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What I Wish I Knew About Student Loans Before I Started: advice about debt, affordability, & payoff

What I Wish I Knew About Student Loans Before I Started: Advice About Debt, Affordability, & Payoff

0:00 – intro. the best way to manage student debt is to limit the amount of loans you take out in the first place.
1:06 – ask yourself, are you SURE you want to go to college? are you ready?
1:47 – consider alternatives like community college, taking a gap year, going to university abroad, going to trade school, or joining the military
4:34 – if you wait a few years, you will be an “independent student” on FAFSA, which could get you more financial aid
5:24 – thinking about grad school? same questions, are you sure? are you ready?
6:21 – ok YES I’m ready…
6:42 – affordability should be a top consideration & priority in your college decisions… what should you do if your dream school is too expensive?
8:00 – I recommend going to whichever college is most affordable
8:33 – finding an affordable school
9:20 – how much student debt can I handle?
11:46 – is an expensive school justified if it provides networking opportunities?
12:31 – when calculating your student loan payoff, imagine the worst case scenario. would you be able to handle payments while working a low(er) wage job?
12:58 – understanding your financial aid packages… federal loans (subsidized vs unsubsidized), parent plus loans, private student loans… what are the interest rates?
14:30 – a few examples of my financial aid packages (from LMU and NYU)
15:56 – what about applying to random scholarships?
17:07 – should you “live off” student loans while in college?
17:44 – another financial aid package example (my little brother at UCSB)
18:39 – while in college, pay the interest on your loans!!
19:11 – are you realizing your college is too expensive / isn’t a good fit? I would recommend transferring (somewhere more affordable of course!)
21:31 – paying off loans… what is the average student loan debt? what are minimum payments?
22:25 – average grad school debt is much higher than undergrad
22:59 – pay more than the minimums! even if it’s only a few dollars more per month.
24:06 – example of loan payoff if you pay $100 extra each month
25:39 – should you refinance or consolidate loans?? I don’t know lmao
25:52 – what if student loan debt gets forgiven??

Should you refinance??? –
Should you consolidate your loans? –
student loan payoff calculator –
Aja Dang’s channel –

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What I Wish I Knew About Student Loans Before I Started: advice about debt, affordability, & payoff


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