Travis Hornsby, CFA, CFP® @StudentLoanTrav Twitter profile

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Travis Hornsby, CFA, CFP®

8 months

Student Loan Planner: The experts in helping you navigate these and other complex questions to maximize your savings and minimize your stress and debt anxiety. Get a custom student loan plan from our CFP®, CFA and CSLP® professionals. Learn more:

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

Wild student loan stat of the day. Borrowers 34 and under still owe about the same amount of debt today as they did in 2017. Borrowers 62 & over owe 2.2 times as much as they did in 2017.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

Our article on "how to flee the country because of student loans" is trending top 10 on our website.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

BREAKING: Student loan pause to be extended until Aug 31, which means that the first pmt would be due late Sept / early Oct. This seems to be designed to provide an oppty for an addtl relief announcement right before the midterms. vs announcing Dec 31 as the date right now.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

A thread on all the problems happening at Dept of Ed right now. Hopefully the team there resolves these soon. 1. The payment estimator can't be trusted. Getting tons of borrowers telling me the estimator told them to choose ICR. That's 20% of income. SAVE is 5% to 10% of income.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

4 years

@HawleyMO As a Missouri voter, you do not speak for me. I'm embarrassed by your behavior and you personally contributed to today's events at the Capitol.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

3. Dept of Ed is not communicating with servicers. Nelnet just told its borrowers Sept doesn't count for forgiveness bc the pause is over Sept 1. It claims Dept of Ed told them this. Meanwhile, every borrower who contacts MOHELA / Aidvantage is being told the opposite.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

Student loan pause extended to no later than June 30, 2023!

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

About 5 years ago, borrowers over age 35 accounted for 54% of all federal student debt. Today the over 35 crowd accounts for 78% of all federal student debt. Student debt is not really a young person's issue anymore.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

🚨THE PSLF HELP TOOL NOW SENDS DIGITAL SIGNATURE REQUESTS & TRACKS THE STATUS!!!! Learn more:

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

4. Borrowers who qualify for IDR account adjustment discharge are sitting in limbo. There's nothing stopping Dept of Ed from immediately discharging the debts of 800k borrowers who qualify under the IDR waiver. A recent lawsuit though could change that. Dept of Ed needs to move

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

The next big student loan crisis will be parent plus borrowers. Their safety net of doing the double consolidation to get REPAYE has been blocked. There’s no caps on parent plus. So starting in 2025 there won’t be a safety valve and they can’t access SAVE. So defaults and social

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

9 months

From what I can tell, the majority of borrowers at MOHELA right now are paying 0 a month with 0 interest accruing bc MOHELA can't calculate what people owe, so they're putting ppl into admin forbearance, which Dept of Ed is treating like a SL pause extension

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

What's plan B for the Biden admin if cancellation gets blocked by SCOTUS? Dept of Ed could 1) make New REPAYE more generous, 2) cancel debt via HEA and extend the pause, 3) choose to not collect the debt they planned to cancel. It's very unlikely they do nothing

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

SCOTUS decision on student debt happening tomorrow around 10 to 1030 am ET

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

The untold story about the $39 billion getting discharged is that there’s actually more like $200 billion that’s eligible. But most borrowers don’t know that they need to consolidate.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

I think it’s increasingly likely student loans won’t start again until 2025 unless the Supreme Court intervenes

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

IDR WAIVER ANNOUNCED: Long term forbearance credited to forgiveness under PSLF and IDR plans. Prior pmts made before consolidation now count. Deferments besides in-school deferment now counts. THIS IS VERY BIG

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

7. No one knows exactly what the payment on ramp means. You're supposed to make payments, but there's 0 consequences if you don't. So do you just not do anything and ignore your bills if you want to do this? Or do you need to tell your servicer?

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

If I was dept of Ed, I would be working through the weekend to start discharging idr waiver amounts for those 800k borrowers now.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

Seems like Dept of Ed is about to start mass approving IDR waiver discharges. Going to be a lot of very surprised people out there.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

Biden says interest to start Sept 1. But that’s in violation of the debt ceiling law no? (Waivers end 60 days after June 30). That would be Aug 30. Reason it matters is that could be a precedent for another pause extension

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

People want to talk about how the student loan servicers are to blame for everything. But where is the Dept of Ed? IDR waiver deadline 45 days away, no details. Spousal consolidation not implemented. Where is the accountability & apology for doing a bad job?

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

SCOTUS might be announcing the student debt decision tomorrow. Why? Bad news goes out on a Friday and it’s a holiday weekend.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

For mortgages, the govt requires a cost estimate that in some categories can’t be off by more than $100. For student loans, colleges can be off by $50,000 with no consequences. No wonder there’s a crisis.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

5. The PSLF page is occasionally crashing. If you go to the PSLF help tool, it often doesn't work for borrowers, possibly bc it can't handle the traffic.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

2. The FSA website is blocking borrowers from signing up for any IDR plan not named SAVE. Borrowers have until July 2024 before any plans are formally blocked for new entrants. This is happening bc the new beta application for SAVE seems to grey out any IDR plan besides SAVE.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

Biden just proposed a permanent student loan pause and free college for almost all but no one realizes it yet!

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

I have so many questions about this IDR waiver from @FAFSA , first and foremost, if you're going to give credit for IDR on ALL repayment plans, THEN ARE YOU GOING TO BE CANCELLING ALL DEBT FOR 4 MILLION BORROWERS IMMEDIATELY WHO HAVE BEEN IN REPAYMENT FOR 20 YEARS OR MORE?

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

SoFi listened to oral arguments at the Supreme Court and concluded that the Biden administration would continue the student loan pause until mid 2024 and decided to act while they're still a company (note: one of their competitors Commonbond went bankrupt waiting for it to end)

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

4 months

“There will be a pause in processing for all PSLF forms while we transition the program to ED. Beginning on May 1, 2024, you will no longer be able to access your PSLF progress, certified employment, or payment counts on MOHELA’s borrower portal. If you want to save screenshots

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 month

Dept of ed wants borrowers to sign up for SAVE bc they will immediately pause payments and interest for an indefinite period. But only if you’re on SAVE. Yet they’ve also taken down the online app so you can only do this via paper application. Can’t make this stuff up.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

Did you know a doctor with $400,000 of student debt could pay less on their student loans than a grocery store worker with $10,000 of student debt due to the student loan pause? Here's how: (1/9)

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

Pretend you earn $125,000 and your spouse also earns $125,000. You owe 30k of debt and have 4 kids. If you max out your 401k and HSA, your payment with New REPAYE will be $66 a month. Under existing REPAYE rules, you'd pay over $1,100 a month. NEW REPAYE IS A GAME CHANGER!

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

6. There's multiple 404 errors that make borrowers confused. The old consolidation page had a bad url. But instead of setting up a 301 redirect, it's been left as a dead page. Any 404 errors on old pages need to be redirected by the team that manages the FSA website.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

Hopefully Dept of Ed fixes these issues soon!

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

Going for #PSLF ? Optimize your Adjusted Gross Income (AGI). Minimize your taxable income w/ pre-tax contributions to get more PSLF forgiveness. Account types to reduce your AGI for PSLF: ✅ 403b ✅ 401k ✅ HSA ✅ 457 (can do in addition to 403b) ✅ Solo 401k ✅ Traditional IRA

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

Can’t believe we haven’t had an announcement on the student loan pause w 30 days to go

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

4 months

Wow the way I read this is if you sign up for SAVE ALL of your prior interest will be cancelled if you make less than 240k as a family , which 95 percent of people do. That’s a heck of an inducement to sign up for SAVE

President Joe Biden Outlines New Plans to Deliver Student Debt Relief to Over 30 Million Americans...

Today, Biden-Harris Administration leaders will fan out across the country as President Biden announces his Administration’s new plans to cancel student

www.whitehouse.gov

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

10 months

Want evidence that PSLF rules make no sense? Got an email from a doctor saying: "My employer says I'm not eligible for PSLF, but I see all the Medicaid patients that the non profit hospital I'm contracted with refuses to see." Can't make this stuff up

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

10 months

The servicers are putting everyone in forbearance because they can’t figure out how to calculate people’s payments.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

If you want to see why the student loan system is broken, take a look at the Sweet v. Cardona settlement. 150+ institutions are indirectly accused of defrauding their students, who are receiving cancellation as a remedy. But the Dept of Ed is STILL GIVING THOSE SCHOOLS MONEY!

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

Debt activists are making a huge deal of what tuition cost back when reps went to school vs what it cost now. But why did it soar so much? No one is asking. No one wants to regulate schools and say if you get federal loans then maybe you shouldn’t be able to charge 60k per year

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

This is a disaster for ffel borrowers. How could Ed shirk it’s responsibility to provide guidance, causing millions to not apply yet, then pull the rug out from them. I’m pissed

Michael Stratford

@mstratford

2 years

NEWS: Biden admin is scaling back part of its student debt relief program over concerns about legal risk from student loan industry. In reversal, Ed Dept says borrowers w/ federal loans held by private lenders no longer have path to receive relief.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

Breaking from @FAFSA “You won’t be required to recertify before payments restart, and the earliest you could be required to recertify is March 2023.” By the time they start pmts, some may not have certified their income in 4 or 5 years

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

If President Biden can change the terms of REPAYE which borrowers have already signed up for, legally why couldn’t a future Republican President alter REPAYE to 30 years and 20 percent of income? I think a new plan would’ve been safer. This could open up problems later

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

It seems like the White House might be ready to extend the student loan pause again even without a national emergency declaration if they lose the debt cancellation case. The Solicitor General left the door open to this today.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

Mohela seems to have randomly decided to tell parent borrowers who have consolidated more than once that they are not eligible for idr options, which is not what § 685.209 (a)(1)(ii) says. The Prosper Act tried to shut this loophole and it failed. So Mohela needs to stop.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

Borrowers over 62 accounted for 4 percent of student debt in 2017. Now the over 62 crowd accounts for 8 percent of all student debt. Seniors are the fastest growing student debt borrower demographic

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

Basically the Dept of Ed announced today that they plan to use the idr waiver to extend the pslf waiver for consolidations made until May 1. This extends the pslf waiver effectively without formally extending it

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

NEWS: The Supreme Court will review the legality of Biden's student-debt relief plan. The justices will hear oral arguments in February w/ “a decision soon to follow” whether the Biden administration overstepped its authority. Borrowers will know once and for all what to expect.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

@caliredandgreen

How Moving Overseas to Avoid Student Loans Can Help You

Thinking about moving overseas to avoid student loans? Here's what you need to know about this little-known loophole.

www.studentloanplanner.com

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

Just got a note that a client of ours got over $500,000 forgiven from the IDR waiver today!

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

Biden is Gandalf the White of student loans. He’s writing the most generous IDR plan ever, made the idr / pslf waivers happen, expanding pslf, and discharging a bunch of debt for disabled + borrower def. If he loses on cancellation, he’s still kicked the GOPs butt on this issue

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

I think we know when your first student loan payment will be due because of language in the debt ceiling bill. Here’s what you should know:

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

4 years

@mstratford @usedgov From a legal perspective does that mean these suspended payments would count towards PSLF and other forgiveness programs? There seems to be consensus that the Sec of Education can do this bc of a declaration of emergency, but I don't see a clear power for forgiveness credit

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

The Dept of Ed is being WAY more generous w the IDR waiver than anyone realizes. It will mean millions will get HUNDREDS OF BILLIONS in cancellation if they take the appropriate action. See below why. First, borrowers who meet the 12/36 forbearance and deferment rule will have

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

10 months

If I had to guess, I think we might see some sort of bold program to “cancel all interest above the principal balance”. Problem is this couldn’t happen until July 2025 bc of neg reg rules. So it would essentially be a campaign plank to run on that wouldn’t happen if GOP wins ‘24

Michael Stratford

@mstratford

10 months

Biden today singled out one category of borrowers he's considering making eligible for his next student debt relief program: “There are many borrowers who have made payments for many years -- but because of interest, they still owe more than they originally borrowed.”

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

8 months

NEWS: On December 18, 2023, the Biden administration announced that the #IDRwaiver period is extended until April 30, 2024.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

Just had a client w 20k of his own loans that he had 10 years pslf credit for who consolidated their 300k+ parent plus loans get the whole thing forgiven. Pslf and idr waivers are real and ppl don’t understand their power!!

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

7 months

If you applied for the SAVE plan right now, you would probably get put in an administrative forbearance where you don’t have to pay any interest bc the servicers are so overwhelmed.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

13 days

Dept of Ed is confirming that the admin forbearance during the SAVE litigation will NOT count for PSLF or IDR. I think this is bc the entire final rule that SAVE was in is on pause, which also would mean weighted avg consolidation might be on hold too.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

No student loan decision today. Maybe next Thursday

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

Under the IDR Waiver, a borrower could have taken out a $2,000 loan from 1995, and as long as that loan has stuck around until now, they could consolidate it with $400,000 of grad school loans from 2020 and the whole thing would be forgiven. That's how powerful this waiver is

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

The next time the Republicans hold the White House and Congress, expect -capped PSLF -taxation of student loan forgiveness -elimination of REPAYE, PAYE, Biden IDR (likely for new borrowers only) -elimination of PLUS loans -borrower defense applied to not for profit schools

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

5 months

🚨 IDR Recertification Pause Extended More info here:

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

Especially if you graduated college before 2010 and have more than $50,000 of student loans, the IDR and PSLF waivers might completely change your life. More ppl can qualify than just pre 2010 grads btw. And most ppl still have no idea what im talking about so we have to shout it

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

Here’s what the Texas lawsuit blocking student loan cancellation means and what could happen next. And if you like this update, subscribe to get free weekly updates via the newsletter: #StudentLoans

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

Wait WHAT!?!?!?!?!!? The Dept of Ed is NOT proposing to change the forgiveness timeline for graduate degree borrowers to 20 years down from 25 years. page 72

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

Payments restart in 38 days. This is the shortest period between an announcement of a pause extension we've seen yet. Feels like they must be working on a big executive order or dealing with internal arguments over what to do

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

3 years

I’m seeing A TON of ppl getting pslf forgiveness tonight through the limited waiver. Login to your FedLoan account especially if you’ve been fighting to get credit under tepslf. Your loans might be gone and you might not even realize it yet.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

Merry Christmas Eve!

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

Under new proposed regs, Kaiser Permanente doctors and others working for non qualifying employers in Texas and California could now qualify for PSLF. That’s a big deal

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

10 months

There’s a backdoor extension of the SL pause going on right now. If your pmt is incorrectly calculated, you can be put into administrative forbearance by your servicer, pay 0, and have it counted towards loan forgiveness. Congress would literally make money by paying servicers

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

6 months

We're seeing a huge number of borrowers with pre-March 1 IDR recertification dates being asked by @MOHELA to recertify incomes, which is in direct contradiction to guidance from @FAFSA , @UnderSecKvaal would be great if Ed could ask them about this

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

You need to be ready to make student loan payments again on Jan 2022: not true Jan 2023: not true Aug 2023: probably also not true The Supreme Court is probably going to be the one to restart payments if they restart before 2024

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

One thing President Biden did get borrowers is another year without any student loan pmts or interest. Cancellation gave him a reason to continue the pause. That's not as impactful as cancellation, but Biden has gotten more student loan relief through than any previous POTUS

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

Judge in the SoFi case issues joint motion. Makes no mention of when oral arguments would be. With plaintiff reply due in late June this means the pause is safe until at least July. Probably longer.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

10 months

Servicers are putting perhaps a majority of all borrowers on income based repayment into an administrative forbearance for $0 a month right now, in some cases until August 2024. These periods count towards IDR and PSLF

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

With this student debt cancellation lawsuit, I’m stunned the state AGs are so unaware of the pslf and idr waiver. It’s like they don’t understand student loans at all

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

What would happen if the idr acct adjustment was blocked? Millions of ppl have consolidated already bc of it. Their credit would be wiped away and they’d start at 0. Many borrowers would counter sue. Dept of Ed has no money to do anything. The waiver came out April 2022. Why now?

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

The PSLF waiver so far has resulted in 26 billion forgiven out of 145 billion+ that's eligible, and that's WITH the forbearance deferment counting for the IDR waiver. That stat is not encouraging in terms of thinking about how things will go when payments restart.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

3 years

About 70,000 borrowers have received PSLF so far. That's more than triple the expected number when the administration announced the PSLF waiver, and there will be many many more. Let folks know about this opportunity.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

9 months

No one knows how many people are on administrative forbearance right now. Feels like this should be public info

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

My grandfather Dennis Weiskopf was killed in action bombing the Nazis over Europe in 1945. He had met the 25 missions milestone and could have gone home but he opted to stay to not let his fellow airmen down. My dad never got to meet him but his legacy lives on #MemorialDay

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

9 months

A majority of borrowers using President Biden's new IDR plan are paying $0 a month and have 0 interest. That's pretty stunning

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

3 years

I’m seeing A LOT of screenshots w huge amounts being forgiven through PSLF today. If you’re doubting the program, don’t.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

Reminder that now that the debt ceiling bill is restarting repayments, YOU STILL NEED TO PAY ATTN TO THE IDR WAIVER!!! Many ppl could consolidate and have everything cancelled!

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

On student loans I think Biden wins big w the debt ceiling bill. He gets to blame Republicans instead of SoFi for ending the pause. He keeps New IDR and the waivers and keeps the power to pause in future. He also gets to make scotus a double villain for 2024

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

4 months

Based on what I’ve read so far, President Bidens new cancellation program could potentially cancel more than $1 trillion. It’s at least double his initial proposal

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

Improtant point about the Covid public health emergency ending in terms of student loan impact: when / if it does, the President will not be able to extend the student loan pause beyond the current one, even if the Administration loses at the Supreme Court

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

13 days

Confirmed that admin forbearance during SAVE lawsuit will NOT count for forgiveness.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

3 years

Just had a major university block my presentation to a student group on how to manage their student debt burden because they're upset at my company's editorial work broadcasting how expensive their school is. I guess they believe in academic freedom unless it hurts their $$$

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

1 year

New bipartisan bill proposes to eliminate the requirement that you currently be employed at a not for profit when receiving PSLF

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

We now have the largest incentive ever to not pay your student loans. Vanguard money market pays 4.2%. Student loans cost 0%. It’s currently profitable to take out debt you don’t need and put it in a savings account.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

5 months

The language "borrowers will not be asked to recertify IDR until late September 2024 at the earliest" means Dept of Ed will extend this and plans to not ask anyone to recertify until after the 2024 election to avoid borrowers getting higher payments

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

One stat that’s been lost in the student loan noise: the pslf waiver only had about a 10 to 15% take up rate. Over 100 billion could have been cancelled but borrowers didn’t know to apply

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

Sen. Whitehouse of RI introduces bill to reduce PSLF from 10 years to 5. This would need 60 votes, but if it ever did pass, the majority of new physicians would be able to pay less than $20,000 for med school bc they would only make IDR pmts in residency

Whitehouse, Merkley Introduce Bill to Simplify, Strengthen the Public Service Loan Forgiveness...

Washington, DC – Senators Sheldon Whitehouse (D-RI) and Jeff Merkley (D-OR) unveiled today the Simplifying and Strengthening PSLF Act, to streamline and improve the troubled federal program to help...

www.whitehouse.senate.gov

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

Check out this example of Modified REPAYE at work. 2 married dentists making $200,000 a year, one has 500k student debt, one has 0. If they file separate, it would cut their payments and interest by about 64%.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

2 years

Some HUGE updates on student loans right now. Starting July 1, 2023, many deferment and forbearance options will count for PSLF. Many interest capitalization events also go away. PLUS, we're currently waiting on a new IDR plan to be announced in the coming weeks

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

9 months

There’s huge new benefits from being placed into an administrative forbearance. Here’s how it might count as an extension of the student loan pause. Watch ⤵️

Travis Hornsby, CFA, CFP®

@StudentLoanTrav

9 months

From what I can tell, the majority of borrowers at MOHELA right now are paying 0 a month with 0 interest accruing bc MOHELA can't calculate what people owe, so they're putting ppl into admin forbearance, which Dept of Ed is treating like a SL pause extension

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