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In this episode of the Retire Early Retire Now podcast, host Hunter Kelly, a Certified Financial Planner, delves into strategies to manage student loan debt for high-income earners, particularly new doctors and attorneys. He discusses the importance of understanding the landscape of student loans, including federal and private loans, interest rates, and repayment statuses. The episode covers income-driven repayment plans, public service loan forgiveness, and loan consolidation or refinancing options. Hunter also emphasizes balancing debt repayment with other financial goals such as retirement savings and building an emergency fund, and offers practical tips for paying off debt faster. He encourages listeners to live modestly post-residency and automate payments to achieve financial freedom more efficiently.
00:00 Introduction to the Podcast
01:27 Understanding Student Loan Debt
03:45 Federal Loan Repayment Strategies
04:59 Public Service Loan Forgiveness Overview
06:16 Loan Consolidation and Refinancing
10:10 Balancing Debt with Financial Goals
14:27 Practical Tips for Faster Debt Repayment
16:52 Conclusion and Next Steps
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