Interest rates are super low right now, so learn how to navigate student loans to take full advantage of unique benefits from the federal government. 

In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about what you can do—given the low-interest rates—in relation to your student loan debt.  

Topics Discussed:

Federal and Private: Student loan types

10-Year Treasury Yield: What drives federal student loan interest rates

Refinance? Not an option with federal student loans

Private Student Loan Rates: Based on financial requirements; no closing costs

Prime and LIBOR: Interest rate indexes are trending down

Considerations: Refinance from federal to private student loans?

One-time Option: You can’t go back—once you’re out, you’re out

Interest Subsidies:

Unpaid: Federal student loans don’t charge interest on existing interest balance

RePAYE: At least half of monthly accrued interest that is unpaid, is forgiven by the government

20- or 25-Year Forgiveness: Income-based or income-driven repayment plans where the remaining balance is forgiven at end of the time period

COVID Forbearance: 0% interest and zero-required payments on all loans owned by the federal government

Refinance Waterfall: As you pay off the private student loan, consider a new refinance; shorter the term, better the interest rates

Links:

Historical 10-Year Treasury Yield

Current Federal Student Loan Rates

WCI Student Loan Refinancing

Historical Prime Rate

Common Bond Student Loan Refinance Rates

Public Service Loan Forgiveness (PSLF)

Avoid Leaving Money On The Table With Federal Student Loans

Finance For Physicians