Consolidate, refinance and repay student loans quickly!!!

100,000s of Thousands of Reasons Why you should consolidate, refinance and repay student loans quickly!!!

During the conversation today with two new clients (both Orthodontists), I asked them if they have any student loans. The answer I received was a very deep and energetic laughter.

About two weeks ago when I was attending the graduation ceremony at USC Dental School, I learned that the current total expenses for a DDS degree are about $500,000.

Also in the past 3-4 months, planning for recent DDS graduates, the range of student debt was somewhat between $300,000 to $800,000.

Well, schools and student loan lenders love DDS students and professionals. Since I want to keep the scope of this article on the financial side and repayment of student loans, I will spare you with great and beautifully describing the reasons and side effects.

One of my tasks when planning for DDSs is to plan properly to consolidate, refinance and repay student loans quickly to save money and start building wealth for my client ASAP.

Please see below for a sample repayment schedule. A simple and minor change can save you literally 100,000s of thousands of $$$$$.

LOAN AMOUNT  $        500,000.00  $         500,000.00  $         500,000.00  $          500,000.00
YEARS TO REPAY 30 20 15 10
RATE ANNUAL 7.50% 6.50% 6.00% 5.50%
MONTHLY RATE 0.63% 0.54% 0.50% 0.46%
MONTHS TO REPAY 360 240 180 120
PAYMENT  $            4,676.00  $             4,818.27  $             5,358.49  $              6,769.33
TOTAL PAYMENTS  $     1,683,360.00  $      1,156,384.80  $         964,528.20  $          812,319.60
INTREST PAID  $   (1,183,360.00)  $        (656,384.80)  $        (464,528.20)  $        (312,319.60)


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