Student Loan Planner

Lots of topics to cover in this episode - I answer reader questions about student loan repayment and the best strategies for dental specialists. We also dive into what I think about the chance of Biden forgiving student loan debt and what that could mean for your taxes, and we have an interview with Justin Sloan, CFA, CFP, about asset allocation and the best way to save for retirement. In today's episode, you'll find out: Why dental specialists have higher student loan debt than other borrowers How to handle student loan repayment during residency What to do if you didn't file a tax return because you had $0 income How to make a $0 monthly payment on your student loans during residency Whether REPAYE or PAYE makes more sense for repayment What to do about accrued interest on your student loans When paying extra on your student loans is like throwing money away Why it doesn't make sense to pay extra toward accrued interest Will Biden cancel some student loan debt Can student debt cancellation be done legislatively What happens if Biden issues an executive order canceling student loan debt Why canceled student loan debt could cost you more money How to best save for retirement The importance of asset allocation and diversifying your savings vehicles Why your 401k isn't enough How to get financial flexibility when preparing for retirement Full show notes at: http://studentloanplanner.com/106 Like the show? There are several ways you can help! Subscribe 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

Your student loan balance at the end of your program can balloon more than you thought you'd end up with. Find out how that happens, why I think America's first $700,000 dental degree is worth it and why your student loan debt doesn't matter as much as you think. In today's episode, you'll find out: The hidden cost of higher education How tuition inflation impacts students How much accrued interest adds to your loan Why your loans balloon so much while you're in school How to calculate tuition inflation using the Wayback Machine Lies admissions counselors tell you to convince you to enroll How NYU can charge $700,000 for a 4-year DDS degree Why expensive law schools, medical schools, dental schools and other professional degree programs cost so much How your student loan payment can be the same for $700k and $200k of debt When to look at student loan debt as a tax instead of a debt Why I think the tax bomb will disappear in a few years Loopholes to maximize IDR plans and pay 5% of your income Full show notes at: http://studentloanplanner.com/105 Like the show? There are several ways you can help! Subscribe 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

If you're facing a potential salary decrease due to decreasing insurance reimbursement rates, you can start to worry about paying your student loans. In this episode, I talk about steps to take to mitigate the impact and what you can do if you're in this situation. I also cover lessons you can learn about managing your student loans from Trump's finances. Find out how to lower your tax liability and save money on your student loans using lessons from Trump's tax records. In today's episode, you'll find out: How Medicare reimbursement decreases can impact salaries in healthcare The ripple effect of reimbursement cuts on student loan payments How to deal with salary cuts when you have student loan debt Why I think the tax bomb won't be a problem because it won't be collectible How healthcare business owners might be impacted by reimbursement decreases Lessons from Trump's finances as reported by the New York Times How to reduce your tax liability when the tax bomb comes due Why real estate is a great strategy to lower your tax liability How to get out of paying taxes on the forgiven balance of your student loans The benefits of tax-loss harvesting How to use retirement contributions to lower your tax bill Strategies business-owners can use to decrease their tax liability Full show notes at: http://studentloanplanner.com/104 Like the show? There are several ways you can help! Subscribe 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

Each state is working to certify the official election results, but we have an apparent winner in President-Elect Joe Biden. Given the history of Obama-Biden student loan policies, it's likely that we'll see some progressive changes that could affect the future of student loans. Here are seven things that a Biden administration may try to achieve, and my thoughts on how that could affect the treatment of student loan debt going forward. In today's episode, you'll find out: What a Biden administration could mean for the future student loans Why Biden might make applying for bankruptcy for student loans easier, and why it doesn't matter What forgiveness might look like under Biden's plan for borrowers What a compromised forgiveness expansion might look like Why reducing IDR payments could be bad for everybody How the REPAYE program was born and what that could mean for student loan reform How increasing Pell Grants could be a big win for working class or lower-income families Why eliminating the tax bomb likely won't happen in the next 4 years How making college free would cause the cost of tuition to skyrocket Why I think Biden's team grossly underestimated the cost of their student loan plan Will Trump extend the student loan interest and payment freeze When you should refinance your federal loans Whether you should refinance even if your interest is 0% Full show notes at: http://studentloanplanner.com/103 Like the show? There are several ways you can help! Subscribe 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

People love retirement accounts. If I had a dollar for every time someone got excited about contributing to their backdoor Roth IRA, I would probably be a millionaire. While it's great energy to have, it's not that important to your long-term financial future. In this episode, I share my thoughts on why your retirement accounts don't matter nearly as much as you think. In today's episode, you'll find out: Reader question: Are student loan repayment grants worth it? Reader question: Two key differences in employer student loan programs Reader question: Can you prepay or make lump sum payments for PSLF? Why backdoor Roth IRAs aren't as great as you think My shocking confession about backdoor Roth IRAs When retirement accounts actually DO matter Why age 50 is a key milestone in your retirement plans Why retirement accounts can't help you if you want (or need) to retire early How to use a brokerage account as a financial safety net What to do if you want to be financially independent How low-income individuals can reach early retirement Why you shouldn't optimize every financial decision Full show notes at: http://studentloanplanner.com/102 Links mentioned: StudentAid.gov PSLF guidelines Physician on Fire guide to backdoor Roth IRAs Like the show? There are several ways you can help! Subscribe 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

With the election looming, we're all anxious about what might happen. And with that, a public service announcement: If you haven't voted, please go vote! Regardless of who wins, there are risks to your finances post-election. I'm sharing the five biggest risks that you should pay attention to - and how to overcome them - once the election season is over. In today's episode, you'll find out: How candidate policy changes could impact your finances Why you shouldn't worry about finishing your education How going back to school can help you financially How professional credentials can boost your career Why getting more education is key to financial success Why inflation might not be a bad thing How to know if now is a good time to buy a house How to use low inflation to your advantage as a renter What might be coming down the pipe for student loan reform Why I think the tax bomb will go away in the next four years When to refinance no matter what happens with the election Why financial setbacks won't matter that much in 2021 How to make better decisions to minimize the financial impact of political leaders Full show notes at: http://studentloanplanner.com/101 Like the show? There are several ways you can help! Subscribe 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

For this milestone 100th episode, I'm joined by all four consultants. Because we're just one week away from the election, I'm talking with them about the election and what we expect could happen to your student loans regardless of who wins the 2020 presidential election. In this episode, you'll find out: A recap of Travis' paternity leave Travis' preferred brand of diapers for his new baby The difference between a "trip" and "vacation" when you're a parent The probability of there being a "blue sweep" How the Biden plan could impact student loans going forward Bipartisan support that we've seen during stimulus discussions How long we think the payment and interest freeze can last Will the consultants get a COVID vaccine when it's released The impact of inflation of your financial life and spending plans The role of gambling and trading cards in the pandemic Full show notes at: http://studentloanplanner.com/100 Like the show? There are several ways you can help! Subscribe 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

Justin Harvey, CFP®, and Rob Bertman, CFA, CFP®, explore income-driven repayment (IDR) plans, how each can affect your financial future, and strategies to help you maximize your student loan repayment and keep more money in your pocket. In today's episode, you'll find out: What the IDR payment cap is and what plans have one Which IDR plans are best for physicians and other high-earning professionals How the Standard Repayment Plan can factor into your IDR plan Which plan is best if you expect a big jump in income The two main strategies you need to pay off student loans When it makes sense to refinance When it's okay for your student loan balance to grow over time When you should - and shouldn't - pay extra on your loans What percentage of income each IDR plan uses for their monthly payment How long taxable forgiveness takes The impact of spousal income on student loan payments Full show notes at: http://studentloanplanner.com/99 Like the show? There are several ways you can help! Subscribe 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

Is there anything scarier than student loans? With Halloween just around the corner, student loan experts Lauryn Williams and Meagan Landress share scary updates from 2020 and terrifying student loan stories. In today's episode, you'll find out: An update on student loan changes so far this year If student loan payments will be suspended after December 31 Should you recertify your income-driven plan before the end of the year Why recertifying your income now could be a smart strategy What to do if your mortgage broker won't qualify you for a mortgage How to handle student loans if you think bankruptcy is your only choice What happens if you pass away with a student loan balance Can disabled veterans have student debt discharged What to do if you have FFEL loans and want to qualify for PSLF How to figure out how long you've been in an income-driven plan Full show notes at http://studentloanplanner.com/98 Like the show? There are several ways you can help! Subscribe 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

We have seen a lot of changes to the student loan system over the last few months. The Student Loan Planner team of consultants - Meagan Landress, Lauryn Williams, Justin Harvey, and Rob Bertman - are following the changes to keep you up to date. In this episode, they're answering your questions to give you the low-down on student loans. In today's episode, you'll find out: How your payments are calculated if your income goes up How a partial financial hardship factors into your payments Can your servicer kick you off an income-driven repayment plan Pros and cons of employer student loan benefit packages Whether student loans can be discharged in bankruptcy How to take advantage of student loan relief Should you consolidate your FFEL loans How to lower your student loan payments if you're struggling to pay Will schools lower tuition because of virtual classes Full show notes at http://studentloanplanner.com/97 Like the show? There are several ways you can help! Subscribe 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