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The student loan landscape is shifting again! In this episode, Evon breaks down the latest updates on the SAVE Plan, the recent court rulings, and what these changes mean for optometrists navigating their student loan repayment.

With major legal challenges in play, borrowers on SAVE are currently in interest-free forbearance, but the future of the program remains uncertain. Evon unpacks the key takeaways from the recent 8th Circuit Court of Appeals decision, discusses potential next steps, and shares what optometrists should consider when making student loan repayment decisions.

What You’ll Learn:

✅ Background on the SAVE Plan & Legal Challenges – Why the courts put SAVE on hold and what’s next
✅ What This Means for Optometrists – How the latest rulings impact those on SAVE, PAYE, and IBR plans
✅ Should You Switch Plans? – Factors to consider before making a move
✅ Tax Strategies for Student Loan Borrowers – Filing tips to optimize student loan repayment
✅ Preparing for Uncertainty – Practical steps to protect your financial future

Key Takeaways:

💡 The SAVE Plan is currently blocked, and applications for income-driven repayment plans & loan consolidation are unavailable.
💡 Borrowers on SAVE forbearance are not accruing interest, but these months do not count toward forgiveness.
💡 Income-Based Repayment (IBR) is still available and could be an alternative for some borrowers.
💡 If you’re going for Public Service Loan Forgiveness (PSLF), the recent rulings do not impact the program directly, but timing your repayment strategy is critical.
💡 Tax planning is essential – Your tax filing status (Married Filing Separately vs. Jointly) and timing of recertification can significantly affect student loan payments.

Actionable Steps for Optometrists:

🔹 If you’re on SAVE forbearance – Consider whether staying put or switching to IBR/PAYE (when applications reopen) makes sense for your situation.
🔹 If you’re nearing forgiveness (20-25 years) – Switching to IBR sooner may be necessary to receive forgiveness.
🔹 If you’re married – Review tax filing strategies to exclude spousal income from payment calculations.
🔹 If your income has increased significantly – Be aware that switching to IBR/PAYE could trigger higher payments.
🔹 If you’re pursuing PSLF – Understand the buyback provision and how it affects your repayment plan.

Resources & Next Steps:

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📅 Need Student Loan Help? Book a free intro call with Evon to discuss your student loan strategy and overall financial plan. Schedule a call here.

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The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.