Student Loans

student loan refinance

A Doctor’s Guide to Refinancing Student Loans

Student loan refinancing is when a private lender pays off your student loans and provides you with a new loan with different terms, often at a lower rate. Refinancing may be a good option when you want a lower interest rate, to change the repayment terms, or to reduce your number of monthly payments. Avoid …

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student loans

How Has the Biden Presidency Affected My Student Loans?

Editor’s Note: This article was originally published in October 2020. We updated and revised the content on May 6, 2022 to provide the most current and accurate information. Student debt has doubled over the last ten years, ballooning up to $1.54 trillion, and becoming the second largest consumer debt type, placing it higher than both …

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public student loan forgiveness for doctors

Pros and Cons of Public Service Loan Forgiveness for Doctors

Pros and Cons of Public Service Loan Forgiveness for Doctors Key takeaways:  PSLF offers significant financial benefits to those employed full time by non-profit and government entities. Many doctors can get a headstart on fulfilling the required 120 PSLF payments while in residency. Those who pursue PSLF may encounter limited qualified employment options. Some doctors …

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student loan repayment

Will Biden Extend the Medical, Dental, and Veterinary Student Loan Payment Pause?

  What is going on with student loans for medical, dental, and veterinary school?   On March 27, 2020, the CARES Act was signed into law. The $2 trillion piece of legislation provided the first set of sweeping relief measures early in the COVID-19 pandemic. One of the hallmark pillars of the CARES Act was …

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medical school loans

Biden Extends the Student Loan Payment Pause: What This Means for Your Medical and Dental School Loans

Just the facts The automatic deferment of federal student loan payments with 0% interest is now set to end May 1, 2022. This pause on payments applies only to federal student loans, including most medical and dental school loans. It is unclear if this pause will be extended again past the May 1, 2022. Even …

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Changes in federal student loan servicers

Changes in Federal Student Loan Servicers: Will Your Loans Be Impacted in 2022?

Just the facts A number of federal student loan servicers have announced their withdrawal from this role by the end of 2021. This shift could affect around 16 million federal student loans. Only federal student loans are affected by this and the servicers are required to transfer loans to a different servicer. Income-based repayment plans …

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Loan Payoff Statement

Follow This Three-Step Process to Obtain Your Loan Payoff Statement

Obtaining your loan payoff statement is a necessary step to refinance your student loans. It can be a hassle, so we’ve simplified the steps to make it as easy as possible. First, you will need to determine your current student loan servicers. Then you’ll need to understand what’s in a loan payoff statement to ensure …

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loan payoff statement

Find Your Student Loan Payoff Statement to Refinance Medical School Debt

To decide if refinancing your student loans is right for you, you’ll want to fully understand the public loan system and forgiveness options that may be available to you. See our guide on If Forgiveness is Right for You. To pursue refinancing, you’ll need to obtain a Loan Payoff Statement from each of your student …

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medical school graduation

As a Doctor, Should I Refinance My Student Loans?

  Refinancing your medical, dental, or veterinary school loans could save you money on interest, but it’s not always your best option. Loan forgiveness programs only apply to federal loans. If you intend on working for a qualifying institution full-time for 10 years and you have qualifying loans, you should pursue Public Service Loan Forgiveness. …

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