303 episodes
Student Loan Planner Travis Hornsby
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- Business
Travis helps you navigate the insane world of student loans, especially if you owe $20,000 to $1 million. If you've ever spent too much time on the phone with your loan servicer, this is the show for you. Every week we share tips on loan forgiveness, investing, crushing debt, and how to get to financial freedom when you owe more than most people's mortgage.
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Last Call for PAYE, ICR and the IDR Waiver
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 Contingent Repayment (ICR) is going away for borrowers who don’t have Parent PLUS loans
20:24 IDR waiver benefits before they expire and why you might need to consolidate your loans before June 30, 2024
30:19 Undergrad borrowers on Saving on a Valuable Education (SAVE) could see their payments drop July 1, 2024
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!
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Rising Student Loan Interest Rates
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!
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IDR Sensitive Investing
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! -
PAYE is Ending: What You Need to Know Now
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! -
Big Nelnet Problems and Summer Updates
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!
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A New Graduate’s Guide to Student Loan Strategies
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!