84: Education and Student Loan Survival

Education has become less affordable in recent years leading many to take out student loans. Unfortunately, new borrowers often find it challenging to navigate the complex processes surrounding student loans and payments.

What information do borrowers need to make wise student loan decisions?

On today's episode of the Taxgirl podcast, Kelly is joined by Bobby Matson to talk about student loan debt. Bobby is the CEO of Payitoff, which provides technology solutions for producing positive financial outcomes for student loan borrowers. It was founded with the goals of streamlining the complicated student loan system and saving borrowers money.

Listen to Kelly and Bobby discuss student loans:

• How can technology solutions like apps and platforms help borrowers with the student loan borrowing and payment processes?
• Kelly speaks on her own student loan debt experiences and the confusion borrows face with complex processes like repayment rules, loan levels, and payment options.
• How can the topic of student loans be broken down in a way that is understandable to the people who have to pay them?
• Kelly and Bobby speak about the interest deductions that borrowers can get on their taxes for having student loans and the qualifications involved.
• Why is it important, and why can it be helpful to have conversations and educate students about student loan options?
• There are few options available that provide simple assistance with loan repayment, as the system is complex. Bobby explains why software offered by his company can help connect people with better repayment methods.
• Many people must choose which debts to repay before others when it comes to repayment. How does the emotional component of debt impact people's repayment decisions? How does the stigma around borrowing affect the way people discuss and treat and discuss their debt?
• Kelly and Bobby discuss student loan forgiveness and the Department of Education's targeted relief programs for loan borrowers.
• How could access to information about loans and payment programs help people make better economic decisions?

More about Kelly:

Kelly is the creator and host of the Taxgirl podcast series. Kelly is a practicing tax attorney with considerable experience and knowledge. She works with taxpayers like you every day. One of the things that she does is help folks out of tax jams, and hopefully, keep others from getting into them.

You can find out more about Kelly here and you can follow her on Twitter, Facebook, Instagram, and Linkedin.

To subscribe to the podcast (it’s free!) using Apple, Spotify, or your favorite listening app, click here.

Links mentioned:

Kelly’s Website – Taxgirl

Bobby’s Twitter – @bomatson

Payitoff Twitter – @payitoffapp

Payitoff LinkedIn – LinkedIn