Student Loan Planner

In this monumental 50th episode, I'm taking you back in time on my journey of starting this thing called Student Loan Planner. Here's the story of why I feel deeply called to helping you and others like you make sense of your finances and what I've learned over the past 3 years of working full-time in the world of student loans. In today's episode, you'll find out: Why some school are honest and others are downright profit-hungry Why colleges foot the bill for flights, hotels, meals, and more when you agree to a tour The things people put too much focus on when it comes to personal finance The only three areas you need to focus on to make your money work for you The secret I've learned to increase your savings rate What happens when you think in terms of value rather than cost What I think about the future of student loans The crucial piece that most people miss when it comes to investing The biggest worry about I have about running Student Loan Planner Full show notes at: http://studentloanplanner.com/50

Leif, known as the Physician on FIRE, helps physicians attain financial freedom and early retirement. He shares savvy tips on utilizing locum tenens roles for greater flexibility, and emphasizes how to retire before the traditional age. Leif discusses escaping undergraduate debt and weighs loan forgiveness as an anesthesiologist. He sheds light on the impact of burnout and identifies two key splurges that bring him joy. Tune in for an insightful conversation that offers a fresh perspective on achieving financial independence in medicine!

Student loan refinancing can be a big help to your financial goals. But some refi strategies can make it so you can't buy a house or start a business. In this episode, I'll talk about when a refi makes sense for you and discuss how the economy, a recession, and changing interest rates factor into your decision. In today's episode, you'll find out: What is a refi ladder and can it work for you How doing more than one refi can be a smart move The reason to refi to a longer term at a higher interest rate Why you shouldn't worry about your credit score when you refinance The risk of going with an aggressive repayment strategy How your student loans can impact buying a house or starting a business How government interest impacts the interest you pay What would happen to student loan interest rates in a recession When variable rates are a smart move in your refi strategy Full show notes at: http://studentloanplanner.com/48

Robert Berger, Deputy Editor at Forbes and author of Retire Before Mom and Dad, is passionate about helping others build financial independence. In this episode, I talk with Robert about how to plan for retirement and the seven levels you need to reach financial freedom. In today's episode, you'll find out: What "retirement" can look like for you The seven levels of financial independence Is the 4% rule still relevant? How student loan borrowers can reach financial independence What is the "money audit" and how it can help cut your spending Why cars are a financial freedom killer What retirement account is the best first step to investing Why expense ratios are a huge factor in investing How to experiment with your finances to increase your savings Full show notes at: http://studentloanplanner.com/47

There are many reasons you should start a business. Business owners tend to make more money than associates. A business owner could pay less taxes than an associate, too. Overhead is often 45% to 60% depending on the practice, which means profit would be 40% to 55% instead of 28% to 33% as an associate. I spell out all the benefits of owning a business. In today's episode, you'll find out: Why you should start a business now even if you have student loans What makes the risk of being an entrepreneur lower than you think Why a dentist probably shouldn't open a restaurant business Legal write-offs to save 50% or more in taxes Why adding your spouse to your payroll can help the business How self-funded pension plans can fuel your retirement The advantage of a fiduciary financial planner for your business Why private practice is a better choice than PSLF How your business can help your REPAYE subsidy For more information, visit the show notes at https://www.studentloanplanner.com/why-start-business/

Reese Harper, a Certified Financial Planner and founder of Dentist Advisor, specializes in financial planning for dentists. In this episode, learn his thoughts on the financial planning industry, how to be successful running a dental business and whether now is the best time in history to be a dentist. In today's episode, you'll find out: How Reese got started with his firm His thoughts on the financial planning industry Conflicts of interest in financial planning The typical wealth and income Reese sees with his dentist clients How DSOs (Dental Support Organizations) are affecting dentistry What to focus on early in your dental career Why there's a place for different business models in dentistry Why dentists have to think about the business side of things Why trust is everything in a producer-consumer relationship Reese's thoughts on a fair price for a financial planner How income and net worth impact the cost of a financial adviser Is now the best time in history to be a dentist? Full show notes at: http://studentloanplanner.com/45

Why do so many financial advisers give lousy student loan advice? In this episode, the Student Loan Planner consultants — Travis Hornsby, Justin Harvey, Rob Bertman and Lauryn Williams — discuss what to look for in a financial adviser, what leads to this bad advice and why an experienced financial adviser is key. In today's episode, you'll find out: What to look for in a good financial adviser Why financial advisers need to disclose all conflicts of interest Why Student Loan Planner isn't a fiduciary investment adviser How Student Loan Planner can provide the best cash-back bonuses Why most financial advisers aren't expert on niche topics What could lead a financial adviser to give poor advice Why paying a hefty fee for an adviser isn't always a bad thing How good information lets you make sound financial decisions Why you need to interview potential financial advisers How not having enough experience leads to bad advice Why student loan strategies are foreign for many advisers Why finding an experienced financial adviser is key Full show notes at: http://studentloanplanner.com/44

Trent and Somer are the first couple in history to both get tax-free student loan forgiveness through the Temporary Expanded Public Service Loan Forgiveness (TEPSLF) program. Learn about how they qualified, their journey to forgiveness and their advice for those looking to do the same. In today's episode, you'll find out: How much student loan debt Somer and Trent graduated with How they managed to get Direct Loans What it was like for Trent to consolidate his loans in the late-2000s. How Trent ended up with five years not counting toward TEPSLF How Somer was signed up for the wrong repayment plan When their loans went to FedLoan Servicing How changing your name can cause student loan problems Why Trent's TEPSLF was a little harder to process Trent's reaction to finding out his student loans were forgiven Somer's emotions when she saw her loans had also been forgiven Somer's thoughts on why loan forgiveness isn't just free money The steps to qualify for TEPSLF Trent and Somer's advice for those going for TEPSLF Full show notes at: http://studentloanplanner.com/43

Using the refinancing ladder strategy can help student loan borrowers get out of debt much faster. In this episode, learn how the refinancing ladder works for refinancing student loans — and how to decide if refinancing is right for you. In today's episode, you'll find out: • What is the refinancing ladder strategy? • When is refinancing a good decision? • Why you shouldn't refinance federal loans too soon • What, exactly, is student loan refinancing? • How student loan refinancing differs from other refinancing • How Student Loan Planner's cash-back bonuses work • The differences between short-term and long-term refinancing • How to calculate your payment with various loan terms • How many times do people generally refinance? • How to use the refinancing ladder strategy • Should you go with a variable or fixed rate? • How historic refinancing rates compare to the rates of today • How variable rates are calculated • Why don't more people refinance their student loans? • Why putting off your financial health is unwise • How lenders profit from borrowers who don't know to refinance • Who should and shouldn't refinance their student loans • Benefits of using the refinancing ladder with cash-back bonuses Full show notes at: http://studentloanplanner.com/42

Do you wonder why our student loan plan consult form has you give so much information? Hear the Student Loan Planner consultants — Travis Hornsby, Justin Harvey, Rob Bertman and Lauryn Williams — break down all 26 questions and explain how your plan is unique. In today's episode, you'll find out: How the consultants react to learning someone's occupation Why the consultants want to know what metro area you're How community property states affect student loans How your choice of school might influence your loans The consultants' thinking on different loan balances Why knowing the different kinds of loans you have is crucial How your income affects possibly refinancing Why your payoff plan involves your projected income How interest works with student loans What your retirement savings lets the consultants know How savings illustrates your financial mindset Why the date you took out your loans matters How the consultants make a plan based on your information What your spending level indicates How both empathy and being realistic plays into your plan Why savings versus debt matters How family size factors in How Parent PLUS Loans and PSLF factor into the consult Why filling out the entire consult form is critical Full show notes at: http://studentloanplanner.com/41