One of the most common questions recently asked by veterinarians in student loan repayment using any of the income-driven repayment plans (IBR, PAYE, REPAYE, ICR) is “When do I need to provide my income information again? Is it before the special pandemic forbearance benefits end? Is it after? How do I know?”
I have federal student loans. When do I need to recertify my income? Read More »
You’re running out of time to consolidate your loans If you have federal student loans, you owe it to yourself to read this. ***NEW UPDATE: CONSOLIDATION DEADLINE EXTENDED TO APRIL JUNE 30, 2024*** Why? Because there are time sensitive options you might need to pursue to save yourself lots of time and money. For over
Veterinary Student Loan Repayment: Trends from the trenches Read More »
On the VIN and VIN Foundation Student Debt Message Boards and during recent Climbing Mt. Debt webinars, hundreds of questions have been asked and answered. One of the most frequent questions is, “Should I switch to the new Saving on a Valuable Education (SAVE) income-driven repayment plan?” In most cases, the answer is yes, you
Choosing between PAYE and SAVE income-driven plans: Are you in The Pickle? Read More »
What to do if you’re in The Pickle – or not Congratulations on your upcoming graduation from veterinary school, Doctors! Whether you’re in The Pickle or not, you have two critical homework assignments to complete before you graduate: File a 2023 tax return; and Review your student loan repayment options, particularly your income-driven repayment plan
2024 Graduating Veterinarians: Special Student Loan Timing Considerations Read More »
Repaying student loans is stressful, complicated, and different than repaying typical business or personal loans. As a result, veterinary students, new graduates, seasoned veterinarians, mentors, and even financial professionals often struggle to determine the best repayment strategy for themselves or colleagues. A major difference, typical business or personal loans normally are paid over a period
Student Loan Forgiveness Planning: Preparing for the Tax Bill Read More »
Brace yourself, this is a long one. We’ve got a lot to cover with the recent recertification pause and confusion around renewals vs. switching repayment plans. Read straight through if you have a large mug of coffee or use the Table of Contents feature to quickly navigate to your section of interest. Income-Driven Repayment (IDR)
Income-Driven Repayment: Recertify, Switch plans, or Wait? Read More »
What is the one-time forgiveness count adjustment? The one-time forgiveness count adjustment for federally-held student loans is a lesser-known, more confusing, yet more widely available special benefit announced in April 2022. Anyone with federally-held student loans is eligible to receive the adjustment. Essentially, the adjustment will count any repayment time, and certain deferment or forbearance
Student Loan FAQs: The one-time forgiveness count adjustment Read More »
New high reached for federal Direct graduate school interest rates Each spring, we closely monitor the U.S. 10-year Treasury yield. Student loan interest rates for the following academic year are adjusted based on where auction data for this note land in May. For the 2024-25 academic year, the result is a continued trend of increasing
Student Loan Interest Rates: New high for 2024-2025 Academic Year Read More »
Does matching student loan payments for retirement contributions make sense for veterinarians? How SECURE 2.0 changes employer retirement savings plans Recently, Congress passed and the President signed into law the SECURE 2.0 Act of 2022. There are many updates and changes to tax-advantaged savings options in this legislation that are taking effect in 2023 and
SECURE Act 2.0: Retirement plan contributions tied to your student loan payments Read More »
Student Debt Q&A from students The following are questions asked during recent Climbing Mt. Debt sessions with 3rd year veterinary students at U.S. colleges of veterinary medicine. They will be graduating in 2024, likely facing an updated student loan repayment framework and transitionary deadlines. With all of the recent changes to federal student loans (current
Student Debt Questions & Answers – from 3rd year veterinary students Read More »
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