How Should You Pay Off Student Loans?

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Investing, Business

4.7 • 3.1K Ratings

🗓️ 28 August 2023

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

What are the best methods of handling student loans, and how should you go about paying them off? We'll walk you through that question and more in today's Q&A episode! Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	We are going to start with a spicy question that I think a lot of people have right now,
0:12.8	right?
0:13.8	It's from Alice.
0:14.8	She says, with student loan forgiveness being overturned by the Supreme Court and payments
0:19.9	resuming soon, how should I prioritize my student loans?
0:24.3	I haven't had to pay them for the last three years.
0:26.3	They are 4.6% interest.
0:28.7	And payments resume, it's going to be very hard to save for a house, that's what she's
0:33.4	thinking about.
0:34.4	Thanks.
0:35.4	So I think a lot of people are maybe in this situation, and I think it's a good question.
0:39.2	What do you think?
0:40.2	How should they prioritize these?
0:41.2	Yeah, this one's really hard, right, because I think a lot of people have been on this
0:45.4	yo-yo, right?
0:46.4	I don't know.
0:47.4	We've seen this firsthand with a lot of our team members here.
0:51.8	This thing is going to happen, and then know it's not going to happen, it is going to happen,
0:54.6	it's not going to happen.
0:55.6	And I think a lot of people feel whipsawed, right?
0:57.2	Like whipsawed, whipsawed, whipsawed.
0:58.2	Well, now that we kind of finally know where we are, we have some certainty around what
	...

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