How to Capitalize On Record Low Student Loan Rates

<p>Interest rates are super low right now, so learn how to navigate student loans to take full advantage of unique benefits from the federal government.&nbsp;</p> <p>In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about what you can do&mdash;given the low-interest rates&mdash;in relation to your student loan debt.&nbsp;&nbsp;</p> <h3><strong>Topics Discussed:</strong></h3> <ul> <li>Federal and Private: Student loan types</li> <li>10-Year Treasury Yield: What drives federal student loan interest rates</li> <li>Refinance? Not an option with federal student loans</li> <li>Private Student Loan Rates: Based on financial requirements; no closing costs</li> <li>Prime and LIBOR: Interest rate indexes are trending down</li> <li>Considerations: Refinance from federal to private student loans? <ul> <li>One-time Option: You can&rsquo;t go back&mdash;once you&rsquo;re out, you&rsquo;re out</li> <li>Interest Subsidies: <ul> <li>Unpaid: Federal student loans don&rsquo;t charge interest on existing interest balance</li> <li>RePAYE: At least half of monthly accrued interest that is unpaid, is forgiven by the government</li> </ul> </li> <li>20- or 25-Year Forgiveness: Income-based or income-driven repayment plans where the remaining balance is forgiven at end of the time period</li> <li>COVID Forbearance: 0% interest and zero-required payments on all loans owned by the federal government</li> <li>Refinance Waterfall: As you pay off the private student loan, consider a new refinance; shorter the term, better the interest rates</li> </ul> </li> </ul> <p><strong>Links:</strong></p> <p><a href="https://www.macrotrends.net/2016/10-year-treasury-bond-rate-yield-chart">Historical 10-Year Treasury Yield</a></p> <p><a href="https://studentaid.gov/understand-aid/types/loans/interest-rates">Current Federal Student Loan Rates</a></p> <p><a href="https://www.whitecoatinvestor.com/student-loan-refinancing/">WCI Student Loan Refinancing</a></p> <p><a href="https://www.jpmorganchase.com/about