27: Student Loan Advice for Teachers with Andrew Paulson

🎙️ What you need to know about student loans for teachers now! I talk with Andrew Paulson from studentloanadvice.com and we get into the meat of paying off student loans for teachers, whether that is on your own or some kind of loan forgiveness program. Explore the show notes at: https://www.teachermoneyshow.com/show27 Become a guest on the show: https://www.teachermoneyshow.com/guest Leave a voicemail question: https://www.speakpipe.com/teachermoneyshow Federal Loan Payments Recently, federal loan payments have restarted for teachers, For federal loan borrowers that means you need to resume payments to reduce your loan balances and make qualifying payments. This can have a huge impact on public service loan forgiveness and teacher loan forgiveness. And if you're unsure about how the pause impacted your journey toward loan forgiveness, we go into that too. Consolidation vs Refinancing Andrew provides detailed guidance on student loan repayment options for teachers, highlighting the advantages of consolidating federal student loans upon graduation to expedite repayment and kickstart the loan forgiveness clock. We also discussed when to refinance (and when NOT to refinance). Student Loans vs Financial Goals Paying off your student loans isn't your only goal. So whether you're saving for retirement, a down payment, or just want a rainy-day find, we recommend a two-pronged approach, this can be really beneficial in a lot of ways. For example, retirement contributions could lower tax payments and reduce student loan payments. To get in contact with Andrew for specific help on your situation go to https://www.studentloanadvice.com/tms Subscribe to The Teacher Money Show for more engaging episodes guiding you on your journey to financial empowerment. #StudentLoanAdvice #TeacherMoneyShow #StudentLoanRepayment #FinancialGuidance #StudentLoansForTeachers #LoanForgivenessPrograms #PodcastEpisode #FinancialEducation #EducationFinances