In this episode of FIN LYT by EWA, Matt Blocki, Jamison Smith, and Chris Pavcic break down the world of student loans. Student loans are a topic that touch the lives of many, from anxious parents planning their child's education to graduates burdened with loan repayments.
Matt, Chris and Jamison split the conversation into two critical areas: strategic advice for parents navigating the funding of their child's college education, and financial planning for graduates saddled with school loans. They share stress tests to ensure financial planning remains in tact around significant commitments like purchasing a house.
Matt, Jamison, and Chris dive deep into the implications of carrying a student loan balance greater than one's expected income and outline strategies for repayment that align with financial success. They explore the nuances of federal versus private student loans, repayment plans, the potential of refinancing to secure more favorable terms and the Public Student Loan Forgiveness program especially considering recent policy changes. They share real-life stories of forgiveness and the impact on those dedicated to serving their communities through non-profit and government work.
Lastly, they tackle the complicated scenarios faced by married couples with student loans, providing insights on how to navigate repayments in a way that is both tax-efficient and conducive to long-term financial planning.
Whether you're a parent, a current or former student, or somewhere in between, this episode of FIN LYT offers valuable guidance and reassurance for those with student loans in their financial picture.
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