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How I Help Clients With Student Loan Debt

I work with many clients that need financial planning services, but have significant student loan debt.  We need to address the student loan issue before we can develop a plan to help them achieve their financial goals. As a Certified Student Loan Professional, CERTIFIED FINANCIAL PLANNER, and CPA, I am uniquely qualified to assist you in finding the best strategies for repayment of your student loan debt.

The starting point is to determine the optimum strategy for repayment of the student loans. This includes exploring the different income driven repayment plans, standard repayment plans, extended repayment plans and private loan refinancing. In addition, we look at tax strategies that can be used to obtain the lowest possible payment, and we determine if the client is eligible for public service loan forgiveness.  We also look at whether consolidation makes sense. I provide a comprehensive report showing the total repayment over the life of the loan for each strategy, and also look at the tax that may be due if part of the loan is forgiven under an income driven repayment plan. 

I also work with referrals from other financial advisers that do not have the knowledge or expertise in this area. The repayment strategy for student loans must be addressed before preparing a full financial plan.  The goal may be to either get the lowest possible payments or to pay off the loan as quickly as possible.  Many of my clients earn a great income, but have substantial student loan debt. It is important to save for retirement and other financial goals while using the best possible student loan repayment strategy. 

Please contact me if you need help determining the best strategy for repaying your student loans.

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