In this episode of 'The Patient Physician,' we delve into the challenges and intricacies of managing medical student loans and the changing medical school debt landscape with Joe McGrath from GradFin. Explore the average debt burden of medical students, effective repayment strategies, and the complexities of programs like PSLF and income-driven repayment (IDR). Joe McGrath provides insights into the current state of student loan policies, the impact of recent executive orders, and the benefits of GradFin's concierge service. Whether you're a pre-med student, in residency, or a practicing physician, this episode offers valuable guidance on managing student loan debt.
In this episode of 'The Patient Physician,' we delve into the challenges and intricacies of managing medical student loans and the changing medical school debt landscape with Joe McGrath from GradFin. Explore the average debt burden of medical students, effective repayment strategies, and the complexities of programs like PSLF and income-driven repayment (IDR). Joe McGrath provides insights into the current state of student loan policies, the impact of recent executive orders, and the benefits of GradFin's concierge service. Whether you're a pre-med student, in residency, or a practicing physician, this episode offers valuable guidance on managing student loan debt.
MEET OUR GUEST: Joe McGrath is a senior business development associate at GradFin, where he provides guidance on applying for, refinancing, and forgiving student loans. He offers valuable insights into the student loan marketplace and helps individuals navigate the complexities of student loans. Email Joe for a free one-on-one consultation: joe.mcgrath@gradfin.com | Connect with Joe on LinkedIn. | https://gradfin.com/
TIME STAMPS:
00:00 Introduction - The Financial Burden of Medical Education
00:54 Guest Introduction: Joe McGrath from GradFin
01:33 Understanding Student Loan Repayment
03:36 Current State of Student Loan Debt
05:04 Income-Driven Repayment Plans Explained
08:11 The SAVE Program and Its Challenges
10:04 Navigating Repayment Options
19:51 Refinancing Student Loans
25:49 Paying Off Student Loans Early
26:12 Understanding Public Service Loan Forgiveness (PSLF)
26:42 Challenges with PSLF and Government Programs
29:36 Impact of COVID-19 on Loan Forgiveness
30:17 Navigating the SAVE Program and IBR Plan
36:32 GradFin's Membership and Services
43:16 Preparing for a Consultation with GradFin
46:25 Final Thoughts and Contact Information