When to prioritize payoff versus low payments

The whiplash student loan borrowers have experienced over the past few years has been staggering. Payments paused, forgiveness promised, forgiveness blocked, repayment systems rewritten, and now wage garnishment is back on the table for some folks. It’s no wonder navigating student loans has become a specialized skill. Few people know that landscape better than attorney Stanley Tate. He’s helped hundreds of borrowers get out of default, qualify for forgiveness programs, secure affordable payments, negotiate settlements, stop garnishments, and even discharge student loans in bankruptcy. Through his blog, newsletter, and videos, Tate has offered guidance to countless others. Some of the topics covered today:

• How much time borrowers in default have had to address the elephant in the room
• Why income-driven repayment plans are crucial for many borrowers
• Why private student loans are expected to see a resurgence
• Borrowers often misunderstand their repayment options and forgiveness paths
• How emotional decisions often overshadow financial reasoning in education funding
• The biggest student loan mistake that his clients make
• Living life fully is essential, even amidst student loan burdens
• And much more!

Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances:

• Stanley Tate: Newsletter, tools, and other resources up on his site and he’s got a great YouTube channel as well.
• Credit card perks: Check out our favorite credit cards that we use to maximize rewards and optimize our spending.
• Money Gears: knowing what to do with your money is crucial to your personal finance journey.
• Newsletter: Sign up for the weekly HTM newsletter. It’s fun, free, & practical.
• Other money nerds: Find a thriving community of fellow money nerds by joining the HTM Facebook group!

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