Attorney Student Loan Repayment

Varela Financial was founded based on the work we’ve done with attorneys – solving their student loan problems in the most cost-efficient manner.

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Attorneys

Income is your most valuable wealth building tool

When doing Student Loan Repayment Planning with an attorney, income is the most important variable to consider. The range of income in the legal field is vast. It’s important to not only understand what income is now, but what it will be in the future. 
 
Outside of inheritance, income is the most valuable wealth building tool an attorney has. The question is, how are you utilizing this tool? Is it affording you the lifestyle you desire? Is it paying off your debt? Is it getting you ahead of long-term financial goals? We’ve found that our best cases are when we can find a healthy balance between all three of these items.
 
Whether you’re working for the government, a small family law firm, or BigLaw – Varela Financial has the strategies for you.
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HOW IT STARTED

Varela Financial was founded based on the work we’ve done with attorneys.

In 2019, there were 237 law schools in the US that graduated around 34,000 students with an average student loan amount of $145,000 per graduate. That’s almost $5 Billion dollars of student loan debt entering the work force – and that’s just from one year!
 
In 2020, Varela Financial was founded and started helping attorneys lessen the burden of their student loans by helping them understand the repayment strategies/plans available to them. In doing so, we saved our clients over $2 Million dollars with an average savings of over $74,000 per case. 
 
In 2021, Varela Financial expanded to 9 other industries across 30+ different states, where we analyzed over $12 Million dollars of student loan debt and saved our clients over $6 Million dollars with an average savings of $78,000 per case
 
2022 – present, Varela Financial has a presence in more than 7 different industries. We’ve analyzed over $44 Million dollars of student loan debt. We’ve saved our clients over $22 Million dollars. And we see an average savings of $86,000 per case.
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ATTORNEY

Case Studies

Attorney Student Loan Case Study

  • Old Plan Cost: $608,315
  • New Plan Cost: $418,513

$189,802 Saved

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Attorney Student Loan Case Study

  • Old Plan Cost: $275,000
  • New Plan Cost: $221,000

$54,000 Saved

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Attorney Student Loan Case Study

  • Old Plan Cost: $299,000
  • New Plan Cost: $235,000

$64,000 Saved

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Attorney Student Loan Case Study

  • Old Plan Cost: $159,963
  • New Plan Cost: $123,490

$36,473 Saved

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Attorney Student Loan Case Study

  • Old Plan Cost: $246,599
  • New Plan Cost: $183,763

$62,836 Saved

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Attorney Student Loan Case Study

  • Old Plan Cost: $272,292
  • New Plan Cost: $162,527

$109,765 Saved

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ELIGIBLE CITIES

State-sponsored repayment programs

Pennsylvania

District of Columbia

Florida

Louisiana

Maine

Maryland

Massachusetts

Minnesota

Montana

Nebraska (two programs)

New Hampshire

New Mexico

New York

North Carolina

Ohio

Oregon

Texas

Vermont

Mississippi

Virginia

Illinois

Indiana

Kansas

Testimonials

Curious about what people say about us & our services?

"Now that I have a good understanding of how my student loan repayment plan works, it makes me feel better about my monthly payments and gives me more wiggle room to plan for my other financial goals. Before meeting I was kind of freaking out not knowing what to do with my situation but feel very confident in my plan now, so thank you!"
Kelly
Kelly
"This meeting was very helpful. I didn’t know that I would need to pay taxes on my loan when it’s forgiven. I also didn’t know that having a family would help to lower my monthly and long term costs. I also didn’t know how to minimize my monthly payments as low as possible. So now that I know these things I feel a lot better about my plan!"
Kaitlyn
Kaitlyn
“Varela Financial is very knowledgeable. Extremely thorough and broke down everything for me to understand what our meetings would be about. In the meetings, I felt that I was being taken care of and I had nothing to worry about. He understood what I personally needed and found the best fit for me. Highly recommend working with him. Also fun to work with! Great experience.”
Noran
Noran
"The consultation was very helpful. It was good to see that even though I got out of a graduate school program and wasn’t necessarily going to be making six-figures, it is possible to pay things down efficiently while still enjoying my finances, income, savings, and be able to save for retirement. That was a huge plus for me!"
Leanna
Leanna

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Frequently Asked questions

We use a 3-Step Process with all of our clients. The first step is our Approach Phone Call. The second step is our Student Loan Repayment Consultation. The third step is the Solution Meeting. This process allows us to educate you on what to do, and why.

We offer a variety of financial services: student loan repayment services, wealth accumulation, insurance planning, and tax planning. Our goal is to have all the necessary financial services all in one place. That way you have ONE TEAM of advisors that are all on the same page, rather than 4 different advisors telling you 4 different things.

There is no income qualification for IDR. You technically could make over a million dollars a year and be on an IDR plan – but you probably wouldn’t want to.

Generally, if you have more federal debt than income, Income-Driven Repayment could be an attractive option for you. But every case is different so it’s important to consult with a professional before making any decisions.

It depends. Every case is different. Generally, if your monthly payments on a private loan would be lower than your payments on any of the federal repayment plans, refinancing into a private loan could be a good option. (this is not a recommendation)

All federal Direct Loans qualify for loan forgiveness on Income-Driven Repayment. The federal Direct Loans are Grad Plus and Stafford Loans

No, PSLF is more of an “add on” to one of the Income-Driven Repayment plans.
 

While the job of an attorney is fulfilling, it is also very demanding.

Save yourself some time and book a free 15 minute phone call with us today. We’ll help take the stress, anxiety, and confusion out of your student loan situation, and help you get closer to that financially free life you deserve.

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