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Episode Summary
Today on Wealthy Wellthy Wise I interview Travis Hornsby. Travis is an expert on Student Loans. Since a good percentage of my listeners and clients have student loan debt — Travis helps educate and consult people on how to best structure their debt to meet their current financial situations as well as long-term financial goals.
In this episode, Travis shares the common pitfalls and simple loopholes that can save thousands of dollars in student loan interest. He gives us real world examples of everyday people suffering from student loan debt, and how unique student loan debt really can be. Travis outlines many different options for eliminating student loan debt faster, if you have student loan debt, you’ll want to know about them.
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What We Covered
- [1:42] Travis shares how he got into student loan debt consolidation
- [2:47] When Travis decide to turn student loan planning into a business
- [4:52] We Explore key differences between consumer debt and student loan debt
- [5:58] We learn an excellent loop hole for physicians suffering from student loan debt
- [8:05] Travis gives an example for couples with federal student loans
- [13:16] We see first hand how student loan debt consolidation is a very customized process
- [14:20] Travis gives us a high level overview of three types of clients showing how unique student loan debt can be
- [19:02] Retirement savings should never be forgotten in the debt consolidation process
- [20:32] Travis gives his philosophy on payment structures for paying back student loans
- [23:27] We cover an example of the typical graduate with student loan debt
- [26:01] Travis shares an excellent first step towards refinancing student loans
- [28:24] We breakdown key difference in risk between federal and private student loans
- [29:52] Travis shares insight for parents inheriting student loan debt
- [33:51] We learn about the exponential growth of student loans over the last 10 years
- [37:32] Travis tells an interesting story of one way a man attempted to escape his student loans
Tweetables
[Tweet “To me student loan debt is just so relaxing to look at.”]
[Tweet “The idea that you can’t discharge your student loan debt in bankruptcy is only partially true.”]
Links Mentioned
Get a free copy of Krisstina’s new book “Falling For Money” here
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