Paying Off Student Loans
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This week’s podcast discusses paying off student loans. Our guests are Heather Jarvis, attorney and Senior Program Manager for Law School Advocacy at Equal Justice Works; Edie Irons, expert on income-based repayment and public service loan forgiveness, and Communications Director at the Institute for College Access & Success; and Glen Herrick, Senior Vice President of Risk Management at Wells Fargo in Sioux Falls, South Dakota.
Our first guest, Heather Jarvis, attorney and Senior Program Manager for Law School Advocacy at Equal Justice Works, starts by discussing the timeline students typically follow when they start paying off student loans. She also discusses the different payment plans students can choose from when repaying their student debt, and spends time covering income-based repayment, which bases a student’s monthly loan payment off his or her current salary. She also stresses the importance of keeping in constant communication with your student loan lender.
Edie Irons, Communications Director at the Institute of College Access & Success, also discusses different student loan repayment options and suggests that thorough conversations with your lender are of utmost importance when deciding on the best repayment option for you. She also offers information on loan forgiveness programs, which allow students to get some of their loans forgiven based on the career they choose after graduation.
Our final guest, Glen Herrick, Senior Vice President of Risk Management at Wells Fargo (SD), talks about privately-funded education loans such as the ones offered by his institution. Herrick suggests first exhausting all possible funding through federal channels before taking out private loans. He also underlines the importance of making sure to manage your debt.
Edie Irons – Communications Director at the Institute of College Access & Success
Heather Jarvis – Attorney and Senior Program Manager for Law School Advocacy at Equal Justice Works
Glen Herrick – Senior Vice President for Risk Management at Wells Fargo (Sioux Falls, SD)