On this episode of The Savvy Parent Podcast we’re joined by AJ Ayers, Certified Financial Planner, Certified Student Loan Professional, and co-founder of Brooklyn FI. If you’re a parent with student loans (or considering going back to school), you likely have questions about how to handle paying off your loans with all your other financial responsibilities and AJ provides guidance.
Making Your Financial Decisions
Though everyone’s situation will be different, AJ shares her thoughts on if, how, and when to pay off your student loans. She reminds us that interest rates are really good right now and that can be a great reason to refinance, but she and Shannon also share what you need to know if you do refinance or consolidate your loans and the impact that may have in unexpected ways.
Remember the Emotional Perspective
If your loan payments are currently manageable and you don’t tend to feel stress about them, then you may not need to worry about paying off your loans right now. However, if the payment is feeling high or you don’t like having the loans, then it might make sense to try to pay them off quickly. The emotional impact of loans and payments shouldn’t be overlooked in your bigger financial plans.
Resources mentioned
Learn more about AJ and Brooklyn FI
Check out our episode on a refreshing perspective on paying for college
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