It’s difficult to think about the future when you can’t see through a cloud of debt and student loans can often engulf a young physician. While student loans are frequently an inevitable part of becoming a physician, they do not have to dominate a financial plan. There is a natural urge to eliminate debt as quickly as possible, however financially this is not always the best option. To be clear, when dealing with consumer debt like credit cards, personal or car loans a fast repayment schedule is warranted. Student loans on the other hand can provide flexible repayment schedules with long-term options. A cost analysis on the benefits of your repayment plan should be done to find the most advantageous prepayment plan. This is financially beneficial because any dollar you pay towards loans is a dollar that cannot be saved or invested.
It is important to start your career on the right path, and it begins with deciding on the best repayment plan for your debt. We help young physicians to understand their debt and we educate our clients on their options. Many clients feel helpless under the weight of their student loans and this despair often leads to avoidance. We evaluate all loan options available to you including refinancing your loans, deferment, forbearance and income-based repayment options. Whether seeking loan consolidation, extended repayment or public service loan forgiveness (PSLF) we address these options and guide you to a well-informed decision. Our analysis, education and recommendations will help you decide on a repayment plan that is financially efficient and affordable.