STUDENT LOAN AND FINANCIAL BEST PRACTICES FOR 2019 SGU ...

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´╗┐STUDENT LOAN AND FINANCIAL BEST PRACTICES FOR 2019 SGU MEDICAL SCHOOL GRADUATES

Presented by Jason DiLorenzo Founder & Executive Director

Agenda

SGU Graduate Profile Repayment Marketplace Overview Loan Forgiveness and Legislation Update Payment & Savings Case Studies Refinancing vs. Consolidation Training "Exit Interview" Budgeting and other Financial Considerations Available Resources, Q&A

Changes in Student Debt Levels

Debt levels have quadrupled in the last 20 years

$378k ~$361k

~$50k

~$100k

1993

2000 SGU 2017 SGU 2018-19

Physician Salaries by Specialty

? Anesthesia: ? Emergency: : ? Family Medicine: ? IM, General: ? OBGYN: ? Pediatrics: ? Psychiatry: ? Surgery, General: ? Surgery, Neuro:

$250k $280k $183k $185k $219k $167k $208k $328k $680k

Your future salary and sector of

employment should inform your action

plan NOW

Your Loan Portfolio

Federal Loans: (Stafford, Grad PLUS) ? Federal Stafford: Fixed Rate 6.6% (since July 1st 2018) ? Unsubsidized: all interest accrues ? Direct Graduate PLUS: Fixed Rate 7.6% (all interest accrues)

Private Loans: ? Generally not as competitive as federal loans for students ? Sometimes necessary for residency search (relocation) or other expenses not related to education ? Interest rates vary, can be fixed or variable

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