With recertification deadlines for income-driven repayment (IDR) plans being pushed back repeatedly, there's a growing concern that borrowers may be hit with unexpectedly high payments once these delays finally end. This situation is creating what I call  the “IDR recertification time bomb.” In today’s episode: 03:37 Payments could skyrocket to 10 or even 20 times their current amount 07:03 IDR recertification could lead to chaos if the courts nix the Saving on a Valuable Education (SAVE)...

From mounting credit card and auto loan debt to the less obvious pitfalls of inflation and misguided investment choices, Meagan McGuire and Sim Terwilliger unpack the five financial traps they see student loan borrowers falling into. In today’s episode: 01:41 Credit card debt, average balances by generation, and the best defense against growing balances 11:02 Car payments, average loan terms, and the pros and cons of buying vs. leasing 23:14 Unchecked consumerism, the lure of...

As legal battles unfold, student loan borrowers face a wave of uncertainty. In this episode, I’ll break down the latest developments from the 8th Circuit Court and explore how their recent rulings could impact the future of student loan forgiveness plans like Saving on a Valuable Education (SAVE). In today’s episode: 02:33 The 8th Circuit Court's decision to halt the 400-page SAVE plan 05:04 My take on why the court may view the Biden administration's actions as illegal 06:58 Could the...

Ever wondered how politicians invest? Join me and special guest Meagan McGuire as we discuss the portfolios of Vice President Kamala Harris and other political figures. We'll explore the importance of a balanced portfolio and share our personal experiences on the value of seeking professional advice. In today’s episode: 03:33 Kamala Harris’s portfolio that Meagan calls “vanilla boringness” 04:58 Senator Clinton's optimized, low-cost, passive investment portfolio 07:11 Speaker Pelosi’s net...

The latest on the Biden administration’s student loan cancellation program includes opt-out provisions that have left many scratching their heads. I’ll cover that and explain the legal back-and-forth and endless policy changes of student loan repayment, so you don’t have to feel so alone.   In today’s episode: 00:36 The 8th Circuit Court ruling means everything about the Saving on a Valuable Education (SAVE) plan is going to stay locked down 05:58 Positive outcomes that benefit...

Switching jobs is about more than employee benefits and compensation packages when you’re a student loan borrower. Student loan advisors Connor Pierce and Jake Courtney explore how federal student loans can adapt to income changes, making them less stressful when contemplating career moves or starting a business.  In today’s episode: 06:10 Analyze Public Service Loan Forgiveness (PSLF) vs. private employer repayment options 13:29 Calculate hourly pay rate to assess commuting worth ...

The labyrinth of pre-COVID student loan rules are making a dramatic return. I’ll explore the Biden administration's key regulations impacting Public Service Loan Forgiveness (PSLF) and income-driven repayment (IDR) plans, the legal battles putting these changes on ice, and what it means for borrowers caught in the middle. In today’s episode:   01:50 Revival of Pay As You Earn (PAYE) and Income-Contingent Repayment (ICR) plans 04:45 PSLF borrowers have less to worry about, plus...

Dennis Hornsby, licensed insurance agent, joins me to discuss the critical role of disability insurance in protecting your income and lifestyle. He shares his expertise on the advantages of purchasing coverage early to secure lower rates and the ethics of choosing the right broker. If you're a high-income professional or have student debt, you won't want to miss this. In today’s episode: 05:19 Employer-provided group policy vs. one you purchase yourself 12:46 Residency and fellowship...

I had an inspiring conversation with Dr. Mike Walker, a veterinary practice owner. Listen is as he shares his journey from graduating vet school in 2017 with significant student loan debt to owning Apollo Vet, a clinic worth between $4 to $5 million today.  In today’s episode: 04:46 Preparing financially before starting a business 16:51 Fear of the unknown, business opportunities and financial projections 30:43 The role of mentors in starting a business 40:24 You don't need to be an expert...

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...

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...

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...

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...

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 ...

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...

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®,...

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...

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...

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...

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...

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...

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...

It's the last call for the IDR waiver (aka IDR account adjustment). If you’ve listened to this podcast, you probably know what it is — but if you're not sure how the IDR waiver could benefit you, or if you have questions about PSLF, loan consolidation, or income recertification, this episode is for you.   I’ll take you back to the beginning of the IDR waiver and walk you through it to make sure you get the most benefit before it expires on April 30th. You’ll also hear answers to listener...