When I met my wife she had six figures of debt from med school. I thought it would be “easy” figuring out how we should go about being debt-free.
We encountered a half dozen different income-driven repayment programs, loan forgiveness, and more.
It was far too complicated.
That’s why I started Student Loan Planner. We help serve our clients through:
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It's my hope that these videos will serve as a resource for you to feel at ease with your student loans and most importantly, confident with your plan moving forward. I share a few videos every week, please subscribe so you won't miss out. -Travis
I disagree never Lease pay cash for it. Take the money that they would’ve been spending on the monthly lease or car payment and they can put that into a targeted savings account to pay cash for their next vehicle or to maintain their vehicle without the credit card debt or they could take that average car payment and eliminate some other debt. Drive used and pay cash for nicer car with money saved back each month. If you can’t pay cash you can’t afford it! Never lease anything that depreciates
I’m so glad that 10 years ago my friend shared with us a financial literacy program and two years ago that we launched away for people to pay for every day shopping without the credit cards, and that we pay a percentage of that interest and inflation back to the people who needed the most! Pay cash you don’t need credit it’s number one pipeline from the banks!
I’m so glad that 10 years ago my friend shared with us a financial literacy program and two years ago that we launched away for people to pay for every day shopping without the credit cards, and that we pay a percentage of that interest and inflation back to the people who needed the most
I am completing the PSLF for a 10 year. For forgiveness. I was previously on the SAVE plan which is now in forbearance. Will these months that I am in forbearance count towards the 120 qualifying payments?
I just did the double parent plus loan consolidation, is it still possible to apply for the loan forgiveness ? The application is under my name, but filing married jointly. If my husband and i file taxes separately, can the loan be transferred to him. Since he’s retired and make less than me?
What would happen if someone consolidated before June 30, but the IDR SAVE application is on pause due to the lawsuit, so the borrower is still on a standard repayment plan. Will the adjustment ever get applied?
Can you can clarify if we're on the save plan, do you think forbearance will last until Oct 1st or longer. When do you suspect interests to restart? Would be nice if I had a few dollars not going towards interests. Thank you so much.
I've just received an email from Nelnet stating that I need to make payments on the standard repayment plan until my IDR application has been reviewed :( I read the other day on studentaid.gov that while applications were pending, that the loans would be in forbearance. Oh god...
Well, yesterday, my count was updated to 120 met! My pslf was submitted in July! Now, I'm waiting to see the loans gone! It's been a long waiting, and I struggle with patience.
@sweetsugargum Congrats! I am with mohela. I submitted the PSLF in April for my 119, and it was completed right away. I submitted in July after the PSLF hold was listed for my 120 to be updated. They finally updated my count this month. I ended up making 2 June payments and a July payment due to the mohela account transition. I was on the SAVE plan. My count was just updated on FSA, but the loans are not forgiven yet. Fingers crossed and waiting!
@@kristenw9995 oh ok. I’m on PSLF too and have worked with my non-profit for 5 years and received 45 of 120. Looks like I’ll be here another 7ish years if not forgiven on the Save plan. Congratulations! What a relief to be able to be out from under this. Celebration required!
I would qualify for 120 payments after this month Oct but am in the SAVE forbearance currently. Should I switch to IBR or not and try to do PSLF buyback instead? Loan payments and employment certification is so back logged none of it is up to date on student loan website. Do I have to wait until they update all that to submit the buyback request?
Just to clarify, When you are given payment refund for payments made during covid they then add the amount of your refund back to the total balance of your loan , which is something i didnt think about at first. Also, i had made the request through mohela and they additionally made the request for me to dept of education, THEREFORE, i received two refunds both of which got re- added to my loan balance. Have you heard of this happening?
Hi, Travis. Appreciation for your time in putting this information out You mention in this podcast that the IDR Waiver has been completed. How is that so? I have been waiting for my count since its inception. I consolidated from a FFEL To Direct Consolidation in 2021. Are you saying it was completed and not yet implemented, or, are you saying it has been completed and implemented? FSA website said it was to end on 9/1/2024, though, now some are hearing before 1/1/2025.
I submitted a PSLF buyback request about a month ago and haven’t heard anything back yet. Upon submitting my buyback request, my confirmation stated that I would eventually receive next steps via email. I’d be happy to share details about my experience once they unfold. But the bit of info I have to share so far is 1+ month since I submitted the buyback request and I haven’t heard anything back yet. And by way of update on another ETA issue, my PSLF employment certifications I submitted 7/22 & 8/23 were just accepted 9/30. So that was a 2+ month wait from the first 7/22 request I submitted if anyone is waiting/wondering about ETAs on that front. Unfortunately, my payment from 6/24 is just missing from my account all together and I’m now waiting on feedback from a complaint I submitted to correct that error in payment history & PSLF credit count. I’ll post back on the timeframe it takes to correct that error. And interestingly, I had a PSLF employment certification filed from 9/23/24 that they skipped looking at (I certify monthly now since I’m at 122 months of qualifying employment and seeking PSLF buyback) when they looked at my July & August certifications. So it’s not like they get to your account and clean up all pending issues. Instead, they appear to just hit some of the oldest issues, then move on.
Not everyone can go to the army If you have vision issues that can’t be easily corrected or preexisting conditions like asthma . We pay our dues in taxes every year for the money to rarely improve the country, social safety nets or literally doing anything to lower the price of living
@@P8nplays Cool.. well when you are effectively offering free college via student loan forgiveness, don't think too hard about why the military can't meet its recruiting requirements.
@@caseycooper2381 most people aren’t getting forgiveness and people aren’t going to the army because you are just cannon fodder for this countries foreign meddling and resource hunting. Only reason we destabilize these countries is for resources and to make sure people see America as the “police”.
Pay your interest weekly on each loan + more. You will see your balance go down. You have to pay more than the minimum to erase debit. Just like credit cards.
Every single thing on this planet is only for profit dont sugar coat that shit. Humans are greedy in nature dont play it off like someone actually did something for the good of humanity.
Sounds like pslf isn't going to even be factored in when considering working for a nonprofit for the benefits soon if the govt wins the battle against pslf
We're dedicating next week podcast on things we're seeing. Tune in next Tuesday, 10/8 for more. Also, don't forget to subscribe to the newsletter if you haven't already. I share more there as well: www.studentloanplanner.com/youtube-landing/
Do you know how it works with income certification (in case SAVE is killed therefore spousal income counts) if one is 1. Living abroad 2. Married to a non-US citizen who doesn’t file US taxes therefore filing married filing separately
