Physical Therapist Student Loan Repayment
The best financial decision a Physical Therapist can make early in their career is creating a repayment plan for their student loans debt. Focusing on cost-efficiency is key.
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Using a cost-efficient repayment strategy will increase how quickly you reach your financial goals.
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State-sponsored repayment programs
Pennsylvania
District of Columbia
Florida
Louisiana
Maine
Maryland
Massachusetts
Minnesota
Montana
Nebraska (two programs)
New Hampshire
New Mexico
New York
North Carolina
Ohio
Oregon
Texas
Vermont
Mississippi
Virginia
Illinois
Indiana
Kansas
We take the stress, anxiety, and confusion off your plate.
You spent time, energy, and money improving your career. Now it’s time to let Varela Financial save you time, energy, and money on your student loans.
Frequently Asked questions
Generally speaking, if you have more federal student loan debt than income, IDR could be an attractive option. It’s important to consult with an expert before making any financial decisions.
Unfortunately no. You’ll need to know what plans you qualify for, how those plans work, and what your individual case looks like mapped out within each option. If you end up choosing an Income-Driven Repayment plan, you’ll need to know how much of your loan will be forgiven at the end of your plan, if any. If you project out a forgiveness amount, you’ll need to know how much will be owed in taxes (this is your loan forgiveness tax bill). Lastly, you’ll need to create a separate savings plan to save for whatever your loan forgiveness tax bill is projected to be.
There are four Income-Driven Repayment plans: IBR09, PAYE, REPAYE, IBR2014. The last option is PSLF which is basically an “add on” to any of these options
It depends. Every case is different. Generally, you’d want to investigate this option if/when your monthly payments on a private loan would be lower than your payments on any of the federal repayment plans.
All Federal Direct Loans qualify for loan forgiveness on Income-Driven Repayment. The Federal Direct Loans are Grad Plus Loans and Stafford Loans
Choosing the right repayment plan can be tough. Don’t do it alone. Get professional help today!
The question is, should you put your entire life on hold and pay thousands of dollars a month for 5+ years? Or should you minimize your monthly payments so you can use your money in other areas of your adult life? This is what Varela Financial helps you figure out.