YFP Planning Lead Planner, Kelly Reddy-Heffner, discusses commonly asked questions regarding refinancing student loans.

Key Points from this Episode

• An introduction to Kelly Reddy-Heffner, and recapping her previous YFP episode.
• How it's a complicated decision to choose the right repayment plan for you.
• The two distinct categories of who refinancing is not a good fit for.
• A reminder that refinancing is a one-way street from federal to private.
• Do checking rates impact my credit score? Be aware of the language used!
• Unpacking the option of refinancing more than once.
• Reading the fine print on what happens to the loan in the event of death or disability.
• Picking a time horizon and monthly payment amount that's doable.
• Fixed-rate or variable? Kelly recommends what to do in the current climate.
• We break down the difference between consolidation and refinancing.
• Pursuing income-based repayment options, and some challenges with private loans.
• Hear about a partial refi of a federal loan.
• We reflect on some of the past rates etched in Tim's mind from his repayment journey.
• Thoughts on the upcoming end of administrative forbearance and unlikely extensions.
• Kelly shares some parting advice for December that we all need to hear!

Links Mentioned in Today's Episode

• Student Loan Refinancing
• YFP Planning: Financial Planning for Pharmacists
• YFP 220: Student Loan Forbearance Extension - Now What?
• Student Loan Refinance Calculator
• Student Loan Refinancing Offers and Refinance Spreadsheet
• Learn More About Our 1:1 Student Loan Analysis with a CFP® - use code YFP for 10% off
• Your Financial Pharmacist Disclaimer and Disclosures