$700 million in Student Loans Forgiven in a Single Day

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By Travis Hornsby. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

The Department of Education recently forgave around $700 million in student loans in a single day. I talk about how the new PSLF Waiver played into that, what it means for student loan forgiveness, and what it means for you and your finances. I also sit down with Ben Martinek, EA, CSLP®, CFP®, of Student Loan Tax Experts. He shares his experience helping student loan borrowers with their taxes and how you and your spouse may be able to save some cash through amended returns.

In today’s episode, you'll find out:

  • Who the Department of Education is giving forgiveness to and when
  • How to make the right student loan decisions based on your finances and your personality
  • The problem with the tax-bomb after student loan forgiveness and why I think the tax-bomb won’t actually happen
  • Why refinancing student loans to a lower interest rate isn’t right for everyone
  • The important of planning for unpredictable events in your finances
  • How the current administration decides on student loan policy
  • How to save money by amending tax returns with a three-year lookback period

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