Student Loans

A focus of mine in financial planning is student loans. Recently, a few headlines regarding that subject got my attention, so I wanted to focus on this pervading element of many young adults and their financial situation today:

  • ReadStudent Loan Hero was founded in 2012 as an unbiased solution to organize, manage, and repay your student loans. As every student loan borrower is in a different financial situation and no “one size fits all” solution is possible, their goal is to help borrowers understand their student loans and make intelligent repayment decisions. This helpful article outlines their answers to 20 of the most googled questions regarding student loans. 
  • Listen: Joshua Sheats from Radical Personal Finance conducted two interviews with Jay Fleischman, a bankruptcy attorney who specializes in student loans. In Radical Strategies, they cover strategies for dealing with loans that will give flexibility with your repayment plans, what to do if you’re in default on a loan, and whether it’s possible to get out of a student loan with bankruptcy. In Here’s What You Need To Do, Joshua and Jay tackle the process of analysis. Jay gives a step-by-step action plan for what you need to do in order to analyze your options. 
  • Watch: This video from Market Watch, featuring Rohit Chopra, highlights a variety of ways to approach your student loans, including income-driven repayment plans, how to qualify for student loan forgiveness, graduated and extended repayment plans, and when to challenge your student loan company.

Services SpotlightLoan Buddy is a new financial technology platform with a focus on providing solutions for advisors who are student loan planning for their clients. It allows me to provide a better student loan analysis for clients. Current clients can ask about it at your next meeting!

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You can click on the links below to access this month’s resources. Thanks for reading, listening, and watching!

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