42 West Campbell Avenue
Paying Down Student Debt and Building Your Future
As your financial advisor, our goal is to help you accumulate assets, save for retirement, and manage risks to your financial well-being. One of the biggest detractors to financial stability is student loan debt. In fact, many student loan borrowers have to delay saving for retirement because of the amount of college debt they owe. Our comprehensive financial planning approach can help you get out from under the debt mountain and move forward toward your future with financial security.
There are many ways to pay down student debt, and it is critical to understand your options. Students who borrow from the Federal Government start out with a standard 10-year repayment plan. It rarely stays that way. In fact, students typically take between sixteen and eighteen years to pay those loans off. The reason for this is that the US Department of Education offers different repayment plans. Some of these are income-based, some are extended, and some are graduated repayment plans. Knowing what you are signing up for is of utmost importance because you may extend your payment for up to 30 years.
We offer advice and education on handling student loan repayment by analyzing your finances and helping you decide which plan is right for your situation. We also help you decide if making additional payments works with your budget or if refinancing your loans to shorter repayment terms can help you become debt-free faster.
We also work with recent graduates on budgeting and financial planning because we believe that arming you with financial knowledge is essential to your success.