Transcript of "How to Deal with Student Loan Debt"
STUDENT LOAN DEBT
How to Deal with
Susannah Snider covers higher education for Kiplinger's
Personal Finance magazine where she writes about college
financing and repaying student loans. You can find her
stories in print and at Kiplinger.com.
Follow her @SusSnider
Joe Mihalic wrote a blog at nomoreharvarddebt.com that
chronicled his mission to pay off his burdensome $90k of
student debt in seven months with an after-tax salary of
$74k. He attributes his success to his ability to retrain his
mind to avoid consumption and to find ways to supplement
Betsy Mayotte is the director of regulatory compliance for
American Student Assistance, a Boston-based nonprofit
organization with 50+ years’ experience helping people
make better decisions about financing their education and
repaying student loans. She is also a frequent contributor
to saltmoney.org. Follow her @asa_org
Brandon Endsley graduated from Purdue University in 2011
from the College of Health and Human Sciences with a
Bachelor in Science in Financial Counseling and Planning.
Brandon has worked at the Division of Financial Aid at
Purdue University since May of 2008, and in February 2012
Brandon became a full-time Financial Aid Administrator
overseeing Financial Literacy which houses MyMoney, a
website dedicated to financial literacy awareness.
Follow him @MyMoneyPurdue
Stephanie draws comics about money at The Empowered
Dollar, a personal finance web comic dedicated crushing
debt and creating financial freedom.
When she's not doodling or blogging, she's helping startups
and nonprofits design financial education apps and
programs. Follow her @EmpoweredDollar
Claire Murdough is a 2010 UC Santa Cruz graduate. She lives
in the Bay Area and writes for ReadyForZero, a company
empowering people to organize their debt repayment in the
most efficient way possible.
In addition to student loan repayment, she has a special
interest in affordable travel and discovering good food on
the cheap. Follow @Claire_Murdough @ReadyForZero
John is an Analytics Consultant at Experian. He has 20+
years of experience working in the consumer finance
industry with JP Morgan Chase and Capital One Financial.
Balances of student loan debt are now greater than any
other consumer loan product - with the exception of
Paying half your student loan payment every two weeks
Betsy Mayotte @asa_org
works out to a full extra payment a year.
Already in college and want to lessen that student debt load?
Keep applying for scholarships and fill out the FAFSA every year.
Hat tip to @BrokeMillennial
Q3: Any favorite apps or sites to
help you research a home?
Wednesdays | 3 p.m. ET
HOW TO PAY COLLEGE DEBT FASTER
You’ll earn a 0.25% point interest rate reduction.
Susannah Snider @SusSnider
When repaying your federal loans, sign up for automatic payments.
Don’t be afraid to ask questions,
Brandon Endsley @MyMoneyPurdue
it’s the only way to understand your student loans.
Student loans represent a serious financial contract --
research all your options before committing to a loan program.
What are you wasting your money on?
Joe Mihalic, NoMoreHarvardDebt.com
What can you start today to make more money?
Really important to understand what type of loans you have -
federal/private, interest rate, variable vs. fixed, term-length, etc.
John Derdevanis, Experian
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