The stats around student loan debt are staggering:
- Americans owe nearly $1.3 trillion in student loan debt, spread out among about 43 million borrowers.
- 70% of students graduate with student loans.
- A recent Citizen’s Bank survey finds 59% of Millennial graduates have no idea when their student loans will be paid off.
- The average Class of 2016 graduate has $37,172 in student loan debt, up six percent from last year.
- Not to mention, a 2016 med school graduate borrowing $183K of Direct Unsubsidized Loans will begin residency with a principal balance of $212.8K due to the capitalization of interest accrued during school and grace. That’s a decent sized mortgage!
Unfortunately, the burden of student loans is forcing some borrowers to delay major life events like getting married, buying a house, starting a family, or saving for retirement.
That’s where we come in.
We work with young professionals to create, execute and monitor a customized student loan management strategy. Our involvement will vary based on your needs. Our packages include:
- Customized annual student loan plan
- Student loan recommendations
- Answers to all your questions in a web or phone meeting
- Access to personal finance tools
- Tax integration & preparation
We charge a flat-rate of $500 for a single borrower or $750 for a married borrower (double borrowers), assuming the matter is not unusually complex. If the case involves defaulted loans or other extraordinary circumstances, we will put forward an appropriate fee for your consideration.
Our practice is to request payment at the time we sign a financial planning agreement.