If you are currently considering graduate or medical school, one of the concerns you probably have is how am I going to pay for this? Am I going to be in debt forever after I’m done with school?
If you are currently in graduate school, medical school, in residency or are already working in your profession, chances are you have student loan debt. The next question is, what is your plan for repayment? Are you planning to refinance, repay through a forgiveness program or stay with your current repayment plan?
The sheer amount of student loan debt medical school and graduate students hold, along with the potential to utilize forgiveness programs, means it’s important to choose the right repayment strategy for your specific situation. However, the repayment options available to you can be confusing and complex to navigate.
That’s why we’ve sought out and vetted resources to help you make a plan.
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To get personalized help (from a real person) we recommend:
Student Loan Planner specifically helps students who have monster student loan balances (ranging from $20,000 to $1 million) and those who are considering attending programs that will give them monster student loan balances. They will help you create a custom loan plan made just for you that details the path to debt freedom. They charge a one-time fee for a thorough, un-biased review.
They offer two different consults:
- The Pre-Debt Consult – if you’re thinking about attending a graduate school or professional program that could put you in six figures of debt after graduation
- The Post-Debt Consult – if you already have significant outstanding debt and want to get strategic advice around specific actions you should take once you’re ready to pay the debt back
Why we like them:
- They help you know about all of your repayment options and help you assess and strategize which option is best for your specific scenario.
- Flat fee and transparent, affordable pricing
- They will save you time! They are the experts and know the ins and outs of student loan repayment strategies.
- You can rest assured knowing a CFA, CSLP, or CFP® professional has reviewed your situation and has given you unbiased advice.
How it Works:
Learn about all the pitfalls and mistakes to avoid with student debt AHEAD of time. Instead of dealing with tons of stress and anxiety from your loans while also trying to pass your classes, they can take that burden off of you with a clear plan. You’ll work with one member of their team of CFP®, CFA, or CSLP consultants.
The consult lasts approximately one hour, and you can book here to learn what your financial future could look like POST-student debt.
After booking, they’ll email you a consult form to fill out (this takes about 15 minutes to complete). Then they’ll go to work preparing your plan, which they’ll deliver on the call.
You’ll get unbiased clarity on the financial implications of getting an advanced degree.
When is the best time to make a pre-debt plan?
The best time to make a pre-debt plan is before you decide to attend a particular program and before you take out any loans. The goal is to know what you are getting yourself into financially before starting school and taking out loans.
You go to school and have all this debt and have no idea what to do when you get out. It’s terrifying because it’s more than the average mortgage, and nobody seems to know how to tackle this. Luckily, they’re experts in slaying monster student loan balances. They’ve helped over 3,000 clients take on over $760 million of student debt.
They’ll ask you for some information before your call, and they will prepare an analysis ahead of time that they’ll deliver when you talk.
When the time comes for your call, you’ll have a discussion with one of their student loan consultants and they’ll look at your unique situation. They will provide you with an exhaustive review of your repayment options, and take a hard look at the path you’re on. If you’re already doing everything right, they’ll take the burden of not knowing off your plate and confirm you’re doing everything you can to maximize your savings. If you’re missing something (and 90% of people are), they will give you ideas of how you can save thousands of dollars over the lifetime of your loans.
They will answer all the questions you have and are available for email support for up to six months after you sit down together (and that’s all included in the one-time fee). If you use the eQuez-specific link to schedule a call, you will receive email support for an extra six months for free (for a total of one full year of free email support instead of the standard six months after your call).
When is the best time to make a post-debt plan?
Whenever you’ve taken out your last loan is the best time to make a plan for repayment. This could be during your last semester of school or before you start your residency. Generally speaking, the sooner you make a plan, the better! You can also make a plan during or after your residency as well.