THE SUNLIGHT TAX BLOG:
Tax and Money Education for Creative People, Freelancers and Solopreneurs
search A TOPIC
Categories
- Business Management 17
- Creative Specific 3
- Estimated Quarterly Taxes 5
- General Economy; Tax Policy and Legislation 40
- Get to know Hannah Cole 8
- Interviews and personal stories 26
- Personal Finance 20
- Personal and Career Development 18
- Practical and Tactical Tax 54
- Retirement and Future Success 27
- Sunlight Podcast 149
- Tax Deductions for Freelancers and Self-Employed 7
- the Sunlight Tax Podcast 15
Student Loan Updates: Borrowing Limits and Repayment Plans Under the New Tax Bill
Listen and Subscribe Here
I’m diving into the One Big Beautiful Bill Act and how it impacts student loan borrowers. This new legislation introduces changes to borrowing limits, updates to repayment plans, and raises important questions for legacy borrowers still managing older loans.
If you’ve been wondering how these updates affect your education financing or what steps you should take to prepare, you’re in the right place. My goal is to provide clear explanations and practical resources so you can confidently navigate the new student loan rules under this tax law.
Listen and Subscribe Here
I’m diving into the One Big Beautiful Bill Act and how it impacts student loan borrowers. This new legislation introduces changes to borrowing limits, updates to repayment plans, and raises important questions for legacy borrowers still managing older loans.
If you’ve been wondering how these updates affect your education financing or what steps you should take to prepare, you’re in the right place. My goal is to provide clear explanations and practical resources so you can confidently navigate the new student loan rules under this tax law.
Also mentioned in today’s episode:
01:00 Introduction to the One Big Beautiful Bill Act
06:42 New Borrowing Caps and Repayment Plans
13:31 Navigating Legacy Borrower Challenges
Takeaways
The One Big Beautiful Bill Act is significant legislation to focus on.
New student loan borrowers will have only two repayment options after July 2026.
The SAVE program is ending, impacting many borrowers.
New lifetime caps on borrowing for education will be implemented.
Half a million borrowers may see increased payments due to changes.
Low and middle-income students may struggle with graduate school costs.
The RAP plan offers more flexible repayment options for borrowers.
It's crucial to stay informed through reliable resources and articles.
Navigating student loans requires careful consideration and action.
If you enjoyed this episode, please rate, review and share it!
Every review makes a difference by telling Apple or Spotify to show the Sunlight Tax podcast to new audiences.
Other Sunlight Tax podcast episodes about OBBBA:
Unpacking Trump’s New Tax Law: What You Need to Know About the One Big Beautiful Bill Act
Breaking Down Trump’s New Tax Law: Cars, New Loan Interest Deduction, and Expiring Energy Credits
New Tax Bill: No Tax on Tips, No Tax on Overtime, and New Deduction for Seniors
Links:
Help article by Tara Siegel Bernard from the New York Times
This article on the NPR website, by Cory Turner
Link to pre-order my book, Taxes for Humans: Simplify Your Taxes and Change the World When You’re Self-Employed.
Link to pre-order my workbook, Taxes for Humans: The Workbook
Get your free visual guide to tax deductions
Unpacking Trump’s New Tax Law: What You Need to Know About the One Big Beautiful Bill Act
Listen and Subscribe Here
In this episode of the Sunlight Tax podcast, I talk about Trump’s new tax law, officially called the “One Big Beautiful Tax Bill.” I break down its key points, how it impacts different income groups, the updates to clean energy tax credits, and what it means for self-employed people and freelancers.
I also emphasize why it’s so important to understand tax laws, and I encourage you to share this information with anyone who might benefit from it.
Listen and Subscribe Here
In this episode of the Sunlight Tax podcast, I talk about Trump’s new tax law, officially called the “One Big Beautiful Tax Bill.” I break down its key points, how it impacts different income groups, the updates to clean energy tax credits, and what it means for self-employed people and freelancers.
I also emphasize why it’s so important to understand tax laws, and I encourage you to share this information with anyone who might benefit from it.
Also mentioned in this episode:
01:00 Introduction to the New Tax Bill
04:13 Overview of the Tax Bill's Key Points
11:49 Impacts on Low-Income and Wealthy Households
18:55 Changes to Environmental Credits and Clean Energy
19:50 Implications for Self-Employed and Freelancers
Takeaways
The new tax bill is officially called the 'one big beautiful tax bill.'
I aim to provide clear, fact-checked information about tax laws.
The bill extends provisions from the Tax Cuts and Jobs Act of 2017.
It is expected to increase the federal deficit by $3 to $4 trillion.
The bill primarily benefits households with incomes over $500,000.
Medicaid cuts are expected to save $900 billion.
The child tax credit has been increased from $2,000 to $2,200.
Many environmental tax credits from the Inflation Reduction Act have been eliminated.
Self-employed individuals will maintain the qualified business income deduction.
If you enjoyed this episode, please rate, review and share it!
Every review makes a difference by telling Apple or Spotify to show the Sunlight Tax podcast to new audiences.
Other Sunlight Tax podcast episodes about OBBBA:
Breaking Down Trump’s New Tax Law: Cars, New Loan Interest Deduction, and Expiring Energy Credits
New Tax Bill: No Tax on Tips, No Tax on Overtime, and New Deduction for Seniors
New Tax Bill: Student Loans: New borrowing limits, changes to repayment plans
Links:
Link to pre-order my book, Taxes for Humans: Simplify Your Taxes and Change the World When You’re Self-Employed.
Link to pre-order my workbook, Taxes for Humans: The Workbook
Get your free visual guide to tax deductions
What are your money concerns?
Suggest a blog topic for Hannah here.