With the student loan pause coming to an end and a new repayment plan announced, we wanted to answer your questions. And who better to help us break down the new Student Loan SAVE plan than Ryan Law.
Ryan H. Law is an award-winning educator who teaches in the Personal Financial Planning program at Utah Valley University. He’s a Certified Financial Planner, an Accredited Financial Counselor®, past President of the AFCPE Board of Directors, and also a leading expert in student loans.
In today’s episode we discuss the benefits of the SAVE plan, how financial professionals can support their clients during this time, and 5 things we need to do now.
1:41 Why repayments may return
2:24 The current student loan landscape
6:45 How to best support your clients with these changes
8:27 Who is best suited for the SAVE loans
9:24 Borrowers and calling their providers
10:47 Ryan’s recommended payment calculators
11:03 Benefits to switching to SAVE plan
11:52 Interest accumulation & rollover
13:26 Other elements of this plan to be aware of
13:59 Student loan forgiveness
14:43 The PSLF program
16:12 Budgeting for payments again
19:09 Other resources to look for
24:30 Ryan’s 2 cents for clients
Show Note Links:
RyanHLaw.com | Student Loans