Summary: <br> First, the good news: you’re not alone! <a href="https://www.pewresearch.org/fact-tank/2019/08/13/facts-about-student-loans/">About 1/3 of adults under age 30 carry some level of student loan debt.</a><br> <br> <br> <br> Unfortunately, if you’re earning a post-graduate degree, you may owe nearly twice as much as your friends who stopped with a Bachelor’s degree.<br> <br> <br> <br> This week on the show, we take a 360º look at student debt, and help you make a plan for paying it off without breaking the bank.<br> <br> <br> <br> <br> <br> <br> <br> This week, we’re joined by Dr. Emily Roberts of <a href="http://pfforphds.com">Personal Finance for PhDs</a>! You’ll remember Emily from our previous finance-focused episodes covering topics like <a href="http://hellophd.com/2019/02/109-hellophd-guide-to-grad-school-applications-understanding-your-offer-letter-with-dr-emily-roberts/">graduate school offer letters</a>, <a href="http://hellophd.com/2018/02/089-grad-student-guide-investing-retirement/">investing for retirement</a>, and <a href="http://hellophd.com/2017/03/068-targeted-savings-accounts/">saving for a rainy day</a>.<br> <br> <br> <br> We start the conversation by understanding some common terms you’re likely to see if you have a student loan. We learn the difference between federal vs. private loans, what it means to have a loan that is ‘subsidized’, and why your loan may be ‘deferred’ while you’re in graduate school.<br> <br> <br> <br> With that overview of the student loan landscape under our belts, we get to dive into some of the questions you may be asking as a grad student:<br> <br> <br> <br> * Should I make payments on my loan while in graduate school?* Can I benefit from an income-driven repayment plan?* What is Public Service Loan Forgiveness, and am I eligible?* What about refinancing? Is that a good idea now that interest rates are so low?* How should I balance paying my student loans with other goals I have like saving for a large purchase or investing for retirement? <br> <br> <br> <br> Emily guides us through those questions, and more, and then tells you how to avoid a common trap that gradates fall into with the income-driven repayment plan.<br> <br> <br> <br> If you have questions, you can reach out to Emily on her website <a href="http://pfforphds.com">PFforPhDs.com</a>, or check out some of the calculators and websites she mentioned in the show:<br> <br> <br> <br> <a href="https://www.usnews.com/education/blogs/student-loan-ranger/articles/2018-08-01/what-to-know-about-nonprofit-student-loan-counseling">Certified Student Loan Counselors</a><br> <br> <br> <br> <a href="https://studentloanhero.com/">StudentLoanHero.com</a><br> <br> <br> <br> <a href="http://askheatherjarvis.com/">Heather Jarvis</a><br> <br> <br> <br> <a href="https://www.promega.com/HelloPhD" target="_blank" rel="noopener noreferrer"></a><br>
