I have made retirement planning my specialty, focusing in on the needs of educators and employees of non-profit organizations. Student loans are a problem for many educators when developing a retirement plan. The more I researched, the more I realized how complicated student loan repayment is. After listening to horror stories of incorrect payment plans, payments not credited, and the multiple lawsuits against loan servicers and 3rd party servicers, I decided to take on this problem.
When it comes to your student loans, there are many repayment options and several forgiveness plans. Follow our 3 step process and I can help you establish which plan is best for your situation.
Hypothetical Examples of Projected Loan Forgiveness
44-year-old teacher. Spouse stays at home with their four children.
- Current Monthly Loan Payment: $288.40 on a balance of $42,323 with 323 monthly payments left (27 years).
- New Loan Payment: $169.48 for only 120 more months (10 years)
- Projected Results: Lowered the monthly payment by $118.92, saved 203 months of payments and is projected to have over $50,000 forgiven!
30-year-old teacher with about $60,000 in loans. Just married a high-income earner.
- If they would have filed their taxes as married their loan payment would have went from $158.30 to around $1,000 a month. Working with their accountant and filing their taxes separately meant paying an extra $2,000 in taxes but saved $10,000 in loan payments. The projected net result is a savings of $8,000+ a year and to have $40,000+ of their loan balance forgiven.
How does it work?
- We will follow our 3 step process to take a dive deep into your student loans to find out if you are eligible for any of the student loan forgiveness programs and which ones (there are many) could help you. After the research into your specific situation, we will then guide you step-by-step through the application and annual follow up process.
How long does this take?
- Usually it requires an hour or two of your time and access to your student loan information.
The above case studies are designed to provide a general representation of the types of services provided. The studies are a hypothetical examples only and are not indicative of recommendations made to any specific client. There is no assurance that the techniques and strategies shown are suitable for all individuals or will yield positive outcomes.