Student Loan Planner

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.

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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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:

• PSLF Help Tool

• StudentAid.gov

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Feeling helpless when it comes to your student loans?

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• Book your custom student loan plan
• Get profession-specific financial planning

Do you have a question about student loans? Leave us a voicemail here or email us at [email protected] and we might feature it in an upcoming show!

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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• Follow on Apple Podcasts, Spotify or Amazon Music
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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
• Get profession-specific financial planning

Do you have a question about student loans? Leave us a voicemail here or email us at [email protected] and we might feature it in an upcoming show!

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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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
• Get profession-specific financial planning

Do you have a question about student loans? Leave us a voicemail here or email us at [email protected] and we might feature it in an upcoming show!

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

Like the show? There are several ways you can help!

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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
• Get profession-specific financial planning

Do you have a question about student loans? Leave us a voicemail here or email us at [email protected] and we might feature it in an upcoming show!

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

Like the show? There are several ways you can help!

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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
• Get profession-specific financial planning

Do you have a question about student loans? Leave us a voicemail here or email us at [email protected] and we might feature it in an upcoming show!

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

Like the show? There are several ways you can help!

• Follow on Apple Podcasts, Spotify or Amazon Music
• Leave an honest review on Apple Podcasts
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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
• Get profession-specific financial planning

Do you have a question about student loans? Leave us a voicemail here or email us at [email protected] and we might feature it in an upcoming show!

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

Like the show? There are several ways you can help!

• Follow on Apple Podcasts, Spotify or Amazon Music
• Leave an honest review on Apple Podcasts
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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
• Get profession-specific financial planning

Do you have a question about student loans? Leave us a voicemail here or email us at [email protected] and we might feature it in an upcoming show!

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

Like the show? There are several ways you can help!

• Follow on Apple Podcasts, Spotify or Amazon Music
• 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
• Get profession-specific financial planning

Do you have a question about student loans? Leave us a voicemail here or email us at [email protected] and we might feature it in an upcoming show!