancellation case
The major questions doctrine and how it applies here
The impact of the Texas ruling on the student loan payment pause
Why student loan payments might not resume in January
New rules for bankruptcy and student loans

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Student Loan Cancellation Is Blocked. Now What? Nov 15, 2022

A Texas judge blocked student loan cancellation, effectively stopping it in its tracks. Plus, the midterm elections will have an enormous impact on student loans going forward. Between these two events, you could feel the effects even if you wouldn’t benefit from cancellation specifically. I’m diving into the student loan lawsuits, the temporary pause on student loan cancellation, and what will happen when student loan payments resume.

In today’s episode, you'll find out:

Why the Texas lawsuit that blocked student loan cancellation caught many by surprise
What happened with the midterms and how it can change student loans going forward
Why the Eighth Circuit didn’t rule on the lawsuit before the midterm elections
How the injunction helped the Texas lawsuit gain traction
Why there’s a temporary pause on student loan cancellation
How the lawsuit gained standing to allow the judge to rule on merit
Why more groups and private entities haven’t sued over the student loan relief measure
How much will student loan defaults spike when payments resume
How hard do you go on these programs?
Different options the Biden Administration is looking at for student loan forgiveness
What the new IDR plan will look like based on the draft release of the rules
What’s going on with student loan relief

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Could the New IDR Plan Be Delayed? (Plus Top Listener Questions Answered) Nov 08, 2022

The new IBR plan is supposed to be available by July 2023, but it might not happen as promised. I’m diving into what’s causing the delay that could push it out until late 2023 or even July 2024. There are also hot developments going on with student loan cancellation, and I’m sharing new strategies coming down the pipeline based on recent announcements. Plus, I’m taking some listener questions. We’ve got a lot to cover… are you ready?

In today’s episode, you'll find out:

Why commercially-held FFEL loans don’t qualify for Biden’s cancellation
The easiest path for someone to sue to block Biden’s student loan cancellation plan
When you should NOT apply for the $20,000 cancellation
Why the new IBR plan is being delayed and what it means for borrowers
When will the new IBR plan be available
New strategies for residency and fellowship
Best advice for residents and fellows who are single
What to do if you’re working for a not-for-profit employer
How deferment and forbearance can count in certain cases for PSLF
My thoughts about the lawsuit: Do state attorneys general have standing to sue
What I think will happen after the election

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Urgent Student Loan Updates for Borrowers Nov 01, 2022

A brand-new set of rules came out, and I’m diving into these urgent student loan updates to give you the inside track of how it can benefit you. It impacts a narrow group of people, but if you’re affected, these most recent changes could be life changing.

In today’s episode, you'll find out:

The new rules for the PSLF program that benefits contractors working for PSLF-eligible organizations
How Kaiser Permanente physicians can qualify for PSLF
What hold-harmless provisions mean for getting credit during deferment or forbearance
Decisions people in residency and fellowship must consider to maximize student loans
How to get a second shot at the PSLF waiver
The importance of consolidating your loans by May 1, 2023
Why the IDR waiver matters for loans before 2010
Updates on the student loan cancellation lawsuit
The strategy being used to block student loan cancellation
Cancellation lawsuits vs. non-partisan arguments
What’s the long-term impact of these student loan changes
Could a future president roll back these changes
Why you shouldn’t stress if you refinanced your student loan
Why focusing on growing wealth can help you be excited about your financial future

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

How to Get Last-Minute Credit Added to Your PSLF Payment Count Oct 24, 2022

You only have until October 31, 2022 to take advantage of the PSLF waiver before it expires. But it isn’t too late to apply and get credit!

Senior Student Loan Advisor Meagan Landress, CSLP®, and I did a webinar very recently on last-minute application tips for the PSLF waiver, and hundreds of borrowers were there with us. In this episode, we’re sharing the top tips from the webinar to help as many borrowers as possible get credit added to their PSLF payment count up until the last possible moment.

In today’s episode, you'll find out:

What has changed with the PSLF waiver
What should you do if you have the wrong kind of loans
How to consolidate loans for the PSLF waiver
Do you have to use the PSLF Help Tool
What to do if you can’t get a signature from your employer
What’s the timeline for the PSLF waiver
The student loan cancellation lawsuits and what it means
Whether time worked in public service before you took out loans counts
If contract work for the state or government counts towards PSLF
When you need to update your income for IDR
What are the benefits of PAYE vs. REPAYE

Links mentioned:

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Can the Student Loan Lawsuits Stop Cancellation? Oct 18, 2022

The student loan lawsuits, specifically the State of Nebraska v. Biden et al. suit against the Department of Education, are poised to slow down or stop student loan cancellation. I will cover what might happen and why it matters for many student loan borrowers out there. I also have a few random business updates to share, including how to join one of our Facebook groups and where to find resources on our site that go beyond student loan planning.

In today’s episode, you'll find out:

The lawsuit against the Department of Education that could stop loan cancellation
Why I think getting the hearing in front of the Eastern District of Missouri, one of the most conservative districts in the country was intentional
The importance of October 23 in student loan debt cancellation
Why I think we’ll see a super-generous IDR plan if the cancellation is blocked
How you can still take advantage of the PSLF waiver despite the looming deadline
How to join one of Student Loan Planner®’s Facebook group for Parent PLUS loan forgiveness, teachers, nurses, and other professions
Resource update: Qualify for a doctor mortgage and get a quote for disability insurance right from the site

Links mentioned:

Get help for the PSLF waiver Qualify for a physician home loan Get a quote for disability insurance

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Student Loan Cancellation and Why It’s Not Too Late to Take Advantage of the PSLF Waiver Oct 11, 2022

Meet Conor Mahlmann, CSLP®, one of our newest consultants as he joins Meagan Landress, CSLP®, and Ben Lacomis, CSLP®. Conor joined the Student Loan Planner team back in May and just hit his 300th consult.

The team is covering many topics this week — from the changes we’ve seen, the PSLF waiver, cancellations, and what we hear directly from clients. We’re also jumping into student loan updates, so there’s a lot of ground to cover.

In today’s episode, you'll find out:

How Conor got into financial planning and what attracted him to student loan planning
The most interest student loan strategy case Conor has seen (so far)
The skinny on the Biden student loan cancellation
What you need to do before October 31 to take advantage of the PSLF waiver
Why it’s not too late to benefit from the PSLF waiver
How long it takes to get your employment certification form signed
When double consolidation makes sense
What to expect from the timeline for loan forgiveness and cancellation

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Student Loan Deadlines, Forgiveness, and Must-Have Self-Care Ideas Oct 04, 2022

Student loan decision fatigue is real. With so many options, programs changes, temporary waivers, and more, there’s a lot of deadlines to keep track of. What should you be paying attention to? What are you eligible for? Where do you even start? Join me, Sim Terwilliger, CFP®, CSLP®, and Meagan Landress, CSLP®, as we review what you should be thinking about right now. We also share how some borrowers are paying it forward and the best self-care ideas to rejuvenate your mind and body.

In today’s episode, you'll find out:

Why you need to create an FSA (federal student aid) account right now
How to know if (and when!) you should consolidate student loans
How consolidation can help your PSLF payment count
Crucial student loan deadlines you need to pay attention to
When to expect a payment tracker for your IDR payment count
What the Biden forgiveness plan could mean for you
Why we’re seeing another wave of people getting PSLF forgiveness
How to pay it forward to others
The best ideas for self care to rebuild yourself
What’s coming up next for federal student loans

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

The PSLF and IDR Waivers Are Safe (For Now) Oct 03, 2022

Emergency Episode #2

Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Student Loan Relief Might Get Blocked Sep 29, 2022

6 Republican led states just filed a lawsuit to block student Ioan cancellation, but this could be much bigger and imperil the IDR waiver, the payment pause, and more.

What Democrats and Republicans are Proposing for the Future of Student Loans Sep 27, 2022

Forgiveness, cancellation, and repayment plans have seen many changes in recent months. But there’s more coming — I’m following what the Democrats and the Republicans are proposing for the future of student loans, which could have a big impact on student loans in 2023 and 2024.

Listen in as I dive into proposals and a particular bill that is likely to pass in Congress that could help out a small, but important category of student loan borrowers.

In today’s episode, you'll find out:

Listener question: Can I get a refund on payments and still qualify for $10k and $20k cancellation
What the cancellation announcement means for your student loans
How the Democrat and Republican plans can overhaul student loans
How the student loan act would drastically lower interest rates on student loans
What the republican bill means and how it could impact current and future borrowers
What would the final rule look like if it were codified
Refinancing strategies for graduate school loans

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Book your custom student loan plan

Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

When PSLF Isn’t Right For You: Why Miranda Walked Away From Forgiveness Sep 20, 2022

Some people simply aren’t suited for PSLF, and that’s okay. Student loan repayment is all about making decisions that are right for you and your family, and that’s what we’re talking about today. Join Senior Student Loan Advisor Lauryn Williams, CFP®, CSLP®, as she sits down with Miranda, a physical therapist and real, life student loan borrower who qualified for PSLF but chose to go a different route.

In today’s episode, you'll find out:

Why Miranda gave up loan forgiveness with only two years to go
What prompted Miranda to go from a physical therapist to starting her own forgiveness
Strategies Miranda uses to lower her adjusted gross income and save for retirement
Why borrowers in “the bubble” aren’t eligible for Pay As
You Earn (PAYE) and what that means for student loan repayment
How your borrowing timeline impacts your repayment plan
How the tax bomb affects your tax liability in a big way
Miranda’s thoughts about hearing the numbers behind her student loan repayment choices

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Fertility and Alternative Conception While You Have Student Loan Debt Sep 13, 2022

We like to prepare student loan borrowers for whatever life throws at you. But even the best laid plans can throw a curve ball. Sim Terwilliger, CFP®, CSLP®, and James Mwombela, CFP®, two of our newest student loan advisors, recently found themselves taking one of those unplanned detours: Challenges along the way to having a baby. Join Lauryn Williams, CFP®, CSLP®, as she talks to the team about breaking the all-too-common silence around fertility and related issues since joining, as Sim puts it, “the club that you didn’t ask to join.” We’ll cover the kinds of wealth that money can’t buy and why student loan debt should not derail your family planning plans.

In today’s episode, you'll find out:

Why you delaying having children can have very real consequences for fertility
How the journey from discovering a potential fertility problem to diagnosis and treatment can easily run to two years
How you can manage student loan debt and start planning for your family at the same time
How aggressive student loan pay-off strategies can backfire
Why you need to start advocating for yourself with billing and insurance benefits early
Hidden costs to consider that might not be covered by insurance
How setting cash aside to boost medical coverage can reduce state and federal taxable earned income.
Family planning tax strategies that can save you big money
How LGBT couples may be eligible for grants to cover adoption expenses.
What to say (and what not to say) to friends who may be trying to have a baby
How to find happiness when life doesn’t go as planned

Links related to topics mentioned:

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Student Loan Cancellation Complaints and Challenges Sep 06, 2022

The Biden Administration announced student loan cancellation, and it’s a pretty big deal. But a report was released this past week about potential lawsuits filed against the cancellation. It’s a lot to take in, but the outcome could have a huge impact on student loan borrowers.

So, I’m breaking down the impact of the cancellation, what could happen if there’s a lawsuit, and how it fits together with the PSLF Waiver and IDR Waiver.

In today’s episode, you'll find out:

If the student loan cancellation is struck down, what happens to the current student loan pause
What is the risk of a lawsuit
Why the new “Biden IDR” plan is a big deal
What the new repayment and forgiveness plan does for borrowers
How high-income earners with high student loan debt will be impacted
How will schools react to the new plan
What’s going on in the business, a personal update and special thank you to our listeners and readers

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PSLF Problem-Solving: Employment Certification, Timelines, & Reconsideration Requests Aug 30, 2022

As PSLF timing issues arise and the deadline approaches for Operation Fresh Start, it’s time to get clear on a few things... Join Meagan Landress, CSLP®, our Senior Student Loan Advisor, as she welcomes our newest Student Loan Planner consultant, Ben Lacomis, CSLP®, to the team. Let’s get to know Ben and what makes him a unique and valuable asset to the SLP community, then we’ll break down the most recent issues and questions regarding the PSLF Program and Operation Fresh Start.

In today’s episode, you'll find out:

Ben’s background & What inspired him to become Certified Student Loan Professional (CSLP®)
How Operation Fresh Start will help people with loans in default
The deadline to apply for Operation Fresh Start’s default resolution
How PSLF consolidation works
What to do if your payment count was restarted to zero
Why loan servicers (Mohela and FedLoan) are asking for a W2 alongside employment certification forms
The average timeline for PSLF and timing issues we’re seeing with the PSLF Waiver
Potential reasons why your employment certification form could get rejected
What to do if your employment certification form got rejected
Tips and advice on submitting a PSLF reconsideration request process
Will transferring from FedLoans to Mohela delay my PSLF process

Links mentioned:

Call the Default Resolution Group at 1-800-621-3115
PSLF Help Tool
PSLF Reconsideration Request Form
Join a PSLF Facebook Group by Occupation
Use our free student loan calculator
Manage Your Student Loans (studentaid.gov)

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

Emergency Pod: Biden Cancels 10k + New IDR Plan Aug 25, 2022

Read “Biden’s Student Loan Cancellation and Forgiveness Plan (Fully Updated)” on our blog at https://www.studentloanplanner.com/joe-biden-student-loan-plan

How to Optimize Your Student Loans and Finances Using Case Studies from Real Borrowers Aug 23, 2022

Our very own Lauryn Williams, CFP®, CSLP®, and Sim Terwilliger, CFP®, CSLP®, are tackling case studies of real student loan borrowers. They’re factoring in student loan balance, income, expenses, and other factors going on in their lives, giving you an inside look at how best to manage specific scenarios. The dynamic duo also answer frequently asked questions to help you better navigate your student loans.

In today’s episode, you'll find out:

What to consider when you or your spouse wants to stay at home
The best tax advantages available to nearly every borrower
What is a Roth 401(k) and how does it work
The role of community property states in student loans
How estate planning fits into your student loan plan
Why you need to certify your loans for forgiveness even if you’re moving abroad
When Total and Permanent Disabilty Discharge comes into play
Why you must save for retirement even if you don’t plan to stop working
Mental health factors to consider in financial planning
How to plan for student loans if you want to get married (or are already married)
When to throw extra money at student loans and when to save money
How to find balance with how you want to live your life

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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!

The 5 MAJOR Costs of Bad Student Loan Policy & How to Overcome Them Aug 16, 2022

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The Difference Between Financial Planners, Financial Coaches, and Sales Representatives Aug 09, 2022

Student Loan Planner’s very own Meagan Landress, CSLP®, and Sim Terwilliger, CFP®, CSLP®, sit down to discuss the differences between financial planners, financial coaches, and sales representatives. This is an important conversation that will give you more confidence and clarity when it comes to choosing the right professional to trust with your finances!

In today’s episode, you'll find out:

How planners, coaches, and sales reps overlap, and where their roles differ
What to consider when you’re being marketed insurance products
Why the CFP (Certified Financial Planner) is the gold standard designation to look for
How these different professionals are compensated (ex. fee only, fiduciary, etc.)
How to find an advisor that can specifically help you with your student loans

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Shocking Numbers about the PSLF Waiver and the IDR Waiver, Plus Special Guest Taylor from the SLP Community Aug 02, 2022

An earth-shattering report about the Public Service Loan Forgiveness (PSLF) program came out a few weeks ago by the National Bureau of Economic Research (NBER). I’m diving in and breaking it down, so you can see just how powerful the PSLF Waiver and IDR Waiver could be if more people knew about it. I’m also sitting down with Taylor, a special guest from the SLP community. As a borrower herself, Taylor’s case study illustrates who may or may not benefit from the PSLF or IDR waiver.

In today’s episode, you'll find out:

Why the PSLF report is so shocking (spoiler alert: $145 billion is eligible for immediate forgiveness, but people are missing out – especially teachers)
About $8 billion in student loans has been forgiven through the PSLF Waiver
The Income-Driven Repayment (IDR) Waiver will see billions more being forgiven, but borrowers are still waiting for that to process before seeing any tangible results
Taylor’s student loan story
How Taylor accumulated her loans while pursuing her undergrad degree
Taylor’s mix of public and private loans from grad school
What to expect from the upcoming IDR Waiver
Who is eligible for the PSLF Waiver
What holds so many teachers and counselors back from taking advantage of the Waiver
My fear about millions missing out on this opportunity
How you can do your part to spread our message to more people who need it

Link mentioned: Waivers for the Public Service Loan Forgiveness Program: Who Would Benefit from Takeup?

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Every Loan Has a Story: Private Student Loans and How They Work with Ascent CEO and Co-Founder Ken Ruggiero Jul 26, 2022

Ken Ruggiero, CEO and Co-founder of Ascent, joins me and we look at his unique journey to founding Ascent, a fintech company that applies a holistic lens to the student loan industry. It’s the kind of discussion that’s full of diverse insight into governmental policy, first-hand knowledge of the student loan industry’s long history and the reflections on the outsized power that higher education lobby wields.

Learn how Ascent has been honored by the American Bankers Association for its data- and tech-driven approach that also incorporates educational elements to advance financial literacy, life skills and career support.

You’ll also get a peek into Ken’s emphatic advice: If you’re struggling to keep up with payments, don’t go into denial. Loan providers are there to help you work it out!

In today’s episode, we’re covering:

Ken’s professional evolution within the student loan sector over the past two decades
A complex understanding of the context for FFEL loans
How student loan and FFEL restructuring made Ken step away
What events propelled Ken’s decision to re-enter the student loan market in 2017
How Ascent grew out of a desire to serve students who have no resources, no credit and no support in funding their education
Ken’s journey of Ascent’s loan portfolio performance and forbearance amidst pandemic
Why anyone would use a private student loan in today’s environment
Why private student loan companies like Ascent exist
Refinancing and whether it makes sense to renegotiate your loan, including Ken’s advice
Ken’s explanation of the finer points of Parent PLUS and Grad PLUS loans, patterns and shifts in borrowing
A back-door method of education funding that parents without resources might try
Alternatives to student loans that Ken recommends
All about Ascent’s Bright Futures Engine that integrates student loans with the preparedness and healthy financial habits for students
What is peak season and why it matters

Links mentioned:

Learn about Ascent’s Bright Futures Engine
Find Ken on LinkedIn

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Busting Common PSLF Waiver Misconceptions, New Updates on Interest Capitalization, and an SLP Pricing Announcement Jul 19, 2022

Pretty much everything regarding student loan debt is in flux right now, so it’s a perfect time to get the facts straight and bust some misconceptions. Hopefully, this will ease your mind a bit and empower you to get the assistance you need to go after the debt relief you deserve. Join me in this episode as I break down some popular misconceptions about the PSLF Waiver and IDR Waiver programs, as well as a few other pertinent issues and updates around student loan debt relief, interest capitalization, and more.

In today’s episode, you'll find out:

The major benefits of joining an occupation-specific PSLF Facebook group (check out the links below to join one!)
How much student debt could be forgiven for teachers, nurses, social workers, etc through the PSLF Waiver
Whether the PSLF Waiver is creating more or less inequality in student loan debt
The truth about the most common misconception: You can only benefit from PSLF if you have 120 months (10 years) of credit.
The specifics about the Department of Education’s IDR Waiver and what it means for you
What is Biden’s newest proposal to change interest capitalization, when it’ll go into effect, and how it will affect loan borrowers
What you need to know about our pricing changes that go into effect September 1

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Biden’s Student Loan Changes & What They Mean for Your Student Loan Debt Jul 12, 2022

Biden’s Student Loan Changes & What They Mean for Your Student Loan Debt

The Biden Administration recently came out with a variety of sweeping proposals which are going to impact your student loans in a BIG way. These changes aren’t slated to go into effect until July 2023, but they might start even earlier than that. Join me as I break down the new changes to student loans that the Biden Administration proposed and what other changes we can expect from the Department of Education in the near future.

In today’s episode, you'll find out:

How interest capitalization may impact your student loans
New changes the Biden Administration made to the PSLF rules
How to join our occupation-specific PSLF Facebook group for more support
Borrower defense settlement applications, potential benefits and dangers
What to do if you feel like your degree gave you no value
How the Supreme Court might handle the Borrower Defense settlement
Potential updates and impacts of student loan cancellation, payment restart, and more
What new information there is about the upcoming IDR Plan
Whether these recent changes to student loans will increase the inequality in student loan debt (spoiler: We think so…)
If the student loan pause will be extended past August 31st, 2022

Links mentioned:

Borrower Defense application
Request an IDR and PSLF waiver webinar for your organization
17 Best Physician Home Mortgage Loans in 2022
Use our free student loan calculator
Manage Your Student Loans at studentaid.gov

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Answering Your Sweet v. Cardona Questions, Waiver Updates and More! Jul 05, 2022

Washington may be headed into summer vacation doldrums, but for student loan borrowers now – more than ever – is a time to stay alert and informed! I’ll start with a deep dive into a proposed settlement in the Borrower Defense to Repayment lawsuit (known as Sweet v. Cardona), outlining the origins of the class action and who stands to receive forgiveness from for-profit schools that marketed through fraudulent means. I’ll also give you the latest updates on where PSLF and IDR waivers stand, and why a big announcement related to the student debt pause will likely occur in the next month. Then, I’ll wrap up with announcements about Student Loan Planner's exciting new webinar initiative and program changes coming this fall.

In today’s episode, we’re covering:

What’s it all about? A little background on Sweet v. Cardona
What it means that it’s a “proposed” settlement (and not yet finalized)
The major issue at hand: Should those who were defrauded by scam for-profit universities be forgiven their government loans?
What to do if you’ve already applied for Borrower Defense and what to do if you haven’t
Updates to the PSLF waiver even though a final decision hasn’t yet been made pending determination of executive authority
Why I anticipate a big loan announcement in late July/early August
Why people are missing out on $50 billion or more available for forgiveness
How to get in on our newest initiative of free online info sessions to any groups or associations interested
Changes in pricing our pricing structure starting September 1st
A recap of refinancing and where it stands right now for borrowers

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Answering Your Questions About IDR Waivers, Disability Insurance & Reducing Student Loan Repayments Jun 28, 2022

Join me in this episode where I answer many of your most popular questions about Income-Driven Repayment waivers, grace periods, reducing your loan repayment amounts, disability and term life insurance, our NEW Student Loan Planner Insurance, and so much more! It’s an info-packed episode you won’t want to miss, especially if you’re a medical professional!

In today’s episode, you'll find out:

Will relief come for spousal joint consolidation loans
How PSLFs are changing after the Income-Driven Repayment (IDR) waiver announcement.
How to know if you’re eligible for loan forgiveness on a Standard Tenure Plan
Potential problems with loan repayment grace periods after you graduate
How to exclude spouse’s income to reduce student loan repayments
What it’s like to go through an adversarial preceding (recommended attorneys & getting relief from a school that closed)
How to avoid the June 30th disability insurance sales tactic
What important medical professionals need in their disability insurance policy
How to know if you need term life insurance

Links mentioned: Get Your Own-Occupation Disability Insurance Quote Get and Compare Term Life Insurance Quotes Book a 1 hour consult with us

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Updates on the Limited PSLF Waiver and the MOHELA Transfer Jun 21, 2022

Senior Student Loan Advisor Meagan Landress, CSLP®, and one of our newest Student Loan Advisors, Sim Terwilliger, CFP®, CSLP®, discuss a number of relevant topics to student loan borrowers today.

Listen as they answer listener questions from the inbox, technicalities about loan repayment (particularly around recertifying for your existing income-based repayment plan) and info about the Limited PSLF Waiver and consolidating your loans for PSLF.

In today’s episode, you'll find out:

How Aidvantage is asking borrowers to recertify for income-based repayment
Know when you’ll actually need to recertify (not before March 2023!)
How recertifying too soon can impact your income-driven repayment amount
When we think student loan payments will resuem
How to figure out your interest rates on federal student loans
What FedLoan Servicing’s transfer to MOHELA means for borrowers
Where your data is stored (hint… it isn’t just your servicer account)
What to expect when consolidating your loans for PSLF or the IDR waiver
How teachers can avail of PSLF and teacher loan forgiveness at the same time

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Five Tools You Need to Create a Winning Financial Plan Jun 14, 2022

I’m offering a sneak peek into “Dreams Not Debt,” our brand-new ultimate guide to creating your very own financial plan. Listen is as I break down the five key crucial elements to keep in mind when putting together your plan (cashflow, taxes, insurance and asset protection, life milestone planning and goals-based investing)⁠ — and share actionable tips on how to optimize each one to help you achieve your unique goals!

If you’ve always wanted to get financial plan but felt like the price was out of reach, or you feel like financial planning doesn’t take into account your student loans, this is the course for you — and our podcast listeners can get it for 70% off through Thursday. Check it out at studentloanplanner.com/plan

In today’s episode, you'll find out:

How to calculate your true net worth as a student loan borrower
When it might be a good idea to hire an accountant to do your taxes for you
The 5 key elements you need: Cashflow, taxes, insurance and asset protection, life milestone planning and goals-based investing
About the different types of insurance to consider as part of your financial plan
How to navigate the complexities of protecting your assets
How to categorize your goals and focus on the right investments to achieve them

Links mentioned: Dreams, Not Debt — Build a Financial Plan for Your Best Life

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The Lies You’re Told About Financial Planning Jun 07, 2022

Society tells us that we can only retire in our 60s. If that’s your plan, I think it’s great! But you need to know there are more options available than you have ever dreamed possible, and it all comes down to having the right financial planning strategy in place.

Of course, that’s easier said than done.

Listen in as I break down what’s wrong with the standard approach to financial planning, and what you can do to chart a course towards your ideal life in as little as a year.

In today’s episode, you'll find out:

Why financial planning isn’t only for rich people
What’s wrong with the standard approach to financial planning
The real purpose of financial planning
How to use financial planning to live your ideal life in a year
Why financial planning is different than financial tools
About different roles of financial planners and how the profession has evolved over time
Why increasing your income alone doesn’t guarantee financial success
How to use financial planning tools to your advantage as a student loan borrower

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How to Create Inspiring Goals that Empower You to Pay Off Your Student Loans May 31, 2022

Too often, we set goals and we never reach them. Why is that? It’s most likely because our goals aren’t inspiring enough! If your goals haven’t inspired you enough to pour your heart and soul into reaching them, let’s fix that. Join us, Rob Bertman, CFA, CFP®, and Lauryn Williams, CFP®, CSLP®, as we talk about how to set inspired financial goals so you can become debt-free and live the abundant life you want to live.

In today’s episode, you'll find out:

How to turn boring, ineffective goals into inspiring, effective goals
The power of thinking of possibilities instead of clinging to the “what ifs”
How smart, inspired goals positively impact your spending habits
Creating the path towards success and goal-setting for your biggest aspirations
Why don’t I ever reach my goals? How can I become a serial goal-achiever?
The importance of focusing on the process over the outcome
How to create financial goals that will help you become debt-free
The 5 C’s of inspired goal-setting
Why you need to write down your goals and say them out loud
The crucial role of habits in reaching your goals
Goals we’re currently working towards: Flexible travel options and Lauryn’s financial retreat

Links mentioned:

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More Student Loan Companies Are Going Out of Business May 24, 2022

The Federal Reserve realized they messed up: Inflation wasn’t only a temporary setback brought about by the pandemic. Monetary policy was left too loose for too long, and now it’s led to the worst inflation in 40 years. This is painful for businesses of all types, big and small—including student loan companies. Many of them have no choice but to pivot or phase out certain products, and some of them go out of business completely. Join me as I talk about the student loan servicers that have been forced to shut down and what all of this means for borrowers.

In today’s episode, you'll find out:

Why the Fed messed up and what they’re doing about it
How inflation measures up in today’s economy
The pain student loan companies are facing
How the changes are impacting borrowers going for forgiveness
What to know about the Nelnet-Great Lakes merger
What the multiple student loan pause extensions mean for companies
What borrowers need to do to prepare for servicer changes
How servicers could fight back against Congress
Whether more student loan refinancing companies will shut down
What I think about the student loan pause continuing
About our latest updates on the IDR waiver and cancellation by Executive Order

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The Racial Wealth Divide May 17, 2022

Senior student loan advisor Lauryn Williams, CFP®, CSLP®, sits down with one of SLP’s newest student loan advisors, James Mwombela, CFP®, to discuss the racial wealth divide and how it has impacted Black Americans’ ability to create wealth. The basis for today’s conversation is a Wall Street Journal article written in August 2021 titled “College Was Supposed to Close the Wealth Gap for Black Americans. The Opposite Happened.”

In today’s episode, you'll find out:

Why Black college graduates have a lower net worth in the 2020s than in the 1990s
What is net worth and why does it matter
Slow income growth and other causes of low net worth for Black households
How student loan debt is affecting college graduates now versus 30 years ago
How this phenomenon has impacted the lives of young Black graduates today
About the history of the racial wealth gap
Why homeownership is significantly lower for Black graduates
The role of homeownership in wealth building
How the lack of financial literacy stops net worth in its tracks

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Riding the Rapids: Decoding Student Loan Cancellation, Waivers and Survey Results May 10, 2022

I’m breaking down all the fluid elements swirling and often confusing even the most knowledgeable student loan loan experts. There’s just so much going on – and the U.S. Department of Education may or may not be concealing a backdoor form of relief via their complex waiver programs. What will happen if cancellation occurs? It’s not clear, but it’s very likely to end up in a heavy political court challenge just as midterm elections heat up. And we’ll be here to help you ride the rapids and optimize whatever opportunities are out there.

In today’s episode, we’re covering:

Advice about consolidating Parent Plus loans that parents took out for their two kids
The first thing you need to know about Parent Plus loans before figuring out your long-term strategy
Whether it’s possible to get credit for payments made during in-school deferment
President Biden’s recent announcement and the pressure he’s under with regard to loan forgiveness
Possible loan forgiveness for under $50,000, including a means testing approach
Results of our biggest-ever survey of more than 6,200 subscribers and listeners about loan forgiveness
Why only 47% of borrowers with balances under $50k plan to pursue forgiveness
The complete breakdown of demographic insights in terms of what population is going for student loan forgiveness
Debt cancellation for people in default on loans of $10,000 or under

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The Income-Driven Repayment Waiver: What You Need to Know May 03, 2022

Vastly underreported in the media, the IDR waiver is currently being portrayed as an option for tens of thousands who are eligible for PSLF or income-driven repayment. Join me as I discuss this once-in-a-lifetime opportunity, and how I see this as a way to help millions get forgiveness. Listen in as I break down all you need to know about the IDR waiver!

In today’s episode, you'll find out:

What is the IDR waiver
How it’s meant to help student loan borrowers
Why you need to pay attention to the IDR waiver
The potential limitations of the IDR waiver
Who could benefit from this once-in-a-lifetime opportunity
How many people can get immediate cancellation
The political and legal headlines I think we’ll see because of it
Why the current administration is so keen on promising student loan cancellation

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How to Help Your Friends Qualify for the PSLF Waiver Apr 26, 2022

The temporary PSLF waiver is an amazing opportunity that offers expanded loan forgiveness for a limited time. Learn how you can use your knowledge of this once-in-a-lifetime program to help your friends get forgiveness on their loans before the October 31, 2022, deadline. Plus, I’m answering listener questions to clarify some points of the PSLF waiver, income recertification and Parent PLUS loans.

In today’s episode, you'll find out:

Why you need to take advantage of the PSLF waiver
How to share the PSLF waiver opportunity with your friends
Why a student loan consult makes sense for your student debt
The new income recertification date you need to know for IDR plans
How consolidation can help you get more qualifying payments
When consolidation could cause problems
Whether or not Parent PLUS loans qualify for the PSLF waiver
When double consolidation makes sense for Parent PLUS loans
Why being vulnerable when talking about student loan debt matters
How best to educate your friends on the temporary waiver

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The Basics of Student Loan Repayment: Which Plan to Choose, How to Make Payments, & When to Recertify Your Income Apr 19, 2022

With the student loan pause, it’s likely that many of you haven’t made a payment in quite some time. So, how does repayment work when you’re fresh out of school? What do you need to know before starting to pay off your student loans?

Join us, Lauryn Williams, CFP®, CSLP®, and Dan Rooker, CFP®, CSLP®, as we talk about the basics of student loan repayments while helping you figure out which repayment plan is best for you and how to start paying off your student loans.

In today’s episode, you'll find out:

What you need to know about the grace period of student loans.
The only reason you should use your loan’s grace period.
How to figure out which loan payment plan is right for you.
Student loan repayment options
The 5 types of income-driven repayment plans.
The 2 most popular repayment plans
What happens when your income changes? Do you have to update your loan?
Why you do not want to be late in recertifying your income.
How to easily calculate your student loan repayments for free!
When to recalculate your payments and recertify your income.
When are student loan payments due?
Should you enroll in autopay for your student loans?
What is a prepayment and when does it make sense to make a prepayment?
How do you set up loan exit counseling?

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Where We are with Student Loan Repayment Extensions, and a Big Announcement! Apr 12, 2022

There are no guarantees when it comes to the future of federal student loans, but there are some clear data points and indicators — and I’m sharing my views on what will happen next. I’ll take questions from listeners and deconstruct several scenarios that could impact student loan repayment as we head into midterm election season. Between the political and practical factors that will determine what happens next, I’ll explain why my I think the current pause will extend at least through the end of 2022.

You’ll also be the first to hear about an exciting new development at Student Loan Planner, which has just expanded its services to offer insurance coverage. With the same ethical approach we’ve taken to student loan strategies, SLP Insurance LLC will advocate for your best interests, which means providing the best coverage at the best rates.

In today’s episode, you'll find out:

Listener questions about pre-paying loans, refinancing in an atmosphere of overall spiking interest rates, PSLF waivers and how to get creative about certification when your employer changes tax status
Will the current student loan pause be extended through the end of the year
Why did the Biden Administration choose to extend the pause through August 2022
What I think about a few election season announcements about $10,000 of debt cancellation, a generous new income-based repayment plan, and an IDR waiver
What you need to know about Operation Fresh Start
What might happen if Congress remains under Democratic control after the midterm elections, and what if the Republicans prevail
Our new Student Loan Planner initiative of SLP Insurance LLC
How SLP Insurance extends the same ethical approach used to optimize student loan strategies and repayment to grow wealth and security for student loan borrowers and professionals
How the agency can help people shop for life and disability insurance

Links to topics mentioned:

Refinance student loans
Get a quote for disability insurance from SLP Insurance LLC
Get a quote for life insurance from SLP Insurance LLC

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Emergency Pod: Student Loan Pause Extended Until August 31 Apr 05, 2022

THIS JUST IN from your favorite pod!

__________________________

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Afraid of Student Loan Debt? There Are Some Excellent Reasons Not to Be Apr 05, 2022

Horror stories about out-of-control college debt are familiar to most of us, but there is a flip side to consider. Shying away from student loans can prove short-sighted, especially if it costs you the ability to focus on studies, network with classmates and pursue career enrichment opportunities. The trick is enlisting the right loans for the right reasons – with a carefully considered plan in place. Learn why our student loan advisor, Sim Terwilliger, has some regrets looking back on how she managed the financing of her long-dreamed-of Ivy League college experience. She and Lauryn Williams, our senior student loan advisor, highlight common misconceptions about debt and how to avoid pitfalls both real and imagined. As Sim sums up: “Yes. Be cautious. Be intentional. But don’t be fearful. Let knowledge give you clarity and direction.”

In today’s episode, you'll find out:

Undergrad price tags are steep and debt is intimidating, but there are options
Colleges offer all kinds of packages, including work-study programs
Fear of debt is natural and not a bad thing – but it’s important to get educated about it
Unpaid internships can be out of reach and impractical for lower-income students
The open mouth gets fed: Never shy away from asking for help
Only 45% of undergrads at Sim’s Ivy League college qualified for need-based grants
A Factor to Consider: Being the scholarship kid can feel awkward, even demoralizing
If your living circumstance/home life is stressful or unhealthy, loans can be a worthwhile catalyst to change that pays off in the long-term
Just $5,000-$7,500 in loans can provide enough flexibility and breathing room to make a real impact on the quality of an overall educational experience
Parent-Plus loans are another option for students whose family financial picture doesn’t fit the standard financial aid calculus
If your estimated family contribution is unrealistic, ask your financial aid office for a reevaluation of specific facts and circumstances
FAFSA is the baseline federal student aid application and CSS Profile is for private college consideration
Liquidating assets to finance college expenses can be ill-advised for parents approaching retirement age
Top 5 reasons that Sim wishes she would have opted for student debt
Why federal loans are preferable to private loan options

Links to topics mentioned:

About Parent-Plus Federal Student Loan opportunities An overview of the federal FAFSA application An overview of the private CSS Profile

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The Student Loan Serving Industry is BROKEN: How Can We Fix It? Mar 29, 2022

The loan servicing structure needs to be fixed, but how and why? Join me as I welcome Bobby Matson, CEO and Founder of Payitoff, to talk about why the state of the student loan serving industry is broken and how we might be able to mend it. Without getting overly cynical, we shed light on the incentive structure of student loan servicers, the problems that can arise when student loans are cancelled, and the changes and opportunities in loan servicing you can expect in the next few years. In today’s episode, you'll find out: Servicers get paid $25-30 per borrower. What kind of incentive structure does that create? What does Payitoff do and how does it help institutional customers manage and pay off debt? Why did Navient exit the business of loan serving? Why the politics of student loans are brutally cynical right now. Is there a solution? The frustrating problem with cancelling student loans. How student loans systems are increasing disparities in outcomes and increasing defaults, even for communities that need the programs. What you can expect in the next few years: NextGen servicing contract? Will I need to visit my servicer’s website in the future? Will I experience service interruptions? Why the loan servicing structure needs to be fixed. Opportunities in educating senators on how federal loans work. Should I reach out to Payitoff for help with debt repayment?

Using a 529 Plan to Save for Your Kids’ Education and More with Mary Morris Mar 22, 2022

Do you have kids or are you thinking of having kids? Want to know how you can help your children avoid the student loan mess you’ve had to deal with? Join me and Mary Morris, CEO of Virginia529, as we talk about the benefits of a 529 plan and how to set up a tax advantage education savings plan for your children, even if they don’t exist yet.

In today’s episode, you'll find out:

What is a 529 plan and how does it work? What can I use a 529 plan for?
How to choose a 529 plan: Cost, investment options, tax advantages, tax deductions, and more.
Can I use a 529 plan from a different state?
How to use a 529 plan to start a college savings fund for a child who isn’t born yet.
Can I change the name and the beneficiaries on my 529 plan? How can my friends and family contribute to my 529 account?
Tips for reducing and paying off large student loan debts (529 matches can be a game changer!)
Why tax season and holidays are great times to start growing a 529 account.
Limitations and restrictions of a 529 plan.
Is a prepaid 529 plan worth it?
How much monthly savings is realistic for saving for college?
Stay tuned to SLP to hear from more amazing guests!

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Introducing New Student Loan Planner Consultants James and Sim! Mar 15, 2022

Lauryn Williams, CFP®, CSLP®, welcomes Student Loan Planner’s newest consultants, Sim Terwilliger, CFP®, CSLP®, and James Mwombela, CFP®.

Strap in as we get to know Sim and James. The two share their authentic journeys, what motivated them to enter the financial industry, their serendipitous paths to joining SLP, and what they’re looking forward to in this new stage of their professional lives.

In today’s episode, you'll find out:

How James came to join the team at SLP
Sim’s background and the path that led her to SLP
What ignited James to join the personal finance community
The book that James loves for financial literacy
Why financial literacy is woven into every aspect of managing your student loan
How Sim’s childhood fueled her journey into financial planning
Sim’s favorite tool to manage her finances
How our new consultants were able to overcome recent setbacks in their lives
What Sim and James are most looking forward to as SLP’s newest consultants

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What Interest Rate Chaos Means for Your Finances Mar 08, 2022

Senior consultant Rob Bertman, CFA, CFP® joins me to discuss recent developments related to interest rate policy at the heels of Russia’s invasion of Ukraine. We also cover the impact of subsequent decisions to be made by the Biden administration in the coming months on interest rate policy.

In today’s episode, you'll find out:

What to expect from the housing market this summer as interest rates continue to rise
The impact of 1% difference in a mortgage interest rate
Why a typical middle-income family might itemize their mortgage interest
If we think interest rates will keep rising or remain steady
Why interest rates have gone up even before the Russian invasion
How to navigate the refinancing market
Whether you should refinance now or wait
Why most people have suffered more than benefited from the student loan freeze
Where we go from here since Russia has invaded Ukraine

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The TRUE Cost of Your Graduate Degree Mar 01, 2022

Do you ever wonder why the prices of graduate programs have gone up so drastically over the last few decades? Do you want to know what the TRUE cost of your graduate degree is? Join me as I talk about why the cost of graduate school hasn’t gone up as much as you think it has.

In today’s episode, you'll find out:

How competition impacts the cost of tuition
Reasons why the cost of graduate school has increased since the 1970s, especially for physical therapy, dentistry, law, vet med and pharmacology
How today’s employment prospects drives up the cost of college
The role of producer surplus and consumer surplus in the context of higher education
Why there’s no cap on borrower for federal grad loans
The difference in borrowing for undergrad and grad school
The importance of looking at the present value of your loan payments and how to determine that present value
Can medical school graduates and medical specialists get PSLF benefits

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Common Student Loan Scams and the Potential Benefits of the ICR Plan Feb 22, 2022

Meagan Landress, CSLP®, and Dan Rooker, CFP®, CSLP®, sit down to discuss common student loan scams. They also share why the Income-Contingent Repayment (ICR) plan might just be a great option to consider for borrowers looking to take advantage of the limited PSLF Waiver opportunity.

In today’s episode, you'll find out:

Why you should check the StudentAid.gov site frequently
About some of the most common student loan scams
Real-life examples of scams our listeners have seen
Why scams are likely to increase over the coming months
What to look for to avoid being taken advantage of
Who should consider the Income-Contingent Repayment plan
How the ICR plan may push you much closer to forgiveness, if not immediately get you loan forgiveness
Why your PSLF payment count is probably wrong
The latest must-knows regarding the limited PSLF waiver

How to Save Money on Taxes with Olympian and Student Loan Planner Lauryn Williams Feb 15, 2022

With tax season upon us, I’m sitting down with consultant Lauryn Williams CFP®, CSLP®, to discuss a number of common concerns by both employees and business owners. We cover everything from saving money on taxes in general to what to consider when seeking IBR recertification, all the way to taking advantage of pre-tax accounts.

In today’s episode, you'll find out:

How Lauryn Williams became an Olympian
How to recertify for income-based repayment
How to save money on taxes as an employee
What to know about contributing to pre-tax accounts such as a 401(k)
Why borrowers shouldn’t worry about unemployment and retirement
How to take advantage of a backdoor Roth IRA
How to save money on taxes as a business owner
What to know about the SEP IRA and the Solo 401(k) if you are self-employed
Why it literally pays to hire a tax professional

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Five Reasons Student Loans Are Totally Worth It Feb 08, 2022

Most people have a love-hate relationship with student loans. I’m diving into five reasons why student loans are absolutely worth it. And yes, it’s true: There are unique situations in which they may not be worth the plunge. But I’ll make the case that, for the majority of folks, student loans may just turn out to be one of the best investments they’ll ever make.

In today’s episode, you'll find out:

Whether you qualify for PSLF if you work for a 501a
What I think about crypto
How Roth compares to 401(k)
How to know if student loan debt it worth it
Why borrowers shouldn’t worry about unemployment and retirement
Why negotiating with your employer can open up new opportunities for you
Why every borrower should consider starting a business based on their unique skillset
How access to better professionals can help you save on taxes
How student loans can help you get higher levels of job satisfaction

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What to Know About Recertification on an Income-Driven Plan Feb 01, 2022

Lauryn Williams, CFP®, CSLP®, sits down with fellow consultant Meagan Landress, CSLP®, to talk in detail about student loan recertification and PSLF waivers. If you’re worried about self-reporting or recertifying your income and how this whole process works when you’re on an income-driven plan, this is the episode for you!

In today’s episode, you'll find out:

How to self-report if you’re on an income-driven repayment plan
Mishaps to self-reporting and how you can avoid them
The earliest you’ll need to recertify your income on an income driven plan
The best way to prepare for the resumption of payments in May 2022
About the latest developments regarding the PSLF waiver
What to know about overlapping payments
Why borrowers shouldn’t worry about the letter they receive from FedLoan Servicing as they go through the consolidation process

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Will You Get Money from the Navient Lawsuit Settlement? Jan 25, 2022

The major news this week is Navient’s $1.85 billion settlement, which involved 40 state attorneys general.

I’ll give you the rundown of the settlement, what it means and answer the biggest question borrowers want to know: Can you get money from this settlement?

In today’s episode, you'll find out:

What is borrower defense to repayment and why you should apply
How to get the most benefit from the PSLF Waiver
The background of the Navient lawsuit
Why Navient settled the lawsuit
The role of Sallie Mae in the Navient lawsuit
Navient’s predatory lending practices
Whether you can get cancelation or a check in the mail from Navient
Why Navient is dealing with low-quality debt and what that means for their clients
About the damage done to borrowers from the Navient settlement

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Everything You Need to Know About the PSLF Waiver Program in 2022 Jan 18, 2022

Break out your apocalypse gear because a disaster is coming! Just kidding, we’re trying to keep things light and optimistic here, but it’s difficult when there are so many PSLF challenges people with student loans are still facing. Join me as I discuss the upcoming Public Service Loan Forgiveness (PSLF) problem of 2022 and how you can ultimately overcome it.

In today’s episode, you'll find out:

Who is the PSLF Waiver going to help in 2022 and who won’t benefit from it?
The problem: The inequality and unfairness of how the PSLF Waiver will be applied.
Default rates for disadvantaged groups with undergraduate degrees (before the pandemic).
How to qualify for the PSLF Waiver and the 2022 deadline you must apply by.
Is the PSLF waiver easier or harder to navigate than signing up for income-based repayment?
Solutions for this problem: Spread the word and tell your friends!!

We’re building out tools and resources to help you identify if you can benefit from the PSLF Waiver and how much credit you can get! Stay tuned!

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How to Achieve a Six-Figure Net Worth in 2022 Jan 11, 2022

We can’t control the pandemic or public policy, but we can control our actions to dramatically increase our net worth. I’m going to show you and your family a wealth of options for your wealth. Achieving a six-figure net worth seems like a daunting task, especially when you’re saddled with student debt. However, I’ll prove in this episode that your debt shouldn’t be an obstacle as you build your wealth. Listen in and learn why.

Find out why...

You can’t rely on the income you get from a job
Passive income (not from side hustles) is key to wealth
Your problem is not having assets and not your student debt
The truth to growing assets to create options for yourself
A six-figure net worth is the key success metric on the road to building your wealth
The world of investing is so confusing nowadays and how to navigate it
You have an advantage in the 2022 job market as someone with an advanced degree

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Investing in 2022: Take Control of Your Finances Jan 04, 2022

It’s 2022, and there’s no better year to kickstart your journey to financial independence! One of the keys to making this a reality is a solid investment strategy alongside your student loan strategy. After two years of living in a culture of fear, people are craving for freedom—for autonomy and choice. This could be the year you finally get a taste of that freedom. Listen in as I reflect on the turbulence of the economy over the past two years and offer my thoughts on what to look out for when investing in 2022.

In today’s episode, you'll find out:

How the economy evolved over the past two years
Why we need to get past the fear culture with our finances
How to invest alongside your student loan debt
The key to investing even if you’re living paycheck to paycheck
Three positives for investing in 2022
Three caution signs for investing in 2022
The best way to act on your craving for freedom
How to not let the ups and downs of the market stop you from investing

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Signs You’re Doing Better Than You Think Dec 28, 2021

Having six figures of student debt to pay off can often make you feel like you’re in bad shape, and for good reason.

But as SLP consultants Rob Bertman, CFA, CFP®, and Lauryn Williams, CFP®, CSLP®, explain, you may be doing better than you think. Listen in for a positive, upbeat message and learn how to change your paradigm around your student loans and the various opportunities available right now to help you accomplish your goals.

In today’s episode, you'll find out:

How a simple shift in perspective can help you see that you’re closer than you think to paying off your student loans
Why an income-driven plan gives you an incredible amount of flexibility in how you design your life and career
The power of a positive attitude to overcome significant challenges
How to face your fears and finally tackle your student loans
The best way to pay as little as possible and eventually take advantage of student loan forgiveness

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Emergency Pod: Biden Extends Student Loan Pause Dec 22, 2021

Just announced!

President Biden extends the pause on student loan payments to May 1, 2022.

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Refinancing Your Student Loans Amid Temporary Expanded PSLF Dec 21, 2021

I reflect on how my wife and I would have approached her student loan strategy differently if given a second chance. Listen as I pick apart a 2015-version of me (who had just started dating my then-girlfriend-now-wife) and the conversations we had around her $124,000 med school loan, and how a seemingly straight path to forgiveness led to a string of complications.

Then, I dive into my thoughts on the ongoing negotiations around Temporary Expanded PSLF and how to go about refinancing your loans in the next couple of months.

In today’s episode, you'll find out:

A flashback to my experience with student loans in 2015
How my wife and I lost $200,000 on student loans
How to avoid wasting tens if not hundreds of thousands on sub-optimal student loan strategies
How the best investment strategies can be more powerful than perfect student loan cancellation or forgiveness
What to expect out of Temporary Expanded PSLF in the coming months
Who in the government is most likely to uphold their end of the ongoing negotiations to expand PSLF

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Answering Your Questions About the EICR Plan, the PSLF Waiver, and How to Know When to Recertify Your Student Loan Dec 14, 2021

From the PSLF Waiver to the EICR plan to the debt mindset, there’s a lot we need to cover regarding student loans and loan forgiveness in 2022 and beyond. Join me as I answer a few listener questions you asked us via our podcast voicemail! I talk about recertification, why it’s so hard for undergrads to get student loan forgiveness, how to not feel so trapped by your debt, and more. Let’s all take a deep breath and get some answers!

In today’s episode, you'll find out:

How to navigate the Public Service Loan Forgiveness (PSLF) Waiver Program: Two of my six student loans were forgiven under the PSLF waiver, but why weren’t the other four forgiven when they should’ve all been qualified?
How long will my $0 FedLoan payments last? How do I know when to recertify?
What you need to know about the new Expanded Income-Contingent Repayment (EICR) Plan: How will it impact me? Is it only for undergraduate student loans?
Why it’s so hard for undergrads to get student loan forgiveness.
Why does debt make people feel trapped? & How to shift your mindset to feel less trapped by student loans.
And more!

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What We’re Seeing in the Field: PSLF Waivers and Servicer Changes In Action Dec 07, 2021

Join Student Loan Planner consultants Lauryn Williams, CFP®, CSLP®, and Meagan Landress, CSLP®, to discover what’s new and exciting about the PSLF Waiver and the servicer changes. They’re sharing what they’re seeing “on the ground” with real-life scenarios of the PSLF Waiver and servicer changes happening for borrowers.

In today’s episode, you'll find out:

What’s happening to PSLF folks that have moved from FedLoan to Mohela
What is the PSLF Waiver and how does it work?
How to know if you qualify for PSLF Waiver
How temporary is the PSLF Waiver loan forgiveness opportunity? When do you sign up for it?
Everything you need to know about the PSLF Help Tool & How to use it to sign up for the waiver
What the PSLF recertification process looks like
Why would a loan servicer call me? & A real story of this happening to one of our clients
Listener Q&A to learn about FFEL loans, forgiveness, recertifying income, and more

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How Inflation Impacts Student Loan Borrowers Nov 30, 2021

Inflation is the hot topic of the day. Is it here to stay? And does inflation mean income-driven repayment programs are a bad idea? Listen in as I unpack the inflation conundrum as well as the latest news around the PSLF waiver along with updated guidance from the Department of Education.

In today’s episode, you'll find out:

How inflation impacts student loan borrowers
The gold standard, inflation, and deflation, and what it means
A brief history of inflation and how we got to where we are today
The role farmers played in inflation over time
What’s going on with consumer’s balance sheets amid inflation
What to expect with IBR when inflation happens
Why borrowers who refinance like inflation
What you sacrifice in the long-term by aggressively paying off your debt in the short-term
Who benefits from inflation

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- Book your custom student loan plan

$700 million in Student Loans Forgiven in a Single Day Nov 23, 2021

The Department of Education recently forgave around $700 million in student loans in a single day. I talk about how the new PSLF Waiver played into that, what it means for student loan forgiveness, and what it means for you and your finances. I also sit down with Ben Martinek, EA, CSLP®, CFP®, of Student Loan Tax Experts. He shares his experience helping student loan borrowers with their taxes and how you and your spouse may be able to save some cash through amended returns.

In today’s episode, you'll find out:

Who the Department of Education is giving forgiveness to and when
How to make the right student loan decisions based on your finances and your personality
The problem with the tax-bomb after student loan forgiveness and why I think the tax-bomb won’t actually happen
Why refinancing student loans to a lower interest rate isn’t right for everyone
The important of planning for unpredictable events in your finances
How the current administration decides on student loan policy
How to save money by amending tax returns with a three-year lookback period

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- Book your custom student loan plan

What We Know About the New New IBR Nov 16, 2021

We could see a new student loan repayment plan for borrowers. The old IBR and the new IBR have been around for a while — now, the Biden administration is poised to create a new new IBR tentatively called The Expanded Income-Contingent Repayment (EICR) Plan. Confused? You’re not alone.

A lot is happening in the world of student loans, and a lot more will continue to happen come 2022 and beyond.

Listen in as I cover the ins-and-outs of the EICR Plan, a brief history of how today’s set of IBR programs came to be, and what borrowers can do to prepare for potential developments regarding IBR in the near future.

In today’s episode, you'll find out:

A recap of recent student loan-related legislations and executive actions
Why the PSLF waiver has a deadline
Why I expect a lot of changes in student loans in the next 2 years
Why you shouldn’t worry about repayment programs going away
How the current mess of IBR programs came about
What the EICR Plan is
How the EICR Plan works and how it could impact borrowers
What’s new with student loan servicers FedLoan and Aidvantage
Updates on the temporary expanded PSLF plan

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Financial Freedom by Investing in Real Estate with Coach Carson Nov 09, 2021

Today, I’m joined by Chad Carson, aka Coach Carson. He’s a husband, father of two, real estate investor, and world traveler. His message is threefold: Invest in real estate. Retire early. Do what matters. Listen in as Chad and I talk about his best practices for building a robust real estate portfolio and achieving financial independence.

In today’s episode, you'll find out:

Coach Carson’s “unusual” background before becoming a real estate investor
What to know before buying your first rental property
How to qualify for a second mortgage to be able to buy an investment property
How to choose which type of property to buy (ex. single vs multifamily)
Why big cities tend to be the best places to invest in
How to bring down your taxable income as a married couple via your investments
How to invest in real estate as a five-figure earner
Different ways to invest in real estate

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Navient is Gone Nov 02, 2021

There’s a lot going on in the world of student loans, from the recent overhaul of the PSLF program to the Federal Reserve’s “tapering” of bond purchases and its impact on interest rates. Travis takes on seven listener questions spanning today’s big issues. He then goes into the latest on the student loan servicer Navient.

In today’s episode, you'll find out:

How and why to track your PSLF credit for long-term loan forgiveness
How to appeal loan consolidations
What the PSLF waiver changes are and how to navigate them
What your start date is for making PSLF payments
Whether to accept a family member’s offer to pay off a chunk of your loans or to wait for forgiveness
When to get creative with how much PSLF credit you might be able to get
If you’re missing out on any loopholes with your PSLF waiver
How to adjust to Navient handing you off to Maximus/Aidvantage

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The Biggest PSLF Expansion in History Oct 26, 2021

The PSLF expansion took borrowers by surprise. The Biden administration’s big announcement of a total overhaul to the PSLF program is a big deal. For a variety of reasons, many borrowers counting on PSLF had payments or loans that previously did not qualify for forgiveness because they could not meet the stringent requirements. The Department of Education effectively wiped out many of the hurdles through October 2022. Listen in and find out how the PSLF expansion can potentially be a life-changing opportunity for public servant borrowers, and what this development could mean for the future of student loans as a whole.

In today’s episode, you'll find out...

Big takeaways from President Biden’s Executive Order
How to get PSLF credit for payments that didn’t count before
Why you can get PSLF credit for FFEL loan payments
Who benefits from this expansion
About the planned “grace period” on October 31, 2022
The Biden administration’s legal justifications for the expansion
Which employers could become eligible under this overhaul
Why the cost of forgiveness will dramatically rise going forward

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How To Protect the Next Generation from Student Debt Oct 19, 2021

Today’s conversation is for the parents out there who are currently navigating the challenges of paying down student loans all while preparing their own kids’ future. Do you actually have a solid plan to protect your kids from the massive debt burden you left school with? Listen in as our consultants Molly Laughter, MBA CFA, CFP®, and Lauryn Williams, CFP®, CSLP®, offer actionable strategies and tips for debt-straddled moms and dads.

In today’s episode, you'll find out...

How just $25/month can make a big difference
What is a 529 plan and how it can help with college savings
529 savings vs. a prepaid plan and how to choose
How grandparents, friends, and others can gift money to a 529
Using community college to save on college costs
Why it’s better for the whole family to have the kids be involved in conversations regarding school
How to handle Parent Plus Loans when you’re just a few years from retirement
The best money lessons Lauryn learned growing up
What to do if you didn’t grow up with great money messages
Why paying down your loans as fast as possible might not be the smartest strategy for you

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How to Plan for a New Financial Normal After the Pandemic Oct 12, 2021

We’ve all heard the term “new normal” being used to describe life as we move toward life after the pandemic. But what exactly does that mean for you? How ready are you to seize upcoming opportunities to thrive personally and professionally once the world reopens?

Listen in as consultants Lauryn Williams, CFP®, CSLP®, and Dan Rooker, CFP®, CSLP®, do a deep dive into measuring your new financial normal, setting goals, and managing your relationships in a post-pandemic world.

In today’s episode, you'll find out...

Why you should measure your new financial normal
The free and paid tools to measure your finances
Why Lauryn and Dan like YNAB (You Need a Budget)
How to get the support of your friends and family
How to fund a new small business
The best way to measure your small business expenses
The importance of setting career goals in the new normal
How to accomplish goals while working from home
Why now is a great time to explore new careers
Why student loans don’t have to dictate your career decisions
How to travel during the pandemic
Steps to unplug from your workplace when taking a vacation
Ways to manage relationships today and post-pandemic

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Servicers Fired, PSLF Changes, and a New IBR Plan Oct 05, 2021

It’s been quite a week for student loans. Navient and FedLoan, two of the biggest student loan servicers have thrown up their hands and said, “We’re out.” Listen in as I explain what’s happening with student loans right now. I’ll also talk about the timeline for the servicer transitions and what it might mean for you. I’m excited about what some of these changes can mean for our clients, but I’m also cautious. So, buckle up and let’s get started.

In today’s episode, you'll find out:

Why I’m worried even though the changes could be good
Why TEPSLF created more problems than it solved
The role of the CFPB in servicer accountability
My theory about why Navient quit federal student loans
Why I’m concerned about Maximus servicing student loans
The awesome changes to PSLF the Biden administration is proposing
How you might get PSLF even if you don’t have qualifying loans
Why a process called negotiating rulemaking is a big deal
How short- and long-term fixes can benefit you
What to expect in the coming months and over the next few years with student loans

Links mentioned:

National Student Loan Data System (NSLDS)

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Making a Big Law Escape Plan with Jessica Medina Sep 28, 2021

No one should be forced to keep a job where burnout, stress, and overwork have become the norm. Jessica Medina is a lawyer and Accredited Financial Counselor who helps her clients “build the money habits they need to actually build wealth.”

Listen in as Jessica shares her own experience leaving a series of prestigious roles in Big Law that she felt trapped in, and her journey to becoming an advocate for other professionals looking to do the same.

In today’s episode, you'll find out:

Why Jessica was drawn to law and how it turned into a career path
Jessica’s experience working long hours in Big Law while being the mother of two small kids
How the Financial Independence, Retire Early (FIRE) movement changed everything
How Jessica helps others with FIRE principles into her current work as a counselor
Where Jessica’s career trajectory would have gone if she had access to PSLF
Why Jessica decided to become a financial counselor instead of a financial planner
Jessica’s advice to risk-averse people (like herself at one point) who want to take the necessary risks to retire early

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Student Loan Loopholes That Don’t Work Sep 21, 2021

Student loan loopholes aren’t always a good thing. While many loopholes can benefit borrowers by helping them pay less on their student loans, some can end up doing more harm than good. Listen in as I dismantle eight loopholes that actually aren’t loopholes, from rolling your student loan into a mortgage or practice loan to borrowing from your parents to relying on your spouse’s ability to pay for your tuition and living expenses while at school.

In today’s episode, you'll find out why these loopholes don’t work:

How to get your student loan questions answered on the podcast
Turn your non-deductible student loan interest into deductible mortgage interest
Roll your student loan into your practice loan to get a tax deduction
Borrow from your parents or other family members to pay down your student loan
Borrow from the Department of Health and Human
Services, i.e. Loans for Disadvantaged Students
Pay off your student loan with a credit card
Use your spouse’s money for tuition and living expenses while you’re at school
Go to a Caribbean medical or vet school instead of waiting for another acceptance
Work while you’re still in school

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Six Student Loan Loopholes that Borrowers can Take Advantage Of Sep 14, 2021

In this episode’s consultant takeover, Molly Laughter, MBA CFA, CFP®, and Meagan Landress, CSLP®, dive deep into the student loan repayment loopholes that are available for borrowers — depending on certain factors such as family situation and where they live. Molly and Meagan also discuss tax implications, including those for individuals or families who live in a community property state versus those who don’t, as well as for those who live abroad and earn foreign income.

In today’s episode, you'll find out:

The ins-and-outs of the Double Debt Loophole
Defining Community Property States
Taking advantage of the Breadwinner Loophole
How the Reverse Breadwinner Loophole can help borrowers
Why a competent tax professional is crucial for student loan repayment
Understanding the Foreign Earned Income Exclusion for those living abroad
How the REPAYE Interest Subsidy works
What to know about the Double Consolidation Loophole for Parent PLUS Loans

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The Future of the Public Service Loan Forgiveness Program Sep 07, 2021

There’s a lot of talk around the Public Service Loan Forgiveness Program. In the last several months, we saw new developments unfold, and there’s no doubt we’ll see more changes in the years to come. I’m diving in and giving my thoughts on the current state of PSLF and what we could expect come election season in 2024 and beyond.

In today’s episode, you'll find out:

Why very few borrowers qualified in the beginning of the program
Why most people who apply for PSLF are denied
Why graduates after 2014 shouldn’t worry about qualifying for PSLF
Why is it for the best to make the approval process difficult
Who benefits from the temporary expanded PSLF program
My thoughts on two diverging paths that PSLF could take in 2024
Other potential developments for the PSLF program in the near future

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Is Your Student Debt a Good Thing? Aug 31, 2021

Was your decision to take out a student loan the right decision? In this episode, I make the case that student debt isn’t only the right decision, but a fantastic one. It can feel like a burden, but it’s also a massive opportunity to gain access to high-income skills that you can use to maximize your potential and leave a lasting impact.

In today’s episode, you'll find out:

Why I think student loan debt is a good thing
Why you shouldn’t wait to apply for PSLF, despite FedLoan leaving
Whether cash back credit cards are worth it
How disability discharge can forgive student loans
How student loans can give you the security of high income and job security
The true percentage of income you’ll pay for income-driven repayment plans
The few states that will potentially tax student loan forgiveness in the near future
Why you should think of your student debt as a “smart income tax”
How to be optimistic in a time of chaos and uncertainty

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Why Median & Average Student Loan Statistics Are Ridiculous Aug 24, 2021

If you’ve ever been told the average student loan debt for your program or degree, this episode is for you. Join me for a Q&A followed by a discussion on why focusing on median and average student loan debt statistics is a waste of time, and why those statistics cause all kinds of problems when it comes to higher education policy.

In today’s episode, you'll find out:

Listener questions about recent student loan volatility
How part-time hours can qualify you for PSLF
How to use strategic refinancing to repay your student loans
How to get your student loan questions answered by Travis
Why you probably shouldn’t expect student debt cancellation during the Biden administration
Possible changes to the PSLF program in the next few years
Why the average and median student loan statistic is extremely flawed
How to calculate the true cost of attendance for your program of choice
Why schools never disclose tuition inflation, loan fees, or interest fees
Why statistics aren’t reliable
Why you shouldn’t focus on student loan debt and what to focus on instead

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Navigating Today’s Crazy Housing Market Aug 17, 2021

Senior Consultant Rob Bertman, CFA, CFP®, joins me in this episode as we take a deep dive into the current state of the housing market.

With so many people on the fence about buying a new home this year, Rob and I tackle the most important things to consider before making that all-important decision.

Listen in as we discuss how to navigate unpredictable supply chains and fluctuating material costs when renovating your house, questions to ask yourself in the process of deciding whether to buy a house, and why homeownership is not the key to financial freedom — and what you should aim for instead.

In today’s episode, you'll find out:

Why the housing market is so volatile
Why current homeowners might be feeling lucky
How to manage house hunting in today’s market
Considerations around renovating your home
Why a lower interest rate results in a cheaper mortgage
Whether a market crash is inevitable
Common budget-related issues prospective homebuyers run into
Why homeownership is overrated when it comes to boosting your financial well-being

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How to Jump to the Next Rung of the Economic Ladder Aug 10, 2021

Many people feel like they need to make a higher income or invest more to advance to the next level of the economic ladder… but do you? Is it worth striving to become an upper middle class American? Join me as I discuss the various things you need to do at each income level (lower class through upper middle class) to break through to the next level and achieve financial security and wealth.

In today’s episode, you'll find out:

Quick tips to adjust your spending and monitor your income
The impact of the White House’s failure to extend the eviction moratorium
How to reach financial security if you’re a working class American
Money-saving tactics to stretch your income
The most common reason people go bankrupt or lose money
Insurance and healthcare benefits hacks for low income individuals
What to do if your debt is too big to handle
Why you should go back to school and get another degree, even if you have student loan debt
Top tips and advice for increasing your income and saving for retirement
What to expect in future episodes of the Student Loan Planner podcast

Links mentioned:

Mint.com Millionaire Next Door by Thomas J. Stanley

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How to Invest (Even If You’ve Never Done It Before) Aug 03, 2021

More important than what kind of student loan plan you have is knowing how to invest. Listen in as I talk to you about investing in this current economy amid red-hot inflation and a booming housing market. I’ll also explain that, while 2021 continues to hold a lot of opportunities, it's also a dangerous time to be investing now that everyone is in the game. Plus, get a discount code for our Six-Figure Debt to Six-Figure Net Worth investing course.

In today’s episode, you'll find out:

Why investing is so important
The definition of “harmonic mean” and why it matters in investing
How to use tax-loss harvesting to boost your portfolio
Risks to consider if you decide to invest today
My thoughts on crypto in the current market
All about SLP’s course, Six-Figure Debt to Six-Figure Net Worth, and how to take advantage of our limited-time discount

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The Debt Trap with Josh Mitchell Jul 27, 2021

In this episode, I’m joined by Josh Mitchell, a Wall Street Journal reporter and the author of the book The Debt Trap: How Student Loans Became a National Catastrophe to reflect on his observations in the higher education space and how the student crisis came to be.

Listen in as Josh explains why the process of taking out a loan is more “opaque” than that of every other credit product and the disruptions that need to take place in order for the current system to change for the better — as well as the repercussions of these disruptions to the wider economy.

In today’s episode, you'll find out:

How Josh was drawn to the student loan debt crisis
Why student loans are unlike any other credit product
Which is the bigger risk to the economy: the undergrad debt problem or the graduate school debt problem?
What needs to change to mitigate the student debt crisis—and the consequences of these disruptions to the wider economy
The future of lobbying for policy change in higher education
Student loan reforms that would minimize or even eradicate inequality

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What Happens When You Move States as a Student Loan Borrower? Jul 20, 2021

Moving is really stressful. I’d know, having just moved my family and me across the country! Now that the economy is starting to reopen, new opportunities mean that more people are moving to different states. In today’s episode, I discuss the factors that student loan borrowers should consider when making the decision to move states, whether for a job or to buy a house.

In today’s episode, you'll find out:

What to do if the IRS is slow to process your tax return
The EDRP program and when it makes sense Why you shouldn’t stick with a job just for PSLF
How solopreneurs can stay profitable while paying off their student loan
The impact of community property states on student loans
How moving to or from a community property state affects your student loan
How to move to a new state if your goal is to buy a house
Why moving to a new state can save you money on student loans

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Transforming How You View and Manage Money with Jesse Mecham of YNAB Jul 13, 2021

Jesse Mecham is the founder of YNAB (You Need a Budget). Referring to the business as “an education company that masquerades as a software company,” Jesse created YNAB as a guide to money and an accountability tool that helps its users improve their spending habits, eliminate debt, and save more money. Listen in as Jesse shares his path to success and lessons learned as an entrepreneur. We’ll also talk about his advice on financial planning and buying a house in 2021, saving and building your wealth as parents, and becoming more confident in your spending overall.

In today’s episode, you'll find out:

YNAB’s mission and how its software helps improve your spending
The most common questions and concerns people have around budgeting and cash flow in a post-pandemic world
How to navigate the housing market as prices continue to rise
YNAB’s Four-Rule Method that transforms how you view and manage money
How and when to give yourself permission to splurge on a big purchase, free of guilt
Considerations around childcare costs

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Emergency Pod: FedLoan is Fired, Now What? Jul 08, 2021

FedLoan, one of the government's biggest servicers, is ending its contract with the Department of Education in December 2021.

What does this mean for you?

Travis gives practical advice to get ahead of the problem.

We encourage you to send in your questions so we can answer them on the show: https://studentloanplanner.com/voicemail

Investing while in School Jul 06, 2021

As investing becomes increasingly popular and accessible, especially with cryptocurrency and NFTs, young adults and students are becoming more interested in making a passive income. But should you really be investing while in school? If so, what are the best ways to invest as a student?

Join Rob Bertman, CFA, CFP®, and Molly Laughter, MBA CFA, CFP®, to discuss whether or not investing while in college is a good idea, and how to approach investing, saving, and budgeting the right way.

In today’s episode, you'll find out:

How to lower your student loans in medical school
Benefits of investing early in life
Pros and cons of investing as a college student
What you need to know about compounding interest and your “time horizon”
Easy and efficient ways to invest and the best investing platforms and apps
How roboadvisors work – Should you use a roboadvisor?
Why investing and stock trading could decrease your productivity and performance in school
Tips for budgeting, saving, and leveraging credit as a student
Why you shouldn’t use your student loans to fund investments
Should you invest in a Roth IRA or stocks while in college?
Our candid thoughts on Acorns and similar money-saving apps
How to select the best types of investments that suit your goals and lifestyle

Links mentioned:

Fidelity Reviewed Which Investors Did Best and What They Found Hilarious

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Side Hustles and Their Impact on Student Loans Jun 29, 2021

Side hustles. Why are they getting more popular by the day? Is it worth the extra time, effort, and even money outside your primary job or business to get a side hustle? What’s the best way to start one as the economy opens back up? And how can the right side hustle serve as a great vehicle toward paying down your student loan? Listen in as consultants Molly Laughter, MBA CFA, CFP®, and Dan Rooker, CFP®, CSLP®, answer these questions and more.

In today’s episode, you'll find out:

What exactly is a “side hustle” and the “gig economy”?
The side hustles Molly and Dan have tried and are still doing
Different business structures (ex. sole proprietorship, LLC, etc.) and determining the most appropriate one for your side gig
The pros and cons of doing real estate as a side hustle
How your student loan will be impacted if you do decide to get a side hustle
How to know if starting a side hustle is right for you

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How to Define and Achieve Your New American Dream Jun 22, 2021

Historically, the American Dream was to simply own your own home. But in this day and age, is getting out of debt the new American Dream? Our consultant takeover continues this week with Meagan Landress and Dan Rooker who unpack that very question.

They break down current attitudes—many of which came about as a result of the pandemic—toward purchasing a home, investing, and paying down different kinds of debt. SLP publicist Brittney Lynn makes a guest appearance on the show to discuss how she was able to achieve her own American Dream—paying down $50,000 in debt, leaving the corporate world, and running a location-independent business from a van alongside her husband and two dogs.

In today’s episode, you'll find out:

Why asking, “If all things were possible, what would I do?” will bring you a big step closer to defining your American Dream
How to pay down your three “buckets” of debt and become financially secure
Pros to renting a home versus buying a home
How you can become financially independent while having a mortgage
Why you can reach your American Dream while having student loan payments

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Top Advice to Dads for Helping their Kids with Student Loans Jun 15, 2021

With Father’s Day just around the corner, Lauryn Williams sits down with Meagan Landress and Rob Bertman to offer advice to dads who are in the process of helping their kids with their student loans—whether by helping to pay them down or taking on the loan in their name altogether.

In today’s episode, you'll find out:

When and how to take on a Parent PLUS loan
Why you don’t need to pay extra toward your loans if you are going for forgiveness
Why it’s more productive to look at your kids’ loans individually instead of equally
Why parents should encourage their kids to take some responsibility for their debts
About the impact that our consultants’ own dads had on their finances

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What is the PSLF Snowball? [Rebroadcast] Jun 08, 2021

Only a small number of people were approved for PSLF in the first year of eligibility; I expect the 1% acceptance rate for PSLF is the lowest we will ever see and we should look forward to an increase each year.

The media has put out quite a few clickbait headlines on PSLF while sharing plenty of inaccurate information. PSLF became a major story in 2018, but I feel despite the backlash that the program is here to stay.

Today on the Student Loan Planner® podcast, we will be discussing Public Service Loan Forgiveness (PSLF) and how the approval rate will snowball to a larger percentage in future years.

In today’s episode, you’ll find out:

The truth about the high rejection rate for PSLF
Whether there is a massive number of PSLF borrowers coming in the future
Why many physicians aren’t eligible for PSLF anymore
PSLF structural flaws that can get ironed out over time
Why people were mainly rejected based on these 4 factors:

1. Had loans that didn’t qualify 2. Used the wrong repayment plan 3. Failed to include their employer’s EIN tax number 4. Failed to check a box on the form saying they were currently employed by a non-profit

For more information, visit the show notes at https://www.studentloanplanner.com/podcast-what-is-pslf-snowball

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Frequent Student Loan Fails and FAQs with Lauryn Williams, CFP®, CSLP® Jun 01, 2021

Join consultant Lauryn Williams, CFP®, CSLP®, as she addresses the two most common “frequent fails” around handling student loan debt and answers frequently asked questions from clients and podcast listeners. You’ll also learn more about Lauryn, her background, and how she went from Olympic medalist to financial planner.

In today’s episode, you'll find out:

What our consultants can help you with, aside from issues related to student loans
Why you don’t need to pay extra toward your loans if you are going for forgiveness
How to get a student loan refund if you’ve been paying extra during the payment freeze
What it means when interest capitalizes and why it can cost you more in the long run
Whether you should still contribute to a 401k if your employer does not match
How to contribute to a Roth IRA if you are married filing separately
What happens to your current retirement plan if you leave your employer
How much you should have saved in your emergency fund
Lauryn’s pick for the best budgeting tool
How to approach getting life insurance after having a baby
The power of mindset if you’re struggling with student loan debt or monthly bills
What to do if you’re feeling overwhelmed with your student loan debt

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The Model Minority Myth May 25, 2021

In celebration of May being Asian American and Pacific Islander Heritage month, Dan Rooker, CFP®, CSLP®, and Lauryn Williams, CFP®, CSLP®, talk about the “Model Minority” Myth.

As they unpack the cultural stereotypes, they dive specifically into how certain long-held beliefs and stigmas among the Asian American community tend to lead to costly education decisions which negatively affect their student loans and career choices, and uncover what we can do as a society to bring awareness to this crucial topic.

In today’s episode, you'll find out:

What the Model Minority myth is
Why lumping people together into groups is dangerous territory
The impact of stigmas, stereotypes, and cultural beliefs
What is “tiger” parenting and how it impacts education choices
How the pressure to conform can change your internal identity
Why you shouldn’t feel resentment when asking for a promotion
How to navigate leadership when you have minority-decent employees
How the Model Minority myth impacts student loans
Why Asian Americans are nudged into certain career paths
Who the Model Minority myth affects
The importance of sharing our stories and learning from others

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How to Get Ready to Spend Money Again Post Pandemic May 18, 2021

As much as we’re all itching to get back to normalcy in our day-to-day lives, we need to think about how we can ease back into spending on a daily basis without sabotaging the financial goals we’ve set for ourselves throughout the past year, particularly around student loans.

In today’s episode, Rob Bertman, CFA, CFP®, sits down with Lauryn Williams, CFP®, CSLP®, and Dan Rooker, CFP®, CSLP®, to discuss five steps to getting ready to spend money again in a post-pandemic world.

In today’s episode, you'll find out:

How to transition your finances in a post-pandemic world
The changes in saving and spending habits over the last year
Strategies financial experts used to manage their finances
How to prioritize your expenses as the world begins opening up
Practical steps to achieve greater financial stability in the new normal
How to make room for the resumption of student loan payments in October
How to spend responsibly as your income increases

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The Looming Legal Fight over Cancellation May 11, 2021

Have the chances of student loan debt cancellation increased in recent weeks? Yes. But it isn’t that simple.

Join me as I discuss the possibility of student loan debt cancellation, what it could mean for your repayment strategy, and why I think the looming legal battle over cancellation would create chaos.

In today’s episode, you'll find out:

Listener question: How your income impacts your IDR plan when filing taxes separately if you’re married
Listener question: Should you pay extra on your loan if you’re on the REPAYE plan?
My experience looking for housing in today’s market
Why student loan refinancing interest rates are still so low
Why there’s a high probability of student loan debt cancellation
The reason I think student loan debt cancellation won’t actually happen
How student loan cancellation would impact your repayment strategy
The legal review going on right now about whether the president has the authority to cancel student loan debt
Whether $10k or $50k will be cancelled and how it might happen
Why I think student loan debt cancellation is a distraction from the real problem

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The Challenges Women Face When Up Against Student Loan Debt May 04, 2021

It’s a consultant takeover! All of the ladies of Student Loan Planner, Lauryn Williams, Meagan Landress, and Molly Laughter, are talking more about the mental health survey.

There’s more to student debt than managing the numbers, and they’re going to unpack the challenges women face when they are up against student loan debt and while navigating life in general.

In today’s episode, you'll find out:

What is the mental health survey
The biggest factor in mental wellness when you have student loan debt
Why so many women borrowers have suicidal ideation because of student loans
How occupational segregation leads to higher debt to income ratios for women
How to purchase a home while paying down your student loans
Why you don’t need to stay in high-paying yet unfulfilling jobs as a borrower
Why having student loans shouldn’t hold you or your partner back from marriage
Why the “fast and furious” approach to paying down your loans is not recommended

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Putting Your Goals First and Student Loans Last Apr 27, 2021

Want the secret to life with student loans?

Join me as I talk with senior consultant Lauryn Williams on seven key life goals that should take priority over your student loans, whatever your circumstances in life.

That’s not to say you should let your loans go into default while going after your goals, but we don’t recommend you sacrifice your dreams because of student loans.

There is a better way!

In today’s episode, you'll find out:

Why sacrificing your goals isn’t as effective as you might think
Why borrowers put their life goals on the back burner
The key to finding happiness and success in your career while having student loans
How income-driven repayment plans can help you safely take on additional debt to get a second degree
Why student loans shouldn’t stop you or your partner from getting married
How to purchase a home while paying down your student loans
How to raise a family and live a comfortable life while navigating your student loans
Why it’s okay to start your own business or practice as a borrower
How to live anywhere in the world even if you have student loans

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The Mental Health Burden of Student Loans Apr 20, 2021

Student loan borrowers face enormous mental health challenges. Our mental health survey of student loan borrowers found that 1 out of every 14 borrowers considered suicide because of their student loans. Listen in as Student Loan Advisor and consultant Meagan Landress CSLP® and I tackle the tough topic of mental health burdens that many borrowers experience. We’re discussing the results of our survey, sharing our thoughts on the various factors that may be contributing to these issues, and our advice to borrowers who are suffering anxiety and depression due to student loans.

In today’s episode, you'll find out:

How to manage negative thoughts around student loan debt
Why student loan debt doesn’t make you bad or irresponsible
Coping mechanisms to manage stress and anxiety
What we mean when we say, “Student loan debt isn’t really ‘debt’; it’s more of an income tax”
Why PSLF isn’t broken
Who suffers the most under the weight of student loans
Our thoughts on the growing problem of the number of borrowers who owe six figures in federal student loan debt
Why a passive, long-term approach to debt can mathematically make more sense
About the unique impact of student loan stress on women and people of color
Common concerns borrowers have about PSLF
What we think would need to happen to fix the student loan crisis
Our recommended resources for those experiencing mental health issues with regard to their student loans

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Can You Settle Your Debt? Apr 13, 2021

Join me and special guest Christie Arkovich who has specialized in helping clients get through financial hardships since 1995. Christie was a champion of the student loan system working for Sallie Mae during the early stages of her career but came to realize that the system is broken. We talk about her work for Sallie Mae and why she “switched sides” to help borrowers navigate the many complexities of the student loan industry.

In today’s episode, you'll find out:

How student loans used to work with government-guaranteed private lenders
A brief history of FFEL loans and why they’re so profitable for lenders
Why Direct Loans are the only ones getting government protection under the CARES Act
What a student loan stimulus package might include
What to expect on student loan forgiveness within the current administration
How loan rehabilitation via the CARES Act could be a historic opportunity
How COVID has accelerated total and permanent disability applications for student loans
How to spot student loan forgiveness scams
Why you need a student loan advocate on your side to navigate forgiveness of student loans
Possible negative consequences for graduates of nonprofit schools applying for borrower defense to repayment
What you need to know about statute of limitations and private student loans
Who could benefit from the services of a student loan attorney like Christie
Will forgiveness for income-based repayment programs eventually be tax-free

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Will Rising Interest Rates Hurt Me? Apr 06, 2021

If you’re someone with a lot of student loan debt, you’re probably more familiar with the negatives around interest rates. But borrowing money isn’t necessarily a bad thing, and interest rates are a much more interesting and important topic than you might think. I’ll break down what interest rates are, why they’ve been rising steadily in recent months, and give you some guidance on making big decisions that will impact your financial future.

In today’s episode, you'll find out:

How interest rates are set in the economy
The different between term premium and credit premium
Why borrowing money costs more than paying with cash
When it makes sense to borrow instead of saving and paying with cash
Why student loans cost more than mortgages
How pawn shops and payday lenders prey on the poor
Why student loan interest rates are usually lower if you refinance
Why interest rates don’t matter if you’re pursing PSLF or long-term forgiveness
Why the government might focus on cancellation vs. lowering student loan interest rates
My prediction on student loan interest rates for 2021 and 2022

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Beware Hidden Agendas in the Student Loan Industry Mar 30, 2021

With so much conflicting information out there about the student loan crisis, it literally pays to have some healthy skepticism when asking for guidance on your specific situation. Listen in as I share the five types of groups who you should be slow to trust when it comes to their advice on your student debt.

In today’s episode, you'll find out:

Why some businesses don’t prioritize finding you the best strategy
When it pays to make things a little more complicated
When double debt rules and double consolidation makes sense
Five types of groups with hidden agendas in the student loan industry
The reason servicers don’t give accurate or good advice on student loans
Why Reddit isn’t the best place for student loan advice
How to see past misleading talking points made by brands
What happens if you refinance and you shouldn’t have
Why a lot of debt-free advice doesn’t apply to student loans
Why free information is rarely ever the best information
Why you should be beware what even nonprofits and schools tell you about your debt

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Student Loan Forgiveness Is Tax-Free Now. Or Is It? Mar 23, 2021

The American Rescue Plan, signed into law on March 11, makes student loan forgiveness tax-free until the end of 2025. That’s a big deal for borrowers on long-term forgiveness.

I talk about the implications of this game-changing provision and addresses several potential questions and concerns from our listeners.

In today’s episode, you'll find out:

What to know about the American Rescue Plan as it pertains to student loan debt
Who is eligible for tax-free student loan forgiveness under this new law?
What’s behind the misleading headline showing only 32 people qualified for forgiveness
What this most likely temporary provision means for borrowers in the long-term
The positives of eliminating taxes on student loan forgiveness
Whether borrowers should expect tax-free forgiveness
When is the right time to refinance your student loan

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Is 2021 a Bubble for Investing? Mar 16, 2021

Wondering what’s going on with the financial markets? I’m joined by consultants Rob Bertman CFA, CFP® and one of our newest consultants, Molly Laughter MBA, CFA, CFP® to examine whether we’re in a bubble. The three of us have a variety of experiences handling billions of investment dollars. We’re doing a technical deep dive into what is going on with the financial markets and what the investment landscape in general is currently like. And most importantly, talking about what it all means for investors and student loan borrowers.

In today’s episode, you'll find out:

Are we in a bubble? And if so, why should you be thrilled
Why tech have been killing it in the stock market
What is a “special purpose acquisition company” (SPAC)
How an automatic investment plan is a great antidote to fears of a bubble
Is buying bonds dumb right now
Our thoughts on robo-investing and Robinhood
Day-trading vs long-term investing
When you invest in an index fund, what are you actually buying
Valuation and why it matters… or doesn’t
Why deleveraging is always a good plan
Should you refinance federal student loans this year?

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What You Need to Know About Taxes in 2021 Mar 09, 2021

Did someone say “tax party?” I’m joined by Lauryn, Meagan and Dan, one of our newest consultants, on the podcast to discuss taxes. We talk about 2020 taxes and things to keep in mind as 2021 unfolds, including the student loan interest deduction, best practices for your traditional or Roth IRA in 2021, how to make full use of the small business deduction, what you need to know about married filing separately versus married filing jointly and much more.

In today’s episode, you'll find out:

Challenges presented by this year’s student loan interest deduction
New guidance on how lump sum payments by employers might qualify for certain forgiveness programs
What you can do with your traditional or Roth IRA before the end of the year
The worst-case scenario if you screw up your taxes
How to take advantage of the small business deduction
What to know about income-driven repayment plans
The strategy behind married filing separately versus married filing jointly
How amended returns can potentially save you money

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Will President Biden Block Student Loan Cancelation? Mar 02, 2021

When President Biden was asked at his first town hall whether he would forgive at least $50,000 of student loan debt, he quickly responded, “I will not make that happen.” The president is in support of canceling $10k for borrowers, but there’s a catch. Student Loan Planner Consultant Meagan Landress joins me to unpack why the president said what he did, what it means and what borrowers might expect in the next four years.

In today’s episode, you'll find out:

How President Biden addresses the question of student debt
Why President Biden isn’t behind canceling $50k of student loan debt
How it would cost to cancel $10,000 of student loan debt for every borrower
Who would be able to avail of student debt forgiveness under President Biden’s terms
Why might President Biden support 0% interest rates permanently
Why this talk around student loan reform is treating the symptoms and not the root cause
Will your student debt be cancelled? Why or why not?
What you can expect as an alternative if student loans are not canceled
When it makes sense for borrowers to refinance

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The Perfect Income for Peak Happiness as a Student Loan Borrower Feb 23, 2021

Do you wonder if you made the right decision to go into the field you did?

After investing years of time and effort, along with hundreds of thousands of dollars in student loan debt, do you ask yourself “is the grass greener on the other side?”

Join me as I take a deep dive into what peak happiness might look like, how to deal with job regret and the perfect income to achieve maximum happiness as a student loan borrower.

In today’s episode, you'll find out:

What is “the grass is greener syndrome”
Pros and cons of physician mortgage (or doctor mortgage) loans
How to pay down your student loan using gains from stock market training
Whether to double-dip on the federal poverty line deduction when filing taxes separately
The perfect income you need to earn to reach peak happiness
Why your level of engagement at work is a huge factor in attaining your perfect income
How to calculate your perfect income depending on your current student debt
How to deal with job regret
Ways to overcome unhappiness with your profession

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Is It Ever a Good Idea to Abandon Student Loan Forgiveness? Feb 16, 2021

A big focus of our podcast is maximizing loan forgiveness when you owe a lot more than you earn in student loans. But what if your income grew to a point where it would cost more if you stuck with forgiveness? Should you abandon student loan forgiveness? Join me as I discuss all you need to consider when making the decision to pay off your loan and abandon forgiveness.

In today’s episode, you'll find out:

How much money you need to make to consider abandoning loan forgiveness
Why you should not abandon PSLF if you have accumulated qualifying credit towards forgiveness
Why staying on forgiveness might be the best decision even when you can pay off the loan
The circumstances that might force you to abandon forgiveness and pay off your loan
The revised debt to income ratio for when it makes sense to pay off your loan
How to know when forgiveness is no longer a good option
Why you shouldn’t take a job just because it offers student loan forgiveness
What would be the effect of a new PAYE plan with no tax bomb
Why you might be unlikely to get student loan forgiveness
Why your savings rate is the most important thing when thinking about abandoning forgiveness
The reason why you should take the 20-year REPAYE plan if you go for repayment
Why Biden’s student debt cancellation promise might not happen

Full show notes at: http://studentloanplanner.com/116

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Be a Clydesdale, Not a Pony: Why Borrowers Shouldn’t Be Afraid of Taking More Professional Risks Feb 09, 2021

What do student loans have in common with the Budweiser Clydesdales? You know, those massive and powerful bay-colored draught horses that you see in Bud advertisements?

Forgive the analogy, but you are a Clydesdale. You have more power than you think to steer your professional and, yes, financial destiny.

Join me as I make the case that you may be underestimating your ability to handle the load of student loan debt by discussing why our student loan system is, literally, an income tax you can buy your way out of.

In today’s episode, you'll find out:

When to certify your income for forgiveness
Why you should consider amending tax returns if you’re married
The best time to apply for the PSLF benefit
The definition of full-time work for PSLF purposes
Why the best time to get student loan help is as soon as possible
What to do if married couples with student loans can’t afford to file tax returns separately
Looking at federal student loans as an income tax that you can buy your way out of
Why moving from California to Nevada can practically cancel your student loans
Why the student loan payment and interest pause is unnecessary for 95% of grad students

Full show notes at: http://studentloanplanner.com/115

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My Thoughts on What President Biden’s Interest and Payment Freeze Means for the Future of Student Loans Feb 02, 2021

President Biden extended the student loan interest and payment freeze for federal student loans on the first day of his presidency.

Find out what the freeze means and how you may be affected by it.

I’ll also talk about the long- and short-term implications of refinancing your student loans in this environment and if you should take advantage of the low interest rates and break down the student loan legislation we might see from the Biden administration in the future.

In today’s episode, you'll find out:

When your next student loan payment might be do
How long the student loan interest and payment freeze will last
What I think it means for the Biden administration’s stance on student loans
What the post-election path forward looks like for Republicans
The fate of the eviction moratorium
Details about President Biden’s February infrastructure bill
What you need to know about Biden’s student loan interest payment suspension
Why I don’t think Biden will cancel more than $10,000 of student loan debt
Which loans got left out of the student loan interest freeze
How much the interest freeze will cost
When refinancing your student loans makes sense
The implications of refinancing student loans in the current environment
Student loan legislation and future bills and reform we might see

Full show notes at: http://studentloanplanner.com/114

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Ron Lieber, NY Times Columnist, on Debunking the Complexity of College Education and the Financial Aid System Jan 26, 2021

After navigating the system and successfully applying for financial aid, New York Times columnist, personal finance expert and author, Ron Lieber made it his life’s mission to demystify the complexity and help students and their families discover smart ways that they can “beat the system” to get the best value at a reasonable cost. We also discuss his book, The Price You Pay for College, that was released today.

In today’s episode, you'll find out:

How colleges financially take advantage of incoming college students
The one hack Lieber says you need to pay less for college
How to ask for a financial aid appeal to get more money for college
How financial aid is disproportionately disadvantages low-income students and people of color
What is merit aid and how did it become so popular at colleges
Why state universities have honors colleges
Whether an honors college is worth it
Why using adjuncts and non-tenured positions don’t lower tuition costs
What is ‘administrative blot’ and why it’s good for students
How college choice impacts the person your marry
Why Lieber doesn't think the tax bomb is going to be as big as you think
The reason Lieber thinks raising federal borrowing limits can help borrowers
Why you should assume your servicer will screw up the reinstatement of your loan payment
What Lieber predicts will happen to student loans in a Biden administration
Where to get a copy of Lieber’s new book, The Price You Pay for College

Full show notes at: http://studentloanplanner.com/113

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Feeling Frustrated About Your Student Debt? Here’s the High Cost of Student Loan Complexity Jan 19, 2021

It’s no secret that student loan debt affects people’s lives — and not in a good way. The ever-increasing student loan debt is a major cause of frustration and stress for many college graduates in America. Why is that? Who benefits from student loan complexity? Join me as I discuss why you need to know the complexity behind student loans and who are the biggest beneficiaries.

In today’s episode, you'll find out:

Why you need to know the complexity behind student loans
How student loan complexity can benefit borrowers
Why student loans are as complex as they are
When the student loan interest rate is irrelevant
How borrowers overestimate the accumulated interest
Why student loan interest isn’t the real problem - and what is
How knowing the rules can give you control over your student debt
The myth that says you can’t control your own future
How your student loan balance grows with capitalized interest
How forbearance can double your student loan balance every 10 years
The one-step plan to making sure your debt doesn’t stress you out anymore
Why student loan debt cancellation will never happen
How dental service organizations profit off the high cost of education
The way banks profit off the system by offering private student loans
The role of loan servicers in student loan complexity
Why student loans don’t have to be scary or frustrating and what to do about it

Full show notes at: http://studentloanplanner.com/112

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Get Rich When You Can't Predict 2021 Jan 12, 2021

2020 was a strange and unprecedented year for the entire world. But especially for the United States, it seemed like everything that could go wrong went wrong in 2020. And though we have been thoroughly tested, we remain hopeful for a better future. So how can we invest wisely and create wealth despite the commotion in the world around us?

In today’s episode, you'll find out:

If you would have known what would happen, what would you have done differently in 2020?
How the Dow Jones performed in lockdown
Why successful stock traders often get things wrong
What is momentum investing
Why past investment performance doesn’t predict future results
How undervalued stocks impact investing strategies
How interest rates can influence the companies you invest in
The role of risk in investing
How to balance high growth with the potential of high risk

Full show notes at: http://studentloanplanner.com/111

Links mentioned: Six-Figure Debt to Six-Figure Income

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Save for Your Kids Education Using a 529 College Savings Plan Jan 05, 2021

More than half of college attendees in the US take out student loans. Imagine saving your kids from the financial burden of student loans without being super-rich. It’s possible with a 529 plan. In this episode, I talk about 529 plans, how they work and why they’re a smart way to save for you kids’ college education.

In today’s episode, you'll find out:

What a 529 plan is
The two types of 529 plans to consider
How to save your kids from the burden of student loans
How much to save each month to pay for your kids’ college
What is a UTMA/UGMA account
What tax benefits come with saving with a 529 plan
Tax penalties to watch out for with a 529 plan
What happens to the money if your kid doesn’t go to college
What is the rule of 72 and how it can double your savings
Which states allow you to open a 529 plan anywhere
What to do before opening a 529 plan

Full show notes at: http://studentloanplanner.com/110

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Best Student Loan Repayment Strategy Tips by Occupation Dec 29, 2020

We’ve created over 5,000 custom student loan repayment strategies for clients. In this episode, I’m sharing the best repayment tips by occupation. Find out what most borrowers in your profession do with their student loans and how best to pay them off.

In today’s episode, you'll find out:

The one repayment strategy people don’t talk about
The best student loan tip for physicians
How filing taxes can save you money on student loans
Why dentist student loan debt varies so much
How to make the most money as a veterinarian
What’s the best student loan strategy for lawyers
Which colleges I think are the most deceptive
Why forgiveness makes sense for chiropractors
The one forgiveness program teachers shouldn’t use
Why psychologists should go after forgiveness
How physical therapists should repay their loans
Student loan tips for optometrists, social workers and more

Full show notes at: http://studentloanplanner.com/109

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Why Your Student Loan Strategy Depends on Where You Live Dec 22, 2020

One of the most critical decisions you have to make as a student loan borrower is where to live and work. Join me as I talk about how the location you choose greatly influences your income, your costs and the opportunities available to you for paying back your student loans. The key is to optimize your loan plan for what you want and design your student loans around your life goals.

In today’s episode, you'll find out:

How location impacts whether you should refinance
The best cities for student loan forgiveness
Why living in a big city could cap your income potential
Common traits of healthcare professionals earning over $600k
Costs that impact profit when you open your own practice
How rural areas can increase employee loyalty in your practice
Why you can charge more when there’s little competition
Whether you should refinance your loans or pursue forgiveness
Factors besides student loans that can influence where you chose to live
The key to optimizing your loans for what you want

How to design your student loans around your life

Full show notes at: http://studentloanplanner.com/108

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Fighting Debt with Weapons from the Last War Dec 15, 2020

It doesn't matter how good you are with the sword if you are up against an artillery of guns and other munitions. In the same way, you cannot approach your student loan debt the same way your 60-year-old uncle or your parents approached it. Here’s how to take advantage of the new weapons in the war on student loan debt.

In today’s episode, you'll find out:

How WWI compares to student loan debt today
How to make big money as a professional
The argument against “suck it up and pay your student debt”
The big jump in dental school tuition that’s 55x more than in 1978
Why big incomes aren’t worth the sacrifice
Why educational leaders hike up graduate tuition
How regulation could stabilize higher education
When to know if you should refinance
How the refinancing ladder works
Where to find the best refinancing bonuses
Why forgiveness is a great strategy for borrowers with high debt
How much to save if you want to have a comfortable retirement
The many strategies, or new weapons, to tackle student loans

Full show notes at: http://studentloanplanner.com/107

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Student Loan Repayment, Student Debt Cancelation and Justin Sloan, CFA, CFP, from Buckingham Strategic Wealth on How to Save for Retirement Dec 08, 2020

Lots of topics to cover in this episode - I answer reader questions about student loan repayment and the best strategies for dental specialists.

We also dive into what I think about the chance of Biden forgiving student loan debt and what that could mean for your taxes, and we have an interview with Justin Sloan, CFA, CFP, about asset allocation and the best way to save for retirement.

In today’s episode, you'll find out:

Why dental specialists have higher student loan debt than other borrowers
How to handle student loan repayment during residency
What to do if you didn’t file a tax return because you had $0 income
How to make a $0 monthly payment on your student loans during residency
Whether REPAYE or PAYE makes more sense for repayment
What to do about accrued interest on your student loans
When paying extra on your student loans is like throwing money away
Why it doesn’t make sense to pay extra toward accrued interest
Will Biden cancel some student loan debt
Can student debt cancellation be done legislatively
What happens if Biden issues an executive order canceling student loan debt
Why canceled student loan debt could cost you more money
How to best save for retirement
The importance of asset allocation and diversifying your savings vehicles
Why your 401k isn’t enough
How to get financial flexibility when preparing for retirement

Full show notes at: http://studentloanplanner.com/106

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Why The First Degree to Cost $700,000 is Worth It Dec 01, 2020

Your student loan balance at the end of your program can balloon more than you thought you’d end up with. Find out how that happens, why I think America’s first $700,000 dental degree is worth it and why your student loan debt doesn’t matter as much as you think.

In today’s episode, you'll find out:

The hidden cost of higher education
How tuition inflation impacts students
How much accrued interest adds to your loan
Why your loans balloon so much while you’re in school
How to calculate tuition inflation using the Wayback Machine
Lies admissions counselors tell you to convince you to enroll
How NYU can charge $700,000 for a 4-year DDS degree
Why expensive law schools, medical schools, dental schools and other professional degree programs cost so much
How your student loan payment can be the same for $700k and $200k of debt
When to look at student loan debt as a tax instead of a debt
Why I think the tax bomb will disappear in a few years

Loopholes to maximize IDR plans and pay 5% of your income

Full show notes at: http://studentloanplanner.com/105

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Declining Reimbursement Rates, plus What Trump's Finances Show About Student Loans Nov 24, 2020

If you’re facing a potential salary decrease due to decreasing insurance reimbursement rates, you can start to worry about paying your student loans. In this episode, I talk about steps to take to mitigate the impact and what you can do if you’re in this situation. I also cover lessons you can learn about managing your student loans from Trump’s finances.

Find out how to lower your tax liability and save money on your student loans using lessons from Trump’s tax records.

In today’s episode, you'll find out:

How Medicare reimbursement decreases can impact salaries in healthcare
The ripple effect of reimbursement cuts on student loan payments
How to deal with salary cuts when you have student loan debt
Why I think the tax bomb won’t be a problem because it won’t be collectible
How healthcare business owners might be impacted by reimbursement decreases
Lessons from Trump’s finances as reported by the New York Times
How to reduce your tax liability when the tax bomb comes due
Why real estate is a great strategy to lower your tax liability
How to get out of paying taxes on the forgiven balance of your student loans
The benefits of tax-loss harvesting
How to use retirement contributions to lower your tax bill
Strategies business-owners can use to decrease their tax liability

Full show notes at: http://studentloanplanner.com/104

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What President Biden Might Do to Student Loans Nov 17, 2020

Each state is working to certify the official election results, but we have an apparent winner in President-Elect Joe Biden. Given the history of Obama-Biden student loan policies, it’s likely that we’ll see some progressive changes that could affect the future of student loans.

Here are seven things that a Biden administration may try to achieve, and my thoughts on how that could affect the treatment of student loan debt going forward.

In today’s episode, you'll find out:

What a Biden administration could mean for the future student loans
Why Biden might make applying for bankruptcy for student loans easier, and why it doesn’t matter
What forgiveness might look like under Biden’s plan for borrowers
What a compromised forgiveness expansion might look like
Why reducing IDR payments could be bad for everybody
How the REPAYE program was born and what that could mean for student loan reform
How increasing Pell Grants could be a big win for working class or lower-income families
Why eliminating the tax bomb likely won’t happen in the next 4 years
How making college free would cause the cost of tuition to skyrocket
Why I think Biden’s team grossly underestimated the cost of their student loan plan
Will Trump extend the student loan interest and payment freeze
When you should refinance your federal loans
Whether you should refinance even if your interest is 0%

Full show notes at: http://studentloanplanner.com/103

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Why Your Retirement Accounts Don't Matter Nearly As Much As You Think Nov 10, 2020

People love retirement accounts.

If I had a dollar for every time someone got excited about contributing to their backdoor Roth IRA, I would probably be a millionaire.

While it’s great energy to have, it’s not that important to your long-term financial future. In this episode, I share my thoughts on why your retirement accounts don’t matter nearly as much as you think.

In today’s episode, you'll find out:

Reader question: Are student loan repayment grants worth it?
Reader question: Two key differences in employer student loan programs
Reader question: Can you prepay or make lump sum payments for PSLF?
Why backdoor Roth IRAs aren’t as great as you think
My shocking confession about backdoor Roth IRAs
When retirement accounts actually DO matter
Why age 50 is a key milestone in your retirement plans
Why retirement accounts can’t help you if you want (or need) to retire early
How to use a brokerage account as a financial safety net
What to do if you want to be financially independent
How low-income individuals can reach early retirement
Why you shouldn’t optimize every financial decision

Full show notes at: http://studentloanplanner.com/102

Links mentioned:

StudentAid.gov PSLF guidelines Physician on Fire guide to backdoor Roth IRAs 

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5 Biggest Risks To Your Finances Post-Election Nov 03, 2020

With the election looming, we’re all anxious about what might happen. And with that, a public service announcement: If you haven’t voted, please go vote! Regardless of who wins, there are risks to your finances post-election. I’m sharing the five biggest risks that you should pay attention to - and how to overcome them - once the election season is over.

In today’s episode, you'll find out:

How candidate policy changes could impact your finances
Why you shouldn’t worry about finishing your education
How going back to school can help you financially
How professional credentials can boost your career
Why getting more education is key to financial success
Why inflation might not be a bad thing
How to know if now is a good time to buy a house
How to use low inflation to your advantage as a renter
What might be coming down the pipe for student loan reform
Why I think the tax bomb will go away in the next four years
When to refinance no matter what happens with the election
Why financial setbacks won’t matter that much in 2021
How to make better decisions to minimize the financial impact of political leaders

Full show notes at: http://studentloanplanner.com/101

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What Will Happen to Student Loans After the Election? Oct 27, 2020

For this milestone 100th episode, I’m joined by all four consultants. Because we’re just one week away from the election, I’m talking with them about the election and what we expect could happen to your student loans regardless of who wins the 2020 presidential election.

In this episode, you'll find out:

A recap of Travis’ paternity leave
Travis’ preferred brand of diapers for his new baby
The difference between a “trip” and “vacation” when you’re a parent
The probability of there being a “blue sweep”
How the Biden plan could impact student loans going forward
Bipartisan support that we’ve seen during stimulus discussions
How long we think the payment and interest freeze can last
Will the consultants get a COVID vaccine when it’s released
The impact of inflation of your financial life and spending plans
The role of gambling and trading cards in the pandemic

Full show notes at: http://studentloanplanner.com/100

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Back to Basics: What You Need to Know About IDR Plans Oct 20, 2020

Justin Harvey, CFP®, and Rob Bertman, CFA, CFP®, explore income-driven repayment (IDR) plans, how each can affect your financial future, and strategies to help you maximize your student loan repayment and keep more money in your pocket.

In today’s episode, you'll find out:

What the IDR payment cap is and what plans have one
Which IDR plans are best for physicians and other high-earning professionals
How the Standard Repayment Plan can factor into your IDR plan
Which plan is best if you expect a big jump in income
The two main strategies you need to pay off student loans
When it makes sense to refinance
When it’s okay for your student loan balance to grow over time
When you should - and shouldn’t - pay extra on your loans
What percentage of income each IDR plan uses for their monthly payment
How long taxable forgiveness takes
The impact of spousal income on student loan payments

Full show notes at: http://studentloanplanner.com/99

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Scary Student Loan Stories Oct 13, 2020

Is there anything scarier than student loans? With Halloween just around the corner, student loan experts Lauryn Williams and Meagan Landress share scary updates from 2020 and terrifying student loan stories.

In today’s episode, you'll find out:

An update on student loan changes so far this year
If student loan payments will be suspended after December 31
Should you recertify your income-driven plan before the end of the year
Why recertifying your income now could be a smart strategy
What to do if your mortgage broker won’t qualify you for a mortgage
How to handle student loans if you think bankruptcy is your only choice
What happens if you pass away with a student loan balance
Can disabled veterans have student debt discharged
What to do if you have FFEL loans and want to qualify for PSLF
How to figure out how long you’ve been in an income-driven plan

Full show notes at http://studentloanplanner.com/98

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Your Student Loan Questions Answered Oct 06, 2020

We have seen a lot of changes to the student loan system over the last few months. The Student Loan Planner team of consultants - Meagan Landress, Lauryn Williams, Justin Harvey, and Rob Bertman - are following the changes to keep you up to date. In this episode, they’re answering your questions to give you the low-down on student loans.

In today’s episode, you'll find out:

How your payments are calculated if your income goes up
How a partial financial hardship factors into your payments
Can your servicer kick you off an income-driven repayment plan
Pros and cons of employer student loan benefit packages
Whether student loans can be discharged in bankruptcy
How to take advantage of student loan relief
Should you consolidate your FFEL loans
How to lower your student loan payments if you’re struggling to pay
Will schools lower tuition because of virtual classes

Full show notes at http://studentloanplanner.com/97

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Best Tips for Financial Planning: How to Balance Saving, Investing, and Paying off Debt with Student Loans Sep 29, 2020

Student Loan Planner consultants Rob Bertman and Meagan Landress share their best tips to find balance with budgeting, saving, investing, and paying off debt without sacrificing your quality of life.

In today’s episode, you'll find out:

The right balance between paying off debt and saving for the future
The one thing you need to set yourself up for financial independence
Why Landress thinks zero-based budgeting is exhausting and what she does instead
Bertman’s 3-step process to setting up the perfect budget
Strategies to realistically reduce how much you spend each month
Why experimenting with budgeting methods can help you long-term
How to find balance with your finances as a couple
Should you take savings out of the bank to pay off your credit card debt
How to prioritize your private student loans with income-driven repayment options

Full show notes at: http://studentloanplanner.com/96

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Unique Student Loan Considerations for Physicians Sep 22, 2020

Physicians often ignore their student loan debt because so much of their brain space and emotional energy is dedicated to their vocation of medicine. In this episode, Student Loan Planner consultants Lauryn Williams and Justin Harvey explore unique student loan considerations and strategies for physicians.

In today’s episode, you'll find out:

An inside look at Justin and Lauryn’s personal lives
How Justin and Lauryn each met their spouses
Mental health challenges and compartmentalization physicians face
Why it’s bad advice to ignore student loan debt during residency
Specific strategies to get in front of student loan debt during residency
How a student loan consult during residency saved one physician $80k
Considerations anesthesiologists must face when choosing employment
When working at a hospital might not qualify an anesthesiologist for PSLF
Why it might make sense to refinance your physician student loans
Why mental health matters in your student loan repayment plan
The importance of “following the money” for financial advice

Full show notes at: http://studentloanplanner.com/95

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The Good, the Bad, and the Ugly About Student Loans and Your Personal Finances Sep 15, 2020

With Travis on paternity leave, the consultants are taking over the Student Loan Planner Podcast.

All four consultants come together to share the good, the bad, and the ugly about student loans and your personal finances.

In today’s episode, you'll find out:

Who are the Student Loan Planner consultants
How to make a career change when you have student loans
How bad advice from a friend cheated a client out of qualifying for PSLF
Sometimes letting your balance grow over time makes sense
How to pivot your student loan plan as your life changes
The importance of keeping your options open
Why every married couple in a community property state needs a consult
Why you need to invest in yourself to accomplish financial goals
How living abroad can erase your monthly student loan payment

Full show notes at: http://studentloanplanner.com/94

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How to Love Your Job (Or Leave It) - Despite your Debt Sep 08, 2020

If you’re frustrated with your job and dreaming about making a change, this episode is for you. I’ll show you the 3 traits you need to learn to love your job. And if you can’t? That’s okay because we’ll talk about the steps you can take to leave your job and do something you love.

In today’s episode, you'll find out:

How to boost your happiness long term instead of just temporarily
How to find gratitude despite student loan debt
Why comparison is the thief of joy
Why you shouldn’t worry about imposter syndrome
How to feel capable of achieving your goals despite your loans
Why I left my job in corporate America
Steps you need to take to make a change in your career
Why you need money even though it can’t make you happy
Why it’s okay to go back to school and get a different degree
Why you can pursue your passion when you have student loan debt

Full show notes at: http://studentloanplanner.com/93

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Best and Worst Jobs During the Pandemic Sep 01, 2020

The pandemic has brought a significant amount of stress into our lives. For borrowers already feeling pressure because of high student debt balances, this might be the breaking point. Which professions regret their career the most? And is it because of the pandemic or because of student loan debt? I reveal what our listeners say are the best and worst jobs during the pandemic.

In today’s episode, you'll find out:

“Career regret” survey results from 3,000 professionals Why 3x as many people regret their career because of student loan debt Who has the biggest career regret because of coronavirus The best jobs to have during the pandemic Which profession wishes they could get a “do over” because of student loans The key factors that make careers more pleasant during the pandemic The best profession for not worrying about student debt Religious workers can now qualify for PSLF Real quotes from listeners about job satisfaction Why PTs aren’t respected as being a doctor The 2 clear paths to student loan repayment for physicians What to do if you’re unhappy in your career

Full show notes at: http://studentloanplanner.com/92

Links mentioned:

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How Student Loans are like being a California or New York resident Aug 25, 2020

From the perspective of what you’ll have to pay on your student loans, the worst that can happen isn’t any different than being a resident of California or New York City. Student loans aren’t a debt sentence. If you have a plan in place, life can be pretty good with student loans. I explain why student loans are like a tax, and also answer a few listener questions about student loans.

In today’s episode, you'll find out:

Listener question: Should you take out the max student loans this year?
Listener question: How to refinance as an international student?
The wage gap between college graduates and non-college graduates
Why college demand has gone up in the last 10 years
How the federal government is driving up the cost of education
How the cost of living in California and NYC is the same as paying on student loans
Why I think the tax bomb will be eliminated someday
How someone with $250,000 in student loans is better off than someone who’s mom or dad paid for their education completely
Why your student loan debt is like a tax and not a debt

Full show notes at: http://studentloanplanner.com/91

Links mentioned:

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What the Trump Student Loan Order Means Aug 18, 2020

In addition to Joe Biden announcing Kamala Harris as his running mate, President Trump issued a student loan order. Trump’s order extended some of the relief of the CARES Act but it also comes with some confusion.

In this episode, I’m giving a rundown of the impact it could have and what the order means for you.

In today’s episode, you'll find out:

Overview of recent events in Washington, DC
What Kamala Harris thinks about student loans
Which programs Harris thinks should be expanded
What I think will happen to student loans if Biden wins
Why Trump’s student loan order might not be legal
Why economic hardship deferment matters when the CARES Act ends
The truth about whether payments will resume in October
How the suspended payments work under Trump’s student loan order
Whether the months after September 30th count toward forgiveness
What happens to borrowers in default
My advice on what you should do based on Trump’s student loan order

Full show notes at: http://studentloanplanner.com/90

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Pandemic Recession Investing Q&A Aug 11, 2020

Knowing how to handle your student loans is only part of the equation. You must also know how to invest so that, one day, you’ll have so much net worth that having student loans is irrelevant.

Join me as I go through several listener-submitted questions about how to invest with student loans, and how the pandemic recession might impact your strategy.

In today’s episode, you'll find out:

What to do if you don’t have access to a 401k or 403b
When I don’t recommend becoming a landlord
My advice for a side hustle for extra income
What to do if you get a big windfall
The most important metric to consider before investing
How to read a mutual fund fact sheet
Why the investment returns don’t matter
The best way to invest for your child’s education
How pandemic recession investing compares to investing during the Spanish Flu and the Great Depression
Why does the stock market not reflect the current economy
Can dentists rely on their private practice as their retirement plan?
How to manage your investments when the tax bomb comes due

Full show notes at: http://studentloanplanner.com/89

Links mentioned:

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Should You Stay in a Job Because of Loan Forgiveness? Aug 04, 2020

Changing jobs can lead to more than changes in your income. It could disqualify you from PSLF. But what if you’re in a job that makes you unhappy? Should you stay? In this episode, I answer those questions and more to help you decide if moving to the private sector is worth it.

In today’s episode, you'll find out:

What to do if you feel trapped in your public sector job
When is staying with a not-for-profit the best choice
How to decide if abandoning PSLF is a financially sound decision
The value of a 401k match, paid time off, and health insurance in your decision
How much more you need to earn to make up for the loss of PSLF
Whether you can switch back to the public sector and return to PSLF
The difference in value for PSLF between low- and high-income earners
Should you stay with a not-for-profit or open up your own private practice
The rule of thumb I use to compare the value of PSLF in your career
What to do if you’re on the fence about switching from PSLF to taxable forgiveness

Full show notes at: http://studentloanplanner.com/88

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How can you invest when everything is so expensive? Jul 28, 2020

Investing is a crucial part of building long-term financial stability. Even if you have student loan debt that tops $500,000 or more, here’s a look at how our flagship course, Six Figure Debt to Six Figure Net Worth, can teach you to invest and transform your life.

In today’s episode, you'll find out:

Why you should be investing even with student loan debt
What you’ll learn in our Six Figure Debt to Six Figure Net Worth course
Why the stock market crashed 30% when the pandemic hit
What the Fed did to help the market rebound so quickly
Why the stock market is strong despite the growing pandemic
What’s the best thing to invest in for long-term growth
How to choose which fund to put your money in
The story behind market capitalization weighted investing
How tax loss harvesting can save you big money
Why the order of your actions matters for building wealth
Why it doesn’t matter if student loan forgiveness happens or not
How to define your goal of financial security
How to sign up for the Six Figure Debt to Six Figure Net Worth course

Full show notes at: http://studentloanplanner.com/87

Links mentioned:

Six Figure Debt to Six Figure Net Worth

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Compassion Fatigue, Moral Distress, and Mental Health in Veterinary Medicine Jul 21, 2020

Dr. Carrie Jurney joins me in this episode to talk about mental health challenges of veterinary professionals. She is the board president of Not One More Vet, Inc, which is the largest profession-specific mental health advocacy organization that I’m aware of, and helps to foster a community of over 25,000 veterinarians, support staff, and vet students to promote better mental health and self care.

In today’s episode, you'll find out:

Why compassion fatigue is a real issue
How Not One More Vet got its start
Why being a vet is more than playing with dogs and cats all day
The importance of community among veterinary professionals
Why “working harder” won’t fix compassion fatigue or burnout
How to recognize if someone you love is struggling mentally
The role of student loans in psychologic distress
Why younger vets are at higher risk of decreased well-being
What drives the cost of veterinary care up
How cyberbullying starts among vet professionals
How to find mental health support as a veterinary professional

Full show notes at: http://studentloanplanner.com/86

Links mentioned:

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The Coming Chaos in Student Loan Servicing Jul 14, 2020

Big changes are coming to student loan servicers and I’m talking about what it means for your bottom line, your life, and your anxiety levels. I’ll give you a rundown of who the new servicers are and my predictions on what will happen when they take over.

I also answer listener questions about PSLF payment caps, 1099 vs W2 earnings, and what happens to your credit score after student loan forgiveness.

In today’s episode, you'll find out:

The federal student loan program pre-2010
How the direct student loan system works now
Why the government outsources student loan servicing
My thoughts on the effectiveness of current student loan servicers
A rundown of the five new student loan servicers
Why I think hiring new servicers will be a disaster
What’s contributing to the ‘perfect storm’ in student loans
Why I think the CARES Act payment suspension will be extended
What to do to prepare for a servicer switch if you’re pursuing PSLF
How to prepare if you’re not pursuing PSLF
Why having a student loan plan in place now will make the transition easier
My advice on why you shouldn’t panic

Full show notes at: http://studentloanplanner.com/85

Links mentioned:

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Nicole Hatcher on Being a PA and Systemic Racism in Medicine Jul 07, 2020

Nicole Hatcher is a physician assistant and the personal finance expert behind Frugal Chic Life. She shares her story of becoming a PA and her experiences with racism and bias as a professional. We also talk about degree creep as a hurdle for Black people getting a college education and how to make healthcare professions more accessible to minorities.

In today’s episode, you'll find out:

Why Nicole chose to go into the medical field
Why she decided to become a PA instead of a doctor
The ways being a PA is more flexible than being a doctor
Where the PA profession got its start
How much PA school costs
The average student debt of a PA
The earning potential of a PA right out of school
How systemic racism shows up in healthcare
Nicole’s experiences with racism as a professional
How degree creep is widening the racial wealth gap
How Nicole is promoting financial literacy

Full show notes at: http://studentloanplanner.com/84

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What does the future of student loan refinancing look like after the pandemic? Jun 30, 2020

The student loan interest freeze is set to expire on September 30. Even if Congress passes a bill to extend the relief, you’ll have to start repaying your loans eventually. But there’s an election coming that could change the future of student loan refinancing.

Join me as I talk about what refinancing might look like after the pandemic and how the election could impact your decision to refinance your federal loans.

In today’s episode, you'll find out:

Why common student loan repayment strategy is bad advice
3 criteria you must meet before refinancing your student loans
My thoughts on whether Congress will extend the student loan payment freeze
Why you should wait to refinance federal loans
How to get the best interest rate now if you want to refinance later
The impact of Biden’s plan vs. Trump’s plan on student loan refinancing
Why your student loan debt is not a death sentence
Plus, answers to listener’s questions about student loan repayment

Full show notes at: http://studentloanplanner.com/83

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The Danger of Becoming an Accidental Landlord Jun 23, 2020

Lauryn Williams, CFP, CSLP, shares why investing in real estate might be more work than you think, how to grow passive income streams with alternative investments and tips for student loan borrowers that want to invest in real estate.

In today’s episode, you'll find out:

How Lauryn became an accidental landlord
What she learned about owning a rental property
Costs people forget to include in the rental price
Lauryn’s bad experience with selling her rental home
What return Lauryn got in 16 years of being a landlord
Why people are drawn to investing in real estate
The best way to grow your net worth according to Lauryn
Whether student loan borrowers should invest in real estate

Full show notes at: http://studentloanplanner.com/82

 Links mentioned:  

• Coach Carson • Bigger Pockets • Passive Income M.D. • Semi-Retired M.D. 

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How to Plan Pre-Student Loan Debt Jun 16, 2020

Meagan Landress, CSLP and owner of Financial Coach Meagan, shares the best way to plan for the cost of undergrad and grad school, the importance of understanding how the federal student loan system works, and why you don’t have to feel embarrassed or sad about how much you borrow.

In today’s episode, you'll find out:

Meagan’s advice to find the true cost of attendance
What loans you can get for undergraduate school
How your dependency status impacts your borrowing limit
Meagan’s thoughts about when to take out a private student loan
Where to go to find scholarships to help pay for college
How your parents can retire 2 years earlier
How paying for grad school is different from an undergrad degree
How your payment can be the same no matter how much you borrow
Why a pre-debt plan can save you 5 and 6 figures

Full show notes at: http://studentloanplanner.com/81

Links mentioned:  

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Shrinking the Racial Wealth Gap, with Lauryn Williams Jun 09, 2020

Lauryn Williams, CFP®, is one of our student loan consultants and the owner of financial planning firm Worth Winning. In this episode, we talk about the racial wealth gap, the impact it has on communities of color, and how black people are disproportionately impacted by student loan debt. Williams also shares her thoughts about how to make the financial industry more welcoming to black communities.

In today’s episode, you'll find out:

Who Lauryn Williams is
How Williams became aware of race and gender
What it’s like to be a black woman in the financial industry
What the racial wealth gap is
Why there’s a gap in student loan borrowing between races
Williams advice on how to closing the racial wealth gap
What you can do to be more welcoming to people of color

Full show notes at: http://studentloanplanner.com/80

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The mental health challenges of student loans Jun 02, 2020

Many student loan borrowers struggle with their mental health. If you’ve ever felt stress, anxiety or worry about your student loan debt, you’re not alone.

Student loan debt shouldn’t stop you from living your best life. I can’t wave a magic wand and make it all go away but, in this episode, I share some tools to help.

In today’s episode, you'll find out:

Results of our recent student loan mental health study
Why 90% of our listeners have severe student loan anxiety
The top 6 things borrowers worry about because of their student loans
Why borrowers are more stressed about student loans than COVID-19
How to change your outlook on student loans to reach financial milestones
Why student loan interest doesn’t matter
Why I don’t think forgiveness will go away
How to buy a house with student loan debt
Why you shouldn’t wait to have kids because of student loans
My thoughts on what the next stimulus bill will include

Full show notes at: http://studentloanplanner.com/79

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The Double Debt Loophole for Married Couples Explained May 26, 2020

One of the weirdest student loan repayment loopholes that I know of is the double debt loophole. It only works for married couples, but it can change the way you think about your student loan debt. In this episode, I talk about that and 7 other loopholes we use to save you money on your student loans.

In today’s episode, you'll find out:

What is the double debt loophole and how does it work
Why the loophole doesn’t work with all repayment plans
Examples of the double debt loophole in action
The #1 thing I tell our consultants about student loan planning
Why federal student loan interest will be so low for fall 2020 and spring 2021
The 7 other loopholes our consultants use to lower your monthly payment
How to know if you need a professional to analyze your student loans

Full show notes at: http://studentloanplanner.com/78

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What Business Owner Dentists, Vets, Optometrists, and Lawyers Need to Know, with Tom Bodin May 19, 2020

As practice owners struggle to get through this tough time, I sat down with Tom Bodin, CFA, CFP®, and a Practice Integration Advisor for Buckingham Strategic Wealth.

He shares how business owners can best address financial planning amid the pandemic.

In this episode, you'll find out:

How Bodin’s background in legislative analysis helps his financial planning clients
Roadblocks dentists, optometrists, veterinarians, and lawyers are facing because of COVID-19
Best ways to maximize tax savings to lower your AGI
How practice owners can put away six-figures for retirement annually
The importance of a cash balance plan in practice ownership
Cash preservation techniques for business owners
How wealth planning can help even if you’re just thinking about a practice purchase

Full show notes at: http://studentloanplanner.com/77

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Paying Nothing, Borrowing the Max, and What this Recession Means for Student Loan Policy May 12, 2020

Most financial experts are telling you to pay extra on your student loans right now because of the 0% interest rate through the end of September. But I think that’s terrible advice!

Find out why and what I think the unintended consequences will be of Congress trying to rescue borrowers amid the coronavirus outbreak.

In today’s episode, you'll find out:

Why you should pay nothing on your student loans
How you could be a victim of a strategic layoff
How to lower your payment if you have private student loans
Why it’s okay to borrow the max amount of student loans
What Congress did to make me think the tax bomb will disappear
Some good news about student loan interest rates for next year
What matters the most when it comes to student loan repayment

Full show notes at: http://studentloanplanner.com/76

Some Good student Loan News (people are still saving money) May 05, 2020

To help combat the doom and gloom that is the coronavirus, I’m bringing you some positive energy. Today, I talk with Meagan Landress, Certified Student Loan Professional™ and founder of Financial Coach Meagan, about some good news regarding student loans.

In today’s episode, you'll find out:

How Landress has been handling social distancing The repayment plan that cut a couple’s payment in half The trick to free up cash flow on student loans A strategy for student loans specifically for people nearing retirement age Why federal student loans aren’t like any other type of debt How a recent grad saved $1,000 per month on her monthly payment

Full show notes at: http://studentloanplanner.com/75

Your Quarantine Stories Apr 28, 2020

I did a second survey of our 20,000-plus email subscribers to find out how the pandemic and economic shut down is affecting different professions.

The results aren’t what I expected.

Today, I’m sharing survey findings, quarantine stories from our subscribers, and an update on the CARES Act and how it might impact the future of student loans.

In today’s episode, you'll find out:

Why the $350 million funding for PPP loans was a disaster
Who I think should apply for a PPP loan if there’s more funding
How professions are being impacted by the economic shutdown
How long survey respondents said the economy should stay closed
The impact of coronavirus on dentists vs. physicians
Quarantine stories from survey respondents
What big changes might be coming to the CARES Act
Why universities want lower interest for student loans

Full show notes at: http://studentloanplanner.com/74

Student Loan Default Guide: How to help yourself or your friend Apr 21, 2020

You might not know what to do if you’re facing default or having trouble paying your student loans. Or maybe you’re curious about what happens to your student loans when you stop paying. To find out that and more, I turn to two experienced student loan attorneys: Adam Minsky and Jay Fleischman. They share their best tips for dealing with student loan default and how to get help. In today’s episode, you'll find out: What to do if you default on your student loans The two options you have for federal student loan default How to settle private student loan debt If the Department of Education will settle for less than you owe Whether rehabilitation or consolidation is better How default affects your credit report now and in the future How student loan default impacts forgiveness Whether bankruptcy is an option to get rid of your student loans Where to get more help if your loans are in default Full show notes at: http://studentloanplanner.com/73

Is there any hope for veterinarians? With Diana Care Apr 14, 2020

Diana Care is a veterinarian for the federal government who is passionate about taking advantage of PSLF.

She shares how to best take advantage of forgiveness with a job in the non-profit or government sector, why employer-paid student loan benefits are a bad idea, and reasons you might not want to pursue a career as a vet.

In today’s episode, you'll find out:

Why vet school debt keeps growing
Why veterinarian student loan debt studies are deceitful
How 20% of vet school graduates don’t have any student loans at all
Whether a Caribbean vet school is worth the high price tag
The reason to just say no to employer student loan benefits
How to reach Diana if you’re interested in a vet job with the federal government

Full show notes at: http://studentloanplanner.com/72

Q&A about the stimulus and what it means for you Apr 07, 2020

In this episode, I’m getting to the truth behind the Stimulus Bill that was just passed and what it means for your student loans. Spoiler alert: It’s more than a suspension of payments and interest. I’ll help you cut through the noise so you can save money during this crazy time.

In today’s episode, you'll find out:

How to take advantage of student loan payment suspension
Whether you should buy stocks right now or save
What the student loan payment suspension means if you’re still in school
Why congress is worried about pausing student loan payments
The starting date for suspended payments to count toward PSLF
How much cash you need in your savings account
How to get a refund of your payment from your loan servicer

Full show notes at https://www.studentloanplanner.com/71

Conquering anxiety and depression after 300k of film school debt, with Stephanie Bousley Mar 31, 2020

Stephanie Bousley talks about how to get rid of student loan debt to live your best life in her new book Buy the Avocado Toast. This week, I talk with Stephanie about how she accumulated $300k of student loan debt while going to film school in one of the most expensive cities in the world, and how she’s paying it off while living a comfortable life.

In today’s episode, you'll find out:

Why you can’t work your way out of student loan debt
How having six-figures of debt doesn’t make you irresponsible
Stephanie’s struggle with shame and secrecy about her debt
Why Stephanie has refinanced her student loans 5+ times
What I would have advised Stephanie if she were my client
Stephanie’s advice about rewarding yourself even when you have debt

Full show notes at: http://studentloanplanner.com/70

Getting relief on your loans during economic disaster Mar 24, 2020

A lot of people have had significant changes to their incomes as a result of the coronavirus pandemic. If you’ve had a drop in pay, you could get some relief by lowering your student loan payment.

I sat down with our very own Meagan Landress, CSLP®, to walk you through how to recalculate your student loan payments during an economic disaster.

In today’s episode, you'll find out:

How to lower your student loan payment without making a single phone call
Which application to use to recalculate your payment immediately
The documentation you need to change your student loan payment
Why deferment or forbearance is a bad idea
What to do if you’re in default on your payments right now
Whether you should refinance if you have private student loans
How to get free student loan advice from Student Loan Planner

Full show notes at: http://studentloanplanner.com/69

Coronavirus, Asymmetric Bets, and Your Questions Mar 17, 2020

With the stock market and global economy in a state of flux, I’ve been getting some questions about investing and coronavirus. People are asking about the possibility of a recession. Coronavirus is a very serious concern. I’m going to help you assess whether you should invest from a rational perspective, starting with asking yourself “what does this mean for me and my family.” In today’s episode, you'll find out: What I think about the possibility of a recession How coronavirus compares to the Spanish flu Why the stock market fell 15% during the Spanish flu How the stock market rebounded during the 1918 pandemic What is really killing the markets right now How to protect your investments during coronavirus outbreak Whether or not you should be investing right now Full show notes at: http://studentloanplanner.com/68

Tax Guide for Student Loan Borrowers Mar 10, 2020

Even though I can think of about 600,000 things I’d rather talk about than taxes, it’s something we can’t ignore. I see people all the time paying way more in taxes than they should be. Today, I’m going to help you understand what you’re actually paying and why. Then we’ll jump into long-term tax planning strategies and some tips on what you can do right now to lower your tax bill as a student loan borrower.

In today’s episode, you'll find out:

What adjusted gross income (AGI) is and why it matters The difference in tax brackets if you’re single vs. married How to pay $0 in taxes on investment income Ways to reduce your taxable income How business owners can add even more to their retirement savings What the breadwinner loophole is and how it can save you money Why you might consider amending old tax returns How to get more help if you need it

Full show notes at: http://studentloanplanner.com/67

Your interest is not nearly as bad as you think Mar 03, 2020

If you’re overwhelmed by the idea of student loan interest raging out of control, this episode is for you. I sat down with our senior student loan consultant, Rob Bertman, CFP®, CFA to dig into the details about why student loan interest isn’t as bad as you think. Bertman has over 15 years’ experience as a financial planner and is the mastermind behind Family Budget Expert. Here’s what he has to say about how interest can impact your student loans.

In today’s episode, you'll find out:

• Why student loan interest isn’t as bad as you think it is • How student loan interest works • The repayment plan that gets the government to cover some of your interest • Why forbearance is such a terrible idea • How to use an old tax return to lower your student loan payment • Why it’s best to stick with an IDR plan in residency • Why consolidating right after you graduate can be a winning strategy • How the “fighting spouses loophole” can help if you live in a community property state

Full show notes at: http://studentloanplanner.com/66

Avoid Fraud and Fake Experts with Jantz Hoffman Feb 25, 2020

Jantz Hoffman is the founder of the Certified Student Loan Professional (CSLP®) designation that helps financial advisors incorporate student loan repayment planning in their practice. I invited him on the show to get his thoughts on student loan fraud and all the fake experts out there.

Brief intro to episode

In today’s episode, you'll find out:

What gave Jantz the idea for CSLP
Why there’s no value in falsifying student loan documents
Reasons Jantz says not to be nervous about PSLF going away
Problems Jantz has had with student loan services
How applying for PSLF is like going to Olive Garden
Why statistics in the media are wrong

Full show notes at: http://studentloanplanner.com/65

Election Hot Takes with Lauryn Williams Feb 18, 2020

Student loan reform is a hot topic with the upcoming election. I asked Student Loan Planner Consultant Lauryn Williams to weigh-in on some of what the proposed plans might mean for your student loan payment. Join me as we walk you through what the future of student loans might look like.

In today’s episode, you'll find out:

How Bernie’s “let’s forgive all the debt” plan could boost the economy
If a Wall Street tax would help or hurt the middle class
How Warren’s needs-based plan could lower your debt balance
Why refinancing all student loans won’t solve the problem
Just how big the racial wealth divide is
The huge problem with our current student loan system
What you can expect to happen in the future with student loans

Full show notes at: http://studentloanplanner.com/64

Student Loan Travisties Feb 11, 2020

Student loans are complicated enough on their own. When you add student loan scams to the mix, they can be almost unbearable. That’s why I’m going to cover the top 7 student loan “Travis”-ties, so you can avoid getting caught up in a mess.

In today’s episode, you'll find out:

The most common student scams you need to watch out for
The student loan scam that cost one reader over $50,000
Why parents shouldn’t pay for their kids’ college
Questions to ask a financial advisor to test their student loan knowledge
Why most school exit counseling is so terrible
Why you shouldn’t panic if you no longer qualify for a partial financial hardship

Full show notes at: http://studentloanplanner.com/63

How Money From Your Employer For Loans Can Hurt You Feb 04, 2020

Free money from your employer to help pay off your loans is a great idea, right? Wrong! It could be one of the worst employee benefits ever. I’ll break down how this can affect your finances and show you how employer student loan benefits are a bad idea.

In today’s episode, you'll find out:

Why taking money from your employer for student loans is a trap
How a free $100,000 can end up costing you $50,000
The tax consequences of employer-paid student loan payments
The effect of employer student loan benefits on PSLF
The problem with old-school thought patterns about debt
Why “getting your debt to zero” isn’t the best strategy
How to get ahead by negotiating employer benefits

Full show notes at: http://studentloanplanner.com/62

Student Loan Hacks You Haven't Heard Before with Meagan Landress Jan 28, 2020

As part of our series on introducing you to new members of the Student Loan Planner team, I want to take a moment to talk with Meagan Landress. She is a Certified Student Loan Professional™ and today she’s sharing her best student loan loopholes and strategies to help you conquer your student loan debt.

In today’s episode, you'll find out:

What led Meagan to student loan consulting
How “married filing separately” can lower your payment
How to double-dip with the poverty line deduction
What double consolidation can do for Parent PLUS borrowers
The legal loophole to open up Parent PLUS loans to IDR plans
Why you need a student loan plan if you live in one of these 9 states
How to book a consult with Meagan to crush your student loans

Full show notes at: http://studentloanplanner.com/61

How Taxes and Student Loans Get Weird in a Hurry with Ben Nanney Jan 21, 2020

We’ve added a new face to our Student Loan Planner team. Listen in as I interview Ben Nanney, CPA and CFP®, about the nitty-gritty on taxes and student loans. He’ll give us the inside scoop on basic tax terms and dive into some more complex tax strategies for student loan borrowers.

In today’s episode, you'll find out:

What drove Ben to launch his own financial planning firm
Why AGI isn’t as confusing as you think
What is an above the line deduction
The difference between a SEP IRA and Solo 401(k)
Why Ben is a great addition to the consultant team
How filing separate tax returns can benefit married couples
What is the breadwinner loophole
How to amend previous tax returns to get money back
How to contact the best tax experts for student loan borrowers
Why a community property state can lower your student loan payment
The best tax strategies for high-income borrowers

Full show notes at: http://studentloanplanner.com/60

Course Launch Recap Jan 14, 2020

Since it’s the final day to purchase the Six-Figure Debt to Six-Figure Net Worth course, I want to share some tips from the course to give you some insight into my investing philosophy.

I’ll show you how you can manage your own investments and reach millionaire status with a strategy that only takes a few hours of your time each year.

In today’s episode, you'll find out:

How the Student Loan Planner course can save you money
Tips to give you a taste of my investing philosophy
What to do instead of paying a financial advisor
How tax-loss harvesting can save you $10,000 or more in taxes
Why a new car every two years can cost an extra $500,000
The 3 keys to successful investing
Why most people don’t need a financial advisor
How to manage your own investments with a couple of hours a year
How my background as a CFA and bond trader led me to create this course

Full show notes at: http://studentloanplanner.com/59

Go from Six Figure Debt to Six Figure Net Worth in 2020 Jan 07, 2020

The Six Figure to Six Figure Net Worth Course is here! If you have a goal of growing your net worth and not letting your student loans run your life, you need to know more about this course.

Join me in today’s episode as I go into detail about how you can reach financial abundance in less than a decade.

In today’s episode, you'll find out:

Why the Student Loan Planner Course is the best investment this year
How to replace your reliance on labor for income to live
The impact of different risk profiles of investment combinations
How investing can shave 10 to 20 years off your working career
When you should (and shouldn’t) use a financial advisor
Why working part time with $400,000 in student loans is okay
Three tips to get the most out of real estate investing
Hassle-free rules to maximize your retirement investing

Full show notes at: http://studentloanplanner.com/58

You Could Work Twice as Hard or Learn About Growing Your Assets Dec 31, 2019

When you graduate from college, you probably have a negative net worth from student loan debt. But is your negative net worth really the problem? Join me as I talk about ways to grow your assets through four proven strategies that can work no matter how high your student loan debt is.

In today’s episode, you'll find out:

Why negative net worth isn’t the problem
The two types of accounts you should be investing in
The minimum amount to contribute to investment accounts
Why borrowers are putting more at risk by not taking risks
What a rental debt snowball is and how it can grow your wealth
The truth about negative net worth being a tax instead of a debt
How avoiding bad business decisions can double your net worth

Full show notes at: http://studentloanplanner.com/57

Why Your Student Loans Don’t Matter Dec 24, 2019

Saying student loan debt isn’t that big a deal is a loaded statement.

But it’s true!

In this episode, I talk about why your loans don’t matter as much as you think they do.

I also go over five common high-debt career paths and share strategies to make it work to your advantage, no matter what your income is.

In today’s episode, you'll find out:

Why your student loans aren’t what’s holding you back
A simple mindset shift to ease your anxiety
Why going from chiropractor to physician assistant can be a smart financial move
How owning a practice can increase your income and decrease your student loan payment
The best career for making $50k a year while working just three days a week
How private practice can be better than PSLF for physicians

Full show notes at: http://studentloanplanner.com/56

Debating the Future of PSLF and Student Loans with Dr. Ben White Dec 17, 2019

Dr. Ben White is has been helping medical students, residents, other physicians, and everyone else manage their student loans since 2009. He’s also and author, speaker, and board-certified subspecialized neuroradiologist. Today, I talk with Dr. White about PSLF and get his thoughts on controversial repayment strategies and the future of the program.

In today’s episode, you'll find out:

Future changes Dr. White expects to see with PSLF
Why a common sense approach to student loans doesn’t work
Why most student loan borrowers are on the wrong repayment plan
Dr. White’s thoughts on controversial repayment strategies
The legal loophole for Parent PLUS loans
Why a 1% acceptance rate for PSLF makes sense
How the annual budget of NASA compares to loan forgiveness
How to mitigate the opportunity cost of medical training

Full show notes at: http://studentloanplanner.com/55

Top Gifts for Student Loan Borrowers Dec 10, 2019

The holidays are fast approaching and I know what you’re thinking: what should I get for the student loan borrowers on my list this year?

In this episode, I go over the top 21 gifts that would make a big impact on the lives of student loan borrowers.

In today’s episode, you'll find out:

Why the public library is one of the best places to hang out
When to use the cash back from refinancing your loan to splurge
How to turn the gift of cash from ho-hum to something memorable
The best way to ask for a raise to put more money in your pocket
Why getting married is a wonderful thing for student loan borrowers
What games I play on my iPad while waiting on hold to talk to a real person
How the gift of courage can change your life

Full show notes at: http://studentloanplanner.com/54

How to Solve the Student Loan Crisis According to Borrowers Dec 03, 2019

Student loan debt is a growing problem and a hot topic in the media. I asked the Student Loan Planner community how they would solve the student loan crisis, and the results were not what I expected.

Join me as I go into the details about how listeners feel about the growing problem of student loan debt.

In today’s episode, you'll find out:

How important student loan reform is to voters
What borrowers think student loan reform should look like
The reason most people would opt for treating student loans like a tax
Why lower student loan interest rates won’t fix the problem
How a student loan tax would affect retirement savings
How the Biden Plan compares to the Trump Plan
Why past student loan reform proposals failed
Whether eliminating the tax bomb is sustainable
Why the future of student loans depends on the private loan market

Full show notes at: http://studentloanplanner.com/53

Becoming a PA with Savanna Perry Nov 26, 2019

Savanna Perry is a Physician Assistant and founder of ThePAplatform.com, a site where she shares insider tips to help others navigate the journey to becoming a PA. Today, I ask Savanna how to pick the best program, what the requirements are to get in, and whether the cost of the program is worth it in the end.

In today’s episode, you'll find out:

How being a PA can bring balance and flexibility to your life
Why Savanna chose a public program over a private program
How PA programs compare to med school
The trick to go from $200k in student loan debt to $80k
Whether private or federal student loans are better for PA school
How Savanna was able to pay off your student loan debt so quickly
Career opportunities and salary expectations for PAs
Why becoming a PA is a great choice for a second career

Full show notes at: http://studentloanplanner.com/52

Bad Decisions by Physicians with Ryan Inman Nov 19, 2019

Ryan Inman, the host of the Financial Residency podcast and founder of Physician Wealth Services, shares the biggest mistakes he’s seen physicians make when it comes to student loan debt. I talk with Ryan about the state of PSLF and why hiring a financial planner isn’t right for everyone.

In today’s episode, you'll find out:

The trick to making PSLF work for physicians
The real reason behind PSLF rejections
Why worrying about whether PSLF will still be around isn’t the biggest problem
Why not everyone should work with a financial planner
How a physician made a mistake that cost half a million dollars
What the future of PSLF might look like
The 10-step plan that Ryan uses in his financial planning business
How hiring a financial planner is like working with a personal trainer

Full show notes at: http://studentloanplanner.com/51

Reflections After 3 Years of Helping Borrowers with Student Loans Nov 12, 2019

In this monumental 50th episode, I’m taking you back in time on my journey of starting this thing called Student Loan Planner.

Here’s the story of why I feel deeply called to helping you and others like you make sense of your finances and what I’ve learned over the past 3 years of working full-time in the world of student loans.

In today’s episode, you'll find out:

Why some school are honest and others are downright profit-hungry
Why colleges foot the bill for flights, hotels, meals, and more when you agree to a tour
The things people put too much focus on when it comes to personal finance
The only three areas you need to focus on to make your money work for you
The secret I’ve learned to increase your savings rate
What happens when you think in terms of value rather than cost
What I think about the future of student loans
The crucial piece that most people miss when it comes to investing
The biggest worry about I have about running Student Loan Planner

Full show notes at: http://studentloanplanner.com/50

Physician on FIRE Shares Secrets of Early Retirement Nov 05, 2019

Leif is well-known in the personal finance space as the Physician on FIRE. He runs a website by the same name to inspire physicians and their patients to live a life of financial independence and early retirement. In this episode, I talk with Leif about his strategy of becoming financially independent and getting the most out of your money.

In today’s episode, you'll find out:

The trick physicians can use to create more freedom with locum tenens
How to leverage your income to retire before traditional retirement age
How Leif escaped undergrad with no student loan debt
Leif’s thoughts about pursuing loan forgiveness as an anesthesiologist
How you can have a better lifestyle with student loan debt
When it makes sense to consider PSLF as a physician
The risk of taking over a mom-and-pop medical practice
What Leif says is the best return on investment of different medical specialties
The reasons people start to feel “burned out” by practicing medicine
The two big things Leif chooses to splurge on

Full show notes at: http://studentloanplanner.com/49

How the economy impacts what rates you get on student loan refinancing Oct 29, 2019

Student loan refinancing can be a big help to your financial goals.

But some refi strategies can make it so you can’t buy a house or start a business.

In this episode, I’ll talk about when a refi makes sense for you and discuss how the economy, a recession, and changing interest rates factor into your decision.

In today’s episode, you'll find out:

What is a refi ladder and can it work for you
How doing more than one refi can be a smart move
The reason to refi to a longer term at a higher interest rate
Why you shouldn’t worry about your credit score when you refinance
The risk of going with an aggressive repayment strategy
How your student loans can impact buying a house or starting a business
How government interest impacts the interest you pay
What would happen to student loan interest rates in a recession
When variable rates are a smart move in your refi strategy

Full show notes at: http://studentloanplanner.com/48

Can You Retire Before Mom and Dad? With Robert Berger Oct 22, 2019

Robert Berger, Deputy Editor at Forbes and author of Retire Before Mom and Dad, is passionate about helping others build financial independence. In this episode, I talk with Robert about how to plan for retirement and the seven levels you need to reach financial freedom.

In today’s episode, you'll find out:

What “retirement” can look like for you
The seven levels of financial independence
Is the 4% rule still relevant?
How student loan borrowers can reach financial independence
What is the “money audit” and how it can help cut your spending
Why cars are a financial freedom killer
What retirement account is the best first step to investing
Why expense ratios are a huge factor in investing
How to experiment with your finances to increase your savings

Full show notes at: http://studentloanplanner.com/47

Why you should start a business (yes, really) Oct 15, 2019

There are many reasons you should start a business. Business owners tend to make more money than associates. A business owner could pay less taxes than an associate, too. Overhead is often 45% to 60% depending on the practice, which means profit would be 40% to 55% instead of 28% to 33% as an associate. I spell out all the benefits of owning a business.

In today’s episode, you’ll find out:

Why you should start a business now even if you have student loans
What makes the risk of being an entrepreneur lower than you think
Why a dentist probably shouldn’t open a restaurant business
Legal write-offs to save 50% or more in taxes
Why adding your spouse to your payroll can help the business
How self-funded pension plans can fuel your retirement
The advantage of a fiduciary financial planner for your business
Why private practice is a better choice than PSLF
How your business can help your REPAYE subsidy

For more information, visit the show notes at https://www.studentloanplanner.com/why-start-business/

Is this the best time ever to be a dentist? With Reese Harper Oct 08, 2019

Reese Harper, a Certified Financial Planner and founder of Dentist Advisor, specializes in financial planning for dentists. In this episode, learn his thoughts on the financial planning industry, how to be successful running a dental business and whether now is the best time in history to be a dentist.

In today’s episode, you'll find out:

How Reese got started with his firm
His thoughts on the financial planning industry
Conflicts of interest in financial planning
The typical wealth and income Reese sees with his dentist clients
How DSOs (Dental Support Organizations) are affecting dentistry
What to focus on early in your dental career
Why there’s a place for different business models in dentistry
Why dentists have to think about the business side of things
Why trust is everything in a producer-consumer relationship
Reese’s thoughts on a fair price for a financial planner
How income and net worth impact the cost of a financial adviser
Is now the best time in history to be a dentist?

Full show notes at: http://studentloanplanner.com/45

Why do financial advisers give lousy student loan advice? Oct 01, 2019

Why do so many financial advisers give lousy student loan advice? In this episode, the Student Loan Planner consultants — Travis Hornsby, Justin Harvey, Rob Bertman and Lauryn Williams — discuss what to look for in a financial adviser, what leads to this bad advice and why an experienced financial adviser is key.

In today’s episode, you'll find out:

What to look for in a good financial adviser
Why financial advisers need to disclose all conflicts of interest
Why Student Loan Planner isn’t a fiduciary investment adviser
How Student Loan Planner can provide the best cash-back bonuses
Why most financial advisers aren’t expert on niche topics
What could lead a financial adviser to give poor advice
Why paying a hefty fee for an adviser isn’t always a bad thing
How good information lets you make sound financial decisions
Why you need to interview potential financial advisers
How not having enough experience leads to bad advice
Why student loan strategies are foreign for many advisers
Why finding an experienced financial adviser is key

Full show notes at: http://studentloanplanner.com/44

The first couple in history to BOTH get tax free loan forgiveness Sep 24, 2019

Trent and Somer are the first couple in history to both get tax-free student loan forgiveness through the Temporary Expanded Public Service Loan Forgiveness (TEPSLF) program. Learn about how they qualified, their journey to forgiveness and their advice for those looking to do the same.

In today’s episode, you'll find out:

How much student loan debt Somer and Trent graduated with
How they managed to get Direct Loans
What it was like for Trent to consolidate his loans in the late-2000s.
How Trent ended up with five years not counting toward TEPSLF
How Somer was signed up for the wrong repayment plan
When their loans went to FedLoan Servicing
How changing your name can cause student loan problems
Why Trent’s TEPSLF was a little harder to process
Trent’s reaction to finding out his student loans were forgiven
Somer’s emotions when she saw her loans had also been forgiven
Somer’s thoughts on why loan forgiveness isn’t just free money
The steps to qualify for TEPSLF
Trent and Somer’s advice for those going for TEPSLF

Full show notes at: http://studentloanplanner.com/43

The Refinancing Ladder approach Sep 17, 2019

Using the refinancing ladder strategy can help student loan borrowers get out of debt much faster. In this episode, learn how the refinancing ladder works for refinancing student loans — and how to decide if refinancing is right for you.

In today’s episode, you'll find out:

• What is the refinancing ladder strategy? • When is refinancing a good decision? • Why you shouldn’t refinance federal loans too soon • What, exactly, is student loan refinancing? • How student loan refinancing differs from other refinancing • How Student Loan Planner’s cash-back bonuses work • The differences between short-term and long-term refinancing • How to calculate your payment with various loan terms • How many times do people generally refinance? • How to use the refinancing ladder strategy • Should you go with a variable or fixed rate? • How historic refinancing rates compare to the rates of today • How variable rates are calculated • Why don’t more people refinance their student loans? • Why putting off your financial health is unwise • How lenders profit from borrowers who don’t know to refinance • Who should and shouldn’t refinance their student loans • Benefits of using the refinancing ladder with cash-back bonuses 

Full show notes at: http://studentloanplanner.com/42

26 ReasonsThat Make Your Student Loan Plan Unique Sep 10, 2019

Do you wonder why our student loan plan consult form has you give so much information? Hear the Student Loan Planner consultants — Travis Hornsby, Justin Harvey, Rob Bertman and Lauryn Williams — break down all 26 questions and explain how your plan is unique.

In today’s episode, you'll find out:

How the consultants react to learning someone’s occupation
Why the consultants want to know what metro area you’re
How community property states affect student loans
How your choice of school might influence your loans
The consultants’ thinking on different loan balances
Why knowing the different kinds of loans you have is crucial
How your income affects possibly refinancing
Why your payoff plan involves your projected income
How interest works with student loans
What your retirement savings lets the consultants know
How savings illustrates your financial mindset
Why the date you took out your loans matters
How the consultants make a plan based on your information
What your spending level indicates
How both empathy and being realistic plays into your plan
Why savings versus debt matters
How family size factors in
How Parent PLUS Loans and PSLF factor into the consult
Why filling out the entire consult form is critical

Full show notes at: http://studentloanplanner.com/41

How Vanguard's website (and roboadvisors) cost America billions of dollars Sep 03, 2019

Most people are committing financial sins of omission — not doing things because they’re too complicated. In this episode, see how anything from bad website designs to having too many options can cause financial inertia — and how setting up automatic plans can help.

In today’s episode, you'll find out:

How is Vanguard’s website design costing people money
Why people use robo-advisers instead of companies like Vanguard
Why developing the habit of investing is important
How a “nudge” works in finances
How student loans could be more simple to deal with
What financial sins of omission might you be committing right now
How the economy shifting pushed people to start investing
Why automatic financial plans are so important
How to avoid having complexity cost you money
How schools convince people to borrow so much money
Examples of people unable to handle so many financial options
Is taking time off from Public Service Loan Forgiveness OK?
How alternative documentation of income works
Why it’s important to not let student loans dictate your life
Refinancing rates are lower than they’ve been in a long time
Why you should book a student loan consultation now
Why you should apply for the Student Loan Planner scholarship

Full show notes at: http://studentloanplanner.com/40

Your Questions Answered (our voicemail works!) Aug 27, 2019

In today's exciting episode, hear questions directly from the Student Loan Planner audience, covering topics ranging from financing a car to preparing for a massive student loan bill, with each question answered by Travis.

In today’s episode, you'll find out:

Is financing a car ever a good idea?
How to best prepare for the tax bomb on an income-driven plan
How student loans can affect buying a home
Should you pay down student loans before buying a house?
Should you wait until after your grace period to refinance?
Is it better to go for a physician or traditional mortgage?
How to prepare for a large student loan bill after graduation
Is refinancing a mortgage worth it, despite closing costs?
Why it’s often good for dentists to buy their own practice
Why getting a custom plan from us could be life-changing

Full show notes at: http://studentloanplanner.com/39

Case study on whether parents should help pay for graduate school Aug 20, 2019

Jake wants to attend dental school while Carissa has enrolled in an occupational therapy program.

See how they plan to finance their educations and why going for student loan forgiveness is a better option than Carissa’s parents paying for grad school.

In today’s episode, you'll find out:

How Jake and Carissa decided on their specific programs
How their choice of schools affects their future student debt
Their plan for future work post-graduation
Carissa’s plan for financing her degree
Why parents helping pay for grad school can be a bad idea
Why PSLF is a good gamble
Possible scenarios if Carissa chose to work in the private sector
Why trading PSLF away isn’t a good deal
Why Travis recommends Jake and Carissa borrow the max amount
The possible future of tax bombs — and why it’s political
The low downside risk of PSLF and tax bombs
Should you pay interest or investigate forgiveness while in school?
Why don’t we hear more about student loan forgiveness?
When refinancing can also be a valuable option

Full show notes at: http://studentloanplanner.com/38

Only sweat the big stuff (because the small stuff doesn't matter) Aug 13, 2019

We can sweat the small stuff — like Netflix subscriptions or gym memberships or daily lattes. But sweating the big stuff — like housing and car purchases — is most important for your financial health. See how these big-ticket items can affect your finances — and what to do about it. In today’s episode, you'll find out: How buying too much house leads to financial train wrecks Why having too many cars isn’t a good financial decision Why buying a latte every day doesn’t have much of an impact How not budgeting for compounded expenses leads to problems How much to set aside for housing expenses How price-to-rent ratio works Price-to-rent ratios in major U.S. cities How life changes affect whether to rent or buy a house How reducing high-expense items alleviates financial stress Possible ways to reduce big child-care expenses How family support expenses can get out of control Other big-ticket items to examine How to approach big-ticket purchases Full show notes at: http://studentloanplanner.com/37

10 most common student loan servicer mistakes Aug 06, 2019

Most people don’t seem to like their student loan servicer — and for good reason. Here are the 10 most common student loan servicer mess-ups and why they happen.

In today’s episode, you'll find out:

The 10 most common student loan servicer mess-ups
Why servicers urge switching to Revised Pay As You Earn (REPAYE)
How switching to REPAYE can hurt some borrowers
Why inaccurate payment counts for loan forgiveness happen
How to get your payment count fixed
Why inaccurately reporting your spouse’s income is a bad idea
How to find out the repayment plan you’re actually on
Why you shouldn’t wait on Public Service Loan Forgiveness (PSLF)
Why you should use your tax returns to report your income
How “paid ahead” status happens
Why servicers will sometimes put you in forbearance or deferment
Why servicers will avoid answering questions
Why servicers don't always tell you about your loan options
How did loan servicing get this bad?
Congress’ role in bad student loan servicing
Why the government won’t spend on better loan servicing
What incentives might improve student loan servicing

Full show notes at: http://studentloanplanner.com/36

Is your savings rate good or bad? Jul 30, 2019

Do you have a good savings rate? What is a good savings rate anyway? In this episode, learn why a high savings rate is so critical — and how to secure one for yourself.

In today’s episode, you'll find out:

How do you define a savings rate?
The history of savings rates in the U.S.
How advertisements might have affected savings rates
Where the current average national savings rate has settled
How having six figures of student loan debt should affect your savings rate
The saving statistics of the Student Loan Planner audience
Our recommended savings rate
How savings rates affect taking risks or changing your situation
What a savings rate can get you in terms of retirement
Five ways to fix a bad savings rate
Why a savings rate is more important than a student loan strategy
How to start saving with a better rate
Why avoiding money paralysis is imperative
Why considering a fee-only fiduciary financial planner is wise

Full show notes at: http://studentloanplanner.com/35

Private Loans: When you should use them Jul 23, 2019

Are private student loans worth it in comparison to federal loans? In this episode, learn how your degree path and future plans affect whether private loans should be on your radar, whether they’re a good idea for parents and grad students, and situations where they’re the worst option.

In today’s episode, you'll find out:

How credit risk impacts your private student loan interest rate
How your degree path affects whether private loans are a good decision
Why you might take out a private loan instead of waiting to refinance
Borrowing limits for Stafford Loans
How Parent PLUS Loans come into the picture
Why Parent PLUS Loans are such a burden
Is a private loan better than a Parent PLUS Loan?
Should private loans be used for graduate school?
A rule of thumb for how much private loans can save you vs. Grad PLUS
How a private loan payment could affect your financial goals
Why an additive payment is bad news
Fields with higher Stafford Loan limits
Situations where private loans are the worst option
Why overestimating your potential earnings can hurt you
Why private loans might make a big comeback
How an interest rate offer shows whether a degree choice is sound

Full show notes at: http://studentloanplanner.com/34

Explaining 529s with Collegebacker CEO Jordan Lee Jul 16, 2019

Jordan Lee is the CEO and co-founder of CollegeBacker, a startup that helps people start 529 college savings plans. In this episode, learn what a 529 plan is, why it’s so important and how to get started.

In today’s episode, you'll find out:

What led Jordan to co-founding CollegeBacker
How a 529 plan works
The impact of saving when your child is young
What counts as a qualified expense for a 529
Tax benefits of a 529
What’s a good annual contribution
Should a 529 be priority over retirement savings?
What superfunding is
How to calculate what to save in a 529
How friends and family can contribute to your child’s 529
Which states provide income tax benefits with 529 plans
What happens if your child decides not to attend college
Differences between adviser-sold and direct-sold plans
How you might choose where to house a 529 plan
How prepaid tuition plans work
Can you save too much to a 529?
Why every parent should contribute a 529 plan

Full show notes at https://studentloanplanner.com/33

Dr. Zachary Kingsberg on starting your own practice Jul 09, 2019

Dr. Zachary Kingsberg is a dentist who, after graduating from the very expensive Nova Southeastern University, is now running his own dental practice startup in Dallas alongside his wife. In this episode, see how Zach began his startup journey, how he handled his student loans and the advice he’d give for an up-and-coming dentists on starting your own practice.

In today’s episode, you'll find out:

Zach’s journey into dental school
How his associateship period played out
How he and his wife prepared themselves to become startup practice owners
How Zach went about acquiring patients
The process of getting funding from a bank for a dental startup
How demographics played into how Zach started his practice
The issues he ran into trying to secure a mortgage
Zach’s advice for refinancing student loans and getting a mortgage
What he learned about running a dental practice in the first year
How he handled marketing for his practice
How running a bread-and-butter clinic has kept costs low
Why Zach’s practice focuses on simple dentistry over cosmetics
How income-driven repayment could have helped Zach’s loan applications
His long-term goals for his practice
Zach’s experience with hiring (and firing) employees
The advice he’d give to a dentist associate considering a startup
The importance of being willing to work hard as a new dentist

Full show notes at: http://studentloanplanner.com/32

Real Estate Investing with lots of Student Loans: Is it possible? Jul 02, 2019

Chad Carson is real estate entrepreneur who has worked in real estate investing for 16 years. In this episode, learn how he got started on his entrepreneurial journey, how real estate investing really works, and whether it’s a good idea for your situation.

In today’s episode, you'll find out:

• Chad’s background a college football player

• How he got started in real estate investing

• What Chad’s first rental was like

• What a house hack is

• How REO (real estate owned) property works

• Whether real estate is a good tax shelter

• How depreciation on property affects taxes

• What a 1031 Exchange is

• How many properties to start off with

• The importance of having a CPA (certified public accountant) to help you with real estate taxes

• How using a house hack can help you qualify for a better mortgage loan

• Chad’s view on real estate crowdfunding

• How active of investing real estate really is

• What commercial house hacking is

• Chad’s experience living abroad on his rental property income

• How investing can pay off in the long term

Full show notes at: http://studentloanplanner.com/31

The Risk of PSLF and Taxable Forgiveness is Vastly Overestimated Jun 25, 2019

Many student loan borrowers are worried about the risks of relying on Public Service Loan Forgiveness (PSLF). In the episode, find out why these risks are vastly overestimated as well as the histories of PSLF repeal attempts and taxable loan forgiveness. Also learn what you need to do in the extremely unlikely case that forgiveness programs are eliminated.

In today’s episode, you'll find out:

Other programs like PSLF that haven’t been repealed, despite massive costs
The history of PSLF repeal attempts
Why politicians are unlikely to try to have PSLF completely taken away
What would happen in the unlikely event that PSLF was repealed
How your savings rate affects how long you’d need to work before retiring
The two kinds of people worried about PSLF going away
The history of taxable loan forgiveness
Government approaches to tax bombs
Why having a high savings rate means you don’t need to worry about suddenly owing your forgiven loan balance
How Congress might deal with taxable loan forgiveness in the future
The history of income-driven repayment plans
The idea behind the possible new Pay As You Earn plan
What could happen if any of these programs were eliminated

Full show notes at: http://studentloanplanner.com/30

Student Loan Success (and carnage) Stories Jun 18, 2019

The Student Loan Planner consultants — Travis Hornsby, Justin Harvey, Rob Bertman and Lauryn Williams — discuss cases they’ve had, with amazing success stories as well as financial catastrophes.

In today’s episode, you'll find out:

▪ Fun background stories from each of the Student Loan Planner consultants ▪ Cases from each of the consultants — success stories and ones where they were too late to stop someone from making a huge financial mistake ▪ Why banking on Public Service Loan Forgiveness (PSLF) isn’t risky for current borrowers ▪ How student loan forgiveness instead of refinancing, depending on the situation, might save someone money ▪ How, even on the verge of default, taking the steps to address your student loan situation can turn everything around ▪ Why Parent PLUS Loans can lead to financial disaster — and strained relationships ▪ How parents end up in PLUS Loan situations while trying to provide for their children ▪ Another PLUS Loan situation — and why pursuing grants and scholarships is better ▪ Why having tough conversations about student loan debt and budgeting is important ▪ How extensive budgeting allowed a parent to stay home with her child ▪ Why it’s imperative to make sure you’re on track for PSLF ▪ Travis’ thoughts on reaching out for student loan help as soon as possible ▪ How income-driven repayment could save end up saving someone money versus staying on the Standard Repayment Plan ▪ More interesting background stories from the consultants 

Full show notes at: http://studentloanplanner.com/29

Resident physician tips on optimizing loan forgiveness Jun 11, 2019

Dr. Mark Ard is a resident psychiatrist who finished medical school with roughly $330,000 of debt. Learn how he’s working toward Public Service Loan Forgiveness, how refinancing his loans has helped him and what his tips are for optimizing loan forgiveness.

In today’s episode, you'll find out:

Mark’s background and education journey as a resident psychiatrist
His family situation and how it’s affected his student loan repayment
How he’s approached retirement accounts and buying a house
Why purchasing a home is usually not the best decision for someone in residency
How moonlighting has affected recertification with Public Service Loan Forgiveness
How the breadwinner loophole can help people in community property states
Why tax accountants might not know to equally distribute your income in you live in a community property state
How much the breadwinner loophole can save someone on student loan payments
How Mark refinanced his student loan debt
How cashback bonuses with refinancing companies work
How consolidating right after graduation can give medical students $0 payments their first year out of school
Why putting loans in deferment or forbearance right out of school isn’t the best idea
How a solo 401(k) could help someone with 1099 income
Why life insurance and disability insurance are so important
Mark’s long-term plans when it comes to retirement
His advice for other residents entering student loan repayment

Full show notes at: http://studentloanplanner.com/28

Robert Farrington on the Fastest Ways to Get Out of Debt Jun 04, 2019

Robert Farrington is the founder of The College Investor, a site that’s helped people with their student loans for 10 years and counting. He worked as an executive at Target before making his way into the personal finance blogosphere following a horrible experience with FedLoan Servicing. Learn about Robert’s thoughts regarding Public Service Loan Forgiveness (PSLF), the student loan crisis and his advice for getting out of debt.

In today’s episode, you'll find out:

Why Robert founded The College Investor
Why articles claiming PSLF will have a 99% rejection rate are misleading
How a lack of education regarding student loans hurts borrowers
How a side hustle can help you pay off your student loan debt more quickly
Robert’s advice for student loan borrowers considering whether to buy a house
His thoughts on whether the student loan crisis will eventually crash
How trying to unwind the credit in the student loan marketplace could negatively affect graduate programs
Why Robert is a fan of borrowing caps for student loans
What order financial savings should be put in, in terms of debt
Extreme stories Robert has heard in regards to student loan borrowers
The financial stressors he saw in employees while working at Target
Robert’s thoughts on the FIRE (Financial Independence, Retire Early) movement
What percentage people should be saving of their income
His advice for setting up your own professional website — and why it’s important
The best financial advice Robert has ever received

Full show notes at: http://studentloanplanner.com/27

SLP Consultants Debate Shady (and Legit) Payment Strategies May 28, 2019

Are you familiar with shady student loan practices versus legit ones that actually help student loan borrowers?

In this episode, the Student Loan Planner consultants — Travis Hornsby, Justin Harvey, Rob Bertman and Lauryn Williams — discuss what type of strategies to steer clear of and which ones could potentially save borrowers both money and stress.

In today’s episode, you'll find out:

Whether a borrower should claim that they can’t access their spouse’s income information
How student loan repayment strategies can sometimes lead to divorce
If starting your own 501(c)(3) for loan forgiveness is a good idea
How being small business owners can affect student loan repayment
Should you use your pay stub or your tax return to recertify income?
How a sudden change in salary could affect your income certification
Why researching any financial adviser you plan on working with is critical
Can you use last year’s tax returns to certify income? What the breadwinner and reverse breadwinner loophole is
Is moving abroad to avoid student loan payments a legit strategy?
What the die-with-your-debt strategy is

Full show notes at: http://studentloanplanner.com/26

Don't be an investing disaster like most student loan borrowers May 21, 2019

How familiar are you with investing? Are you prepared for retirement? You may be surprised to learn that, according to a recent Student Loan Planner investing survey, many in the SLP community are not financially ready for retirement.

Learn why your investing plan is just as imperative as paying off your student loans if you want to retire at a reasonable age (or even make work optional).

(Plus, learn how to sign up for Student Loan Planner’s investing course, available until 11:59 p.m. Eastern Time tonight!)

In today’s episode, you'll find out:

Why your investing plan is just as important as your student loan payoff plan
Why putting all your money into paying your student loans can impede your retirement
How financial advisers have changed from the era of pensions to now
Why so many financial advisers don’t understand the nuances of student loans
What the Student Loan Planner survey said about attitudes toward investing
How many respondents from the SLP community are using investment products
The difference between maxing and matching with retirement accounts
Three main questions survey respondents had about retirement and investing
How investing and student loan payoff plans would look in a real-world example
Why millennials have struggled with finances more than previous generations
How technology has shaped millennials’ finances for the better
Why the “Six-Figure Debt to Six-Figure Net Worth” investing course is worth it

Full show notes at: http://studentloanplanner.com/25

What dental, medical, veterinary and pharmacy residency programs are worth it? May 14, 2019

If you’re heading into a career in dentistry, medicine or pharmacy, is a residency worth it? What are the differences in requirements, and how do those affect your salary and student loan repayment? Here’s what the economic value of a residency could look like for you, and how it varies by profession.

(Also learn about Student Loan Planner’s brand-new investing course, launching alongside our podcast for one week only!)

In today’s episode, you'll find out:

How residency programs have proliferated
What the various programs are — and why some cost you and some don’t
How residency for medicine differs from other fields like dentistry and pharmacy
Travis’ thoughts on how hospitals could pay for residency programs
How pharmacy residencies are a special case
How hospitals have adapted to the massive influx of pharmacists
The value of residency in veterinary medicine
The economic value of residencies as far as what they’re designed for
Ultimately, is a residency worth it for doctors? For dentists? Veterinarians? Pharmacists?
What the Student Loan Planner investing course is all about

Full show notes at: http://studentloanplanner.com/24

Mark Stucker shares secrets of going to undergrad debt free May 07, 2019

Mark Strucker is an educational consultant based in Atlanta, Georgia. He’s worked in boarding school admissions and then the college admissions space for 19 years. After working in the KIPP (Knowledge is Power Program) Schools, he founded School Match 4U, a full-service educational consulting company that helps future college students and their families with the college admissions process.

Learn how Mark’s educational consulting company works, what his advice is for getting good financial aid and his thoughts on the recent college admissions scandal.

In today’s episode, you'll find out:

How Mark began working in the boarding school and college admissions space
Answers to common questions parents have when considering boarding school
College admissions counseling in public schools versus private or boarding schools
Mark’s four categories for helping families as an educational consultant
How to get a good aid package when applying to a school
What’s more important — a brand-name, prestigious school or educational value?
What percentage of students Mark sees take out student loans to fund their education
How retirement savings and home equity can affect financial aid
How future students can stand out to get merit money
Mark’s reaction to the college admissions scandal that surfaced in March 2019
How Mark believes college admissions will change in response to the scandal
How Mark’s full-service educational consulting company, School Match 4U, helps future college students and their families

Full show notes at: http://studentloanplanner.com/23

National security professional reveals personal FedLoan trainwreck Apr 30, 2019

Alan is a national security specialist living in the D.C. area. He graduated with $120,000 of student loan debt, which had now climbed to $160,000 with interest. His wife is a vice principal with about $40,000 of student loan debt herself. Both are working toward student loan forgiveness — Alan with Public Service Loan Forgiveness (PSLF) and his wife with Teacher Loan Forgiveness.

Learn about Alan’s struggles with FedLoan Servicing (the servicer in charge of all things PSLF) and how loan forgiveness is unfolding for both he and his wife.

In today’s episode, you'll find out:

How Alan ended up in the national security field — and what that career is really like
What education is required to work in national security
When Alan first realized he had tons of student loan debt
How bad advice from his loan servicer led his loan balance ballooning
How the incentive structures of loan servicer call centers affect the advice you get
Why it’s usually best to use your prior tax returns to certify income for income-driven repayment plans
How student loans affect married couples filing taxes jointly or separately
Alan’s experience with FedLoan Servicing after inquiring about loan forgiveness
Why PSLF is usually the better option over Teacher Loan Forgiveness — and how both programs work
Why an emergency fund is essential, especially as the student loan debt crisis will likely get worse
Alan’s tips for dealing with the psychology of debt

Full show notes at: http://studentloanplanner.com/21

Alex reveals the financial life and challenges of a marriage and family therapist Apr 23, 2019

Alex Barnette is a Licensed Marriage and Family Therapist (LMFT) who graduated from St. Edward’s University in Austin, Texas. She currently has about $115,000 in student loan debt that she’s paying off. She’s also launched her own practice — Alex Barnette Counseling, also located in Austin.

In today’s episode, you'll find out:

What schooling looks like for someone wanting to be an LMFT
The breakdown of various license abbreviations in the therapy world
The tuition to expect in a master’s program to become an LMFT
How private schools tend to raise their tuition cost every semester
How Alex handled her student loan debt while working after graduation
Why agency fees can make it difficult for LMFTs to focus on their student loans
How Alex took the leap to start her own practice
The difference between qualifying for Public Service Loan
Forgiveness and income-driven repayment loan forgiveness
How getting married can drastically affect your student loan repayment
Why student loan servicers can be so difficult to deal with
Alex’s advice on when to seek therapy — and how clients choose what to get out of it

Full show notes at: http://studentloanplanner.com/21

Becoming a millionaire with six figures of student debt Apr 16, 2019

Have you ever thought about being a millionaire — even if you have student loan debt? Then this episode will be powerful for you. Most people want to earn enough to retire comfortably and to live their dreams, but they aren’t sure how they can do it.

If you’re wondering how to prepare for the future when you’re dealing with a ton of student loan debt, here’s how you can hit a seven-figure level net worth.

In today’s episode, you'll find out:

Is it possible to become a millionaire with student loan debt?
How can a couple with $100k of combined income have a seven-figure net worth?
Why it’s so important to max your retirement accounts
How long does it take to become a millionaire?
Why is it a good idea to contribute to brokerage accounts?
How would becoming millionaire work for a couple earning a combined $200k? Or $600k?
Should you invest in savings or brokerage accounts?
How much do you need to save to be able to retire?
What’s the difference between maxing and matching your retirement contributions?
How Student Loan Planner’s upcoming investing course can help you

Full show notes at: http://studentloanplanner.com/20

Tim Ulbrich of Your Financial Pharmacist discusses the future of the pharmacist profession Apr 09, 2019

Tim Ulbrich graduated from the Ohio Northern University Doctor of Pharmacy program — which he decided on straight out of high school at age 18 — with $200,000 in student loan debt. After three years of Tim and his wife being on the Standard Repayment Plan and feeling like they were living paycheck to paycheck, they began aggressively paying back on the loans and were able to pay off the last of the debt in the fall of 2015.

Now Tim is a clinical professor of pharmacy and program director for the master’s program in Health-System Pharmacy Administration at Ohio State University. On top of that, he founded the Your Financial Pharmacist blog, co-hosts the Your Financial Pharmacist podcast and co-wrote the book “Seven Figure Pharmacist,” all of which are geared toward helping pharmacists realize their financial goals and achieve the lifestyles they want.

In today’s episode, you'll find out:

Tim’s journey into pharmacy school at Ohio Northern University
How the return on investment for pharmacy school has changed over the last decade
Why it’s essential to be strategic and intentional with your choice of school and your debt repayment strategy
How Tim ended up helping people in the pharmacy world with their money
How Tim and his wife paid off his high student loan debt
Train wreck situations and success stories Tim has seen in pharmacist finances
Tim’s thoughts on how residency has become more important for future pharmacists
Why the pharmacy profession needs to evolve — and what could happen if it doesn’t
How someone can become a seven-figure pharmacist
Whether or not Tim would support his children become pharmacists

Full show notes at: http://studentloanplanner.com/19

Justin Harvey shares his passion for helping student loan borrowers Apr 02, 2019

Justin Harvey is a brand new team member here at Student Loan Planner. As a student loan consultant, he’s hit nearly a hundred consults. He’s been in the financial industry since graduating from Villanova University in 2010.

After seeing the student loan debt his wife had as an anesthesia resident and how it’s impacted their lives, he launched his own firm in 2017, Quantifi Planning, which focuses on anesthesia and pain physicians with student loan debt.

In today’s episode, you'll find out:

How Justin began working in the financial industry
Why he decided to launch his own firm
How he ended up consulting at Student Loan Planner
Why it’s imperative to know what you’re doing before refinancing or consolidating your student loans
When hiring a student loan planner instead of relying on your student loan servicer might be a better option
Why “follow the money” should be your go-to phrase when choosing a financial planner
Justin’s thoughts on poor student loan advice
A few of his favorite anecdotes from consulting at Student Loan Planner
Why he tells people to “question the assumptions” before incurring student loan debt

Full show notes at: http://studentloanplanner.com/18

Moving to Dubai with massive dental school debt with David Donelson Mar 26, 2019

Dr. David Donelson graduated from Tufts University School of Dental Medicine with $330,000 in student loan debt. After practicing in New York City for two years, he felt compelled to find a brand new environment and found himself in Dubai, United Arab Emirates. The foreign earned income exclusion has allowed him to tackle his student loans more aggressively.

He still currently practices in Dubai, where he’s been located for seven years. He plans to return to the U.S. in the next few years and to finally kick the rest of his student loan debt.

In today’s episode, you'll find out:

David’s background in dental school at Tufts University
His experience practicing dentistry in New York City
How he ended up leaving the U.S. for Dubai
Why living in Dubai helped David’s tax situation
The cost of living in Dubai versus the U.S.
How the foreign earned income tax exclusion works — and could help with student loan debt
David’s tips for anyone wanting to practice dentistry in Dubai
How being a dentist in Dubai compares to the U.S.
David’s experience with refinancing his student loans
How living in a tiny town can bump up your income
His one regret while living in Dubai
David’s advice for living abroad

Full show notes at: http://studentloanplanner.com/17

Lauryn's path from Olympic gold medalist to student loan consultant Mar 19, 2019

Lauryn Williams isn’t just a student loan consultant here at Student Loan Planner. She’s also a four-time Olympian and three-time Olympic medalist who grew up learning to save and work hard for what she had. Though she graduated without student loan debt, she had many friends who struggled under the pressing weight of it.

At only 20 years old, she began earning a $200,000 income, and she trusted financial advisers to sort out what to do with her money. But when those advisers didn’t end up having her best interests at heart, she decided to learn as much as she could about student loan financial planning to be the change she wanted to see in the world.

She earned her MBA and CFP and started her own financial firm Worth While in Oct. 2015, where she currently works along with performing consultations for Student Loan Planner.

In today’s episode, you'll find out:

How Lauryn became one of the most prolific student loan consultants in the world
What her experience in the Olympics was like
How she transitioned from a career as a professional athlete into the financial industry
Her personal experience with the private wealth management world
Her path from being a track and field star in college to becoming the first American woman to win a medal in both the
Summer and Winter Olympic Games
Lauryn’s thoughts on professional athletes dealing with finances
How she started her firm Worth Winning
Why Lauryn is passionate about finances and helping people

Full show notes at: http://studentloanplanner.com/16

How to deal with the tax bomb from vet school with Amanda Ensor Mar 12, 2019

Dr. Amanda Endsor graduated from vet school with $168,000 in debt. She worked through school to make ends meet while accruing fewer student loans, and she had little support from her school when it came to handling her loans after graduating. She also continued her education into veterinary dentistry, and she’s now working to pay off her debt.

She currently practices veterinary medicine in Knoxville, Tennessee, where she’s also involved with Vinea, a women’s mentorship program.

In today’s episode, you'll find out:

• How Amanda decided on veterinary medicine and applied to vet school

• How she made her way financially through school

• Her thoughts on the lack of preparation and support from the school when it came to loan repayment

• The ethics of schools raising tuition

• Her reaction to her student loan payments right after graduating

• How Amanda came across Student Loan Planner and got help with her loans

• How Amanda talked with her husband about her vet school debt

• What it’s like to learn veterinary dentistry

• How Amanda got involved with Vinea, a women’s professional mentoring program

• Why women mentorship is so important

• Amanda’s advice for young women professionals

Full show notes at: http://studentloanplanner.com/15

Can you work part time (or not at all) with more than $100,000 of student loans? Mar 05, 2019

If you have student loan debt and want to work either part time or not at all, this episode will blow your mind. Most people want to work less than they currently are, but they aren’t sure how they can afford to do so.

No matter your life situation, it can be confusing to know how you can make your payments while working less. The strategies I’ll share in this episode will help you know how to approach both federal and private student loan debt if you want to cut your work hours — and how to live your life the way you want to.

In today’s episode, you'll find out:

Is it possible to work only part time (or not at all)?
Can you work less even if you have student loan debt?
What are reasons you may want to work less?
How to negotiate a part-time work schedule with employers
Strategies for paying student loans and preparing for a “tax bomb” while working less
How can you pay less on your federal student loans if you work less?
How to work less if you’re single
Ways to approach private student loans if you want to work part time
Can you take a sabbatical if you don’t work in academia?
How to approach student loan debt if you want to be a stay-at-home parent
How to handle student loans while living abroad and traveling
What’s the Foreign Earned Income Tax Exclusion?
Can you work part time while going for Public Service Loan Forgiveness?
How to start limiting your budget and tracking expenses

Full show notes at: http://studentloanplanner.com/14

Law school in the most expensive city in America with Jessica Cox Feb 26, 2019

Jessica Cox found herself in $300,000 of student loan debt after attending law school in New York. She went through many trials like losing her scholarships after her first year of classes.

Despite the struggles during the first year, she was able to come back the next year and make the dean's list. It wasn’t easy, but Jessica graduated from law school and is now working to pay back her debt.

She's currently working in legal marketing and business development in Houston, Texas.

In today’s episode, you'll find out:

Jessica's thoughts on law school after losing her scholarship after her first year
Her thoughts on the bar exam
What to do immediately after graduating law school
What it's like to work as a legal manager?
What moving to Texas did for Jessica's career
Can you get get a license in one state and practice in another?
Jessica’s first approach to tackling her student loan debt.
What did she do to get a better idea of her debt and how did she start paying it back?
How she used forbearance to help her get out of debt
Will refinancing make any impact on my credit score?
Has Jessica ever considered what impact her student loan debt can have on a future spouse?
What piece of advice would Jessica give someone who hasn’t yet attended law school?
What piece of advice would Jessica give someone who just graduated law school?
My thoughts on the future of law schools.
Is the schedule that a lawyer has worth the pay?

For more information, visit the show notes at https://studentloanplanner.com/13

Student Loan Hacks if you're over 50 Feb 19, 2019

If you are over 50 years old with student loan debt or know someone who is, this episode is going to be life-changing. There are 1.9 million people over the age of 50 who still have student loan debt.

It's no secret that the information surrounding most student loan debt is pretty bad and somewhat confusing. When you're in your 50s, 60s, and 70s dealing with student loan debt, it can be even more confusing as you deal with Social Security and different issues with Parent PLUS loans.

The student loan repayment strategies that I'm going to share in this episode will help you understand the core issues surrounding those who are 50+ with student loan debt, along with how to overcome them and get rid of the loans.

Full show notes at: http://studentloanplanner.com/12

Military careers to lower law school debt with Eric Meissner JD Feb 12, 2019

Eric Meissner is a Marine JAG who knew there would be financial benefits to joining the military. Eric had some good mentors and family members who encouraged him to attend law school.

He went in with the intention of getting a portion of his loans forgiven on behalf of the military. Eric graduated from law school with a little over $120,000 of student loan debt and his loans just came out of deferment. In this episode, we'll be discussing his repayment options, what led to his career path as a JAG in the Marine Corps, and any tips that can help someone who's also looking into a military career but is concerned about student loans.

In today’s episode, you'll find out:

What type of minor did Eric pair with his undergrad criminal justice degree?
What led him to join the Marine Corps
Did the military give any money for law school?
What type of assistance the military offers
How much debt Eric walked away with
So what would Eric have done if he did not join the military?
Are internships an option in the military?
Do you get extra time added to your term if you ask for tuition assistance?
What kind of income Eric can make as a JAG in the Marine Corps
What the retirement system is like in the military
Tips for law students who want to become a JAG
Does your five-year contract with the military start while you're still in law school?

Full show notes at: http://studentloanplanner.com/11

Are Student Loans good debt or bad debt? Feb 05, 2019

Is student loan debt good or bad? This is a controversial topic because we hear all the time from colleges and universities that student loan debt is 'good'. Still having loan debt can be stressful, especially if you owe six figures.

If you've ever wondered is student loan debt was better or worse than others or even how to turn your loan debt from bad to good, this episode is for you.

In today’s episode, you'll find out:

Which debt is worse, credit card or student loans?
What is negative amortization?
How much interest would you be paying at the end of say a PAYE plan?
How student loan debt accrues
How to change student loan debt from bad debt to good debt
Is student loan debt good debt or bad debt?
Is forbearance ever a good option?
Are graduate school programs good investments?
6 Factors to look at to decide if a debt is good or not
Good debt is tax deductible.
How having a repayment plan in place can make life less stressful
How to determine if refinancing is right for you

Links mentioned:

Studentloans.gov

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Feeling helpless when it comes to your student loans?

Try our free student loan calculator
Check out the refinancing bonuses we negotiated
Book your custom student loan plan

Our first client veterinarian Elaina Petrone shares how it all started Jan 29, 2019

Let's go back to the beginning when I landed my very first student loan consulting client. I’ve been very fortunate to have Elaina as a friend over the years and helping her with her veterinarian student loans is where it all began.

We met on a grouper date when a bunch of us got together and hung out. I actually was just helping out as a friend and didn’t take any sort of payment until I finally caved when she forced me to take some compensation.

Going through veterinary school, her student loan debt quickly piled up, but I was able to help guide her to the correct repayment methods for her situation.

In today’s episode, you'll find out:

Private schools or public schools? Which is "better" for professional degrees in terms of student loan debt?
Differences between a DVM and a VMD
How many different vet schools did Elaina apply for?
Working with someone you know and someone you don’t. (Travis as her SL advisor).
If Elaina had a chance to look for and start a practice where would she look?
What are the benefits of buying your own practice?
Why don’t some veterinarians want to become business owners?
What has been holding Elaina back from buying a practice?
Retirement accounts experience - What and how much Elaina decided to invest in?
Elaina’s ideal financial life?
New or used car? What’s a better investment?

Full show notes at: http://studentloanplanner.com/9

__________________________

Like the show? There are several ways you can help!

Subscribe on Apple Podcasts, Stitcher, or TuneIn

Leave an honest review on Apple Podcasts

Follow on Facebook, Twitter, or LinkedIn

Feeling helpless when it comes to your student loans?

Try our free student loan calculator
Check out the refinancing bonuses we negotiated

Book your custom student loan plan

How the FIRE movement could help you as a six figure student loan borrower Jan 22, 2019

Financial independence is a goal that many people strive for. Two-thirds of Americans would rather be doing something else with their time than showing up to work. In this episode, I’m going to cover the FIRE movement and why people want to achieve it.

Also, how can you achieve FIRE when you’re juggling 6-figures of student loan debt? It’s definitely possible, and I’ll go over some ways that you can make it happen despite your massive loan debt.

In today’s episode, you'll find out:

• What does it mean to be financially independent? • Why financial independence is not just a dream • What if you are in a situation where you owe more than double your income? • 10% or 20% of the population will be forced into retirement because of health problems • Are your monthly memberships and your subscriptions worth it? • Should you contribute as much as possible to your 401K? • What kind of thoughts should you have when buying a car? • Does actually loving your job affect any of this FIRE movement thinking?

Link to episode: https://www.studentloanplanner.com/8

The Cost of Becoming a Naturopath with Katelyn Bailey Jan 15, 2019

Katelyn Bailey is a student at the National University of Natural Medicine studying Naturopathic and Chinese Medicine. She received her undergraduate degree in Bio-Psychology from the University of California, Davis.

Katelyn lives in Portland Oregon with her spouse and really enjoys the value a naturopathic doctor can bring to patients. In this episode, she talks about what having a career as a naturopathic doctor would entail and some of the main differences between naturopathy and other careers in the medical field. She's also done a great job limiting loans outside of student loans like her car loans and credit cards.

In this episode, you'll find out:

How is the typical pay for naturopathic doctors in Oregon?
What kind of medication can naturopathic doctors prescribe?
When recruiting new students are some institutions overstating what a naturopathic medicine graduate will be potentially making after graduation?
What is the 4% rule?
Are residencies required for naturopathic students?
Is it best to own your own practice after graduating?
What type of retirement accounts should I open while still in school?
How many accredited naturopathic colleges are there in the US?
If she had a chance to start over. What would she do differently?
What are two paths Katelyn can take to pay her loans back?

For more information, visit the show notes at https://studentloanplanner.com/7

The Breadwinner Loophole with pediatric dentist, Dr. Quinn Yost Jan 08, 2019

Dr. Quinn Yost graduated from dental school with around $510,000 in student loan debt. From a young age, Dr. Yost knew he wanted to live in California during some point in his life.

He received the best scholarship that his private school offered and that only took care of half the tuition. Going through clinicals and actually working with the children changed his mind. Now a recent grad, he works for practice four days a week and is close enough that he can ride his bike to work.

Dr. Quinn is just one of many dental school graduates working hard to pay down massive student loan debt. I feel grads in a similar position can definitely relate to his story and implement some of the strategies he’s using to pay his debt off faster.

In today’s episode, you'll find out:

The factors and decisions leading up to Dr. Quinn’s choosing which school to attend when he knew he wanted to go into pediatrics.
How much extra it can cost to get a specialty in pediatrics.
What his biggest mistake was in dental school and residency
What he has done about his private loans so far, and what his future plans are
How important it is to shop around with at least 3 companies when considering refinancing your private school loans
When I suggest you shouldn't refinance your loans
How he has dealt with his 15K in credit card debt while having student loan debt
What the breadwinner loophole is and where it is offered
What an in-school deferment wavier request is and how it can benefit you
How to best compare PAYE and revised PAYE
Options to prepare for the tax bomb

For more information, visit the show notes at https://www.studentloanplanner.com/6

Where do people lose most of their money? | Robert Bertman Jan 01, 2019

There are 40 million people currently carrying student loan debt and about 3 million have six figures of student loan debt. Rob is one of our senior consultants who is a Charted Financial Analyst (CFA) and a Certified Financial Planner (CFP). He has done over 400 consults for Student Loan Planner and specializes in helping people who have student loan balances between $200,000-$400,000.

After meeting me at the Cortex Innovation Community in St. Louis and listening to a few of my consultations, Rob knew he wanted to join the team. After graduating college in 2001 and working a few jobs including one he worked at for 12 years, Rob knew his real passion was helping people find more money in their budget that they won’t miss. Rob began his career with Student Loan Planner in the Fall of 2017 when I started getting too busy with consultations and trying to produce articles for the website as well.

Rob has been an amazing addition to the team and friend, so I was super excited to interview him on the podcast this week.

In today’s episode, you'll find out:

What type of careers Rob had before he joined SLP
How starting his own business went
How having a supportive spouse was beneficial when pursuing a new career
How it's possible to raise a family and pay off your student loan debt
His take on whether financial services should be free or come with a fee
What he enjoys about working for Student Loan Planner

For more information, visit the show notes at https://studentloanplanner.com/5

Paying down debt from nursing school with Jenna Dec 25, 2018

Jenna is an RN who recently graduated with a masters and $150,000 in student loan debt. We're discussing the many different ways to pursue an RN degree today along with what to do about the student loans you could accumulate.

I'm grateful to have had the opportunity to sit down with Jenna and hear her story and a plan for tackling the nursing student loan debt. A large number of nurses are eligible for student loan forgiveness. The issue is they just aren’t informed about the program or their options. If she could do it all over again, would Jenna pursue a Master’s in nursing? We discuss this and more in the episode!

For more information, visit the show notes at https://studentloanplanner.com/4

Dealing with Dental School Debt | Samantha the Debtist Dec 17, 2018

Dental school debt is frequently $200,000 to over $600,000.

Even more for specialties like orthodontics, OMFS, endodontics, etc.

How do you do everything you want to do like buy a practice, save for retirement, have a family, etc.?

Samantha from https://thedebtist.com/ explains her thoughts on taking out tons of loans, how she made a $10,000 a year mistake with her repayment plan selection, her unconventional approach to debt, and more.

In this episode, you’ll learn:

Where you’ll need great Yelp reviews to succeed and where your patients have yet to hear about “The Yelp”
How Samantha is paying back loans in a way that I wouldn’t recommend, which is ok. However, she could be repaying her debt in a much smarter way.
How your loan repayment can go together with travel, mission trips, and other non-financial goals.
When you should refinance your student loans with a referral bonus: http://studentloanplanner.com/refinance-student-loans/
How family expectations can influence your career choices.
Samantha also shares what she’d do differently with her career if she could do it all over again.

For more information, visit the show notes at https://studentloanplanner.com/003

The PSLF Snowball Effect Dec 16, 2018

Why is Everyone Getting Rejected for PSLF Right Now? Recent stats for 2018 showed that only 96 borrowers out of more than 28,000 actually received loan forgiveness.

No one seems to understand the PSLF program. In fact, the acceptance rate for applications will be exponentially increasing over the next few years thanks to the “PSLF Snowball Effect.”

For more information, visit the show notes at https://studentloanplanner.com/002

Introducing: The Student Loan Planner Podcast Dec 11, 2018

The student loan crisis is looming. CFA and Student Loan Expert, Travis Hornsby, shows why almost every professional you meet these days owes more in student debt than a brand new Mercedes.

If you’ve got six-figures of student loan debt, this show is for you.

For more information, visit the show notes at https://studentloanplanner.com/001

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