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ChooseFI | Financial Independence Podcast

College Hacking Toolbox

ChooseFI | Financial Independence Podcast

Jonathan Mendonsa & Brad Barrett | Choose FI Media, Inc

Careers, Investing, Business

4.85.2K Ratings

🗓️ 8 June 2018

⏱️ 60 minutes

🧾️ Download transcript

Summary

Most college students don't realize billions in scholarship dollars go unclaimed every year—a missed opportunity that could dramatically reduce or eliminate their debt before it even starts. This Friday Roundup dissects last week's conversation with Travis Hornsby, the student loan planner, applying his strategies to real listener scenarios involving six-figure debt loads and government forgiveness programs. Decluttering & Selling Items [00:02:28] Jonathan shares his success selling items on Craigslist. Tips include pricing competitively, using quality images, and writing effective ad copy to move inventory quickly. Financial Literacy for Kids [00:14:05] Teaching children about money management early sets them up for long-term success. Jonathan uses a "three bucket" system for allowance—saving, spending, and charity—to make financial concepts tangible. Student Loan Repayment Strategies [00:35:00] Income-based repayment plans and forgiveness programs can be powerful tools, but require careful navigation. Understanding qualification requirements and long-term tax implications prevents costly surprises down the line. Community College Savings [00:25:10] Attending community college for the first two years significantly lowers tuition costs without sacrificing educational quality. Unclaimed Scholarships [00:30:43] Many small scholarships go unclaimed because students don't apply. Actively seeking these opportunities can add up to substantial savings. Community Input & Resources [00:51:06] Listener success stories and community insights demonstrate how real people are tackling debt and building wealth. Resources: College Confidential - College planning resource [00:31:20] Travis Hornsby Calculator - Student loan repayment tool [00:51:06] Related Episodes: Episode 013: In-depth with Travis Hornsby [00:35:00] Episode 078: College Planning Strategies [00:31:01]

Transcript

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0:00.0

Welcome to the ultimate crowd sourced personal financial. This is your Friday Roundup.

0:06.0

You're listening to Choose Applied Radio.

0:10.0

The blueprint for financial independence lives here.

0:21.0

If you're looking to unlock the secrets to financial independence and early retirement,

0:26.0

you're in the right place.

0:28.0

Stay tuned and join a community of like-minded people who are getting off the answer.

0:33.0

And taking control of their lives in the pursuit of financial independence.

0:37.0

Choose FI, your home for financial independence online.

0:41.0

Hello and welcome to the Choose of Buy Radio Podcast.

0:53.0

Today on the show we're going to be exploring this past week's episode with Travis Hornspey,

0:58.0

the student loan planner, and what an action-packed and value-added episode as he dove through not only his own path

1:06.0

to early retirement, failed early retirement, and then entrepreneurship.

1:10.0

But also as we took the information that he had kind of collated and applied that to specific scenarios.

1:17.0

And people that in some cases have massive six figures of student loan debt,

1:21.0

how they should look at that and how to optimize it for their specific situation.

1:25.0

And you some of these government programs that are in place and are available.

1:29.0

So it was an incredibly value-added episode.

1:32.0

You really do, you absolutely do need to listen to that episode if you haven't already.

1:36.0

But today we're going to go a little bit deeper and we're going to actually explore a case study that is going to build on that episode.

1:42.0

And I'm incredibly excited about this and help me with this. I have my co-host Brad here with me today. How you doing buddy?

1:46.0

Hey Jonathan, I'm doing quite well.

1:48.0

Yeah, this was a really, really interesting episode with Travis.

...

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