Student Loan Planner

Latest Episodes:

Final countdown for the IDR Waiver Dec 05, 2023

Show notes

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

Show notes

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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Check out our refinancing bonuses we negotiated
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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

Show notes

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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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!

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

Show notes

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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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!

The Coming Married Filing Separate Bonanza Nov 07, 2023

Show notes

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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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!

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

Show notes

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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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!

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

Show notes

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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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!

A New Subsidy Strategy Has Arrived Oct 17, 2023

Show notes

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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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

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

Show notes

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

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

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

Show notes

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

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

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!

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