Uncertainty sucks. It’s hard enough to make decisions about the future when we have some reasonable expectations of what may happen next. It’s nearly impossible when the path forward is cloudier than usual. With a recent court ruling blocking the new SAVE income-driven repayment plan and a frustrating response by the Department of Education (ED), […]
September 2024 Student Loan Update: FAQs and What’s Next? 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 »
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 »
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 »
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 »
Should you request a refund before the benefits end? The student loan pandemic forbearance benefits started on March 13, 2020. Interest and payments were suspended and the forbearance time counts towards forgiveness. Another provision in the Coronavirus Aid, Relief, and Economic Security (CARES) Act allows borrowers who made payments during the forbearance period to request
Pandemic forbearance payments are eligible for a refund Read More »