Thoughts From a Student Loan Hero

5
4003
martinis and your money

Thoughts From a Student Loan Hero

Today on the podcast, I am talking to Andy Josuweit, CEO of the company Student Loan Hero. Student Loan Hero is an amazing website with tools and calculators to help you understand your student loans and manage them better. With more than 60% of graduates graduating with student loan debt, this is an important topic for many people, and managing and understanding your student loan debt is key for your overall financial health.

What Are We Drinking?

Andy and I both chose to have vodka drinks. He is drinking Tito’s and I am drinking Deep Eddy’s.

Podcast Notes
  • Andy graduated in 2009 with over $100,000 in undergraduate student loan debt
  • Student Loan Hero allows you to input your personal and student loan information and they give you upwards of 70 different repayment options at no cost to you
  • Andy shares best practices for dealing with student loan debt once you graduate
    • Make sure your information is up to date and that your bills can be sent to you
    • Don’t sign up for online statements, make sure you actually receive the paper mail to keep you mindful of your payments
    • Consider your repayment options based on your current financial state
  • Andy shares his opinion on paying off student loans vs. building wealth
  • Shannon shares her opinion on paying off student loans vs. building wealth
  • Andy discloses where he’s at with his student loan repayments and the mistakes that he made throughout the repayment process
  • Andy shares how he thinks we can combat the growing student loan problem
Random 3 Questions Andy Answered
  1. How many triathlons have you completed and what’s your favorite one?
  2. What’s your favorite city to visit?
  3. If you have to be stuck in an elevator with someone who would it be and why?
Do you have student loan debt? If so, how much and how long do you think it will take you to repay it? If not, how did you avoid it?
SHARE
Previous articleMusic Mondays – Vacation
Next articleFrugal and Fabulous Replay
Shannon is a financial planner who left a “traditional” financial services firm to start her own company, The Financial Gym, because she felt traditional financial services firms did not have the tools or resources to help people in their 20s and 30s who are starting out and trying to build assets while also managing debt. She realized that the key to long-term personal financial success is a commitment to financial fitness and making smart financial choices. Through her blog, Financially Blonde, her book, Train Your Way To Financial Fitness, her podcast, Martinis and Your Money and The Financial Gym, Shannon is committed to making financial fitness fun, easy and accessible for everyone.

5 COMMENTS

  1. I graduated in June 2009 with ~27k in debt (thank you parents, scholarships, part time jobs, and 3 paid 6 month co-ops).
    I paid it off in December of 2012, so that’s 3.5 years. It’s funny going back through my e-mails to find this info. My daughter was born 11/4/2012. On 11/19/2012 I told my wife we’d be done in June 2013. Finally, on 12/3/2012 we said “fuck it” and got rid of the loans. We were on the fence about putting the chunk of money into our Roth IRAs or paying off the loans.

    I’m 100% thrilled we made this decision. Holy crap did that feel great. Even the lady on the phone seemed like she was genuinely happy for me. She must have the best CS job in the world! We celebrated with wine that night. 🙂

  2. Great show Shannon and Andy. The looming student debt crisis will be coming at some point… the impact and magnitude that it has on our country and fellow peers can be averted somewhat by the information you have on Student Loan Hero.. Just have to get the word out!!!

    Love that you have some experience in Triathlons… Most entrepreneurs have what it takes to race… I’ve done over 100 races from Sprint to full IM… They are not hard in my opinion but do require time and patience with training as it becomes a part time job at the longer distances.

    Just get back on the bike saddle and hammer out some miles… It’ll bring you back.. 🙂

    cheers!!

  3. Great show. Really like Student Loan Hero it’s been a consistently good resource for me. Since I went to professional school, my student loans are substantial but I plan to pay them down as quickly as possible by attacking the current highest interest loan and moving down the list. I recently was able to refinance one of my higher rate loans, which will save a good amount of interest over time.

  4. Based on experience, I started with paying all debts first such as student loan before embarking in building wealth. Though it took me more than 5 years to pay it off and tested my patience and determination, it was really worth it later on as my focus was only on saving, nothing more nothing less. And, what I have been doing now is never to be in great debt again.

  5. Yes, I do have student loan debt and quite a bit of it. My wife and I are actually set on paying for a majority of our kid’s undergrad so that they don’t have to deal with the burden of loans after graduation.

Leave a Reply