Student Loan Planner

Stephanie Bousley talks about how to get rid of student loan debt to live your best life in her new book Buy the Avocado Toast. This week, I talk with Stephanie about how she accumulated $300k of student loan debt while going to film school in one of the most expensive cities in the world, and how she's paying it off while living a comfortable life. In today's episode, you'll find out: Why you can't work your way out of student loan debt How having six-figures of debt doesn't make you irresponsible Stephanie's struggle with shame and secrecy about her debt Why Stephanie has refinanced her student loans 5+ times What I would have advised Stephanie if she were my client Stephanie's advice about rewarding yourself even when you have debt Full show notes at: http://studentloanplanner.com/70

A lot of people have had significant changes to their incomes as a result of the coronavirus pandemic. If you've had a drop in pay, you could get some relief by lowering your student loan payment. I sat down with our very own Meagan Landress, CSLP®, to walk you through how to recalculate your student loan payments during an economic disaster. In today's episode, you'll find out: How to lower your student loan payment without making a single phone call Which application to use to recalculate your payment immediately The documentation you need to change your student loan payment Why deferment or forbearance is a bad idea What to do if you're in default on your payments right now Whether you should refinance if you have private student loans How to get free student loan advice from Student Loan Planner Full show notes at: http://studentloanplanner.com/69

With the stock market and global economy in a state of flux, I've been getting some questions about investing and coronavirus. People are asking about the possibility of a recession. Coronavirus is a very serious concern. I'm going to help you assess whether you should invest from a rational perspective, starting with asking yourself "what does this mean for me and my family." In today's episode, you'll find out: What I think about the possibility of a recession How coronavirus compares to the Spanish flu Why the stock market fell 15% during the Spanish flu How the stock market rebounded during the 1918 pandemic What is really killing the markets right now How to protect your investments during coronavirus outbreak Whether or not you should be investing right now Full show notes at: http://studentloanplanner.com/68

Even though I can think of about 600,000 things I'd rather talk about than taxes, it's something we can't ignore. I see people all the time paying way more in taxes than they should be. Today, I'm going to help you understand what you're actually paying and why. Then we'll jump into long-term tax planning strategies and some tips on what you can do right now to lower your tax bill as a student loan borrower. In today's episode, you'll find out: What adjusted gross income (AGI) is and why it matters The difference in tax brackets if you're single vs. married How to pay $0 in taxes on investment income Ways to reduce your taxable income How business owners can add even more to their retirement savings What the breadwinner loophole is and how it can save you money Why you might consider amending old tax returns How to get more help if you need it Full show notes at: http://studentloanplanner.com/67

If you're overwhelmed by the idea of student loan interest raging out of control, this episode is for you. I sat down with our senior student loan consultant, Rob Bertman, CFP®, CFA to dig into the details about why student loan interest isn't as bad as you think. Bertman has over 15 years' experience as a financial planner and is the mastermind behind Family Budget Expert. Here's what he has to say about how interest can impact your student loans. In today's episode, you'll find out: • Why student loan interest isn't as bad as you think it is • How student loan interest works • The repayment plan that gets the government to cover some of your interest • Why forbearance is such a terrible idea • How to use an old tax return to lower your student loan payment • Why it's best to stick with an IDR plan in residency • Why consolidating right after you graduate can be a winning strategy • How the "fighting spouses loophole" can help if you live in a community property state Full show notes at: http://studentloanplanner.com/66

Jantz Hoffman is the founder of the Certified Student Loan Professional (CSLP®) designation that helps financial advisors incorporate student loan repayment planning in their practice. I invited him on the show to get his thoughts on student loan fraud and all the fake experts out there. Brief intro to episode In today's episode, you'll find out: What gave Jantz the idea for CSLP Why there's no value in falsifying student loan documents Reasons Jantz says not to be nervous about PSLF going away Problems Jantz has had with student loan services How applying for PSLF is like going to Olive Garden Why statistics in the media are wrong Full show notes at: http://studentloanplanner.com/65

Student loan reform is a hot topic with the upcoming election. I asked Student Loan Planner Consultant Lauryn Williams to weigh-in on some of what the proposed plans might mean for your student loan payment. Join me as we walk you through what the future of student loans might look like. In today's episode, you'll find out: How Bernie's "let's forgive all the debt" plan could boost the economy If a Wall Street tax would help or hurt the middle class How Warren's needs-based plan could lower your debt balance Why refinancing all student loans won't solve the problem Just how big the racial wealth divide is The huge problem with our current student loan system What you can expect to happen in the future with student loans Full show notes at: http://studentloanplanner.com/64

Student loans are complicated enough on their own. When you add student loan scams to the mix, they can be almost unbearable. That's why I'm going to cover the top 7 student loan "Travis"-ties, so you can avoid getting caught up in a mess. In today's episode, you'll find out: The most common student scams you need to watch out for The student loan scam that cost one reader over $50,000 Why parents shouldn't pay for their kids' college Questions to ask a financial advisor to test their student loan knowledge Why most school exit counseling is so terrible Why you shouldn't panic if you no longer qualify for a partial financial hardship Full show notes at: http://studentloanplanner.com/63

Free money from your employer to help pay off your loans is a great idea, right? Wrong! It could be one of the worst employee benefits ever. I'll break down how this can affect your finances and show you how employer student loan benefits are a bad idea. In today's episode, you'll find out: Why taking money from your employer for student loans is a trap How a free $100,000 can end up costing you $50,000 The tax consequences of employer-paid student loan payments The effect of employer student loan benefits on PSLF The problem with old-school thought patterns about debt Why "getting your debt to zero" isn't the best strategy How to get ahead by negotiating employer benefits Full show notes at: http://studentloanplanner.com/62

As part of our series on introducing you to new members of the Student Loan Planner team, I want to take a moment to talk with Meagan Landress. She is a Certified Student Loan Professional™ and today she's sharing her best student loan loopholes and strategies to help you conquer your student loan debt. In today's episode, you'll find out: What led Meagan to student loan consulting How "married filing separately" can lower your payment How to double-dip with the poverty line deduction What double consolidation can do for Parent PLUS borrowers The legal loophole to open up Parent PLUS loans to IDR plans Why you need a student loan plan if you live in one of these 9 states How to book a consult with Meagan to crush your student loans Full show notes at: http://studentloanplanner.com/61