Student Loan Planner

We're getting honest about how we can unknowingly sabotage our financial success. We'll break down common behavioral traps like holding onto investments because we've already put money into them (hello, sunk cost fallacy), making decisions based on recent trends (that's recency bias), and following the crowd just because everyone else is (herd mentality). When we can recognize these behaviors, we...

Tackling the real issues you're facing and answering a lot of listener questions that have come in about student loans. We'll chat about the impact of possible political changes on loan forgiveness programs, share tips on managing your loans during servicer transitions, and give advice on everything from autopay issues to whether you should buy property in Hawaii. In today's episode: 00:38 Parent...

Balancing student loans and other financial goals can feel overwhelming, but it's absolutely achievable. We'll guide you through prioritizing your financial goals, from paying off debt to creating a solid foundation with brokerage accounts, retirement planning, and tax strategies for long-term success. In today's episode: 04:40 Start by building an emergency fund (step 1), making the most of your...

Payment caps aren't something most borrowers think about, but they can have a huge impact on anyone using an income-driven repayment (IDR) plan. With ongoing court battles that could reshape repayment options, it's more important than ever to understand what payment caps are, how they work, and why they could mean massive shifts in how borrowers handle their payments and pursue forgiveness. In tod...

Just like physical fitness, financial fitness is key to a healthy life. Discover how personalized financial goals, like a tailored workout plan, can help you build a strong foundation with smart cash flow management, debt control, and a solid emergency savings strategy. In today's episode: 07:41 Cash flow planning makes it easier to balance your income and expenses 16:58 A larger emergency fund al...

Student loan forgiveness has been a political hot potato for years, and recent moves by the Biden administration have reignited fierce debates. I'm breaking down the political chess game behind these battles and where things might go from here. In today's episode: 09:24 Regulations unintentionally increased debt balances for borrowers 18:46 The COVID student loan repayment pause triggered a ripple...

Find out where you stand financially and if you're on track to become a millionaire. Financial experts Meagan McGuire and Sim Terwilliger explain how to evaluate savings strategies, balance debt with investments, and avoid overspending. You'll also learn how understanding opportunity costs can help shape smarter financial decisions. In today's episode: 06:16 Calculate your current standard of livi...

Worried about changes to your student loan payments? It could happen if the Saving on a Valuable Education (SAVE) plan is repealed. Student loan experts Megan McGuire and Sim Terwilliger share how they're advising clients to rethink their repayment approach. In today's episode: 05:24 Parent PLUS loan borrowers need a plan B and plan C 13:44 Fill out a forbearance application to postpone or reduce...

Learn how to lower your taxable income and reduce student loan payments by optimizing pretax benefits like 401(k)s, IRAs, Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), and more. Financial experts Meagan McGuire and Connor Pierce guide you through these valuable strategies. In today's episode: 09:18 Strategies for maximizing retirement savings as a sole proprietor 16:49 How to...

With recertification deadlines for income-driven repayment (IDR) plans being pushed back repeatedly, there's a growing concern that borrowers may be hit with unexpectedly high payments once these delays finally end. This situation is creating what I call the "IDR recertification time bomb." In today's episode: 03:37 Payments could skyrocket to 10 or even 20 times their current amount 07:03 IDR rec...

From mounting credit card and auto loan debt to the less obvious pitfalls of inflation and misguided investment choices, Meagan McGuire and Sim Terwilliger unpack the five financial traps they see student loan borrowers falling into. In today's episode: 01:41 Credit card debt, average balances by generation, and the best defense against growing balances 11:02 Car payments, average loan terms, and...

As legal battles unfold, student loan borrowers face a wave of uncertainty. In this episode, I'll break down the latest developments from the 8th Circuit Court and explore how their recent rulings could impact the future of student loan forgiveness plans like Saving on a Valuable Education (SAVE). In today's episode: 02:33 The 8th Circuit Court's decision to halt the 400-page SAVE plan 05:04 My ta...

Ever wondered how politicians invest? Join me and special guest Meagan McGuire as we discuss the portfolios of Vice President Kamala Harris and other political figures. We'll explore the importance of a balanced portfolio and share our personal experiences on the value of seeking professional advice. In today's episode: 03:33 Kamala Harris's portfolio that Meagan calls "vanilla boringness" 04:58 S...

The latest on the Biden administration's student loan cancellation program includes opt-out provisions that have left many scratching their heads. I'll cover that and explain the legal back-and-forth and endless policy changes of student loan repayment, so you don't have to feel so alone. In today's episode: 00:36 The 8th Circuit Court ruling means everything about the Saving on a Valuable Educati...

Switching jobs is about more than employee benefits and compensation packages when you're a student loan borrower. Student loan advisors Connor Pierce and Jake Courtney explore how federal student loans can adapt to income changes, making them less stressful when contemplating career moves or starting a business. In today's episode: (06:10) Analyze Public Service Loan Forgiveness (PSLF) vs. privat...

The labyrinth of pre-COVID student loan rules are making a dramatic return. I'll explore the Biden administration's key regulations impacting Public Service Loan Forgiveness (PSLF) and income-driven repayment (IDR) plans, the legal battles putting these changes on ice, and what it means for borrowers caught in the middle. In today's episode: 01:50 Revival of Pay As You Earn (PAYE) and Income-Conti...

Dennis Hornsby, licensed insurance agent, joins me to discuss the critical role of disability insurance in protecting your income and lifestyle. He shares his expertise on the advantages of purchasing coverage early to secure lower rates and the ethics of choosing the right broker. If you're a high-income professional or have student debt, you won't want to miss this. In today's episode: 05:19 Emp...

I had an inspiring conversation with Dr. Mike Walker, a veterinary practice owner. Listen is as he shares his journey from graduating vet school in 2017 with significant student loan debt to owning Apollo Vet, a clinic worth between $4 to $5 million today. In today's episode: 04:46 Preparing financially before starting a business 16:51 Fear of the unknown, business opportunities and financial proj...

The Saving on a Valuable Education (SAVE) plan is being temporarily blocked by an appeals court, and the whole plan could be in jeopardy. No new sign ups are allowed, but this is not the final word. Here's what you need to know.

The Saving on a Valuable Education (SAVE) plan faces legal heat. Two separate lawsuits, one in Missouri and another in Kansas, each attacking the plan from a different angle. Is the SAVE plan in danger of disappearing? I'll explain what the lawsuits mean for student loan borrowers and why they're a risk to the SAVE plan, so you know exactly what's going on. In today's episode: 02:04 The Missouri a...

Public Service Loan Forgiveness (PSLF) has been on pause since May while servicing transitions away from MOHELA, causing waves. Student Loan Advisors Sim Terwilliger and Sam Silberstein dissect what these shifts mean for borrowers. Learn the new processes for submitting and tracking PSLF forms through StudentAid.gov, the impacts of administrative forbearance, and the long-term outlook for PSLF. In...

The student loan world continues to change. Looming deadlines are approaching and there is an injunction to the Saving on A Valuable Education (SAVE) plan. Listen in as student loan experts Kathleen Boyd, CFP®, CSLP® and Lauryn Williams, CFP®, CSLP®, AFC® answer your burning questions. Including factors and considerations for the SAVE plan injunction, Pay As You Earn plan, Income Contingent Repaym...

A looming June 30, 2024, deadline means big changes for student loan borrowers. Student loan experts Lauryn Williams and Connor Pierce explain why this is the last call for the IDR waiver, Pay As You Earn (PAYE) plan and Income Contingent Repayment (ICR) plan. Learn what's at stake with these benefits phasing out and how to avoid costly mistakes. In today's episode: 03:58 Last chance for Pay As Yo...

Student loan interest rates are on the rise as we head into the 2024-2025 academic year. What does this mean for you? David Aizuss, CSLP®, explores the effect on students, graduates, and parents. Discover how student loan interest rates work and why higher interest rates could change your approach to repayment and forgiveness. In today's episode: 01:46 New higher interest rates for undergrad, grad...

I'm exploring investment strategies tailored for student loan borrowers, tackling tax challenges, investment allocation, and how specific identification of shares can make all the difference. Plus, I share the link between income-driven repayment (IDR) plans and your investment returns. In today's episode: 04:25 50% VTSAX and 50% VTIAX for simple investing 10:20 Accumulate losses to offset future...