A New Graduate’s Guide to Student Loan Strategies

Student Loan Planner

Are you staring at a mountain of student debt, unsure where to begin? Whether you’ve just tossed your graduation cap in the air or are in the early stages of your career, the key to regaining control lies in choosing a repayment plan that aligns with your financial goals and lifestyle.

Meredith Jones, CSLP®, AFC®, and Connor Pierce DPT, COMT, CMPT, CSLC®, guide you through the benefits of employer-sponsored loan repayment programs, the advantages and pitfalls of various income-driven repayment plans, and how to use these options to maintain financial flexibility.

They also discuss the nuances of integrating student loan management into your broader financial planning, ensuring that your debt doesn’t derail your career ambitions. Tune in to take charge of your student loans, potentially saving a significant amount of money and stress post-graduation.

In today’s episode, you'll find out:

• How your debt-to-income ratio can determine the best repayment strategy for your student loans
• About the tax implications of employer-provided student loan benefits and how they affect their actual value
• Why employer student loan benefits may require careful evaluation if you're aiming for loan forgiveness
• Why you don’t have to let student loans define your career path
• How contributions to pre-tax retirement accounts lower adjusted gross income and reduce student loan payments
• Differences between loan forgiveness timelines of PSLF, New IBR and the SAVE plan
• Why having a high debt-to-income ratio might make loan forgiveness more beneficial
• Risks and considerations when refinancing or using a cosigner for student loans
• How specific repayment plans can unlock interest subsidies and possibly achieve $0 payments
• How strategic loan consolidation could lead to debt freedom six months earlier
• Tips to navigate your graduation transition, including mandatory exit counseling

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Feeling helpless when it comes to your student loans?

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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!