How to Master Your Student Loans with Robert Farrington

The Personal Finance Podcast

Andrew Giancola

Business, Investing, Entrepreneurship

4.7 • 1.4K Ratings

🗓️ 9 March 2026

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

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Summary

Join Andrew’s FREE Investing for Beginner’s Masterclass. Click the Link Here 👈 Join the community built to help you master your money, stay accountable, and reach financial freedom. 👉 Try Master Money Academy free for 7 days today! In this episode of The Personal Finance Podcast, Andrew sits down with Robert Farrington to break down everything you need to know about the sweeping federal student loan changes taking effect July 1, 2026, covering the shift to just two repayment plan options for new borrowers, the elimination of SAVE, PAYE, and ICR, the deadlines existing borrowers need to watch before 2028, tighter annual and lifetime borrowing limits, the end of Grad PLUS and Parent PLUS loans as we know them, how enrollment status now affects what you can borrow, where to start when searching for student aid, and whether in-state school is still the smartest financial move for new students. Join The Master Money Newsletter where you will become smarter with your money in 5 minutes or less per week Here! Partner Deals Join the loyalty program for renters at joinbilt.com/PFP Indeed: Start hiring NOW with a SEVENTY-FIVE DOLLAR SPONSORED JOB CREDIT to upgrade your job post at http://Indeed.com/personalfinance Go to http://policygenius.com to get your free life insurance quote. Thanks to Fundrise for Sponsoring the show! Invest in real estate going to http://fundrise.com/pfp Go to Acorns.com/pfp and start automating your investments and get a $5 bonus today! Get 50% Off Monarch, the all-in-one financial tool at http://www.monarch.com/PFP Find your next dream home, start searching now. Download the http://Realtor.com app today DeleteMe: Go to https://joindeleteme.com/PFP20/ and Use Promo Code PFP for 20% off! Connect with Robert Farrington: Website Podcast Facebook Instagram Youtube X Connect With Andrew on Social Media: Instagram TikTok Twitter Master Money Website Master Money Youtube Channel Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is one of the biggest student loan rewrites we have seen in a year.
0:03.7	So graduate school used to be able to borrow up to the full cost of attendance.
0:08.1	Whatever the number was set by the college, I think we can all agree that's a little crazy
0:12.0	that a college could just throw out a number and say, tuition's $80,000.
0:16.1	Do you know what's a guaranteed return on your investment?
0:19.1	Having that kid go to work at Walmart, Target,
0:21.6	Chick-fil-A, Starbucks, 50% of Americans qualify for total or partial loan forgiveness. And this
0:27.6	is for federal student loans. Save until it hurts is the best money advice I've ever received.
0:32.6	That $20 at 18 years old, by the time you're 30 or 40, that $20 is worth $2,000 and it's a really
0:40.1	big deal. Wealth means the ability to do what you want to do when you want to do it.
0:52.9	What's up, everybody, and welcome to the Personal Finance Podcast.
0:57.7	I'm your host, Andrew, founder of MasterMoney.com.
1:00.5	And today on the Personal Finance Podcast, we're going to be diving into how to master your
1:05.4	student loans in 2006 with Robert Farrington.
1:09.1	If you guys have any questions, make sure you join the Master Money
1:11.8	Newsletter by going to mastermoney.co slash newsletter. And don't forget to follow us on Apple Podcast,
1:16.9	Spotify, YouTube, or your favorite podcast player. And if you're getting value out of this show,
1:21.3	consider leaving a five-star rating and review on Apple Podcast, Spotify, or that favorite podcast
1:27.3	player.
1:28.0	Now, if you've ever taken out a student loan, plan to take one out, or you've got kids
1:32.5	who might one day go to college, I want you to listen very carefully to this episode because
1:37.1	on July 1st, the entire federal student loan system quietly changes. There's going to be fewer
	...

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