Finance for Physicians

When To Refinance Student Loans

Listen Later

If you are going for Public Service Loan Forgiveness (PSLF), it is not the optimal time to refinance your student loans. If you’re not sure, don’t refinance because you may qualify for PSLF. Never say never! 

In this episode of the Finance For Physicians Podcast, Daniel Wrenne talks to Jeff Wenger, a Certified Financial Planner (CFP®), about when is the optimal time to refinance your student loans.  

Topics Discussed:
  • Refinance: Means getting new lender to pay off old loan to start new private loan
  • Reasons not to refinance out of a federal student loan:
    • COVID forbearance
    • 20- or 25-year forgiveness programs
    • Revised Pay As You Earn (REPAYE) interest subsidy
    • Reasons to Refinance:
      • To get a better interest rate and make progress on loans
      • Pay the least amount out-of-pocket over time
      • Locked-in Loans: What if you lose your PSLF-qualified or income-driven job?
      • What if you start with private loans? With record-low interest rates, refinance now
      • Personal Preference: Move on with life, refinance, pay it off ASAP if PSLF is out
        • Links:

        A Guide to Public Service Loan Forgiveness (PSLF)

        9 Biggest Student Loan Misconceptions

        Should I Drop Out Of PSLF

        Avoid Leaving Money On The Table With PSLF

        Why Student Loans Are A Great Bet For Many Physicians 

        How To Capitalize On Record Low Student Loan Interest Rates

        Getting Your PSLF Ducks In A Row

        Credible

        SoFi

        CommonBond

        Jeff Wenger on LinkedIn

        Wrenne Financial Planning

        Contact Finance for Physicians

        Finance for Physicians

        ...more
        View all episodesView all episodes
        Download on the App Store
        Finance for PhysiciansBy Daniel Wrenne
        • 4.7
        • 4.7
        • 4.7
        • 4.7
        • 4.7

        4.7

        39 ratings

        More shows like Finance for Physicians

        View all
        Afford Anything | Make Smart Money Choices by Paula Pant, Personal Finance Expert | Cumulus Podcast Network

        Afford Anything | Make Smart Money Choices

        3,565 Listeners

        Money Guy Show by Brian Preston and Bo Hanson

        Money Guy Show

        3,242 Listeners

        Your Money, Your Wealth by Joe Anderson, CFP® & Alan Clopine, CPA of Pure Financial Advisors

        Your Money, Your Wealth

        816 Listeners

        Retirement Answer Man by Roger Whitney, CFP®, CIMA®, RMA, CPWA®

        Retirement Answer Man

        1,312 Listeners

        ChooseFI | Financial Independence Podcast by ChooseFI

        ChooseFI | Financial Independence Podcast

        5,156 Listeners

        White Coat Investor Podcast by Dr. Jim Dahle of the White Coat Investor

        White Coat Investor Podcast

        2,455 Listeners

        Stay Wealthy Retirement Podcast by Taylor Schulte, CFP®

        Stay Wealthy Retirement Podcast

        694 Listeners

        BiggerPockets Money Podcast by BiggerPockets

        BiggerPockets Money Podcast

        3,081 Listeners

        Bogleheads On Investing Podcast by bogleheads

        Bogleheads On Investing Podcast

        616 Listeners

        Sound Investing by Paul Merriman

        Sound Investing

        348 Listeners

        Money Meets Medicine by Doctor Podcast Network, Jimmy Turner MD

        Money Meets Medicine

        227 Listeners

        The Personal Finance Podcast by Andrew Giancola

        The Personal Finance Podcast

        1,435 Listeners

        The Rob Berger Show by Rob Berger

        The Rob Berger Show

        200 Listeners

        Personal Finance for Long-Term Investors by Jesse Cramer

        Personal Finance for Long-Term Investors

        158 Listeners

        Retirement Planning Education, with Andy Panko by Andy Panko

        Retirement Planning Education, with Andy Panko

        1,062 Listeners