(Ep. 116) Is It Ever a Good Idea to Abandon Student Loan Forgiveness?

A big focus of our podcast is maximizing loan forgiveness when you owe a lot more than you earn in student loans. But what if your income grew to a point where it would cost more if you stuck with forgiveness? Should you abandon student loan forgiveness? Join me as I discuss all you need to consider when making the decision to pay off your loan and abandon forgiveness.

In today’s episode, you’ll find out:

✅ How much money you need to make to consider abandoning loan forgiveness
✅ Why you should not abandon PSLF if you have accumulated qualifying credit towards forgiveness
✅ Why staying on forgiveness might be the best decision even when you can pay off the loan
✅ The circumstances that might force you to abandon forgiveness and pay off your loan
✅ The revised debt to income ratio for when it makes sense to pay off your loan
✅ How to know when forgiveness is no longer a good option
✅ Why you shouldn’t take a job just because it offers student loan forgiveness
✅ What would be the effect of a new PAYE plan with no tax bomb
✅ Why you might be unlikely to get student loan forgiveness
✅ Why your savings rate is the most important thing when thinking about abandoning forgiveness
✅The reason why you should take the 20-year REPAYE plan if you go for repayment
✅ Why Biden’s student debt cancellation promise might not happen

📒 Show Notes 📒 at: http://studentloanplanner.com/116

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Feeling helpless when it comes to your student loans?

➡️ Try our free student loan calculator: https://www.studentloanplanner.com/student-loan-calculators/
➡️ Check out our refinancing bonuses we negotiated: https://www.studentloanplanner.com/refinance-student-loans/
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#StudentLoanPlanner #TravisHornsby #FinancePodcast #StudentLoanDebtPodcast

Source: Student Loan Planner

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