Wealth and Wisdom Together®

90. Reviving Your Repayment: How To Prepare For Changes In Student Loan Repayment


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Do you want to achieve better financial stability and effectively manage your student loans? Are you searching for a solution to improve your financial well-being and gain control over your student loan repayments? Look no further; we will share the key to attaining that desired outcome.  On this episode of Wealth and Wisdom Together™, you can discover a solution that will enable you to gain financial peace of mind and effectively handle the new student loan repayment changes.

Understanding the recent changes in student loan updates is a critical task.   It provides a clear advantage for loan holders, enabling them to devise effective repayment strategies.  Detailed insight into these changes can result in better management of financial resources, ultimately leading to improved financial well-being.

 

Episodes Highlights:

06:30 - Preparing for Repayments

09:34 - New Repayment Plans

12:00 - The SAVE Plan

19:00 -  Defaults, Delinquencies, Consolidation and the Fresh Start Initiative

27:00 - New to Student Loan Repayments


RESOURCES:

  • Identify your loan servicer: Visit https://www.StudentAid.gov

  • Check your dashboard on StudentAid.gov or contact your loan servicer to find out what income-driven repayment plan you are currently enrolled in or eligible for.

  • Consider the SAVE plan: If you were enrolled in the Revised Pay As You Earn (REPAYE) plan, you will automatically be enrolled in the SAVE (Saving on a Valuable Education) plan. Research the eligibility requirements and benefits of the SAVE plan to see if it is the best option for you.

  • Student Loan Payment Calculator: https://studentaid.gov/loan-simulator/

  • Let’s Connect

    Connect with Weslia Echols, AFC®  and  Willa Williams, AFC®, 

    Facebook and Instagram: @wealthwisdomtogether  

    Trinity Financial Coaching: https://www.mytfcoach.com/


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    Wealth and Wisdom Together®By Willa Williams and Weslia Echols