Student Loan Planner

The loan servicing structure needs to be fixed, but how and why? Join me as I welcome Bobby Matson, CEO and Founder of Payitoff, to talk about why the state of the student loan serving industry is broken and how we might be able to mend it. Without getting overly cynical, we shed light on the incentive structure of student loan servicers, the problems that can arise when student loans are cancelled, and the changes and opportunities in loan servicing you can expect in the next few years. In today's episode, you'll find out: Servicers get paid $25-30 per borrower. What kind of incentive structure does that create? What does Payitoff do and how does it help institutional customers manage and pay off debt? Why did Navient exit the business of loan serving? Why the politics of student loans are brutally cynical right now. Is there a solution? The frustrating problem with cancelling student loans. How student loans systems are increasing disparities in outcomes and increasing defaults, even for communities that need the programs. What you can expect in the next few years: NextGen servicing contract? Will I need to visit my servicer's website in the future? Will I experience service interruptions? Why the loan servicing structure needs to be fixed. Opportunities in educating senators on how federal loans work. Should I reach out to Payitoff for help with debt repayment?

Do you have kids or are you thinking of having kids? Want to know how you can help your children avoid the student loan mess you've had to deal with? Join me and Mary Morris, CEO of Virginia529, as we talk about the benefits of a 529 plan and how to set up a tax advantage education savings plan for your children, even if they don't exist yet. In today's episode, you'll find out: What is a 529 plan and how does it work? What can I use a 529 plan for? How to choose a 529 plan: Cost, investment options, tax advantages, tax deductions, and more. Can I use a 529 plan from a different state? How to use a 529 plan to start a college savings fund for a child who isn't born yet. Can I change the name and the beneficiaries on my 529 plan? How can my friends and family contribute to my 529 account? Tips for reducing and paying off large student loan debts (529 matches can be a game changer!) Why tax season and holidays are great times to start growing a 529 account. Limitations and restrictions of a 529 plan. Is a prepaid 529 plan worth it? How much monthly savings is realistic for saving for college? Stay tuned to SLP to hear from more amazing guests! Like the show? There are several ways you can help! Follow on Apple Podcasts, Spotify or Google Podcasts Leave an honest review on Apple Podcasts Follow on Facebook, Twitter, or LinkedIn 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

Lauryn Williams, CFP®, CSLP®, welcomes Student Loan Planner's newest consultants, Sim Terwilliger, CFP®, CSLP®, and James Mwombela, CFP®. Strap in as we get to know Sim and James. The two share their authentic journeys, what motivated them to enter the financial industry, their serendipitous paths to joining SLP, and what they're looking forward to in this new stage of their professional lives. In today's episode, you'll find out: How James came to join the team at SLP Sim's background and the path that led her to SLP What ignited James to join the personal finance community The book that James loves for financial literacy Why financial literacy is woven into every aspect of managing your student loan How Sim's childhood fueled her journey into financial planning Sim's favorite tool to manage her finances How our new consultants were able to overcome recent setbacks in their lives What Sim and James are most looking forward to as SLP's newest consultants Like the show? There are several ways you can help! Follow on Apple Podcasts, Spotify or Google Podcasts Leave an honest review on Apple Podcasts Follow on Facebook, Twitter, or LinkedIn 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

Senior consultant Rob Bertman, CFA, CFP® joins me to discuss recent developments related to interest rate policy at the heels of Russia's invasion of Ukraine. We also cover the impact of subsequent decisions to be made by the Biden administration in the coming months on interest rate policy. In today's episode, you'll find out: What to expect from the housing market this summer as interest rates continue to rise The impact of 1% difference in a mortgage interest rate Why a typical middle-income family might itemize their mortgage interest If we think interest rates will keep rising or remain steady Why interest rates have gone up even before the Russian invasion How to navigate the refinancing market Whether you should refinance now or wait Why most people have suffered more than benefited from the student loan freeze Where we go from here since Russia has invaded Ukraine Like the show? There are several ways you can help! Follow on Apple Podcasts, Spotify or Google Podcasts Leave an honest review on Apple Podcasts Follow on Facebook, Twitter, or LinkedIn 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

Do you ever wonder why the prices of graduate programs have gone up so drastically over the last few decades? Do you want to know what the TRUE cost of your graduate degree is? Join me as I talk about why the cost of graduate school hasn't gone up as much as you think it has. In today's episode, you'll find out: How competition impacts the cost of tuition Reasons why the cost of graduate school has increased since the 1970s, especially for physical therapy, dentistry, law, vet med and pharmacology How today's employment prospects drives up the cost of college The role of producer surplus and consumer surplus in the context of higher education Why there's no cap on borrower for federal grad loans The difference in borrowing for undergrad and grad school The importance of looking at the present value of your loan payments and how to determine that present value Can medical school graduates and medical specialists get PSLF benefits Like the show? There are several ways you can help! Follow on Apple Podcasts, Spotify or Google Podcasts Leave an honest review on Apple Podcasts Follow on Facebook, Twitter, or LinkedIn 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

Meagan Landress, CSLP®, and Dan Rooker, CFP®, CSLP®, sit down to discuss common student loan scams. They also share why the Income-Contingent Repayment (ICR) plan might just be a great option to consider for borrowers looking to take advantage of the limited PSLF Waiver opportunity. In today's episode, you'll find out: Why you should check the StudentAid.gov site frequently About some of the most common student loan scams Real-life examples of scams our listeners have seen Why scams are likely to increase over the coming months What to look for to avoid being taken advantage of Who should consider the Income-Contingent Repayment plan How the ICR plan may push you much closer to forgiveness, if not immediately get you loan forgiveness Why your PSLF payment count is probably wrong The latest must-knows regarding the limited PSLF waiver

With tax season upon us, I'm sitting down with consultant Lauryn Williams CFP®, CSLP®, to discuss a number of common concerns by both employees and business owners. We cover everything from saving money on taxes in general to what to consider when seeking IBR recertification, all the way to taking advantage of pre-tax accounts. In today's episode, you'll find out: How Lauryn Williams became an Olympian How to recertify for income-based repayment How to save money on taxes as an employee What to know about contributing to pre-tax accounts such as a 401(k) Why borrowers shouldn't worry about unemployment and retirement How to take advantage of a backdoor Roth IRA How to save money on taxes as a business owner What to know about the SEP IRA and the Solo 401(k) if you are self-employed Why it literally pays to hire a tax professional Like the show? There are several ways you can help! Follow on Apple Podcasts, Spotify or Google Podcasts Leave an honest review on Apple Podcasts Follow on Facebook, Twitter, or LinkedIn 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

Most people have a love-hate relationship with student loans. I'm diving into five reasons why student loans are absolutely worth it. And yes, it's true: There are unique situations in which they may not be worth the plunge. But I'll make the case that, for the majority of folks, student loans may just turn out to be one of the best investments they'll ever make. In today's episode, you'll find out: Whether you qualify for PSLF if you work for a 501a What I think about crypto How Roth compares to 401(k) How to know if student loan debt it worth it Why borrowers shouldn't worry about unemployment and retirement Why negotiating with your employer can open up new opportunities for you Why every borrower should consider starting a business based on their unique skillset How access to better professionals can help you save on taxes How student loans can help you get higher levels of job satisfaction Like the show? There are several ways you can help! Follow on Apple Podcasts, Spotify or Google Podcasts Leave an honest review on Apple Podcasts Follow on Facebook, Twitter, or LinkedIn 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

Lauryn Williams, CFP®, CSLP®, sits down with fellow consultant Meagan Landress, CSLP®, to talk in detail about student loan recertification and PSLF waivers. If you're worried about self-reporting or recertifying your income and how this whole process works when you're on an income-driven plan, this is the episode for you! In today's episode, you'll find out: How to self-report if you're on an income-driven repayment plan Mishaps to self-reporting and how you can avoid them The earliest you'll need to recertify your income on an income driven plan The best way to prepare for the resumption of payments in May 2022 About the latest developments regarding the PSLF waiver What to know about overlapping payments Why borrowers shouldn't worry about the letter they receive from FedLoan Servicing as they go through the consolidation process Like the show? There are several ways you can help! Follow on Apple Podcasts, Spotify or Google Podcasts Leave an honest review on Apple Podcasts Follow on Facebook, Twitter, or LinkedIn 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

The major news this week is Navient's $1.85 billion settlement, which involved 40 state attorneys general. I'll give you the rundown of the settlement, what it means and answer the biggest question borrowers want to know: Can you get money from this settlement? In today's episode, you'll find out: What is borrower defense to repayment and why you should apply How to get the most benefit from the PSLF Waiver The background of the Navient lawsuit Why Navient settled the lawsuit The role of Sallie Mae in the Navient lawsuit Navient's predatory lending practices Whether you can get cancelation or a check in the mail from Navient Why Navient is dealing with low-quality debt and what that means for their clients About the damage done to borrowers from the Navient settlement Like the show? There are several ways you can help! Follow on Apple Podcasts, Spotify or Google Podcasts Leave an honest review on Apple Podcasts Follow on Facebook, Twitter, or LinkedIn 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