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Student Loan Planner Review: Expert Help for Student Loan Debt

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Student Loan PlannerStudent Loan Planner

If you have had to pay for medical school, pharmacy school, law school, or graduate school, then you know that student loan debt climbs very quickly for people who pursue these paths.

It’s not uncommon to meet a medical resident or new pharmacy graduate who has at least $250,000 in student loan debt.

With such high amounts of debt — and usually, high interest rates — the answer to paying off debt is not simple.

What’s someone with over six figures in student loan debt to do? Should you pursue student loan forgiveness? Should you refinance your loans? Can you save money on your loans even if you’re a high earner? How about your tax situation? How will that factor into your journey to debt freedom?

What if you could get someone to look closely at your numbers and give you a plan tailored to your specific situation? That’s what Student Loan Planner — a consulting service to help people in the exact situation I’ve described above — does. They help people come up with a plan to get out of debt faster. And as they say on their website, “Ditch Your Student Loan Anxiety For Good.”

Today’s post is a review of Student Loan Planner and whether or not using this consulting service will be good for you.


Student Loan Planner LogoStudent Loan Planner LogoStudent Loan Planner Logo

Quick Summary

  • CFA and CFP financial advisors that are student loan debt experts
  • Focused on designing a holistic plan for eliminating student loan debt
  • $395 to $595 depending on level of student loan debt

About Student Loan Planner and Reviews

Student Loan Planner was founded by Travis Hornsby (Editor’s Note: See his and his team’s credentials here). He started the service in 2016 after he helped his wife and her friends figure out how to get rid of their six-figure student loan debts.

According to the Student Loan Planner website, Travis and his team of credentialed professionals have worked with 8,300+ professionals. Student Loan Planner estimates that they have helped their clients save a projected $156 million.

Student Loan Planner currently has 333 reviews on Shopper Approved with 96% of users rating them at 5 out of 5. 

So how can you work with Student Loan Planner and what will you get out of the experience?

Who Is This Service For?

Student Loan Planner can help you regardless of how much debt you owe. However, as I mentioned before, Student Loan Planner is especially helpful for people who have six-figure student loan debt amounts and/or have complex finances and repayment plan possibilities.

If pursuing a postgraduate degree in medicine, law, nursing, pharmacy, or any of those professions that are notorious for hefty debt has you anxious, you want to talk to the professionals at Student Loan Planner.

Because most of the professions listed above tend to be high-paying, a common misconception is that because they are high earners, they don’t qualify for any programs or avenues that reduce their student loan debt. This is not necessarily true.

Figuring out the details of what you might qualify for is daunting and time-consuming. Chances are you’re a busy professional and don’t have that type of time. And so, you spend years missing out on opportunities that could have gotten you out of debt faster.

This is where Student Loan Planner comes in handy. Because they’ve worked with so many people who have situations similar to yours, you can work with them to come up with the best plan for taking care of your debt.

On the Student Loan Planner website, they state that if you owe between $50,000 and $1 million, they can help you in one of two ways:

  1. They will create a custom student loan plan with details on how to get out of your debt.
  2. They will connect you with private lenders so you can refinance your loan at a lower interest rate.

How Much Does It Cost?

You book a consulting call with Student Loan Planner depending on how much debt you have:

  • For debt up to $200,000, the 1-hour consult is $395.
  • For debt between $200,000 and $400,000, the consult is a $495 investment an hour.
  • If you have more than $400,000 in student loan debt, the investment is $595 for the 1-hour consult.

Student Loan Planner sends out the invoices for their consulting service after the call.

My Thoughts

First of all, Travis Hornsby, the founder of Student Loan Planner, is well known in the personal finance community and had built up his credibility over the years. It’s kind of like knowing that local shop owner who has been in your community for years. He used to be a bond trader with Vanguard and he has a sharp financial mind.

So if I would recommend someone to consult with to get your high student loan debt down, I would recommend him and his team. 

With that being said, who benefits most from a consultation? While this isn’t all-encompassing, I’ve found that those who benefit most include:

  • Individuals in high earning professions that should balance debt repayment with investing and other goals
  • Small business owners who want to maximize their own retirement savings while paying the debt
  • Couples who need to tackle their loans together and weigh their options for repayment strategically

I’m sure there is more – but where Travis and his team specialize is in the complex situations.

I’m always on the lookout for the best services and products to help you win at your financial life. One of those services is Student Loan Planner. If you think a do-it-yourself option is better, check out LoanBuddy for DIY student loan help.

The post Student Loan Planner Review: Expert Help for Student Loan Debt appeared first on The College Investor.



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Finance

HDFC All Miles Credit Card Review

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HDFC All Miles Credit Card Rating
Reward Points                      ★★★              
Travel Benefits                     ★★
Annual Fee                           ★★
Offers & Discounts              ★★
 Additional Benefits            ★★★
Paisabazaar’s Rating           ★★★

HDFC All Miles Credit Card lets you earn reward points on every purchase you make. The accumulated points can then be converted to air miles, which can then be used to book flight tickets in the future. This card accelerates reward earning rate thereby facilitating redemption of rewards for air miles. If you are a frequent traveller, this card can be the right choice for you. Hence to make the decision a lot easier for you, we have given a detailed review of the card that will help to decide if this card suits your needs or not.

Key Highlights of HDFC All Miles Credit Card

  • Get 3 reward points for every Rs.150 spend
  • Earn 2X reward points on hotel bookings, mobile recharge and shopping
  • 1% fuel surcharge waiver on all fuel transactions
  • Avail up to 50 days interest-free period
  • Get revolving credit at a nominal interest rate
  • Avail zero liability on lost card
  • Get you annual fee waived off by spending Rs.15,000 within the first 90 days
  • Accidental death insurance cover of up to Rs.50 lakh

 

Earn Reward Points on every transaction

Save as you travel, shop, dine and more with the HDFC All Miles Credit Card. Here’s what you get with this card-

●3 reward points for every Rs.150 you spend
●2X reward points on hotel bookings, mobile recharge, shopping etc
●Double reward points on transactions made via All Miles website

All the eligible retail transactions let you earn reward points on every purchase made. In this way, you can surely earn rewards at a faster pace. All the accumulated points can then be redeemed and further converted to air miles for future bookings. It can be said that the card is indeed offering decent reward points when compared to other similar cards.

Read more about HDFC Bank Credit Card Reward Points

Fuel Benefits

With this card you can get 1% fuel surcharge waived off on all fuel transactions. For this-

  • Minimum transaction of Rs.400 is required
  • You can get a maximum cashback of Rs.500 per statement cycle

A majority of cards nowadays offer benefits of fuel surcharge waiver. However if you are exclusively looking for fuel benefits, you should look for other cards that prioritise fuel discounts.

Get your Annual Fee waived off

Just by spending Rs.15,000 within the first 90 days of your card opening, you can get your 1st year’s annual fee waived off. You have the option to renew your membership for free just by spending Rs.1 lakh in a year. This is one of the great benefits that this card provides you with.

Enjoy 50 days of interest-free credit

 With this card you can enjoy 50 days of interest-free credit period. However interest rate of 3.49% will be charged on any outstanding amount carried beyond the bill due date.

Avail zero lost card liability facility

If your card is missing or has been stolen, you need to immediately contact your bank’s customer care for card blocking. Once you report the issue, you will not be held responsible for any unauthorized or fraudulent transactions made using your card.

Is Rs.1000 Annual Fee Justified? 

Well it is true to say that if you compare the benefits that the card offers to other similar cards having the same annual fee, this card surely lacks behind. The reward points offered are good but fails to justify the Rs.1000 annual fee. However, for your reference we have listed below the other fees and charges related to this card.

Primary Features Fees / Charges
Annual Fee Rs.1000
Interest Rate 3.49% per month (41.88% p.a.)
Rewards redemption fee Rs.99 per request
Cash advance fee Rs.2.5% of the amount withdrawn subject to a minimum of Rs.500
Late Payment Charges Less than Rs.100: Nil

Rs.100 to Rs.500: 100

Rs.501 to Rs.5,000: Rs.500

Rs.5,001 to Rs.10,000: Rs.600

Rs.10,001 to Rs.25,000: Rs.800

Greater than Rs.25,000: Rs.950

Minimum repayment amount 5% of the outstanding balance or Rs.200, whichever is higher
Reissue of Credit Card Rs.100

Should you go for this card?

The first question that will come to your mind will be whether you should or should not opt for this card. Hence for your convenience, we have laid down certain points that might help you decide whether this card is the best choice for you. The card is best for you if-

  • You frequently book air tickets online
  • You are more inclined towards earning reward points than availing cashback
  • You are not looking for any category specific discount
  • You are not interested in putting major expenses on your card
  • You are not looking for any welcome bonuses

If the above listed points match your requirements, undoubtedly this card is best for you. If the card fails to match your needs, you can look for other similar rewards credit cards with more benefits and comparatively lower annual fee like American Express Membership Rewards, Citi Rewards Domestic and Standard Chartered Landmark Rewards

Limitations of HDFC All Miles Credit Card 

Although the card provides certain benefits to you in the form of reward points and air miles, there are certain drawbacks attached to it. Some of the limitations of this card are-

  1. The reward points are not that great as compared to other HDFC Credit Cards.
  2. The annual fee is not justified in terms of what all benefits the card provides.
  3. There are no discounts on entertainment, shopping or movies.
  4. If you are a shopaholic, this card is definitely not the one for you.
  5. The card does not offer any milestone reward.
  6. No lounge access is provided by the card.
  7. It does not provide any exclusive discount on air ticket bookings.

 

Bottom Line

Overall, this card is surely not amongst the best credit cards in the market. Although the card offers decent reward points, it still fails to justify the Rs.1000 annual fee. The card does fall behind to provide any category specific discount to you, however the air miles facility is an added advantage. You can surely go for this card if you are a frequent flyer however there are many cards that comparatively provide more benefits that too at the same annual fee.

The post HDFC All Miles Credit Card Review appeared first on Compare & Apply Loans & Credit Cards in India- Paisabazaar.com.



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Coronavirus Stimulus Check 2020 [how much you’ll get & who qualifies]

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(The following is a transcription from a video I recorded. Please excuse any typos or errors.)

Quick little update for you.

The Senate and the White House reached an agreement on this big stimulus bill, the Trump coronavirus stimulus check for 2020.

Let me share with you who will be eligible, how much you will get, what the qualifications are, and when you can expect to receive the stimulus check from the U.S. government.

And so if you haven’t heard about this, it’s pretty cool because you’re probably going to be getting a nice fat check from the government.

Here are the details that you need to know.

It is expected to be up to $1,200 per adult and $500 per child, which is pretty fun.

These amounts are based off of your 2018 tax returns if you haven’t filed 2019 tax returns yet.

Taking Your Income Level Into Consideration

And according to this article from the Los Angeles Times, the amount received will decline gradually beginning with individuals who make $75,000 a year or married couples who make $150,000 total each year.

Individuals making $99,000, or above or couples making $198,000, or above would receive no check.

Which looks like this:

And here is another helpful breakdown of how big your stimulus check will likely be:

When will you get your check?

Stimulus Check Timeframe

The fun thing about is they’re expected to be shipping within the next few weeks.

So that’s really cool. And you don’t normally see the government move this fast on things, but the stock market’s been doing fantastic the last two days as a result of the expectation of this thing coming through.

While I’m not really excited about the long term effects of the government giving away all this money, I know a lot of people who will be excited to get a little bit of cash in their pocket.

So that’s the latest update for the Trump coronavirus stimulus check for 2020!

Let us know in the comments below what you plan to do with this Trump stimulus check that you will hopefully be receiving soon!



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The Best Interest Rates for April 2020

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Finding the best interest rates is a lot easier today than it was even a few years ago. Here at Dough Roller, we track rates on everything from checking and savings accounts to mortgages to CDs. It occurred to me, however, that there was no one single page on the site where you could find the top rate for each type of account. So we created this page, updated monthly, to track the highest (or lowest) rates available.


Deal of the Day: CIT Bank has a 1.80% APY on their Money Market Account. $100 minimum deposit required and all deposits are FDIC insured up to the $250,000 per depositor maximum.

We focus on those financial institutions that have low fees, great rates, and are typically available anywhere in the U.S. You can find local banks and credit unions that offer comparable rates, but their availability is limited geographically.

Best Interest Rates for November 2019

November 2019 Interest Rates Update: There were a few rate changes over the past month:

  • Betterment Everyday™ Cash Reserve account is at 2.04% APY.
  • Wealthfront Brokerage Cash Account Rate is at 2.07% APY.
  • First Security Bank’s Kasasa Cash account is at 2.51% APY on balances up to $50k; their Kasasa Saver account is at 1.31% APY on balances up to $50k.
  • First Foundation Bank’s Online Savings Account offers 2.40% APY with $1k minimum deposit of new money.
  • BrioDirect is offering a High-Yield Savings account at 2.30% APY with $25 minimum deposit.
  • Vio Bank’s High Yield Online Savings account is at 2.27% APY with $100 minimum opening deposit.
  • Fitness Bank is offering a 2.75% APY savings account rate for balances over $100 when step requirements are met.
  • Prime Alliance Bank is offering a 60-month CD at 2.48% APY and a 48-month CD at 2.38% APY, both with $500 minimum deposit.
  • First National Bank of America is offering a 12-month CD at 2.35% APY and a 60-month CD at 2.55% APY, both with $1k minimum deposit.

The average 30-year fixed mortgage rate comes in at 3.78%.

With that said, here are some of the best interest rates we’ve found for November 2019:

Best Bank Account Rates

Best Interest Rates Pin 2Savings Accounts: The top savings account rate goes to Vio Bank at 2.27% APY ($100 minimum deposit) (see table below). Several banks come in a close second, including UFB Direct at 2.15% APY , Popular Direct at 2.15% APY ($5k minimum), CIT Savings Account at 2.10% APY ($100 monthly deposit or $25k minimum balance) and BMO Harris Bank Money Market Account at 2.05% APY ($5k minimum). These represent some of the highest rates on a nationally available savings account.

Here’s a comparison table we update daily with current competitive rates:

Best CD Rates: The rates on certificates of deposit vary based on the term. The longer the term, the higher the rate. Keep in mind that penalties may apply if you close the CD before the end of the term. For a 1-year CD, the best rate we could find is from First National Bank of America at 2.35% APY ($1k minimum).

Checking Accounts: Most checking accounts do not pay interest. For online banks, however, you’ll find plenty of options where you can earn some interest on your funds. There are two things to keep in mind. First, many banks offer higher interest rates only if you keep a lot of money in your checking account. Second, the rates are lower than a savings account or CD.

Some top paying checking accounts that we like include FNBO Direct, which currently pays 0.65% APY. For those with at least $15,000 in checking, you can earn 0.60% APY from Ally Bank. I list Ally second because most people don’t keep that much cash in checking, but it’s an option for those who do. These rates are unchanged from previous months.

Bonus: I also keep a running list of popular checking account promotions you can check out.

Mortgage Rates

Mortgages: Listing the “best” mortgage rate is really impossible. Rates change throughout the day, vary by state, and are highly dependent on a number of factors including your credit score, debt-to-income ratio, and down payment. That being said, the average rate for a 30-year fixed rate mortgage is up this month to 3.78% according to Freddie Mac (from 3.64% last month). The average rate on a 15-year fixed mortgage is up to 3.19% (from 3.16% a month ago).

You can find competitive mortgage and refinance rates at LendingTree or on the table below:

Related: Compare mortgage rates online

Best Credit Card Interest Rates

Credit Cards: The longest 0% introductory period stands at 15 months on both purchases and balance transfers. You can find a current list of the best 0% credit card offers here.

If you find better rates on any of the above financial products, please let us know in the comments below.

Note that the above rates were as of October 31, 2019. Rates are subject to change, so please confirm the rates directly with the financial institution.Find the best interest rates on bank accounts, mortgages, and credit cards as of %%currentdate%%. Includes rates on savings and checking accounts, and CDs.

The post The Best Interest Rates for April 2020 appeared first on The Dough Roller.



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