What President Biden Might Do to Student Loans
Play • 53 min

Each state is working to certify the official election results, but we have an apparent winner in President-Elect Joe Biden. Given the history of Obama-Biden student loan policies, it’s likely that we’ll see some progressive changes that could affect the future of student loans.

Here are seven things that a Biden administration may try to achieve, and my thoughts on how that could affect the treatment of student loan debt going forward.

In today’s episode, you'll find out:

  • What a Biden administration could mean for the future student loans
  • Why Biden might make applying for bankruptcy for student loans easier, and why it doesn’t matter
  • What forgiveness might look like under Biden’s plan for borrowers
  • What a compromised forgiveness expansion might look like
  • Why reducing IDR payments could be bad for everybody
  • How the REPAYE program was born and what that could mean for student loan reform
  • How increasing Pell Grants could be a big win for working class or lower-income families
  • Why eliminating the tax bomb likely won’t happen in the next 4 years
  • How making college free would cause the cost of tuition to skyrocket
  • Why I think Biden’s team grossly underestimated the cost of their student loan plan
  • Will Trump extend the student loan interest and payment freeze
  • When you should refinance your federal loans
  • Whether you should refinance even if your interest is 0%

 

Full show notes at: http://studentloanplanner.com/103

 

Like the show? There are several ways you can help!

 

Feeling helpless when it comes to your student loans?

The David Bach Show
The David Bach Show
David Bach
026: How & Why You Must Protect Yourself and Your Family
What do you need to do financially to protect yourself and your family? If you’ve followed me for any length of time, you’ve heard me talk about my 3-basket approach to financial planning. Basically, Grandma always said not to put all your eggs in one basket. Well, she was right. And this same principle applies to your finances too! Today specifically, I want to go over The Security Basket — which is all about protecting you and your family against the unexpected (such as a medical emergency, the death of a loved one, or the loss of a job.) In this episode, you’re going to be reminded why the security basket is so critical. I’m going to help you commit to getting financially organized and teach you the 4 things you must do to protect you and your family. Are you ready to make this the year that you finally fix your finances? Then don’t miss this episode! In this session, here’s what we cover: * The single most important piece of advice for making financial progress. * The importance of knowing your net worth. * What happens if you die without a will? HINT: BAD IDEA! * Why life insurance is critically important - and the fastest/cheapest policy you can buy to protect your family! * Setting up a security account to survive emergencies - and why you should have enough savings to cover at least 6 months of expenses. * The 100-day financial challenge that will push you to set up a security account that will be there when you need it most. * The reason I’m retiring soon, and how we can spend more time together this year. Your Invite to GrowthDay Coaching David Bach now offers his monthly coaching on GrowthDay, where you get David and a dozen other world-class personal growth teachers LIVE every month, all year long. CLICK HERE to get LIVE coaching from David and other experts for less than $1/day! Interview Resources * GrowthDay Coaching with David Bach * The Best Life Insurance Companies * Smart Women Finish Rich * Smart Couples Finish Rich * The 3 Minute Sunday Newsletter * The Latte Factor: Why You Don’t Have to Be Rich to Live Rich * 11 Ways to Improve Finances * The Best Life Insurance Companies * Personal Capital * Clarity Money App * Mint.com Get Access to More Great Content! To get access to the best financial tools, resources, and advice to help you LIVE RICH NOW, visit www.FinishRich.com Connect with David Bach * Instagram * Facebook * Twitter * YouTube
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