Med School Loan Strategies: Keep It or Clear It? | Ep. 19

Should you pay off your medical school loans ASAP or stretch them out? This is an especially important question for medical professionals, with many factors to consider!

From different repayment options, to loan forgiveness programs, to tax implications. Not to mention the emotional satisfaction of making quicker progress on your debt. Which plan is right for you? Jacqueline, is currently in medical school so Michael has done a lot of research into this with other experts.

They discuss thoughts on their own repayment strategies based on listener's question. What should you consider when making this decision?

This applies to more than just Medical school loans too. From student loans to mortgages to car loans, Michael CFP®, EA and Jacqueline break down when it actually may make sense for some people to keep loans around and use the resources another way, while others may want to pay them off as soon as possible!

Discussion topics:

🤔💭 Why paying the loans off even if the math says different isn't such a bad idea for many

🤔💭 What is “cheap money” and when may it be wise to use your resources in other ways than pay off the loans

🤔💭 Medical School loans and navigating the repayment and forgiveness options

🤔💭 How emotion and discipline may shape your financial success

🤔💭 Are you the type of person that may be okay keeping low interest debt?

🤔💭 Why some people don't rush to pay off a mortgage

🤔💭 What do ice baths have to do with staying calm when the market drops?!

It’s not just math, it’s mindset.