Tag: Student Loans

EP#49: The Burden of College Loans: One Woman’s Story

No Loan Zone
No Loan Zone
EP#49: The Burden of College Loans: One Woman's Story
/

On this episode of No Loan Zone, host Janet Maltbie brings on guest Kristyn Poltis to discuss the upcoming Supreme Court ruling on student loan forgiveness. Kristyn shares her own experience of taking out a student loan without fully understanding the impact it would have on her future. The discussion also covers strategies for making college more affordable, including choosing a lower-cost school or attending a career exploration boot camp. Listeners can learn more about the boot camp and other resources for debt-free degree completion by going to http://www.lifeworkcareerservices.com

EP#32: The ROI Factor: Getting a smart return on your college investment.

No Loan Zone
No Loan Zone
EP#32: The ROI Factor: Getting a smart return on your college investment.
/

Today on our program my guest is Joe Flinner. This week we look at ROI (Return on Investment): How to get a smart return on your college investment. Joe is the lead wealth advisor for Landing Point Financial Group in Avon Ohio. He earned a finance degree from Bowling Green University and is a Certified Financial Planner and a Certified Kingdom Advisor. 

Some quick tips on getting a smart return on a college investment: 

  1. College is expensive. Start early planning for college. Have small incremental conversations with your student regarding about how much money you can reasonably invest for college without burdening them with exorbitant debt. 
  2. A good rule of thumb is for every $10,000 in student loan debt, there will be about $110 a month in payment. So for a $40,000 loan, there will be about $440 a month in principle and interest payment on a standard 10 year loan.
  3. Look up what a starting salary is for the major. If the starting salary is $36,000 a year, don’t put yourself in a position where you owe $90,000 in college debt when you graduate.
  4. Have a conversation with a third party to determine what you want your contribution to the college plan to be. Do this before you have that conversation with your children. Its a really good opportunity to understand your financial balance sheet  and to understand what you can reasonably contribute to their education. 

Joe Flinner can be reached through http://www.landingpointfinancialgroup.com or by calling 440-361-7227.  And, if you’re unsure about your career direction and want help on completing a degree debt free you can reach me Janet Maltbie at http://www.noloanzone.com/contact. Janet meets with students and adults in transition so they can reach their career goals. 

EP#22: The 17 Year Old Brain

No Loan Zone
No Loan Zone
EP#22: The 17 Year Old Brain
/

Today we discuss with Neurologist Dr. Amanda Opaskar the adolescent  brain and why it is so important for them to get help and guidance as they make the most important financial decisions in their life, namely, taking out student loans.  

Is the average 17 year old really ready to make super consequential financial decisions on their own?  Do they really know what they are getting into when they sign on the dotted line? What is the adolescent brain like anyway and how does it differ from an adult brain? For answers to questions we’ll talk with Dr. Amanda Opaskar. 

Dr. Opaskar is a vascular and general neurologist at University Hospitals St. John Medical Center. The views expressed by Dr. Opaskar do not necessarily represent the views or opinions of university hospitals. The content is for informational purposes only and should not be taken as medical advice.