Money Checkup Podcast

Episode 14: What You Should Know About Student Loan Planning with Travis Hornsby

The world of student loans can be daunting, and one that is challenging to navigate. Should you continue with Federal loans? Should you refinance to private loans? What are the benefits and dangers to both? In today’s Money Checkup, Travis Hornsby joins me on the show to give some insight into how you can navigate some of these questions and more to figure out what is best for your situation and your student loans.

Travis Hornsby founded Student Loan Planner after helping his physician wife navigate ridiculously complex student loan repayment decisions. To date, he’s consulted on over $367 million in student debt personally, more than anyone else in the country. He is a Chartered Financial Analyst and brings his background as a former bond trader, trading billions of dollars.

What We Will Cover

  • Some of the repayment options for student loans
  • How Congress got involved over the years with student loans
  • How Married Filing Separately and Married Filing Jointly affect your taxes when you have student loans
  • How the federal repayment plans differ and how they are the same
  • An explanation of the breadwinner loophole and the reverse breadwinner loophole and how it might apply to you
  • Some of the things to be cautious of when using income-based repayment plans
  • When you can recertify your income driven repayment plan and when you should
  • Tax filing errors to be aware of if you own your own business and have student loans
  • Some of the controversy around the Public Service Loan Forgiveness (PFLS) program and what might happen in the future
  • How PFLS effects different occupations
  • How the Aim Higher Act and other Congressional proposals could impact PSLF
  • Which payment plan makes sense if you’re pursuing PFLS
  • The importance of being in a capped plan if you’re not in a partial financial hardship
  • How consolidating loans can negatively impact what you can do with your loans
  • When private refinancing makes sense for you
  • Income Driven Loan forgiveness explained and when you should utilize it
  • The protections federal loans offer that aren’t included in private loans
  • The best way to tackle student loan debt and keep the burden as small as possible
  • A rule of thumb to figure out how much debt you will be in when you finish med school training

Getting Connected With Travis

Click here if you want to read the transcript instead!

What You Should Know About Student Loan Planning with Travis Hornsby

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