With the Supreme Court decision and the recent Debt Ceiling signing, student loan repayment will start after 3.5 years of non-payment. Many borrowers will be seeking advice that the student loan servicers cannot provide. The increased use of Income-Driven Repayment methods has added new complications to the repayment process. Borrowers will need to manage the AGI better and at a household level. These changes will require better tax and financial planning advice.
In addition, the IRS data integration into the Department of Education will begin mid-summer 2023. The systems specifically affected are student loan repayment and FAFSA. With this change, borrowers' planning will need to improve. At the borrower's next income verification or recertification, the system will automatically use the borrower's tax information on file. Another legislative change is the SECURE Act 2.0 approval. More companies will be adding or considering Student Loan Assistance Benefits.
This program features student loan expert Fred Amrein who will explain the details related to this decision that employers and employees need to know.
Learning Objectives: Attendees will learn how to properly plan for the student loan repayment restart based on the Supreme Courts Student Loan Forgiveness decision. The program’s learning objectives are:
• Understanding the Student Loan Repayment Restart Timeline
• Impact of IRS data integration and its relationship between taxes on file, IDR anniversary date, and beginning of Income Recertifications
• Explain the evaluation process of implementing a Student Loan Assistance Benefit and the role of the financial advisor.
*CE/CPE Eligible: 1 CE credit is available to subscribers with these designations: CFP, CLU, ChFC and RICP. CPA subscribers will earn 1 CPE credits.
Field of Study: Specialized Knowledge
Prerequisites: There are no prerequisites for this session.
Advanced Preparation: None
Program Level: Basic
Delivery Method: Group Internet Based
NASBA Approved
Financial Experts Network (Sponsor Id#: 145173) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.