Tax Extensions Can Lower Your Student Loan Payments

Timing your tax filing can mean serious savings on your monthly payments, especially if you're on an income-driven repayment (IDR) plan and aiming for forgiveness. We break down scenarios for when it makes sense to file right away, when to wait, and how married couples or borrowers with irregular income can play their cards for the biggest advantage.

If you've ever wondered how your AGI or recertification date could influence your student loan bills, this episode gives you straightforward strategies you can use right now.

Key moments:

(07:48) Why when you file your tax return directly affects your IDR payment amount

(10:59) Filing a tax extension is free, but if you owe taxes, you must pay by April 15

(18:13) When filing early (or on time) makes more sense than filing an extension

(21:39) SAVE borrowers can lock in the ideal recertification date by switching plans between April 15 and October 15

Like the show? There are several ways you can help!

• Follow on Apple Podcasts, Spotify or Amazon Music
• Leave an honest review on Apple Podcasts
• Subscribe to the newsletter
• Join SLP Insiders for student loan loopholes, SLP app and member community

Feeling helpless when it comes to your student loans?

• Try our free student loan calculator
• Check out our refinancing bonuses we negotiated
• Book your custom student loan plan
• Get profession-specific financial planning

Do you have a question about student loans? Leave us a voicemail here or email us at [e-mail] and we might feature it in an upcoming show!