437 | Student Loan Forgiveness: Essential Update | Travis Hornsby
ChooseFI
Brad Barrett | Choose FI Media
4.8 • 5K Ratings
🗓️ 15 May 2023
⏱️ 35 minutes
🧾️ Download transcript
Summary
This week we are re-joined by friend of the podcast, Travis Hornsby, to discuss some critical updates and deadlines pertaining to student loan forgiveness.
While the thought of paying off student loans can feel daunting, there may actually be some ways to mitigate the stress entirely! Though this episode may not pertain to your situation specifically, we believe it can act as a resource for some you may know, or others on this journey who are looking to potentially have their loans forgiven.
Travis Hornsby:
Timestamps:
- 1:14 - Introduction/Where Are We Today?
- 9:45 - Irreversible Decisions
- 11:55 - The PSLF and IDR Waiver
- 17:34 - $300 vs $1500 a month
- 23:30 - Searching and Patience, What Are The Action Steps?
- 31:33 - Conclusion
Resources Mentioned In Today’s Episode:
- The Student Loan Reset | The Student Loan Planner | ChooseFI Ep 391
- Federal Student Aid
- Book a Consult with The Student Loan Planner (Discount through this link!)
- Subscribe to The FI Weekly!
More Helpful Links and Resources:
- Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
- Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
- Keep learning or start a new side hustle with one of our educational courses
- Commission-Free Investing with M1 Finance
Transcript
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| 0:00.0 | Hello and welcome to Choose a Five. |
| 0:01.8 | We have Travis Hornesby from the Student Loan Planner back on the show. |
| 0:04.8 | So he was here in Episode 391. |
| 0:07.3 | That was actually his third appearance. |
| 0:08.4 | So this is fourth. |
| 0:09.5 | But Episode 391 was one of, if not our single most important episodes of all time, |
| 0:14.9 | because he told us about these real important timelines on getting your student loans |
| 0:20.6 | potentially forgiven entirely. |
| 0:22.7 | And at that point, it was, okay, there's potentially 10% of people with student loans |
| 0:27.5 | who can get their loans forgiven, which is an astonishing thing. |
| 0:30.6 | There were some deadlines at the end of 2022. |
| 0:33.3 | And actually, Travis and I just got that can touch, which is why he's here on the show today. |
| 0:37.8 | And he said, there is some new news and we need to pass it along. |
| 0:41.2 | And his kind of interesting hook was, hey, are you old enough to get your loans cancelled? |
| 0:47.8 | So there's some nuance here. |
| 0:49.6 | Now, potentially everyone who has been paying for a certain time or maybe as old enough can get |
| 0:55.2 | their loans cancelled. |
| 0:56.0 | So this is going to be really, really interesting and applicable to anyone who has student loans |
| 1:01.2 | potentially or you know somebody who has student loans, this is going to be really important. |
| 1:05.1 | With that, welcome to Choose Of Five. |
| 1:14.5 | Travis, my friend, welcome back to Choose Of I. |
| 1:16.7 | So happy to have you here. |
... |
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