Student Loan Planner
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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Roth IRA Disasters to Avoid
04/16/2024
Roth IRA Disasters to Avoid
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 , or Leave an honest review on Subscribe to the Feeling helpless when it comes to your student loans? Try our Check out our we negotiated Book your Get profession-specific Do you have a question about student loans? or email us at and we might feature it in an upcoming show!
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Last Call for the IDR Waiver
04/09/2024
Last Call for the IDR Waiver
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 questions about loan forgiveness and repayment plans and get valuable insights into the upcoming changes in consolidation rules. In today’s episode, you'll find out: The final (final) deadline for the IDR waiver and the need for timely action The hidden strategy behind introducing the PSLF waiver before the IDR waiver Potential benefits of consolidating student loans and crucial considerations to keep in mind How the IDR waiver is a game-changer for borrowers with complex loan histories or multiple loans New options if you’re thinking about loan consolidation A key tip for submitting employer certification forms for PSLF credit Why brining up the awkward topic of student loans with your friends could benefit you and your peers Common misconceptions about PSLF and employer certification, including a major myth busted How to find the recertification date for IDR and how to recertify income for income-driven repayment plans Strategies for handling recertification and loan consolidation to align with changes in income The role of HR and the cautious approach taken when attesting to employment details for PSLF How to turn in a new IDR application after loan consolidation Links mentioned: Like the show? There are several ways you can help! Follow on , or Leave an honest review on Subscribe to the Feeling helpless when it comes to your student loans? Try our Check out our we negotiated Book your Get profession-specific Do you have a question about student loans? or email us at and we might feature it in an upcoming show!
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The Dept of Education Shifts PSLF Processing from MOHELA: The Real Reason and Borrower Impact
04/03/2024
The Dept of Education Shifts PSLF Processing from MOHELA: The Real Reason and Borrower Impact
The Public Service Loan Forgiveness (PSLF) program is undergoing major changes. The government is taking over processing from MOHELA, and a temporary pause is expected in May and June. How will this affect you? First, don’t panic — PSLF isn’t shutting down. The government is simply pausing processing while they transition everything over. But you’ll want to take a few proactive steps to safeguard your payment count before the transition happens. Listen in as I dissect the real reasons behind these changes. Could it be a strategic move in the future student loan management? Find out how it can impact your forgiveness: Why the Department of Education is hitting the pause button on PSLF When to expect service disruption for your student loan management How the transition from MOHELA to the government impact PSLF processing The motivation behind the government’s decision to take PSLF from MOHELA How the temporary shutdown will affect you, especially if you’re expecting forgiveness in May or June Implications of the Department of Education’s plan to centralize PSLF tracking What you need to do now to safeguard your payment count Like the show? There are several ways you can help! Follow on , or Leave an honest review on Subscribe to the Feeling helpless when it comes to your student loans? Try our Check out our we negotiated Book your Get profession-specific Do you have a question about student loans? or email us at and we might feature it in an upcoming show!
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Why Most Borrowers Will Get Forgiveness Now (Even Those With Small Balances)
04/02/2024
Why Most Borrowers Will Get Forgiveness Now (Even Those With Small Balances)
It sounds shocking, but it’s a reality we can’t ignore — and this isn’t just about folks burdened with 6-figure student loan debts. Now, even if you have a smaller loan balance, you have a path to student loan forgiveness. It’s the new SAVE repayment plan that’s making it possible. Listen in as we explore key factors shifting borrowers away from repayment toward forgiveness, from the increase in discretionary income allowances to the potential for accelerated forgiveness. You’ll discover the key moves you should consider and why freeing yourself from student loan debt could happen sooner than you think. In today’s episode, you'll find out: Unexpected ways the new SAVE plan is transforming student loan repayment advice for borrowers The impact of ultra-low interest rates in the early 2000s on student loan repayment Why chasing student loan forgiveness is outpacing traditional repayment methods How “micro” levels of debt could qualify for quick student loan relief The surprising link between debt management and mental health How understanding your future stream of earnings can revolutionize your loan strategy Behind-the-scenes political maneuvers shaping the future of your student loans How to navigate the joint vs. separate tax filing dilemma for couples with student loans Creative tactics for investing in self-care while navigating loan uncertainty How to leave a voicemail for the podcast to ask questions about student loans and personal finance Like the show? There are several ways you can help! Follow on , or Leave an honest review on Subscribe to the Feeling helpless when it comes to your student loans? Try our Check out our we negotiated Book your Get profession-specific Do you have a question about student loans? or email us at and we might feature it in an upcoming show!
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MOhela MO Problems
03/26/2024
MOhela MO Problems
To put it bluntly, MOHELA has student loan borrowers jumping through hoops to get things done, and it’s been extremely frustrating. Countless delays and mistakes being made, hours of being on hold or even being hung up on by servicers… the list goes on! In this episode, hosts Sim Terwilliger, CFP®, CSLP®, Sam Silberstein, CFP®, CSLP®, and Ben Lacomis, CSLP® join forces to shine some light on everything MOHELA is doing wrong. You’ll get tips and tricks to protect yourself from their mistakes. You’re not alone in this, folks! Let’s talk about what you can do to get the forgiveness you deserve and avoid falling for MOHELA’s mischief. In today’s episode, you'll find out: Common issues that student loan borrowers are experiencing with MOHELA Red flags to look out for if you use MOHELA How to prevent your PSLF from being reversed Tips for ensuring you get the student loan forgiveness you qualify for When and why you need to recertify your employment and income verification forms Our shockingly disappointing experiences communicating with MOHELA Insight to getting the most out of your phone call with MOHELA When you should file a complaint with the Student Borrower Protection Center MOHELA delays you should be aware of How long does it take for student loans to be forgiven How to approach filing your taxes amidst student loan forgiveness issues Links mentioned: Like the show? There are several ways you can help! Follow on , or Leave an honest review on Subscribe to the Feeling helpless when it comes to your student loans? Try our Check out our we negotiated Book your Get profession-specific Do you have a question about student loans? or email us at and we might feature it in an upcoming show!
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The Tax Bomb Cliff Is Coming
03/19/2024
The Tax Bomb Cliff Is Coming
We’re standing at the edge of a major financial cliff that no one is ready for. Student loan forgiveness is happening at unprecedented rates — $138 billion and counting. Right now, borrowers are enjoying tax-free forgiven student loan debt courtesy of the American Rescue Plan. However, these benefits are set to expire at the end of 2025, leaving borrowers to face a tax cliff with unknown consequences. We’ll explore the legal skirmishes already bubbling, like the Kansas Attorney General’s case against the SAVE plan, and analyzing their impact and preparing for the potential scenarios ahead. I’ll also highlight the vital deadlines you need to know, like the expiring IDR waiver and the barrier to new entrants for the Pay As You Earn plan that’s coming up in July 2024. In today’s episode, you'll find out: How the SAVE plan, IDR waiver and PSLF waiver are helping borrowers The possibility of court challenges to President Biden’s student loan policies What’s at stake with the coming student loan tax bomb due post-2025 Potential cancelation scenarios based on political outcomes as election season heats up Deadlines you can’t miss and their impact on student loan repayment strategies How the American Rescue Plan is enabling large-scale loan forgiveness What President Biden’s plan is to address the tax bomb cliff in 2025 About hardship-based forgiveness and the push for widespread cancelation Like the show? There are several ways you can help! Follow on , or Leave an honest review on Subscribe to the Feeling helpless when it comes to your student loans? Try our Check out our we negotiated Book your Get profession-specific Do you have a question about student loans? or email us at and we might feature it in an upcoming show!
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You Have a New Job. Now What?
03/12/2024
You Have a New Job. Now What?
For those of you stepping into new roles, congratulations! This milestone comes with a lot of things to think about, from managing lifestyle inflation to understanding the impact of major purchases on your future. We’ll uncover valuable insights on income-based student loan payments, refinancing options, and how to approach big decisions like whether to rent or buy a house. I’ll help you unpack the price-to-rent ratio so you can make a well-informed decision based on financial and personal factors. We'll also discuss contract negotiations, gender disparities, non-compete agreements, and the importance of getting the most out of your benefits package. In today’s episode, you'll find out: How to use contracts for better severance or negotiation during job changes Why you shouldn’t accept being bullied during training or residency Key factors in job matching for medical professionals Benefits of income-based student loan payments and the pitfalls of early recertification Essential insights for loan refinancing and selecting the best payment plans Tips for making smart housing choices, like rent vs. buy, during life changes Negotiating techniques beyond salary to yield better benefits and work-life balance The impact of gender and non-compete agreements in specialized professions How to manage lifestyle inflation and understand consumption smoothing The role of marginal utility in making financially savvy decisions The emotional biases in finance advice from experts like Suze Orman and Dave Ramsey How to celebrate a job success or career change without sinking your finances Like the show? There are several ways you can help! Follow on , or Leave an honest review on Subscribe to the Feeling helpless when it comes to your student loans? Try our Check out our we negotiated Book your Get profession-specific Do you have a question about student loans? or email us at and we might feature it in an upcoming show!
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Till Debt Do Us Part
03/05/2024
Till Debt Do Us Part
Like the show? There are several ways you can help! Follow on , or Leave an honest review on Subscribe to the Feeling helpless when it comes to your student loans? Try our Check out our we negotiated Book your Get profession-specific Do you have a question about student loans? or email us at and we might feature it in an upcoming show!
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Emergency pod: IDR Recertification Pause Extended
03/01/2024
Emergency pod: IDR Recertification Pause Extended
Deadlines for updating your income and family size information for your IDR plan have been extended to late September 2024, at the earliest.
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Tips I’ve Learned as a Business Owner
02/27/2024
Tips I’ve Learned as a Business Owner
Are you curious about business ownership? Whether you're just flirting with the idea of starting your venture or already knee-deep in entrepreneurship, this show is packed with actionable advice to help guide your journey. We'll explore why setting boundaries is not just a buzzword but a fundamental practice for any successful business owner. You’ll also discover specific strategies to carve out a profitable niche, edge out competition, and utilize barriers to your advantage. But the key takeaway here is that student loan debt shouldn’t be a barrier to your dreams. So grab your notepad, and let's jump into the world of business ownership with a clear head and a strategic mindset. In today’s episode, you'll find out: How boundaries are a crucial part of business success Why focusing on profitability is crucial before scaling up Ways to validate your business model without offering discounts Why barriers, competition, and market availability are key to your business choice How regulatory barriers can offer both challenges and benefits The importance of identifying specific customer pain points and solving them Strategies to address low reimbursement rates or high service costs The financial impact and workload considerations when dealing with insurance companies Why holding free clinics might be a better strategy than accepting low-paying insurance The best ways to balance family life, retirement, and work fulfillment Like the show? There are several ways you can help! Follow on , or Leave an honest review on Subscribe to the Feeling helpless when it comes to your student loans? Try our Check out our we negotiated Book your Get profession-specific Do you have a question about student loans? or email us at and we might feature it in an upcoming show!
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Tax FAQs from Student Loan Borrowers
02/20/2024
Tax FAQs from Student Loan Borrowers
Tax season got you scratching your head? Let’s clear the fog. Join me and Rebecca Bauldauf, CPA, CCFC, from the SLP Wealth tax team, as we navigate the maze of taxes, student loan planning, family dynamics, and long-term financial strategies. Whether you're flying solo or juggling the finances of a growing family, you’ll discover actionable tips that could lead to substantial savings, from the ins and outs of tax service fees to strategies for retirement savings and dealing with the IRS. And if you're in search of a long-term financial ally, learn how to find the right tax help that aligns with your goals. Get ready to reshape your financial approach and transform your tax strategy! In today’s episode, you'll find out: The hidden impact of commoditized tax prep services When higher CPA fees become worthwhile for complex tax situations Advantages of hiring different firms for their practice and personal tax returns Two crucial financial moves for low-income earners How marriage changes your tax game, tax filing status and student loan payments Smart retirement savings strategies that factor in PSLF and employer matches Key steps for residents to maximize their tax bracket and student loan situation The secret weapon of the 1040-X form in tax filings How to navigate 'married filing separately' in community property states If you should link your student loan account to the IRS or manually certify income How tactical contributions to retirement accounts can make a huge difference in your student loan repayment journey Why coordinating tax and financial planning teams improves your financial position Pros and cons of filing taxes separately for childless couples with student loans The importance of long-term tax planning regardless of income level Like the show? There are several ways you can help! Follow on , or Leave an honest review on Subscribe to the Feeling helpless when it comes to your student loans? Try our Check out our we negotiated Book your Get profession-specific Do you have a question about student loans? or email us at and we might feature it in an upcoming show!
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Which Tik Tok Finance Tips Get You Arrested?
02/13/2024
Which Tik Tok Finance Tips Get You Arrested?
Financial advice has never been more accessible — or more questionable. Are you ready to tackle the truth behind those viral finance hacks you’ve seen online? The barrage of personal finance advice on platforms like TikTok is a siren song, promising financial security and a life free from money worries. But those tips can affect more than just your wallet. Some might get you a slap on the wrist, while others could land you in legal hot water. Join me as I sift through the noise of self-proclaimed “experts” peddling easy wealth, from misleading tax credit pitches and hazy tax advice to exaggerated real estate loopholes and sketchy investment opportunities. Discover how to distinguish between genuine advice and deceptive, flashy pitches to build a solid financial foundation that can withstand the trends and temptations of our times. In today’s episode, you'll find out: How pandemic relief is stretching the IRS too thin, leading to tax fraud and scams The exact requirements and documentation for the short-term rental tax loophole Why you can’t focus solely on “maximizing wealth” The ins and outs of student loan loopholes and how to avoid pitfalls How visual effects can skew your perception of financial advice found on social media Why “vanilla” insurance products win out over complex insurance-investment hybrids How actuaries calculate insurance product profitability and why it favors the company Why the allure of low interest rates and novelty causes alternative investments to surge Why decisions based on student loan forgiveness programs can be risky The real estate loophole to use if one spouse works full time and the other takes on real estate investing The truth behind the marketing of whole life and universal life insurance Why tax-efficient index funds may be a better investment alternative How the concept of “infinite banking” could be misleading When borrowing against insurance products might not be the best option Why the smartest financial move is to verify before you buy Like the show? There are several ways you can help! Follow on , or Leave an honest review on Subscribe to the Feeling helpless when it comes to your student loans? Try our Check out our we negotiated Book your Get profession-specific Do you have a question about student loans? or email us at and we might feature it in an upcoming show!
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Financially Undressing: A Talk About Your Debt
02/06/2024
Financially Undressing: A Talk About Your Debt
Are you ready to strip away the layers of your financial life? We’re unbuttoning the secrets of debt management and financial planning. We cover everything from the impact of inflated car prices on credit and the potential risks and benefits of home equity lines of credit (HELOCs) to debt management strategies and the potential tax implications of forgiven debt. Senior Student Loan Advisors Sim Terwilliger, CFP®, CSLP®, and Meagan McGuire, ChFC®, CSLP®, share expert insights on debt consolidation, budgeting for recurring expenses, and the significance of prioritizing mental health while working towards financial goals. Get ready to shed some light on your financial wardrobe with valuable tips to help you become debt-free and financially empowered. In today’s episode, you'll find out: The difference between the funnel method and the strainer approach for financial goals How the pandemic’s inflated car prices are impacting car loans and credit What high loan-to-value ratios mean for your credit score The role of credit reports for landlords, jobs, and future debt costs How car payments can make or break your house hunting journey A warning to parents about using HELOCs to pay for children’s college costs When to use HELOC vs. double consolidation for student loan debt What changes borrowers can expect in student loan forgiveness programs Why math-based strategies like debt avalanche or debt snowball aren’t a slam-dunk The sneaky language in cosigner agreements and why refinancing is a smart solution What types of debt to prioritize before paying off private student loans How to get out of default on federal student loans The secret to leveraging debt to earn money rather than paying it off Options when dealing with IRS debt and how to balance payment options Like the show? There are several ways you can help! Follow on , or Leave an honest review on Subscribe to the Feeling helpless when it comes to your student loans? Try our Check out our we negotiated Book your Do you have a question about student loans? or email us at and we might feature it in an upcoming show!
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Using Real Estate to Lower Student Loan Payments
01/30/2024
Using Real Estate to Lower Student Loan Payments
The world of real estate can feel overwhelming. The rewards can be incredible, but it’s a journey filled with highs and lows. Joining me is Student Loan Advisor Rebecca Baldauf, CPA, CCFC, and Senior Student Loan Advisor and partner in SLP Wealth Dan Rooker, CFP®, CSLP®. They’re sharing their experiences with multifamily properties, I open up about my challenges with home renovations, and together we’re getting real about real estate investment and why you shouldn’t let student loans get in your way. You’ll learn about savvy tax planning, investment strategies that can make a big difference, and what it takes to get Real Estate Professional Status. Whether you're already dipping your toes in the real estate waters or just real estate-curious, this episode is a fountain of insights, personal stories, and expert advice. In today’s episode, you'll find out: Key tax-saving strategies and depreciation tricks in real estate How to calculate property depreciation from the purchase price Why real estate taxes are different from other investments The impact of real estate investment on financial health and lifestyle How real estate influences income-driven repayment plans Why refinancing real estate in changing market conditions can be a smart move What Real Estate Professional Status is and how to get it When to use 1031 exchange to defer capital gains tax in real estate The good and the bad of investing in owner-occupied properties How passive real estate investments like REITs factor into taxes Why tax planning is crucial when renting out personal residences What bonus depreciation is and how it can help you build wealth Links mentioned: Like the show? There are several ways you can help! Follow on , or Leave an honest review on Subscribe to the Feeling helpless when it comes to your student loans? Try our Check out our we negotiated Book your Do you have a question about student loans? or email us at and we might feature it in an upcoming show!
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Married Filing Separately Traps to Avoid
01/23/2024
Married Filing Separately Traps to Avoid
Just in time for tax season, I’m unraveling the complex tax strategy of married filing separately. You might have heard that it’s a game-changer, especially for folks with student loans. But it’s not at all straightforward. You’ll learn the dos and don’ts, and I’ll uncover tips to help you avoid costly mistakes and even find some savings along the way. We’ll talk about everything from how your and your spouse’s income can play a huge role to unexpected losses like tax credits and deductions. Also, if you're juggling things like adoption expenses, dependent care credits, or figuring out the best way to handle your retirement contributions, I've got you covered. Student loan borrowers on an IDR plan, don’t miss the best tip: find out how delaying your tax filing just might be in your best interest. In today’s episode, you'll find out: Why married filing separately might lead to higher taxes, especially with uneven incomes How filing separately affects ACA subsidies and Medicare premiums The effect on tax credits and deductions, including those for dependent care and education Challenges with Roth IRA contributions when filing separately, including backdoor strategies Why filing separately is different in common law versus community property states How filing separately can interfere with small business deductions and credits Why delaying tax filing can save you money on income-driven student loan repayments Tax consequences for borrowers in loan forgiveness programs when filing separately The cost and benefits of professional tax services combined with financial planning How inaccurate income reporting can leave you vulnerable to audits and penalties Links mentioned: Get profession-specific Like the show? There are several ways you can help! Follow on , or Leave an honest review on Subscribe to the Feeling helpless when it comes to your student loans? Try our Check out our we negotiated Book your Do you have a question about student loans? or email us at and we might feature it in an upcoming show!
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Timeline and Predictions for Student Loans in 2024
01/16/2024
Timeline and Predictions for Student Loans in 2024
Get a sneak peek into what lies ahead in the world of student loans in 2024 as I discuss upcoming changes, potential scenarios and strategies you need to know. You’ll learn about administrative forbearance, income-driven recertification, the influence of the 2024 presidential election, and policy changes that could significantly impact you as a student loan borrower. There are many ways to save money right now on payments. So, if you want to stay ahead of the game, buckle up and get ready for an episode packed with valuable student loan insights. In today’s episode, you'll find out: About the widespread impact of the current administrative forbearance on over 3.5 million people How the administrative forbearance is causing a political stir between Democrats and Republicans The challenges arising from policies announced through press releases instead of legislation How the 2024 presidential election might reshape student loan policies Whether the administrative forbearance is likely to conclude in early 2024 The implications of income-driven recertification before March 2024 How to get a refund for payments made during the forbearance period Strategies for lowering payments by self-certifying income until October 2024 What the expiration of the IDR waiver means for borrowers How the new SAVE plan will alter payment plan rules The ripple effect of these changes on employers and personal finance strategies The potential for new cancellation rules and their impact on borrowers Consequences for borrowers with loans from 2007 to 2014 due to phased-out payment plans Proactive strategies for saving money as a student loan borrower Like the show? There are several ways you can help! Follow on , or Leave an honest review on Subscribe to the Feeling helpless when it comes to your student loans? Try our Check out our we negotiated Book your Do you have a question about student loans? or email us at and we might feature it in an upcoming show!
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10 Ways to Save $1,000 in 2024
01/09/2024
10 Ways to Save $1,000 in 2024
Want to build up your savings or cut costs in 2024? From filing taxes and saving on insurance to buying a car and saving for travel, I’m bringing you 10 ways you can save at least $1,000 this year. And some of these can potentially save you $10,000 or more. The best part? These are strategies you can learn and do on your own. Of course, you can enlist the help of a financial expert if you want more support on your journey. Just know that you have the ability to stash away a good chunk of money this year… and who knows, maybe you’ll finally be able to take that vacation you’ve been dying to go on! Plus, you’ll learn how to get a limited-time discount on our investing course, Six-Figure Debt to Six-Figure Net Worth. In today’s episode, you'll find out: How to lower your tax bill with tax-loss harvesting How car buying services (like Costco or Sam’s Club) can save you money on a new car The best way to save on flights, hotels, car rentals, and other travel necessities When to put off income recertification for income-driven repayment plans Why the stock market’s 26% gain in 2023 could be bad news If you should increase your policy deductibles Why “shopping around” for insurance policies is more than a marketing gimmick The effect of the difference in tax rates for saving vs. investing Why you should open a retirement account if you’re self-employed When to opt for a brokerage account instead How to file taxes the smart way Why you’re uniquely positioned to weather a potential stock market downturn Links mentioned: More ways to save money and cut costs with our Membership clubs like and Travel discounts at and Like the show? There are several ways you can help! Follow on , or Leave an honest review on Subscribe to the Feeling helpless when it comes to your student loans? Try our Check out our we negotiated Book your Do you have a question about student loans? or email us at and we might feature it in an upcoming show!
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Your Top 10 Financial Dreams for 2024
01/02/2024
Your Top 10 Financial Dreams for 2024
We recently conducted a survey where thousands of our listeners generously shared their financial dreams for 2024. Listen in as I explore the top 10 financial goals straight from our audience. We’ll tackle debt management challenges, explore various paths to financial independence, early retirement, and personal fulfillment. You’ll get practical, actionable tips to fast-track your financial success. Whether your dream aligns with those shared by our audience or you’re pursuing your own unique goal, I’ll guide you on how to make it a reality. Let's dive in and discover the knowledge, tools, and path to help you achieve your financial goals in 2024 and beyond. In this episode, you'll find out: The top 10 financial goals of Student Loan Planner listeners and how to achieve them faster Misconceptions about helping family financially and the importance of providing knowledge and support A new financial perspective by re-evaluating the purpose of being debt free How redefining student loan debt as a 'tax' can shift your mindset and improve how you manage loans The impact of health ailments on individuals and families and the importance of planning for worst-case scenarios The benefits of strategically financing big-ticket items Different types of Financial Independence, Retire Early (FIRE) and how it impacts work-life balance Encouragement to pursue travel and overcome obstacles such as financial constraints and limited time How to better align financial decisions and strategies with your goals Ways to adopt a conservative approach in planning for housing and other major expenses How leveraging multiple income streams can mitigate income loss fears and improve financial security Why your approach to worst-case scenario planning can enhance financial decision-making Strategies for transitioning to an entrepreneurial role while managing risks and fears How to achieve generational wealth to gain freedom and transform your life The importance of accountability in making your financial dreams a reality Like the show? There are several ways you can help! Follow on , or Leave an honest review on Subscribe to the Feeling helpless when it comes to your student loans? Try our Check out our we negotiated Book your Do you have a question about student loans? or email us at and we might feature it in an upcoming show!
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What to Know About Student Loans for 2024
12/26/2023
What to Know About Student Loans for 2024
As 2023 comes to an end, it’s the perfect time to think about smart student loan moves you should make in 2024. First, I answer listener questions about administrative forbearance, consolidating loans, tactics for keeping student loan payments low, in-school deferment waivers and more. I’m not just helping you prepare for the upcoming shifts in student loan repayment plans, I’m also looping you in on tax advantages, smart deferment methods and common payment pitfalls that might have slipped under your radar. Get ready to step into the New Year with valuable insights and a solid game plan for your student loans. In today’s episode, you'll find out: Does administrative forbearance count for PSLF and IDR Can you get a refund for payments made while in administrative forbearance How to keep your student loan payment low (and how NOT to) How the 2024 presidential election results might impact student loan repayment When it makes sense to consolidate your loans after the IDR waiver What child-dependent tax credits you lose when you’re married but filing separately What professions could use an in-school deferment waiver or SAVE plan strategy Why you need to beware of the FSA payment tracker and forgiveness dates The importance of gathering your payment history and payment count The signup deadline for PAYE plans How to get ahead on Parent PLUS double consolidation applications What to do when administrative forbearances end
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FinCon Panel Discussion: Insider Advice on Student Loan Repayment, Default, Rehabilitation and Consolidation
12/21/2023
FinCon Panel Discussion: Insider Advice on Student Loan Repayment, Default, Rehabilitation and Consolidation
Listen in to a panel of student loan experts recorded live at FinCon 2023. FinCon is the world’s largest financial content expo. You’ll hear first-hand strategies and tips from lawyers and financial planners specializing in student loans. Together, they answer audience questions and discuss student loan topics like loan repayment and risk mitigation strategies, consolidation vs. refinancing, what happens when you default on your loans and the future of student loan forgiveness in 2024. This is a fun, yet informative bonus episode with insights from the best student loan experts to help you on your path to repayment. In today’s episode, you'll find out: A student loan lawyer’s perspective of the current/future state of student loan forgiveness If there will be a replacement student loan forgiveness plan in 2024 and who could benefit Whether the IDR waiver will be fully implemented before the 2024 election How PSLF relates to IDR account adjustments The difference between student loan consolidation vs. refinancing How the SAVE plan is different from other income-driven repayment plans (and why it’s so beneficial for borrowers) If you can still access the SAVE plan or get loan forgiveness after refinancing loans into private student loans How to mitigate tax risks related to student loan forgiveness How student loan borrowers get into default and the top 3 ways to resolve a defaulted student loan How to negotiate a settlement after you default on your student loans Things you need to know when filing for bankruptcy with unpaid student loans Links mentioned: Get out of default: from the from the U.S. Department of Education Find local student loan attorneys in your state: Connect with the panelists: Like the show? There are several ways you can help! Follow on , or Leave an honest review on Subscribe to the Feeling helpless when it comes to your student loans? Try our Check out our we negotiated Book your Do you have a question about student loans? or email us at and we might feature it in an upcoming show!
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40 Essential Power Moves to Conquer Student Loan Repayment (Pt 2)
12/19/2023
40 Essential Power Moves to Conquer Student Loan Repayment (Pt 2)
Get ready for part two of our 40 tips to supercharge your student loan repayment journey. Hosts Ben Lacomis, CSLP®, Derenda King, CFP®, CSLP®, Scotty McDonald, CSLP®, and Meredith Jones, CSLP®, AFC®, share valuable insights on student loan forgiveness, income driven repayment plans, and other critical strategies for managing student debt. From exploring federal loan forgiveness options to budgeting tips and tricks, this episode is packed with practical tips to help you optimize your approach to student loan repayment. In today’s episode, you'll find out: How income driven repayment (IDR) eases the burden for those with high balances or low income Expert tips to qualify for Public Service Loan Forgiveness (PSLF) When consolidating your student loans is a smart move or a financial misstep How a ladder approach in refinancing can unlock lower interest rates for your student loans Creative alternatives to manage student loan debt when forgiveness programs don't fit Budgeting hacks and lifestyle shifts that can turbocharge your loan repayment journey How to make sure you’re not missing out on teacher or military loan forgiveness When and how bankruptcy might be your escape route from student loan burdens The secret link between credit scores, timely payments, and better student loan terms Why pursuing loan forgiveness in rural healthcare careers can be a game-changing strategy Like the show? There are several ways you can help! Follow on , or Leave an honest review on Subscribe to the Feeling helpless when it comes to your student loans? Try our Check out our we negotiated Book your Do you have a question about student loans? or email us at and we might feature it in an upcoming show!
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40 Essential Power Moves to Conquer Student Loan Repayment (Pt 1)
12/12/2023
40 Essential Power Moves to Conquer Student Loan Repayment (Pt 1)
Whether navigating the post-graduation grace period, exploring new repayment options, or looking to supercharge your loan payoff, this episode is jam-packed with practical advice to help you take charge of your financial journey. Hosts James Mwombela, CFP®, CSLP®, Rebecca Baldauf, Jake Courtney and Sam Silberstein deliver a wealth of insights for effectively managing student loans. No matter where you are in your career, you’ll walk away with actionable tips and the latest strategies to confidently tackle your student loan debt. In today’s episode, you'll find out: The financial benefits of paying during the grace period to minimize interest accumulation How consolidating loans after graduation can be smart, especially if your past income was more 'ramen diet' than 'caviar dreams' The value of a student loan planner in creating personalized repayment strategies that align with your career ambitions and financial situation How returning to school could enhance career prospects and open doors to loan forgiveness Potential upcoming improvements in income-driven repayment plans Insights on managing student loans with strategic considerations for prioritizing private student loans The date Parent PLUS loans need to know for access to lower monthly payments How claiming student loan interest deductions affects your AGI Why avoiding forbearance is crucial when aiming for loan forgiveness The role of the debt avalanche method and current considerations for refinancing student loans How targeting high-interest student loans first can be a strategic move for repayment The ins and outs of the 12-month ramp-up period for borrowers struggling to make payments The benefits of an income-driven repayment plan as an alternative to default Like the show? There are several ways you can help! Follow on , or Leave an honest review on Subscribe to the Feeling helpless when it comes to your student loans? Try our Check out our we negotiated Book your
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Final countdown for the IDR Waiver
12/05/2023
Final countdown for the IDR Waiver
Time is running out for the IDR Account Adjustment. The so-called “IDR Waiver” is the biggest backdoor student loan forgiveness program in history, and it’s ending in less than 30 days. Learn exactly what the IDR Waiver is, the steps you need to take to take advantage of it, and how it could give you immediate forgiveness even if you didn’t know you were eligible for it. I’ll clarify some common misconceptions about the Waiver and shed some light on potential regrets for those who miss the deadline. Then, we’ll explore how student loan repayment will change after the IDR Waiver ends, what borrowers are getting wrong about the SAVE plan, and why getting expert guidance is even more critical in a post-IDR Waiver world. In today’s episode, you'll find out: The IDR waiver's historic significance in student loan forgiveness How to get credit for forbearance and repayment plans before the deadline slips away Eligibility criteria to maximize benefits of forgiveness How the IDR Waiver transforms older loans into forgiveness superheroes Forgiveness eligibility of the IDR Waiver vs. the PSLF Waiver When the forgiveness date tracker will be available from the Department of Education Potential discrepancies in forgiveness payment count accuracy from the Department of Education How long you’ll have to wait for a payment count adjustment after the IDR Waiver What to do if you’re on the SAVE and PAYE income-driven repayment plan Misconceptions about the SAVE plan’s interest payments The best strategies for post-IDR Waiver student loan repayment Common borrower challenges, including filing taxes separately, navigating PAYE repayment plans and consolidation issues for Parent PLUS loans Links mentioned: Like the show? There are several ways you can help! Follow on , or Leave an honest review on Subscribe to the Feeling helpless when it comes to your student loans? Try our Check out our we negotiated Book your Do you have a question about student loans? or email us at and we might feature it in an upcoming show!
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Expert Strategies for College Funding, Even If Time Isn’t On Your Side
11/28/2023
Expert Strategies for College Funding, Even If Time Isn’t On Your Side
College funding isn’t everyone’s favorite topic. However, the reality of higher education costs requires a proactive approach. If you’ve been diligently saving for years or are realizing the urgency to start now, valuable insight awaits you in this episode. Join our host, Meagan McGuire, CSLP®, as she sits down with Student Loan Advisors Derenda King, CFP®, CSLP®, and Rebecca Baldauf, CPA, CCFC. Together, they share proven strategies and insider tips to bridge the gap between savings and college expenses. Listen in to get the expert guidance you need to navigate the choppy waters of college funding. In today’s episode, you'll find out: The rising education costs and its ripple effects on families and finances The ins and outs of student loan consolidation, plus little-known forgiveness strategies How a 529 savings plan offers flexible college funding without sacrificing other financial goals Tax benefits and implications of using retirement accounts to save for college expenses How the Student Aid Index factors into how much you’ll pay for college Whether it’s legal and ethical to adjust assets to influence the financial aid equation Potential pitfalls and considerations before taking out Parent PLUS loans How to make the most of the time you have left to save for college Links mentioned: Like the show? There are several ways you can help! Follow on , or Leave an honest review on Subscribe to the Feeling helpless when it comes to your student loans? Try our Check out our we negotiated Book your Do you have a question about student loans? or email us at and we might feature it in an upcoming show!
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Smart Money Moves for Parents: Understanding FMLA, Retirement, and More
11/21/2023
Smart Money Moves for Parents: Understanding FMLA, Retirement, and More
Navigating the maze of family finances isn’t for the faint of heart, especially when student loans are part of your story. Get ready to reshape your financial future with insights tailored specifically for parents. Our expert Student Loan Advisors Lauryn Williams, CFP®, CSLP®, and Sim Terwilliger, CFP®, CSLP®, bring their expertise directly to you, offering practical, actionable advice that goes beyond the basics. This episode is packed with essential knowledge of FMLA, disability benefits, and savvy tax strategies, all designed to elevate your money management skills as a parent. In today’s episode, you'll find out: How to navigate the complexities of parental leave deferment for Stafford loans pre-July 1993 Empowering tips for expectant and new moms about support and creating cherished moments The essentials of FMLA and short term disability for new parents Innovative strategies for using 529 plans and managing Parent PLUS loans for your child's education Tips for managing family size changes and parental leave The best place to stash your emergency fund How to optimize your parental leave by staggering benefits How to decode tax implications and access credits for new parents The connection between maternity leave, disability, and effective student loan Links mentioned: Like the show? There are several ways you can help! Follow on , or Leave an honest review on Subscribe to the Feeling helpless when it comes to your student loans? Try our Check out our we negotiated Book your Do you have a question about student loans? or email us at and we might feature it in an upcoming show!
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Tax Loopholes That Could Save You Five Figures
11/14/2023
Tax Loopholes That Could Save You Five Figures
This is a groundbreaking episode where I’m unveiling something that will revolutionize your financial world. Joining me is Rebecca Baldauf, CPA, CCFC, and together, we’re rolling out our new tax planning service. Tailored to anyone who would love to streamline financial, student loan, and tax planning strategies, SLP Tax Planning brings together a seamless in-house team of experts marching forward together “in lockstep.” You’ll discover a few tax strategies that have specific impacts on borrowers managing student loan repayment and tips for business owners to consider. We’ll also cover why we’re rolling out a tax component (hint: wealth planning and tax optimization go hand-in-hand) and how our suite of services is uniquely designed with you in mind. So, skip the headache of juggling the many moving parts of a cohesive financial plan and don’t miss the debut of this exciting new tax planning service. In today’s episode, you'll find out: Why mastering student loan management is crucial for effective tax planning Creative ways to optimize charitable deductions for better tax outcomes Strategies for maximizing mortgage interest deductions in today's market How to smartly use capital losses to lower your adjusted gross income The benefits of renting your home to your business and how to do it right The importance of tracking carry-forward losses to maximize tax savings How business owners can use Section 179 for significant tax deductions About navigating the nuances of deducting business meals and entertainment Structuring your business for the best tax advantages Leveraging tax filing extensions to benefit your income-driven repayment plan How to decide the best filing status in light of your student loan situation The benefits of income splitting in community property states Key steps to engage with SLP’s tax planning service A special offer for podcast listeners to join SLP Wealth with a bonus Links mentioned: Like the show? There are several ways you can help! Follow on , or Leave an honest review on Subscribe to the Feeling helpless when it comes to your student loans? Try our Check out our we negotiated Book your Do you have a question about student loans? or email us at and we might feature it in an upcoming show!
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The Coming Married Filing Separate Bonanza
11/07/2023
The Coming Married Filing Separate Bonanza
Get ready for a tax revolution that could save you a fortune. Today, I'm diving into how smart tax planning, when combined with savvy student loan repayment strategies, can shield you from giving Uncle Sam more than his due. Discover why having a trusted advisor who understands the nuances of your profession, earnings, and debt is vital, the influence of the new SAVE plan on married couples' filing status, and the ramifications of the IRS and Department of Education's data sharing for your wallet. With complex rules and your financial future in the balance, we're blending tax advice with wealth management to bolster your loan repayment plans — and for a short period, we're dropping the sign-up fee. In today’s episode, you'll find out: How our survey on the SAVE plan and data sharing reveals crucial tax insights many don't know Why the new SAVE plan is swaying more couples to file taxes separately Must-know tax planning tips for student loan holders to sidestep future financial pitfalls Whether filing a tax extension could be a smart income move Best practices for claiming dependents in complex tax situations Tax structuring secrets for married borrowers in community property states What the latest IRS rules and your debt situation mean for loan forgiveness options The urgent call for coordinated tax planning in light of automated IRS-Education Department data sharing The often-overlooked long-term expense of DIY tax software like TurboTax The financial logic behind our bundled financial and tax planning services launching now A sneak peek at next-level tax strategies we'll explore in upcoming episodes Links mentioned: Find out more about with SLP Wealth Like the show? There are several ways you can help! Follow on , or Leave an honest review on Subscribe to the Feeling helpless when it comes to your student loans? Try our Check out our we negotiated Book your Do you have a question about student loans? or email us at and we might feature it in an upcoming show!
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Why Are We Doing Financial Planning Now?
10/31/2023
Why Are We Doing Financial Planning Now?
The world of student loans is not just about debt. It's an intricate dance of financial decisions, potential pitfalls, and unexpected opportunities. But financial decisions for a student loan borrower are anything but simple. A lot is lurking in the shadows, and today, I’m joined by Dan Rooker, CFP®, CSLP®, to shine a light on it. We’re sharing why we’re doing financial planning and how we redesigned what clients should pay to save you time, money, and stress in your financial lives. As an added perk, today’s listeners get an exclusive offer on a reduced fee. In today’s episode, you'll find out: Why a financial plan is essential for student loan borrowers and how it can lead to significant savings Key investment techniques involving taxes and tax loss harvesting The shortcomings of automated financial advisors Why financial advice must take a big picture approach of your situation and goals Why we made it our mission to make services accessible for all income levels Exciting new service offerings we plan to roll out soon How our fees compare with other financial advisers in the industry The breadth of professional groups we cater to and our areas of expertise Real-world examples of potential financial missteps
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Student Loan Forgiveness, Refunds, and Fresh Starts for Borrowers
10/24/2023
Student Loan Forgiveness, Refunds, and Fresh Starts for Borrowers
The weight of student loans can be a significant challenge. Many borrowers have felt powerless, fearing that their student debt would control their life decisions for ten or twenty years or more. However, it doesn’t have to dictate your financial journey. Senior Student Loan Advisor Lauryn Williams, CFP®, CSLP®, is joined by Student Loan Advisors Jake Courtney, CFP®, CSLP®, and Marcel Miu, CFA, CFP®, to help you find a balance between student loans and enjoying life. In today’s episode, you'll find out: How PSLF’s reputation steered borrowers away from forgiveness options Why borrowers with high student loan balances gave up on repayment How the new SAVE plan could redefine your approach to loan repayment Unexpected pitfalls of refinancing federal student loans during the pandemic The unique student loan struggles millennials are grappling with today What the Fresh Start program is and how it can be a game-changer for borrowers Why current conditions may deter borrowers from refinancing student loans Ways to squeeze joy out of life despite student loan debt and financial challenges Link mentioned: Like the show? There are several ways you can help! Follow on , or Leave an honest review on Subscribe to the Feeling helpless when it comes to your student loans? Try our Check out our we negotiated Book your Do you have a question about student loans? or email us at and we might feature it in an upcoming show!
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A New Subsidy Strategy Has Arrived
10/17/2023
A New Subsidy Strategy Has Arrived
New repayment plans are opening the door to new loopholes for borrowers, including a new subsidy strategy. I’m sitting down with Senior Student Loan Advisor Meagan McGuire, CSLP®, to share an exciting new tactic with the SAVE plan that can help you subsidize all of your grad school loans. Learn about weighted average of balances and its impact on loan repayment options, including Public Service Loan Forgiveness. You’ll also hear eye-opening insights into the Department of Education’s calculation errors that have affected hundreds of thousands of borrowers. In today’s episode, you'll find out: The new subsidy strategy that’s a loophole for grad school borrowers Why taxpayers file separately to lower student loan payments How to recoup lost tax credits by amending past tax returns Whether potential caps on Parent PLUS loans are fair The impact of calculation errors and issues with administrative forbearance How weighted average works and how it affects loan repayment About the mental toll and anxiety of borrowing student loans Predictions for the future of student loan policies and forgiveness programs Like the show? There are several ways you can help! Follow on , or Leave an honest review on Subscribe to the Feeling helpless when it comes to your student loans? Try our Check out our we negotiated Book your Do you have a question about student loans? or email us at and we might feature it in an upcoming show!
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