• Podcast,  Student Loans

    Let’s talk STUDENT LOANS with David Hessel, CSLP (Certified Student Loan Professional)!

    You’ve asked & we (finally) answered – let’s tackle student loans!

    According to the U.S. Department of Education, outstanding Student Loan Debt has now reached a staggering 1.56 TRILLION in 2020. Over 44 million Americans have outstanding student loans and the average debt per individual is $32,731 – WOAH!

    It’s time for us to Face The Fear of Student Loans – understand what they are, how they work, and find the best way to pay them off!

    Here’s a bigger view of David’s White Board

    To learn more about David Hessel, click here: www.davidhessel.com

    To get the details on student loan planning, click here: www.studentloanprofessional.com

    To get in touch with Face The Fear, email: facethefearfw@gmail.com

    Here is a summarized list of Q&As:

    1. “Do you need to be of a certain profession or in a certain field to utilize the extended or graduated programs while in the overall 10-year repayment plan?” Nope! Everyone with federal student loans has access to these, but there are many things to consider before jumping into one.

    2. “When does it make sense to put my student loans in deferment?” If you need to stop your payments, you do need to apply and be accepted for this. This is because interest will not accrue during this time period. You might do this if you become unemployed, if you have economic or medical hardship, etc. Interest will not accrue while in deferment

    3. “When does it make sense to put my student loans in forbearance?” You have a total of 3 years to be in forbearance. Remember, interest continues to accrue while you are not making payments. So really, this tends to make sense when you need a very short-term payment relief.

    4. “Can I use forbearance or deferment if I have private loans?” The unfortunate answer is no. You can speak with your lender and try to change the terms of your loan but the options available for federal loans are not available for private loans.

    5. “Can I spread the ‘tax hit’ when student loans are forgiven over time or is it all taxed as income in one year?” The short answer is that it is taxed in one year. However, when working with a CPA, depending on your situation, there are ways to strategize the taxation. When working with my clients, we calculate the anticipated tax amount and immediately set up a savings/investment bucket for those dollars over the course of their student loan repayment plan.

    6. “Can I be 3, 4, even 5 years into paying my student loans and still switch to a repayment plan?” Yes, you can do this at any time! It is a voluntary program, so you must reapply / show income every single year. If you do not reapply you will be automatically switched back to the 10-year plan. For my clients, we just set reminders every year, so we never forget. Thankfully, the Government has worked on their online submission process and applying is getting easier and easier.

    7. “For PSLF, do I need a specific type of qualified loan?” In short, to apply for PSLF you need 3 things: 1. You need to work for a qualified employer full time (talk with your HR rep or visit https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service#qualifying-employment) 2. You need to make 120 qualified payments (10 total years of payments) 3. Your loans need to be DIRECT loans. (These started after the year 2010, so anyone with loans prior to 2010 will usually need to do a direct consolidation)

    8. “If I have worked for a qualified employer while working towards PSLF and then switch to another employer that is not qualified, is there any sort of partial forgiveness of loans?” Unfortunately, the answer is no.

    9. “What has changed for my student loans with the CARES Act?” Start listening at 48:18

    Lastly, here’s a disclaimer: GVCM is an SEC Registered Investment Advisory firm, headquartered at N14W23833 Stone Ridge Drive, Suite 350, Waukesha, WI 53188. PH: 262.650.1030. David Hessel is an Investment Adviser Representative (“Adviser”) with GVCM. Additional information can be found at: https://www.adviserinfo.sec.gov/IAPD/Global View Capital Insurance, LTD. (GVCI) insurance services offered through ASH Brokerage and PKS Financial. David Hessel is an Insurance Agent of GVCI. Global View Capital Advisors, LTD is an affiliate of Global View Capital Management, LTD (GVCM).

  • Videos

    Face The Fear Coffee Chat #1

    Welcome to our first Face The Fear Coffee Chat! Nicole and I are now both working from home, so we decided to try a new “podcast” format. Join us as we chat about how life has changed over the last couple weeks and how we can stay mentally, physically, and financially healthy during our #selfquarantine. #StayHealthy #StayHappy #StayAtHome

    P.S. We apologize for the sound issues – we’ll get those fixed for the next Coffee Chat! Stay tuned for our next Coffee Chat! We’ll host a Zoom meeting for anyone to join. 🙂

    Small Businesses we LOVE:

    -Moxie Mavens Accessories – moxiemavensco.etsy.com

    -Kaula Marie Photography (Central Illinois) – www.kaulamarie.biz Kaula is a photographer who will be shooting Kaitlyn’s wedding in August! She has e-gift cards at 40% off available for purchase on her Facebook page! (www.facebook.com/pg/kaulamariephoto/posts/?ref=page_internal) Buy an e-gift card now and use it for family photos, engagement photos, wedding photos at any time (they never expire)!

    -Pollen and Pastry (Central Illinois) – https://www.pollenandpastry.com

    – Sassie Cakes (Fort Wayne, IN) – http://www.sassiecakes.com

    – HT2 Cocktails (Fort Wayne, IN) – www.ht2fw.com

    – Mi Pueblo (Fort Wayne, IN) – https://mipueblofortwayne.com

    – Col’s Place (Madison Heights, MI) – https://www.colsplace.com

    – The Office Coffee Shop (Royal Oak, MI) – https://www.theofficecoffeeshop.com

    Please share your favorite small businesses in the comments below so we can support them, too!

    Also, please comment below with your ideas of how to stay busy, have fun, and be happy while we #StayAtHome!

    Contact Us: facethefearfw@gmail.com

  • Videos,  Wedding

    Wedding Planning 101: Tips & Tricks to Slay your Special Day

    Join me (Kaitlyn) on the journey to planning our wedding! In this video, I share a few of the tips & tricks I’ve learned so far about how to find the best deals, reduce stress, and save time. Don’t forget to like & subscribe! Leave a comment down below if you want to see a part 2!

    Instagram

    Twitter

    YouTube

    Podcast: Face the Fear (on Apple Podcasts, Stitcher, Spotify, and Google Play)

    Contact Us: facethefearfw@gmail.com

  • Videos,  Wedding

    Our Story Q&A! We’re ENGAGED!

    Join us on our 22 hour road trip from Texas to Michigan! We answer all your questions about how we met, what challenges we have in our relationship, and how we’ll handle our finances as a newlywed couple.

    (Public Service Announcement: This video is LONG. So long, in fact, that we almost ran out of gas in the middle of nowhere Arkansas because we didn’t realize how long it would be. Miraculously, we made it to a gas station on fumes & somehow filled my 14-gallon tank with 16 gallons of fuel. We also conveniently grabbed lunch from the gas station Subway, where the lady, as she prepared our sandwiches, explained in graphic detail how she’d recently castrated her goat. All that to say, THANK YOU for watching this video. Our followers make it all worth it.)

    Instagram

    Twitter

    YouTube

    Podcast: Face the Fear (on Apple Podcasts, Stitcher, Spotify, and Google Play)

    Contact Us: facethefearfw@gmail.com