Student Loans
A flurry of recent court activity has impacted several student loan forgiveness programs, and millions of borrowers are in limbo. While the Public Service Loan Forgiveness (PSLF) program isn’t directly targeted, the ripple effects of these lawsuits could still impact PSLF borrowers. The fate of the program may hinge on...
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Published on: 2024-09-12
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Student Loan Planner
Okay, not a new car, but a new-to-us car. If you’ve been following our financial journey, then this probably isn’t a big shock, as we’ve been saving for a new vehicle. We still had a long way to go until we reached our goal amount and we didn’t buy the...
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Published on: 2024-09-12
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Six Figures Under
The post Student Loan News for Sept 2024 appeared first on Student Loan Professor. ...
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Published on: 2024-09-10
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Student Loan Professor
Last week, the Supreme Court issued a critical initial ruling in the ongoing legal battle over the SAVE plan, the Biden administration’s new income-driven repayment program. Here’s what the ruling means for the ongoing legal challenges and the future of the SAVE plan and student loan forgiveness more broadly. The...
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Published on: 2024-09-09
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Student Loan Planner
The post Republican States Sue to Block Biden’s Loan Forgiveness Plan…Again! appeared first on Student Loan Professor. ...
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Published on: 2024-09-05
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Student Loan Professor
Three major Biden administration student loan relief programs are on track to end during the month of September. The benefits of these programs have had far-reaching effects, and their conclusion will impact student loan forgiveness, repayment, collections, and credit reporting for millions. Here’s a breakdown and what borrowers should know. ...
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Published on: 2024-08-29
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Student Loan Planner
Millions of student loan borrowers are about to confront soaring income-driven repayment (IDR) payments far higher than most realize, and it’s going to start happening in waves in 2025. This “IDR recertification time bomb” could have major implications for the economy, and the pending challenges to the Saving on a...
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Published on: 2024-08-26
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Student Loan Planner
At least eight million borrowers have been forced into an administrative forbearance due to ongoing legal battles over the Saving on a Valuable Education (SAVE) plan. SAVE is a new income-driven repayment (IDR) plan that the Biden administration finalized and released last fall. The program offers lower payments, ends runaway...
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Published on: 2024-08-21
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Student Loan Planner
Guardian and Ameritas are two of the “Big 5” companies that offer disability insurance. High-income professionals like doctors, dentists and veterinarians might be familiar with true own-occupation coverage being essential. But when it comes to the nitty gritty details, only an agent can get into the minor specifics that make...
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Published on: 2024-08-20
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Student Loan Planner
After deciding to take a trip to Guatemala, I immediately got to work making a budget. Rather than just save up a random sum of money and hope it would be enough, I did lots of research and created a meticulous, well-thought-out budget. If you missed it, you can check...
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Published on: 2024-08-20
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Six Figures Under
The post August 2024 Student Loan Update appeared first on Student Loan Professor. ...
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Published on: 2024-08-15
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Student Loan Professor
Millions of borrowers are in forbearance as legal challenges over a signature Biden administration initiative continue. Following a recent court ruling, the forbearance looks likely to continue for the foreseeable future, while even more uncertainty looms for borrowers. The SAVE plan: What it is and why it’s under fire The...
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Published on: 2024-08-13
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Student Loan Planner
It’s the time of the month where I tell you how much I love having a budget! Budgets often get a bad rap because some people see them as restrictive, but if you’ve been around here for any length of time, you know that I believe the opposite is true....
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Published on: 2024-08-13
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Six Figures Under
The Biden administration is moving forward with a brand new student loan forgiveness plan. If implemented, millions of borrowers could receive partial or complete debt relief. Biden’s latest plan is the culmination of a year-long effort to establish a “Plan B” for mass debt cancellation after the Supreme Court nixed...
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Published on: 2024-08-09
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Student Loan Planner
The post Biden’s Plan B for Loan Forgiveness appeared first on Student Loan Professor. ...
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Published on: 2024-08-02
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Student Loan Professor
Earlier this month, a federal appeals court ordered the Biden administration to halt the implementation of the Saving on a Valuable Education (SAVE) plan. This new income-driven repayment (IDR) plan features reduced payments, an interest subsidy to prevent runaway interest, and accelerated student loan forgiveness for certain borrowers. Despite the...
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Published on: 2024-08-01
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Student Loan Planner
Dentists have perhaps the easiest and best path of all professionals to lower their taxes through depreciation with practice ownership. Depreciation allows you to expense an asset over time to account for the replacement need of that asset. Realistically, though, lawmakers change the tax code to change depreciation rules from...
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Published on: 2024-07-30
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Student Loan Planner
In March of last year I shared some big news. I announced that we would be pausing our Airbnb and remodeling our above-the-garage apartment into a space for a Ukrainian refugee family. Three months after their arrival I shared all the details of how this has changed our finances. Now...
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Published on: 2024-07-30
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Six Figures Under
Disability insurance is a type of policy that provides financial protection by replacing a portion of your income if you can’t work due to a disability. But what does disability insurance cover? First, to get any disability covered, it must last longer than the elimination period. For example, suppose Ryan...
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Published on: 2024-07-27
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Student Loan Planner
The post What the SAVE Plan Lawsuit Means for Borrowers appeared first on Student Loan Professor. ...
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Published on: 2024-07-26
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Student Loan Professor
What are Vice President Kamala Harris’s student loan policies and views on student loan forgiveness? What could we expect of a Harris administration if she wins the 2024 Presidential election? We’ll discuss proposals the Vice President has supported in the past, what she’s done as Vice President, and predict what...
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Published on: 2024-07-25
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Student Loan Planner