Good Financial Reads: Student Financial Aid: Everything You Want to Know From Applying to Forgiveness

2 min read
November 25, 2022

Student Financial Aid Everything You Want to Know From Applying to Forgiveness

Managing Student Loans When You're Over 50 - With Erik Kroll

by Grant Bledsoe, Three Oaks Wealth

Having outstanding student loans at the age of 50 versus earlier in your career will have a very different impact on your financial status. In today’s episode, we have a distinguished guest who specializes in helping people over the age of 50 to repay their student loans. Erik Kroll, Certified Financial Planner® and the owner of joins us to explain different strategies to manage your student loans, as well as how that approach changes with time. 

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What President Biden’s Student Loan Relief Plan Could Mean for You

by Financial Planning Fort Collins

For those who have been patiently waiting, news of President Biden’s student loan relief finally arrived on August 24. The debt forgiveness plan means that 20 million borrowers will no longer have a balance due.

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Filling Out The FAFSA Form

by Robert Stoll, Financial Design Studio, Inc.

In the previous getting started FAFSA resource, we walked you through the key reasons for filling out the 2023-2024 FAFSA form for your college student(s), and how getting an FSA ID is a key first step to fill out the FAFSA itself. If you’re planning on filling out the 2023-2024 FAFSA and haven’t gotten your FSA ID yet, make sure you visit the getting started FAFSA resource to see how to do that!

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Everything You Need to Know About Biden’s Student Debt Forgiveness

by Grant Bledsoe, Three Oaks Wealth

Last week, President Joe Biden announced a new student debt forgiveness that promises to cancel $10,000 of student debt for low- to middle-income borrowers. Since then, this topic has become somewhat controversial and has ignited a fair amount of debate online. This week on the podcast, Grant dives into the provisions of this new student debt forgiveness program, eligibility criteria, and some of the planning opportunities that have emerged from the program.

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Didn’t get Public Service Loan Forgiveness? Try Again!

by Craig Joncas, Penobscot Financial Advisors

Federal student loan programs have had forgiveness built-in for a while now, but forgiveness takes a long time.  The standard period for most loans to receive forgiveness is 20-25 years.  Standard payoff plans for federal student loans are 10-year paybacks, so these would obviously not be helpful.  However, there are a several “Income-Driven Repayment” (IDR) plans available that can extend payments for a much longer period.

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Following along with the blogs of financial advisors is a great way to access valuable, educational information about finance — and it doesn’t cost you a thing! Our financial planners love to share their knowledge and help everyone regardless of age or assets.