Student Loan Planner

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   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  Follow on Facebook, Twitter, or LinkedIn   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!  

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   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  Follow on Facebook, Twitter/X, or LinkedIn   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!  

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 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  Follow on Facebook, Twitter, or LinkedIn   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!  

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 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  Follow on Facebook, Twitter, or LinkedIn 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 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   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  Follow on Facebook, Twitter, or LinkedIn   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!

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 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  Follow on Facebook, Twitter, or LinkedIn   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!  

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   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  Follow on Facebook, Twitter, or LinkedIn 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 latest update on the status of Student Loan Cancelation based on the announcements made June 30, 2023. ____ 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  Follow on Facebook, Twitter, or LinkedIn 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!  

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   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 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  Follow on Facebook, Twitter, or LinkedIn 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!

“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 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   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  Follow on Facebook, Twitter, or LinkedIn   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!