Student Loans: Income-Driven Repayment in under 40mins
3.5 (1 rating)
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Student Loans: Income-Driven Repayment in under 40mins

Know Your Options! And make better decisions
3.5 (1 rating)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
1 student enrolled
Last updated 2/2017
English
Curiosity Sale
Current price: $10 Original price: $30 Discount: 67% off
30-Day Money-Back Guarantee
Includes:
  • 40 mins on-demand video
  • 1 Supplemental Resource
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • Know how the 9 major repayment options are calculated
  • Know how income-driven loan forgiveness is calculated
  • The pros and cons of each repayment plan
  • How income driven repayment plans can affect tax filing
View Curriculum
Requirements
  • Basic Math
  • Ideally but not mandatory, the basic types of federal student loans
  • Ideally but not mandatory, loan basics
Description

Student loans are a bigger part of our lives. This class will give you the tools you need to make an informed student loan repayment decision.

You will come away from this course with a very good understanding of repayment options for student loans, especially income-driven repayment options. My approach is to go beyond the academic and talk about what the real world might look like. You will be treated like one of my clients. I will go through examples and let you know of pros and cons and where borrowers get into trouble.

You will be able to calculate your income-driven monthly payment and how your real world life might change that payment.Your will be better able to manage and plan for your student loans, so they interfere with your life as little as possible.

You will have a good idea of what loan forgiveness might look like with income driven repayment and what things to think about even before the debt is taken out. This opens up a lot of different options for clients and their families. 

Don’t be caught off-guard. Interest and compounding can be your greatest friend or your worst foe. Know your enemy. Know your options. 

Who is the target audience?
  • Gen X with kids going to college or recent college grads
  • Those with student loans thinking about income-driven repayment plans
  • Students entering college and thinking about taking on a large amount of student loans
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Curriculum For This Course
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Start Here
5 Lectures 40:06

Student loans are too big and too complex to ignore. You need to be prepared for the burden that is student loans. Income-based repayments are becoming our nation's answer to the student-loan crises. Know what you are getting into.

Preview 01:56

We will lay the groundwork for learning the details of income-driven repayment. We will go over what you will need to know as we work through income-driven basics. We will introduce the following repayment options, their history, and who they might be for: standard, graduated, extended graduated, income-contingent, income-based, new-income based, pay as you earn, and revised pay as you earn (IBR, ICR, PAYE, REPAY)

Preview 12:55

You will not be required to actually do calculations to learn how income-driven repayment options work, but we do go into some detailed numbers in a very palatable, easy-to-understand way. You will be able to calculate your monthly payment yourself by learning to calculate discretionary income. 

UdemyExample1
16:07

We will expose you to another example with a different borrower profile. You will know the pluses and minuses of the major income-driven options, including possible loan forgiveness. 

UdemyExample2
04:00

In this section we look at the different tax-filing options of IBR and how different filings might affect your repayment decision. We show how you might face a tradeoff between saving on taxes vs. reducing your monthly payment, among other considerations. 

UdemyExample3
05:08

10 Question Quiz

End-Of-Class Quiz
10 questions
About the Instructor
Mr. Mark Struthers, CFP® CFA
3.5 Average rating
1 Review
1 Student
1 Course
Fee-Only Planner

Mark has over 14 years experience in financial planning and investing. Mark specializes in helping Gen X parents prepare for and fund college; as a result, he has extensive experience advising on student loans. Mark has been published and quoted in major publications regarding education funding and student loans. Mark loves helping his clients succeed making the complex simple, to help them most of what they have. He hopes this class does the same for you.