Resident Student Loan Repayment

Choosing the right repayment plan during residency is vital to securing your financial future. Watch the video to learn more!

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Residents

Having confidence in your planning is crucial!

Deciding what to do with your student loans while in residency can be tough. You have a lot on your plate. You work long, demanding hours. The last thing you want to worry about is your student loans. 
 
Varela Financial takes that burden off your plate. We take the time to understand your case, your time frame, and your financial goals. From there, we’ll show you what repayment options are available to you, how these options work, and what your individual case looks like mapped out within each option.
 
Having confidence in your planning is key. Plan with an expert today!
Residents

Case Studies

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

What to expect during our consultation

We’ll need to know how long your residency is. Are you doing a fellowship afterward? If so, for how long? From there, we’ll help you understand the breakdown of your loans, what repayment plans you qualify for, how those plans work, and most importantly what those plans look like mapped out within your individual scenario. At the end of our consultation, we email over our recommendations. We’ll also meet with you once a year to track your progress.

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Frequently Asked questions

We use a 3-Step Process with 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.

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 you need 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.

Nope. There are four Income-Driven Repayment plans that involve loan forgiveness: IBR09, PAYE, REPAYE, IBR2014. PSLF is basically an “add on” to any of these options. 

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

It depends. Every case is different. Generally, you’d want to investigate this option if/when your monthly payments on a private loan would be lower than your payments on any of the federal repayment plans.

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

Generally, if you have more 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.

Don’t let your student loans get in the way of the financial freedom you deserve!

There’s no need to plan your student loan repayment by yourself. Get professional eyes on your case and handle your situation with expertise.