Student Loan Planner

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! 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 help@studentloanplanner.com 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! 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 help@studentloanplanner.com 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  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 help@studentloanplanner.com 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  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 help@studentloanplanner.com 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 help@studentloanplanner.com and we might feature it in an upcoming show!  

Curious about student loan planning? This episode is packed with real-life scenarios, insider knowledge, and practical advice for your student loan journey. Get insight into ambiguous regulations, servicer misinformation and the impact it has on borrowers from Lauryn Williams, CFP®, CSLP®, AFC®, and Justin Kim-Hummel, former client and integral member of the Student Loan Planner team who brings a wealth of experience from his background in PR, graduate studies, and time working on Capitol Hill. Together, they tackle challenges, answer frequently asked questions, and reveal the dedication and care that goes into every consultation. Learn why this is more than just advice. It's about ​​connecting with experts who genuinely care about your financial well-being and student loan success. In today’s episode, you'll find out: Justin's journey from client to becoming a crucial part of the Student Loan Planner team Firsthand insight into why many borrowers are dealing with misinformation and lack of clear guidance from loan services The dangers of following bad advice from student loan servicers Key benefits of booking a consultation for personalized advice and savings How uncertainty surrounding the election can impact student loan policies How to best use the free resources offered by the Student Loan Planner team How the Student Loan Planner team uses office hours to manage client questions and concerns What kind of post-consultation support you get when implementing your custom plan What information you'll need to share with a consultant to get the best advice How a consult can address the unique financial situations of high earners who may not qualify for forgiveness How expenses like credit card debt and housing costs factor into student loan repayment options The limitations of giving advice by email and how the customer support team manages expectations Why you don't have to turn on your camera during a virtual meeting with a consultant How long it takes to get a personalized student loan 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  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 help@studentloanplanner.com and we might feature it in an upcoming show!  

Travis shares the best stress reduction strategies out there for current and aspiring business owners. Enroll at https://studentloanplanner.com/profit

Get ready to uncover the myths, master the rewards, and smartly amplify your spending power — all while keeping your finances sharp and your debt strategy on point. Whether you're looking to squeeze every last benefit out of your credit card points, contemplating the right card for your business expenses, or simply looking to use your cards more strategically, this episode is a goldmine. Listen in as Meagan McGuire, ChFC®, CSLP®, and Mary Rush, CFP®, CSLP®, talk tricks, tips, and savvy spending with every swipe. Discover how to make every dollar and every point work harder for you. In today’s episode, you'll find out: How to leverage credit cards and credit card rewards to your advantage About the benefits Meagan and Mary have personally enjoyed from credit card rewards programs Why the common belief that carrying a balance improves your credit score is wrong How maintaining a low credit utilization rate can benefit your financial health When and how to utilize 0% balance transfer cards to manage debt effectively strategies for using credit cards as budgeting tools, including how to use statement balances The perks of cashback vs. niche-specific credit cards and which is best for you Why credit cards provide better fraud and travel protection than debit cards Mary's strategy for maximizing rewards with travel and cashback credit cards Meagan's experience with using a credit card for business and the rewards she missed from not using a personal card Details on point conversions of airline miles, cashback and reward points Tips to utilize credit cards for significant expenses like weddings, home improvements or even paying taxes   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 help@studentloanplanner.com and we might feature it in an upcoming show!  

A timely discussion of what happens as we face down the expiration of the IDR waiver. Will the administration extend it at the last second? We don't know (as of the time of the recording). But one thing is sure: Borrowers can expect seismic shifts as the IDR waiver ends. It's been key to unlocking the forgiveness gates for many, but its flexible counting of nearly any kind of payment toward forgiveness expires at the end of April. We'll recap the IDR waiver and its benefits and explore what happens after the IDR waiver ends. Get clarity about your next steps and the implications of these changes on your student loan repayment journey. In today’s episode, you'll find out: How the end of the IDR waiver impacts borrowers who've been in forbearance or deferment Changes borrowers should prepare for after the IDR waiver expires How borrowers with older loans will suffer the biggest consequences as this program ends Options for maximizing qualifying payment count when consolidating loans Consequences borrowers will face when Pay As You Earn (PAYE) applications close What the precedent of moving borrowers from REPAYE to the SAVE plan means for the future of IDR programs How to calculate the cost-benefit of married filing separately for taxes Tips to navigate the PSLF pause during the transition from MOHELA to the Department of Education  What “consolidation Death Valley" is and why it could impact you in May-June 2024 Best practices for dealing with the coming uncertainty of student loans Links mentioned:  StudentAid.gov   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 help@studentloanplanner.com and we might feature it in an upcoming show!  

Roth IRAs are a highly recommended retirement savings option but it’s not all smooth sailing. Student loan repayment, income limitations, and tax filing status can lead you to treacherous waters. Learn the missteps to avoid and how to correct mistakes before they escalate into hefty fines and taxes. Join student loan advisors Meagan McGuire, ChFC®, CSLP®, Sim Terwilliger, CFP®, CSLP®, and Sam Silberstein, CFP®, CSLP®, and explore contribution deadlines, the pro-rata rule, form 8606, the impact of being in a community property state, and how dual-income households should strategize their student loans and retirement savings. If you’re tired of cookie-cutter advice, you don’t want to miss this episode. In today’s episode, you'll find out: Why lack of profession-specific planning is the biggest mistake you can make in your financial journey The impact of the pro-rata rule when converting traditional IRA funds to Roth IRAs When to contribute to your Roth IRA to maximize your retirement savings Why high-earners might want to contribute to a Roth IRA despite income limits How to fix backdoor Roth IRA issues, including tactics for zeroing out accounts The importance of prioritizing pre-tax savings when you’ve got student loans How community property states complicate Roth IRAs and what to do about it Dodging extra taxes and penalties is possible if you contributed to a Roth by mistake How side hustlers and independent contractors can leverage Solo 401(k) plans  Why income projections are critical to nail the right contributions and keep the IRS happy   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 help@studentloanplanner.com and we might feature it in an upcoming show!