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Resident physician tips on optimizing loan forgiveness

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Manage episode 235803341 series 2471867
Content provided by Travis Hornsby. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Travis Hornsby or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Dr. Mark Ard is a resident psychiatrist who finished medical school with roughly $330,000 of debt. Learn how he’s working toward Public Service Loan Forgiveness, how refinancing his loans has helped him and what his tips are for optimizing loan forgiveness.

In today’s episode, you'll find out:

  • Mark’s background and education journey as a resident psychiatrist
  • His family situation and how it’s affected his student loan repayment
  • How he’s approached retirement accounts and buying a house
  • Why purchasing a home is usually not the best decision for someone in residency
  • How moonlighting has affected recertification with Public Service Loan Forgiveness
  • How the breadwinner loophole can help people in community property states
  • Why tax accountants might not know to equally distribute your income in you live in a community property state
  • How much the breadwinner loophole can save someone on student loan payments
  • How Mark refinanced his student loan debt
  • How cashback bonuses with refinancing companies work
  • How consolidating right after graduation can give medical students $0 payments their first year out of school
  • Why putting loans in deferment or forbearance right out of school isn’t the best idea
  • How a solo 401(k) could help someone with 1099 income
  • Why life insurance and disability insurance are so important
  • Mark’s long-term plans when it comes to retirement
  • His advice for other residents entering student loan repayment

Full show notes at: http://studentloanplanner.com/28

  continue reading

321 episodes

Artwork
iconShare
 
Manage episode 235803341 series 2471867
Content provided by Travis Hornsby. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Travis Hornsby or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Dr. Mark Ard is a resident psychiatrist who finished medical school with roughly $330,000 of debt. Learn how he’s working toward Public Service Loan Forgiveness, how refinancing his loans has helped him and what his tips are for optimizing loan forgiveness.

In today’s episode, you'll find out:

  • Mark’s background and education journey as a resident psychiatrist
  • His family situation and how it’s affected his student loan repayment
  • How he’s approached retirement accounts and buying a house
  • Why purchasing a home is usually not the best decision for someone in residency
  • How moonlighting has affected recertification with Public Service Loan Forgiveness
  • How the breadwinner loophole can help people in community property states
  • Why tax accountants might not know to equally distribute your income in you live in a community property state
  • How much the breadwinner loophole can save someone on student loan payments
  • How Mark refinanced his student loan debt
  • How cashback bonuses with refinancing companies work
  • How consolidating right after graduation can give medical students $0 payments their first year out of school
  • Why putting loans in deferment or forbearance right out of school isn’t the best idea
  • How a solo 401(k) could help someone with 1099 income
  • Why life insurance and disability insurance are so important
  • Mark’s long-term plans when it comes to retirement
  • His advice for other residents entering student loan repayment

Full show notes at: http://studentloanplanner.com/28

  continue reading

321 episodes

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