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Living with Student Loans During Residency

January 31, 2019March 11, 2022 Adam RothmanGuest Articles, Repayment Strategies

For most people who want to achieve their higher education goals, student loans are a necessary evil. This is especially true for those who choose to attend any form of graduate school, where scholarship opportunities and financial aid are typically harder to find. During my four years of college and my four additional years of medical school, I certainly accrued a vast amount of student debt. I will admit that during those eight total years… Continue Reading Living with Student Loans During Residency

Parents Can Help Their Kids Receive Financial Aid

January 21, 2019 Jordan RothmanAdvice for Parents

Every student who wants to minimize the amount of money they borrow to attend college or graduate school should consider obtaining financial aid. As mentioned in a few prior articles, I received generous need-based financial aid while attending college and law school. This assistance helped me lessen the amount of money I had to borrow to earn my degrees. Through my experiences applying for financial assistance, I learned first-hand how parents can help their kids… Continue Reading Parents Can Help Their Kids Receive Financial Aid

Buying a Home Is Not Worth It in Many Situations

December 3, 2018 Jordan RothmanRepayment Strategies, Saving Money

During my student debt repayment saga, completely paying off my student loans was my number one financial goal. I wholeheartedly devoted myself toward my objective of paying off student loans, and I used a number of strategies to save money and earn extra cash so that additional funds could be devoted to this goal. Once I was finally done paying off my student loans, my biggest financial goal was purchasing a home of my own. … Continue Reading Buying a Home Is Not Worth It in Many Situations

Why I Chose to Live at Home During Medical School

October 25, 2018March 11, 2022 Adam RothmanGuest Articles, Saving Money

As I stated in several of my prior articles, medical school is far from cheap. With annual tuition averaging over forty thousand dollars, it is imperative to cut costs wherever possible. When I was set to begin my first year of medical school, I took out the maximum amount of federal student loans I was able to borrow, equaling around $55,000. While this funding covered the cost of my medical school tuition (which was slightly… Continue Reading Why I Chose to Live at Home During Medical School

A Dollar Saved Is Better Than a Dollar Earned

October 15, 2018 Jordan RothmanSaving Money

We have all probably heard the expression “a dollar is saved is a dollar earned” at one point or another during our lifetimes. And it is true that if you spend less money on unnecessary things, you will have more cash to devote to paying off student debt or achieving other life goals. Although saving money is an extremely important part of repaying student debt, many readers of this website are more interested in earning… Continue Reading A Dollar Saved Is Better Than a Dollar Earned

Donating to Charities While Paying Off Student Loans

October 8, 2018 Jordan RothmanSaving Money

As this website has previously discussed, paying off student loans consumes considerable financial resources. Indeed, student debt borrowers oftentimes have little money to devote to anything else, like saving for retirement, purchasing a home, or accomplishing other life goals. As a result, donating to charities while paying off student loans can be difficult for numerous student debt borrowers. However, many individuals with student loans would like to contribute to charities, and there are some things… Continue Reading Donating to Charities While Paying Off Student Loans

Handling Agreements to Repay Parents for Fronting Educational Costs

August 13, 2018August 13, 2018 Jordan RothmanAdvice for Parents

Repaying Parents for Fronting Educational Costs

Most articles on this website are directed toward individuals who borrowed student loans to pay for their educational costs. However, some people are fortunate enough to have parents who will pay for college and graduate school for their children. Some parents are wealthy enough so that they are able to pay for the educational costs of their kids without ever requiring their children to pay them back. However, other parents expect their kids to pay… Continue Reading Handling Agreements to Repay Parents for Fronting Educational Costs

The Benefits of Working a Part-Time Job During Medical School

August 9, 2018March 11, 2022 Adam RothmanEarning Extra Money, Guest Articles

Medical school is not easy. I should know, I’ve been through it. As a medical student, you need to endure countless mundane lectures, deal with tedious study groups, and basically learn an entirely new language (medical terms number in the several thousands). All throughout, you are forced to compete against the brightest of the bright for future job opportunities. These burdens are of course separate from any issues you may face while working a part-time… Continue Reading The Benefits of Working a Part-Time Job During Medical School

Cosigner Considerations for Parents of Student Loan Borrowers

August 6, 2018 Jordan RothmanAdvice for Parents

Parents can have a major impact on how their children are affected by student debt. Some parents are wealthy enough to completely pay for their children’s’ schooling, so that their kids do not need to borrow any money to finance their degrees. However, since it currently costs an insane sum of money to attend college or graduate school, many students will need to borrow money in order to pay for their educational costs. Nevertheless, parents… Continue Reading Cosigner Considerations for Parents of Student Loan Borrowers

Parents Can Help Their Kids Refinance Student Loans

July 30, 2018March 10, 2022 Jordan RothmanAdvice for Parents, Refinancing Student Loans

Many parents of student loan borrowers are probably very familiar with the concept of refinancing debt. Indeed, numerous individuals refinanced mortgages after the Great Recession to take advantage of historically low interest rates. In addition, many individuals also have experiences with refinancing credit card debt and other types of loans. Refinancing debt usually allows borrowers to spend less money on interest and enables individuals to pay less each month to service their debt. Student loan… Continue Reading Parents Can Help Their Kids Refinance Student Loans