How to Attack your Student Loans Debt | Refinance
You are probably looking at your massive student loans right now, thinking to yourself, “How the heck did I take this much out? This is the price of a freaking house”. The sad reality is that the average optometry student take out a whooping average of $200,000 for optometry school and will likely be in debt for the next 20 years.
The United state student debt crisis exceeds $1.3 trillion for 2018 and has been an epidemic in society, shunting the growth of many young professionals. This forces new and talented doctors to live at home with their parents because they cannot to afford to pay rent or begin to think about buying a house. This in turns, delays this young generation in starting a family simply because they can’t barely take care of themselves.
What do most optometrists normally do? Pay the minimum amount for 20+ years, hoping that our government will miraculously forgive their loans after 20-25 years. This is sadly the norm. Don’t be normal, normal sucks. Normal people don’t get rich or become wildly successful.
It is okay. Take a deep breath. Relax. I know it feels overwhelming at times but we are going to help you through this. We are going to walk you the step needed in tackling with your student loans.
The Optometrist's Guide to Student Loans
- Chapter 1: Harsh Reality
- Chapter 2: Federal Programs
- Chapter 3: Loan Forgiveness
- Chapter 4: How to Refinance
How to Eliminate Debt and What should I do first?
What Should I Do First? A Complete Step-By-Step Guide For Optometrists
Here is a “Guideline” list of financial steps that we hope will get you started, but should be adjusted to your own personal situation as an optometrist.
2024 Optometrist Income Report
With increasing student loan debts, an ever changing economy, and a profession that continues to withstand disruption – many optometrists begin to question their associated worth as practitioners. While the old phrase “comparison is the thief of joy” rings true in certain facets, comparison to get a true sense of trends in salary, debt load…
The Optometrist’s Guide To Student Loan Refinancing
Optometrists often accumulate multiple loans from federal and private lenders to fund their doctor education, which results in an average debt load of $220,000. The majority of these loans are federal loans which have an average interest rate of 5.5-6.8%.Then the majority of doctors will end up refinancing their student loans to save thousands of dollars in interest. Here is your comprehensive guide to the student loan refinancing process and understanding how underwriting works.
16 End-of-Year Financial Checklist For Optometrists in 2023
As 2023 draws to a close, it’s vital for optometrists to focus on financial planning for a stable and prosperous future. This checklist, designed for eye care professionals, will guide you through key year-end financial tasks. While not every item may apply to your practice or personal finances, reviewing each one ensures you don’t miss important opportunities or obligations.
Overcoming $153,242 Student Loan Debt in Four Years Working in Corporate Optometry
Hello, I’m Dr. Ayana Pierre O.D, and I graduated from NSU in May 2019. I chose the path of corporate optometry and currently practice in Central Florida. Working about 4.5 days a week, I’ve been fortunate to earn a gross income of approximately $250,000 last year. This achievement has been a blessing, providing me with not just financial stability but also the flexibility to manage my schedule effectively.
The Holland’s Journey: Paying off $660,000 Student Debt in 5 1/2 Years
We want to share our stories to help other young optometrists who are struggling with their student loans. We are both practicing optometrists and managed to overcome a massive obstacle together: paying off $660,000+ in student loans in just 5 1/2 years. Sounds impossible right? But let’s start from the beginning.
UPDATE: Must-Read Strategies to Tackle Optometry Student Debt
After an enduring three-year period, the final COVID-19 student loan forbearance is drawing to a close on August 30, 2023. Recognizing the natural apprehension that some optometrists might be feeling as this date nears, our team has been working tirelessly to develop strategies to support all our borrowers, especially new graduates stepping into the workforce!
Conquering a Mountain of Debt: Paying off $242K in 7.5 Years on an Starting Salary of $85K as an Optometrist
Over 7.5 years, Ada Noh cleared her substantial student loan of $242K on a beginning salary of $85K by adopting a frugal lifestyle and engaging in optometry-related side gigs.
June 2023 Market Update for Optometrists: Latest Economic & Financial Trends
Welcome to the June 2023 market update, where Aaron and myself will provide you with an overview of the latest economic trends and developments, including what we as optometrists should watch out for and how we should adjust our investing plans.