“Following the economic stimulus response to the Covid-19 pandemic, many business owners rely on their tax & accounting firms to help them with PPP loan forgiveness,” said Frans Klaassen, EVP and General Manager for Canada and Research & Learning, US at Wolters Kluwer Tax & Accounting North America. Wolters Kluwer selected the PPP loan forgiveness estimator from Paychex to provide an integrated online research solution through which tax & accounting professionals can access critical PPP loan forgiveness data to support their business clients as they continue to navigate the complex and changing guidelines for the PPP loan process. , a leading provider of HR, payroll, benefits, and insurance solutions. If you have comments on the tool or want to learn more about how I help craft student loan strategies, contact me directly.Wolters Kluwer Tax & Accounting has announced that users of its CCH AnswerConnect online research platform now have access to a Paycheck Protection Program (PPP) loan forgiveness estimator developed by Paychex, Inc. If that's you, please share it on social media and with your professional networks, if you find it useful. Many borrowers will use this tool and not ever contact me for help, and I'm cool with that. Check out what Student Loan Planner® clients are saying by reading our reviews. Probably the most common amount of savings I find over 20-25 years is about $50,000. In contrast, the cost of a consult is $595 for new clients and $495 for existing clients. Additionally, the savings I find varies widely, from $0 to over $300,000. Wondering what Student Loan Planner® can do for you? The average savings I find over the life of the loan payback period is over $80,000 per person. Additionally, it doesn't affect the interest rate they offer. So you should definitely check it out. You won't get them at all if you visit the lender websites directly. Want to check refinancing interest rates? Check out these awesome refinancing bonuses available to Student Loan Planner® readers and clients. I highly suggest you look into it if you owe less than twice your income. That result is unusual, but I see folks all the time who save thousands in interest payments by refinancing their loans. One time I even had a client who dropped her rate from 13% to under 3%. Even so, that's totally worth it if you're cutting your interest rate by 1%-3%. If you decide to go through with the refinancing, then your score takes a temporary hit. I suggest checking at several companies, as you never know who will show up with the best interest rates to refinance your college costs. Moreover, it only takes as little as a couple of minutes. You can check your rate without affecting your credit score. How Does the Process Work and What are the Companies You Suggest? Of course, consider the potential downsides of refinancing federal student loans before making a decision. If you decide to refinance your loan amount after using this tool, I really appreciate it! You help me out a lot by supporting this site and keeping this tool free for others to use. You'll get anywhere from $100-$750 AND a lower interest rate (which is the only reason to refinance student loans, of course). I think it's better for the reader and client to split it with you. Many personal finance blogs and student loan-focused websites embed referral links and take all of the referral bonus for themselves. Lowest rates displayed with an autopay discount of 0.25%. Note that if you refinance $100,000 or more, $500 of the $1,000 bonus comes directly from Student Loan Planner®. Get up to a $1,000 bonus when you use our Splash Financial link to apply and refinance. Their site provides one of the best user experiences, and you can get a rough estimate of how good your rate will be in the market as a whole by applying with them. Splash searches multiple lenders at once and provides a rate estimate very quickly. Hence, you'd make $130,000 for this “in-between” year. For half the year, you'd make a resident income of $60,000, but the other half the year, you'd make an attending income of $200,000. You'll finish your residency in July 2024. Pretend you're a resident physician making $60,000 for the next four years. You'd also like a calculation to know if you should refinance your student loan debt. You know what you're paying now, but you'd probably like to know what you could be paying in five years too. Predict Your New REPAYE / SAVE Monthly Payment vs. You can also compare PSLF to non-PSLF forgiveness options, to review how loan terms like monthly payment amount, repayment term length, interest rate and state of residence will result in the long term. New Revised Pay As You Earn (REPAYE), which will also be called the SAVE Plan (Saving on a Valuable Education).Here are the payment plans that you can model with the REPAYE and student loan forgiveness calculator above.
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