We are pleased to announce the launch of a new busines we are offering to The White Coat Investor community 😛 TAGEND
There is a serious need out there for high-quality student loan advice, so we have arranged for white coat investors to be able to meet with a developed student loan planner for a immediate advice discussion at a fair toll early in their career.
The Problem
I often find myself in the position of having to give sad information to someone late in residency or even well into their career. The bad news? That they have thrown away tens or even hundreds of thousands of dollars by mismanaging their student loans. Our student loan system, including information on the federal place, became very ridiculously involved with a crazy extent of options including four Income-Driven Repayment( IDR) platforms, five forgiveness programs, and all kinds of other options including deferment, leniency, combination, and refinancing into dozens of the different types of lends from dozens of fellowships. Each of these programs has its own regulations, subtleties, and aftermaths on everything from how you file your taxes to which types of retirement accounts you can contribute to. For countless physicians, an ounce of avoidance is worth a pound of medicine. Consider these classic mistakes and the amount of money that each misconception could expense a ordinary white hair investor 😛 TAGEND
Refinancing when you should have sought forgiveness( hundreds of thousands) Not play a part in an IDR( tens of thousands) Choosing the wrong IDR( tens of thousands) Mistakenly going into patience or deferment when prosecuting forgiveness( tens of thousands) Not refinancing( tens of thousands) Choosing the wrong expression or type of loan when refinancing( thousands)
Getting proper advice as you come out of medical or dental school, so you can avoid these mistakes, can certainly be very valuable.
Who Probably Does Not Need Student Loan Advice?
For many physicians, student credit conduct can be really simple. If “youre ever” single( or married to a non-earner) and think you might want to go for Public Service Loan Forgiveness down the road, your student lend conduct during residency is generally very simple 😛 TAGEND
Enrolled in REPAYE for your federal credits Refinance your private credits
Seriously, that’s it. Maybe there are a few subtleties there as to whether you contribute to a Roth 401( k) or a tax-deferred one, but it’s not much more complicated than that. When you leave residency, there is a bit of a decision to obligate, but it’s pretty straightforward. If you are going to be employed full-time by a 501( c )( 3 ), you should go for PSLF. If you are not( and have a acceptable obligation to income fraction ), then you are able to refinance your credits and pay them off abruptly by living like a resident.
You probably don’t need to pay for personalized student loan advice or coaching.
Who Probably Does Need Advice?
If you’re married to another earner or another borrower, or expect to marry soon, things get a lot more complicated. Peculiarly if you both have student loans. Even more so if one or both of you is considering a student loan forgiveness approach. There are a plethora of approaches available to you that vary by the state you are in, the type of loans “youve had”, your relative incomes and debt burdens, and your future jobs. In these situations, it is well worth spending a few hundred dollars to make sure you are doing it right.
Even if you are single, if you have a high student loan to expected future income ratio( let’s say> 1X ), it’s likely well worth your time and money to meet with StudentLoanAdvice.com.
Lots of parties really want to be sure they’re doing things right, even if their statu is not all that complicated. Meeting with StudentLoanAdvice.com can provide that reassurance.
What StudentLoanAdvice.com Does Not Do
StudentLoanAdvice.com is not going to be your long-term financial advisor. If you need help drafting an overall financing plan or coping your investments, we indicate you go to one of our recommended fiscal advisors. They are highly competent and, although expensive, they are fairly priced for the services they furnish. Expect to deplete between $2,000 and $15,000 a year. Some of them do give specialized student loan advice as part of their services, but most business advisors simply do not know the ins and outs of the federal student credit programs and associated approaches. Bear in mind there is nothing in the CFP( or even CFA) curriculum about student loans. Although not the case with most of our recommended advisors, the vast majority of fee-only fiscal advisors have little interest in patrons with a net worth of negative $300,000, few investable resources, and an income of just $60,000. Student Loan Advice doesn’t sell you guarantee or refinance your student credits either.
What StudentLoanAdvice.com Can Do for You!
Student Loan Advice is a business coaching service that, for a few hundred dollars, will had a meeting with you for about an hour and go over your personal student loan statu and help you to come up with a plan for optimizing your student lend conduct programme from now until the time your loans are paid off or forgiven. They will help you to run the numbers to decide between the various approaches available to you. In addition to the consultation, for six months after your consultation you can email your consultant as many questions as you miss about your student lend situation utterly for free. All for one flat price.
Andrew Paulson and his young family
Who Will I Meet With?
Andrew Paulson is a student lend consultant who has been associated with The White Coat Investor to co-found StudentLoanAdvice.com. Andrew is young enough to know what it is like to have real student lends hanging over your front, but knowledge enough to know his way around the financial world. He has a master’s in accounting and has depleted his occupation in the financial world. Most importantly, he has completed the Certified Student Loan Professional( r) curriculum. This is the industry standard for monetary advisors or coaches helping people with their student credit plans. He has already met with more student lend borrowers than the vast majority of CSLP( r) s out there. As StudentLoanAdvice.com flourishes, we are looking forward other consultants to join the team.
What Do Andrew’s Clients Say?
A radiology citizen 😛 TAGEND
Andrew explained in one hour what I have been trying to figure out for a long time. This was far more effective and higher harvest than any of the online monetary modules my academy speculated would be useful. My school should 100% be recommending White Coat Investor and StudentLoanAdvice.com to its students, and I hope they do so in the future.
I too recognized Andrew’s friendly demeanor and science in excuse what could be complex topics in a way that my bride and I understood. He is a great teacher, and it was especially helpful for us to see these concepts justified expending our own place and actual loan amounts. It was eye-opening to run the actual numerals and read just how much we can save from one plan to another!
A medical student 😛 TAGEND
Andrew was organized, punctual, knowledgeable and extremely helpful–we give him 5 virtuosoes! He is starting to patiently listening to us and fully refuting our questions. Our session was educational and superseded our nervousness bordering current and future indebtednes with reassurance and trust. Andrew helped us to map out future payment plan options tailor-make to our individual needs and destinations. His response time was excellent and his email summary was extremely useful and easy to understand.
An optometrist 😛 TAGEND
I had a call with Andrew who was extremely knowledgeable and helpful with my student credits. I didn’t end up making any significant changes on my mean, but I feel enormous having confirmed it with an expert! Andrew was an exceptional counselor! I’m going to recommend him every hazard I get.
An orthodontist 😛 TAGEND
During the hour-long consultation with Andrew, he rendered lucidity on my student credits and overall financial plan. He strolled me through a comprehensive contrive detailing my repayment alternatives, the pros and cons of each and the best plan for my statu. The only thing I please I could change would be to go back in time with the insight I have now and begin Income Driven Repayment at the start of my residency. I highly recommend StudentLoanAdvice.com to anyone who needs assist managing their own student loans.
When Should I Meet with StudentLoanAdvice.com? 
The ideal time for a student loan consultation is as you leave school, during the last part of your fourth year. However, better late than never. Even a mid-career doctor who has had student lends for a decade or more can benefit from a consultation. Most consumers are likely recent professionals school graduates or are currently enrolled in post-graduate training programs.
What Does It Cost?
While we expect this busines to be worth thousands, tens of thousands, or even hundreds of thousands of dollars to our readers, we thought it would be most fair and simple to time bill one flat rate for the service –$ 479.
That gets you 😛 TAGEND
One hour consultation with Andrew to develop a personalized student loan mean A recap email including a photocopy of your customized strategy, details about the strategy, and any supporting documentation 6 months worth of follow-up questions by email
Book an appointment with Andrew at StudentLoanAdvice.com Today !
What do you think? What questions do you have about StudentLoanAdvice.com? Comment below!
The post Student Loan Advice sounded first on The White Coat Investor – Investing& Personal Finance for Doctors.
Read more: whitecoatinvestor.com
Recent Comments