The Truth About Student Loan Forgiveness w/Travis Hornsby

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Notable Notes:
We get into the nitty gritty with Travis on all things student loan forgiveness, and some bonus material! Here's some of the big topics and questions we were able to cover:
What do you do at Student Loan Planner and how did you get into this?

What are the main types of federal student loan forgiveness and how do they differ?

-Highlights: There's the Public Service Loan Forgiveness (PSLF) program which has lots of rules and directions to follow and requires 120 monthly payments prior to forgiveness. This program is available to roughly 25% of the workforce.
Key Tip on this one: Know what's in your promisory note!
All other loan forgiveness programs are income driven forgiveness, which requires you have made payments 20-25 years prior AND you get taxed on this
What are some first steps people can take in tackling student loans?
-Build up an emergency fund
-Avoid credit card debt at all costs!
-Sign into Studentloans.gov - consolidate loans and get signed up for 'revised pay as you earn'
-Consider refinancing; more on that option here
-Lower Housing and Transportation costs - listen to more about this on our previous podcast episodes:
Housing Hacks
Save Money on Car Expenses
For those trying for PSLF specifically but any loan forgiveness, what are some things they should be aware of?
Questions from the Community:
Brooke asks about working for a contract company at a school full time - would this qualify?

Jennifer struggles with working at a PSLF qualified place but knowing she could make more elsewhere. How can she figure out what’s the better route?

More on "How to Flee the Country"...because of student loans
What are some of the lesser known forgiveness programs and how can people find out of they qualify for something better than PSLF?
-NHSC
-Perkins loan cancellation
-State Specific Loan Forgiveness Program Info
BILL OF THE WEEK - Thank you Travis for also sharing your bill with us! Tracking money can be vital to avoid losing money!
If you want to submit your bill of the week visit frugalfriendspodcast.com/bill to leave us a bill
Lightning Round
We got to discuss with Travis some alternative options in loan repayment for those not pursuing forgiveness. AND Travis shares a bit on his travels and some of his favorite places he's been (spoiler: La Viv, and Kiev!)
If you want more from Travis check out his website at: https://www.studentloanplanner.com/
If you are interested in getting rid of your student loan debt and need help contact help@studentloanplanner.com to get in touch with one of Student Loan Planner's CFP's!
AND here's a link to work with a team on creating a student loan plan
Frugal Friends Book Club:
It’s April and we’re reading Think and Grow Rich by Napoleon Hill
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Thanks for listening! See you next week!