January 09, 2024

Student Loan Strategies for Chiropractors with Meagan McGuire of Student Loan Planner

46 minutes

In this episode, Dr. John Stenberg and Megan McGuire from Student Loan Planner discuss the challenges and options for managing student loans. They cover topics such as personal finance basics, choosing the right repayment plan, and the importance of budgeting. They also dispel myths about student loan forgiveness and provide resources for student loan planning.

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Takeaways

Understanding the different repayment options and choosing the right plan is crucial for managing student loans effectively.

Budgeting and financial discipline are essential for successfully navigating student loan repayment.

Student loan forgiveness is a complex topic, and it's important to consider the long-term implications and tax implications.

Working with a student loan planner can provide personalized guidance and support in creating a repayment plan.

Periodic reviews and adjustments to the plan are necessary to ensure it aligns with changing circumstances and goals.

Chiropractors have unique considerations when it comes to student loans, and it's important to factor in income variability and practice ownership.

The COVID-19 pandemic has brought about changes in student loan policies, including payment freezes and forgiveness options.

The future of student loans and financial planning is uncertain, and staying informed and proactive is key. Thoughtful consideration and planning are crucial for borrowers of all ages.

Avoid keeping your head in the sand and ignoring your student loans.

Be cautious when considering refinancing, as it may not be the best option for everyone.

Stay informed about the evolving landscape of student loan programs.

Chapters

00:00 Introduction and Background

01:23 Megan's Journey into Student Loan Planning

04:34 The Challenges of Student Loans for Healthcare Professionals

05:37 Personal Finance Basics for Students

06:31 Choosing the Right Student Loan Repayment Plan

08:40 The Importance of Budgeting and Financial Discipline

11:04 Dispelling Myths about Student Loan Forgiveness

14:20 Determining the Best Repayment Plan

18:11 Taking a Patient-Centered Approach to Student Loan Planning

19:14 Resources and Support for Student Loan Planning

23:01 Building a Student Loan Repayment Plan

25:23 Periodic Reviews and Revisiting the Plan

27:01 Considerations for Chiropractors

29:45 Changes in Student Loan Policies during COVID-19

36:02 The Future of Student Loans and Financial Planning

36:54 Considerations for Borrowers of All Ages

37:24 Final Words of Encouragement and Tips

38:26 Avoiding Mistakes: Keeping Your Head in the Sand

38:54 Avoiding Mistakes: Refinancing

41:10 The Future of Student Loan Programs

41:51 Closing Remarks and Recommendations

...more

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By Dr. John Stenberg & Dr. Cameron Bearder

4.9

2323 ratings