Student Loan Planner
Student Loan Planner
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Why Student Loan Borrowers Pay the Highest Taxes of Anybody
Let’s dive in so we can understand what you’re paying in taxes and why. Then we’ll jump into long-term tax planning strategies and what you can do right now to lower your tax bill as a student loan borrower. Here is a tax guide for student loan borrowers: www.studentloanplanner.com/student-loans-and-taxes/
0:00 Introduction
0:25 Federal taxes
1:07 State taxes
1:30 Local taxes
2:04 ACA tax
2:21 FICA
2:41 Income Driven Repayment
2:51 How taxes work for borrowers
5:45 How to pay less taxes
📩 Get the brand new IDR calculator that minimizes your student loan payments so you can use the money on better stuff:
www.studentloanplanner.com/youtube-landing/
#StudentLoans #Taxes#IncomeDrivenRepayment #StudentLoanPlanner
Переглядів: 348

Відео

(Ep. 292) Last Day to Apply for Pay As You Earn & Consolidate for the IDR Waiver
Переглядів 8599 годин тому
Today, June 30, 2024, is the deadline for the IDR waiver, Pay As You Earn (PAYE) plan and Income Contingent Repayment (ICR) plan for non-Parent PLUS borrowers. Things to know about the Saving on a Valuable Education (SAVE) plan are also discussed. This webinar is a last call for action if you're a student loan borrower who could benefit from these plans. Our student loan expert, Meagan McGuire,...
Student Loan Servicers Ranked from Best to Worst | Best Student Loan Servicer
Переглядів 1,1 тис.14 годин тому
You probably have one of the Big Four loan servicers, which are now EdFinancial, MOHELA, Aidvantage or Nelnet. To select one of these servicers as the “best student loan servicer” is relative since most borrowers do not like their servicer. That said, here’s the “best of the worst” based on our January 2024 Student Loan Planner Reader Survey: www.studentloanplanner.com/best-federal-loan-service...
SAVE Plan Injunction: What It Means For Student Loan Borrowers
Переглядів 8 тис.19 годин тому
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 #SAVEplan injunction, Pay As You Earn plan, Income Contingent Rep...
(Ep. 291) Last Call for PAYE, ICR and the IDR Waiver | July 1 Student Loan Deadline and Expiration
Переглядів 1,2 тис.День тому
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: 0:00 Introduction 03:58 Last...
(Ep. 290) Rising Student Loan Interest Rates | Impact on Student Loan Forgiveness
Переглядів 82914 днів тому
(Ep. 290) Rising Student Loan Interest Rates | Impact on Student Loan Forgiveness
Student Loan Payments Paused July 1-31 | Income Driven Repayment Plans
Переглядів 30 тис.21 день тому
Student Loan Payments Paused July 1-31 | Income Driven Repayment Plans
SAVE in Legal Peril | Saving on A Valuable Education Update
Переглядів 1,1 тис.21 день тому
SAVE in Legal Peril | Saving on A Valuable Education Update
Why Your Administrative Forbearance Counts for Forgiveness | Student Loan Forgiveness
Переглядів 3,1 тис.21 день тому
Why Your Administrative Forbearance Counts for Forgiveness | Student Loan Forgiveness
(Ep. 289) IDR Sensitive Investing
Переглядів 30421 день тому
(Ep. 289) IDR Sensitive Investing
Hearing on SAVE Plan Up Ahead | Right-Wing Attorney Generals Challenge Biden’s IDR Plan
Переглядів 78421 день тому
Hearing on SAVE Plan Up Ahead | Right-Wing Attorney Generals Challenge Biden’s IDR Plan
The SAVE Plan is at Risk 🚨 | Saving on A Valuable Education June 2024 Update
Переглядів 1,3 тис.21 день тому
The SAVE Plan is at Risk 🚨 | Saving on A Valuable Education June 2024 Update
Investing for Student Loan Borrowers | Income Driven Repayment Borrowers
Переглядів 42228 днів тому
Investing for Student Loan Borrowers | Income Driven Repayment Borrowers
Parent PLUS Double Consolidation: The final stretch | July 2025 Deadline
Переглядів 2 тис.Місяць тому
Parent PLUS Double Consolidation: The final stretch | July 2025 Deadline
(Ep. 288) PAYE is Ending: What You Need to Know Now
Переглядів 811Місяць тому
(Ep. 288) PAYE is Ending: What You Need to Know Now
Physicians: Avoid burnout and live your financial dreams instead
Переглядів 104Місяць тому
Physicians: Avoid burnout and live your financial dreams instead
How to Buy a House Like a Boss: Veterinarian Edition
Переглядів 212Місяць тому
How to Buy a House Like a Boss: Veterinarian Edition
What Happens to Student Loans if Biden Wins the 2024 Election
Переглядів 1,4 тис.Місяць тому
What Happens to Student Loans if Biden Wins the 2024 Election
MOHELA Student Loan Transfer: What it Means for You
Переглядів 11 тис.Місяць тому
MOHELA Student Loan Transfer: What it Means for You
Pay As You Earn: A Guide to the PAYE Student Loan Repayment Plan
Переглядів 580Місяць тому
Pay As You Earn: A Guide to the PAYE Student Loan Repayment Plan
(Ep. 287) Big Nelnet Problems and Summer Updates
Переглядів 1,5 тис.Місяць тому
(Ep. 287) Big Nelnet Problems and Summer Updates
Top Ways to Get Student Loan Forgiveness at Nelnet
Переглядів 55 тис.Місяць тому
Top Ways to Get Student Loan Forgiveness at Nelnet
Get Student Loan Forgiveness Faster with the IDR Waiver
Переглядів 1,5 тис.Місяць тому
Get Student Loan Forgiveness Faster with the IDR Waiver
Nelnet Issues: Consolidation 👀🚨 | Student Loan Servicer
Переглядів 2,6 тис.Місяць тому
Nelnet Issues: Consolidation 👀🚨 | Student Loan Servicer
(Ep. 286) A New Graduate’s Guide to Student Loan Strategies
Переглядів 317Місяць тому
(Ep. 286) A New Graduate’s Guide to Student Loan Strategies
IDR Account Adjustment Deadline Extended: June 30 | IDR Waiver Opportunity
Переглядів 1,3 тис.Місяць тому
IDR Account Adjustment Deadline Extended: June 30 | IDR Waiver Opportunity
(Ep. 285) What Really Happens at a Consultation? The Truth Behind Our Student Loan Advice
Переглядів 266Місяць тому
(Ep. 285) What Really Happens at a Consultation? The Truth Behind Our Student Loan Advice
"Double Your Profit, Lower Your Stress" Course Introduction
Переглядів 89Місяць тому
"Double Your Profit, Lower Your Stress" Course Introduction
(Ep. 284) Double Your Profit, Lower Your Stress | How to Become a Business Owner
Переглядів 161Місяць тому
(Ep. 284) Double Your Profit, Lower Your Stress | How to Become a Business Owner
Last minute #IDRwaiver Q&A | IDR Account Adjustment April 30 Deadline
Переглядів 2 тис.2 місяці тому
Last minute #IDRwaiver Q&A | IDR Account Adjustment April 30 Deadline

КОМЕНТАРІ

  • @wandRng
    @wandRng 12 годин тому

    Can't even log into their site to pay monthly statement fee. Nelnet has been nothing but the worst!! Im almost done paying off my loans but if they keep this shit up, I may just say you screw me, I'll screw you back. F you Nelnet!!!

  • @gif24gt60
    @gif24gt60 17 годин тому

    Isn't there a reason why the pilgrims fled the mother country?😮

  • @truthspeaks29
    @truthspeaks29 18 годин тому

    It makes me sick...taxation is theft

    • @michael7054
      @michael7054 16 годин тому

      I don't think that really makes sence though because if taxes were taken away the employers would pay the highest earners less and it would balance out. I think a big reason taxes are there too is to tax the business owners because business owners don't actually work / do physical labor.

    • @truthspeaks29
      @truthspeaks29 16 годин тому

      @@michael7054 I would totally be down for taxes if they actually benefitted the taxypayer in SOME way. Im just sick of paying half my money to the govt. We get taxed on our income...then that money gets taxed when we buy things, or just for basic needs. My dad pays $15k in property taxes on land hes owned for 30 years. Its just out of control and do we actually ever see any personal gain from it?😭 it goes to wars and billionaires pockets in bailouts. People say we need taxes for roads and education but ours are shit...so where is the money actually going

    • @michael7054
      @michael7054 14 годин тому

      I guess property taxes is for elementary, middle, and high schools. I dont know.​@truthspeaks29

    • @michael7054
      @michael7054 14 годин тому

      ​@truthspeaks29 some helps fund city bus systems, city libraries, I guess food boxes for the old and poor.

    • @michael7054
      @michael7054 14 годин тому

      ​@@truthspeaks29I'd imagine so much of the tax money goes straight to Medicare, medicaid, and Obamacare ( affordable care act ) or kynect where I live in Kentucky. That's obviously where a lot of the money is going. Social security is funded by the 6.2 % of your check so it's seperate.

  • @StudentLoanPlanner
    @StudentLoanPlanner 18 годин тому

    If you're looking for a tax guide, read this as it can help you prepare for when filing taxes arrive: www.studentloanplanner.com/student-loans-and-taxes/

  • @kaitiglazier
    @kaitiglazier День тому

    Oh man, I used to have Great Lakes, which was amazing and simple and easy for yeeeears. And then it suddenly became Nelnet, which was somewhat confusing in their seeming overcomplication of what used to function so simply through Great Lakes. And then recently, I made the choice to consolidate and switched to Mohela because Nelnet wasn't going great, in hopes of forgiveness y - which I received notice of in May, showing 90% of my loans as "paid in full" or discharged and various other language that very much implied they had been forgiven! And then promptly received an outrageous bill in the mail from Mohela, my first communication from them at all, a payment that was apparently due in about a week and a half from when I received the bill (a few days away now,) but creating a Mohela account online has resulted in them saying they can't populate my data yet and showing the entirety of my loans as balances due! Checking my federal aid account shows the loans as paid in full and discharged with $0 balances and all the loan accounts fell off my credit at once (taking a dramatic toll on my credit because my average age of credit account dropped overnight from 11 YEARS to only 10 MONTHS! I cannot figure out, with any certainty at all, whether I do or do not still owe this $56k debt. I have only a few days to figure this out, apparently, unless I'm prepared to pay the first very HEFTY monthly payment to Mohela, although news the last two days has had stories of courts placing some sort of stay on loan payment requirements even further out than now, and from what I read, this seemed pretty solid and seemed to included me as an affected borrower, now having extended time to have to deal with repayment for the time being. AND YET... the one data point my brand new online Mohela account CAN show me is the amount and date of my allegedly-upcoming payment due date, so I now have absolutely no idea what my status is, whether or not I even owe this huge amount of student loan debt,; how to go about finding out whatever the heck is happening to my (previously in completely perfect standing) accounts, and what options I'm about to be left with as of a few days from now! So far, Mohela has been VERY BAD!

  • @livingbeyondlimitsreneenadja

    I just finished the consolidation of the two servicers!! Now I only have one loan servicer!! Honestly it didn't take long at all. Uploading the idr form today! Im already contemplating a win!! Will be back for an update but thank you to you and your team! Great help!!❤❤❤

  • @JonathanDuBose-wc3oi
    @JonathanDuBose-wc3oi 3 дні тому

    One question that wasn’t addressed: the same regs that included the 10% to 5% AGI payment transition for SAVE also outlined periods of deferment and forbearance (including administrative forbearance for COVID pause) as being able to be counted towards forgiveness. Is this also at risk or do we know yet?

  • @leslielewis40
    @leslielewis40 3 дні тому

    Well since now the SCOTUS has decided that presidents are kings can’t Biden just declare all loans forgiven and let that be that? 🤷🏽‍♀️

  • @Theworldisabeautifulplaceyakno

    I have 5k left in loans. Don't even use the education I got. Shits lame.

  • @veronicamontemayor2122
    @veronicamontemayor2122 3 дні тому

    It's extremely frustrating. My loans keep moving from one service to another. I did not know Mohela loans were transferred to Edfinancial until recently. This student loan business is broken and needs to be fixed.

  • @gif24gt60
    @gif24gt60 3 дні тому

    Whoever started with the right tagged at the end of every sentence? Annoying.😮

  • @AbrahamMuhela
    @AbrahamMuhela 4 дні тому

    Xvideos

  • @Asombrosa2Arabian1
    @Asombrosa2Arabian1 4 дні тому

    What are the odds of REPAYE coming back and including 25 year forgiveness(all grad loans)? We are 5-6 payments from 300. Income is way too high to qualify for IBR. Current save payment is $328. If we had moved to ICR it would have been $1700-1900 right now. (income increase). If we hold firm in Save until next April’s recertify (where we are now.) then our payment would be around $1600 then. Obviously we had hoped to be forgiven soon. Any thoughts?

  • @BUY_YT_Views_176
    @BUY_YT_Views_176 4 дні тому

    Your channel is a testament to the power of positivity. Keep up the fantastic work, and keep spreading the love

  • @LeeLee-ye1rs
    @LeeLee-ye1rs 4 дні тому

    I just noticed 7 notifications in my app.. I have been Forgiven for 7 loans..57k total!! I’m in shock… I had no idea they were forgiven until last nite..they were forgiven back in March!!!! I just have 1 big loan to go!!! Crossing fingers it will happen too!!🙏

  • @lorrainenewell3231
    @lorrainenewell3231 4 дні тому

    The added an additional $65,000 of "payable interest" when it transitioned over - WHAAAAAT????

    • @user-vt2nu2rt5n
      @user-vt2nu2rt5n 4 дні тому

      And I thought them tacking on $1416.26 was terrible. I am writing letters, but what we need to do is sue them, but most of us cannot afford to, and the big four know that. I had Nelnet and no problems. Transferred to Mohela and it all went to SH--!

  • @danig.4799
    @danig.4799 4 дні тому

    Republican's have blocked the IDR Waiver so it doesn't matter

  • @mistysnowden5702
    @mistysnowden5702 4 дні тому

    We had 2 loans that we just hit 120 payments a couple months ago. One of them was forgiven before the transfer, but now we're waiting. I just got notification that everything is transferred, but now, on our last loan, it says we have 0 out of the 120 payments paid! Will this be corrected, or did we just lose everything?

  • @quantinayoung6559
    @quantinayoung6559 4 дні тому

    I am already on the save program. I have 9 loans. 6 of the 9 are already consolidated. Do I need to consolidate the remaining three loans?

  • @matthewmusto5313
    @matthewmusto5313 4 дні тому

    I have Nelnet and am trying to switch from SAVE to PAYE today .. Nelnet just routes me to studentaid.gov and my manage account button is greyed out, what do I do?

    • @StudentLoanPlanner
      @StudentLoanPlanner 4 дні тому

      Complete the PDF version of the application, then upload to your loan servicer's portal: studentaid.gov/sites/default/files/IncomeDrivenRepayment-en-us.pdf

  • @LeeLee-ye1rs
    @LeeLee-ye1rs 4 дні тому

    HELP!! I applied to direct consolidate my loan.. do I also need to complete the idr plan today, 6/30??

    • @StudentLoanPlanner
      @StudentLoanPlanner 4 дні тому

      It depends - are you trying to get on PAYE or ICR? If so, then yes!

    • @LeeLee-ye1rs
      @LeeLee-ye1rs 4 дні тому

      @@StudentLoanPlanner hi! I’m already signed up on the IDR plan…aka SAVE… I had to add on 1 loan to my direct consolidation loan to qualify it for the idr plan.. somehow it got dropped out of my direct consolidation appln… so I’m good!

    • @LeeLee-ye1rs
      @LeeLee-ye1rs 4 дні тому

      ..also I just found out that my inbox had 7 letters from Biden dated back to March that I’ve been FORGIVEN for All 7 loans!!! I still can’t believe it!! It didn’t come in my email.. it was in my app… so everyone it does happen!! 57k of student loans are now Zero balance!!!

  • @chadleymiller425
    @chadleymiller425 4 дні тому

    The instructions are to mail the PAYE app, which means it won't get date stamped by US mail until July 1 which is too late, yes?

    • @StudentLoanPlanner
      @StudentLoanPlanner 4 дні тому

      You can upload the PAYE application to your loan servicer’s online portal today.

    • @chillphil967
      @chillphil967 4 дні тому

      @@StudentLoanPlanner good call

  • @anthonystile
    @anthonystile 4 дні тому

    It can't be done from the website any longer. They stopped it.

  • @chillphil967
    @chillphil967 4 дні тому

    for double consolidation loophole, would SAVE paper application be due tonight?! 😬

    • @StudentLoanPlanner
      @StudentLoanPlanner 4 дні тому

      Today’s deadline is not for applying to SAVE. Applications for SAVE will still be open, although you will have to use the paper application for now. See this link for more info: studentaid.gov/announcements-events/save-court-actions

    • @chillphil967
      @chillphil967 4 дні тому

      @@StudentLoanPlanner thank you for the prompt response! keep up the good work

  • @amyt.9246
    @amyt.9246 4 дні тому

    Help! The students website is not letting us apply for consolidation online!!

    • @StudentLoanPlanner
      @StudentLoanPlanner 4 дні тому

      You can upload the paper consolidation to your loan servicer’s online portal today, then mail it ASAP tomorrow. See this link for more details: studentaid.gov/announcements-events/save-court-actions

    • @amyt.9246
      @amyt.9246 4 дні тому

      @@StudentLoanPlanner I’m so confused. I am trying to finish my Parent solid double consolidation before the deadline tonight. I have my own existing student loans that have already been consolidated and I’m going for PSLF. I don’t want to screw this up and I was counting on being able to do this online. I’ve consulted twice with you guys already and the last time with Megan. Her instructions say to request Mohela and they do already have my other loans, so is that who I upload this to then? And what about finding the account numbers? I can’t find them anywhere on student aid now or advantage. I feel like I’m screwed.

    • @StudentLoanPlanner
      @StudentLoanPlanner 4 дні тому

      @@amyt.9246 If your consultant advised you to consolidate with Mohela, then you should follow that advice. You can locate the account numbers using the NSLDS file Meagan likely attached to your recommendations email. Search your inbox for "SLP Recommendations," download the NSLDS file to your computer, open it up, select the Sheet 2 tab, then search for "Loan Award ID." Keep pressing enter until you have the account numbers for all of your PPLs.

    • @StudentLoanPlanner
      @StudentLoanPlanner 4 дні тому

      Also please note: the double consolidation loophole does not expire until July 2025 NOT 2024. PPL borrowers have time to complete this.

    • @amyt.9246
      @amyt.9246 4 дні тому

      @@StudentLoanPlanner I know but I have my own loans totally 150k and I’m going for PSLF. So I wanted to get these PPL counted in with my loans to qualify for my PSLF counts.

  • @StudentLoanPlanner
    @StudentLoanPlanner 4 дні тому

    A reminder that if you want more student loan updates, consider subscribing to our free weekly newsletter: www.studentloanplanner.com/youtube-landing/

  • @hearne93hearne10
    @hearne93hearne10 4 дні тому

    My loans will increase after 3 2025 it's ridiculous that was the whole point to get on the save plan I don't know what I'm going to do it's sad

  • @tiffanysteen1845
    @tiffanysteen1845 5 днів тому

    What if my spouse who don’t have debt works for post office do I still qualify for pslf or was that only based on my prior employment. We don’t know what’s going to happen that’s motto last 4 years!

  • @tiffanysteen1845
    @tiffanysteen1845 5 днів тому

    It’s June 30! I’m on save with one loan left I consolidated when with Fedloans and paying on pslf plan. I’m no longer on that plan due to leaving the 9 to 5 grind. I paid off one loan during COVID but not the other which I regret not sending 23k I had in that account yet grateful bc we lived off it for last year and used it for emergencies like another car for cash

    • @tiffanysteen1845
      @tiffanysteen1845 5 днів тому

      Only control we have is paying off this debt I graduated undergraduate in 04 it’s 20 years since graduating. 09-11 I was in grad school still paying the govt whose best interest is their own not ours. There should be discount or continuing consultations for existing customers bc situations change. Like I’m only doing gig work and biz work I’m no longer in social services drastically changing our annual incomes

  • @tiffanysteen1845
    @tiffanysteen1845 5 днів тому

    Fedloans is the worst. Mohela very confusing and fed loans moved to mohela

  • @anniewolf8293
    @anniewolf8293 5 днів тому

    I had to file together with my husband for certain reasons, while on the save plan. Will that ruin my save plan and kick me off?

  • @desun77
    @desun77 5 днів тому

    My mohela loan servicer recently transitioned. Nothing updated. Doesn't give information on how long it will take. My loan balance is in there . No plsf info in there either. No payment history.

  • @lisaschell4132
    @lisaschell4132 5 днів тому

    STAY STILL!!

  • @MikeIsherwood
    @MikeIsherwood 5 днів тому

    Did everything from your video, took 3 months but it worked. Wonderful daughter dropped a $125.000.00 loan in my lap great kid.Loans started out at $1149.36 after 4 were consolidated into 2. then became 1 loan payment went to $852.00, then the loophole just like you said now ICB $148.52.Quite a bit of paperwork and a few phone calls after reclassification, but it works. Amazing information, followed your information to the T and it actually worked. Thank You, 4 loans into 1 and it's like magic. Thanks Again

  • @Uiqbal
    @Uiqbal 5 днів тому

    My June payment was not auto debited. I don't want to miss a month of payment as I am counting on completing my job by a certain date, but I also don't want to put in $1500 into a system that is in transition. In the past, payments did not count if there was no bill generated. The new website does not have any content either. Should I wait for more communication or just use autopay and just make the June payment? Thank you!

  • @ryanfootit9305
    @ryanfootit9305 5 днів тому

    I was just transitioned over. There is no mention of PSLF. I shows my IDR amount which should be need to recertify is actually accepted for 14 more months and there is no reference to SAVE plan. I have $365k and a big factor in me taking a teaching position was PSLF. Should I do anything at this time or are we all sort of in a generic holding on the new website? Thank you!

  • @allkindsamusicchick
    @allkindsamusicchick 5 днів тому

    WORST? Ed Financial!!! I've had more problems with them...than Carter's got Liver Pills!! Shame on them!!! They deserve to be put out of business...after all they've put me through....and continue to put me through!!!

  • @hrw3mom103
    @hrw3mom103 5 днів тому

    How about death of the student? Seems Nelnet wants to take their time forgiving my parent’s PLUS loan for my late sister.

  • @jppalm3944
    @jppalm3944 5 днів тому

    It’s a loan. Pay it back.

  • @Bonemanwalkin
    @Bonemanwalkin 6 днів тому

    Why is she walking around? So distracting

  • @Jake-pn7wr
    @Jake-pn7wr 6 днів тому

    Bless your hearts for making this video and answering questions. Thank you so much

  • @d3po455
    @d3po455 6 днів тому

    Does anyone else get a blank screen when they log into Nelnet? Or a 'page not working' error?

  • @wookieecantina
    @wookieecantina 6 днів тому

    We began a double loop hole consolidation at the beginning of the year and we're still not finished because EdFinancial stalled the entire process and have us nothing but grief. I would never recommend EdFinancial.

  • @UnknownUnknown-tu3be
    @UnknownUnknown-tu3be 6 днів тому

    I went from MOHELA to EdFinancial. Moving on up baby!

  • @tray99847
    @tray99847 6 днів тому

    What about the ones with 20+ year loan, prior to 2023 under the save plan? If you've filed the 20 uear complaint, is this no longer a possibility?

    • @tray99847
      @tray99847 6 днів тому

      2003*

    • @StudentLoanPlanner
      @StudentLoanPlanner 5 днів тому

      (You might be referring to the 20-year forgiveness for undergraduate loans under the SAVE plan). Unfortunately, all loan forgiveness under SAVE is currently cancelled due to this injunction.

  • @SmecaWash
    @SmecaWash 6 днів тому

    I really like Aid vantage, had Ed Financial and they were terrible