Veterinarian Student Loan Repayment
The best financial decision a Veterinarian can make early in their career is creating a repayment plan for their student loan debt. Focusing on cost-efficiency is key.
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Using a cost-efficient repayment strategy will increase how quickly you reach you financial goals.
Cost-efficiency is the relationship between monthly payments and long-term cost. If there’s a plan/strategy that minimizes both of these costs, that’ll be your most cost-efficient repayment option.
The question is, what is most cost-efficient repayment option for you? Is it Income-Driven Repayment? Is it refinancing into a private loan? Is it one of the standard federal repayment options?
There are over 15 repayment options to choose from. When researching these options, many look similar. But what they equate to in terms of short-term and long-term cost is drastically different. It’s important to not only understand how these options work, but also what your individual case looks like mapped our within each option.
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
Case Studies
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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.
Generally speaking, if you have more federal student loan debt than income, Income-Driven Repayment could be an attractive option. But it’s important to consult with an expert before making any financial decisions.
All Federal Direct Loans qualify for loan forgiveness on Income-Driven Repayment. The Federal Direct Loans are Grad Plus Loans and Stafford Loans
Nope! There is no income qualification for Income-Driven Repayment. You could make over a million dollars a year and be on an Income-Driven Repayment plan – but you probably wouldn’t want to.
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.
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.