December 1, 2021

College

Its all about the school

$700 million in Student Loans Forgiven in a Single Day

9 min read

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 Like the show? There are several ways you can help!

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Source: Student Loan Planner

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