What I Wish I Knew About Student Loans Before I Started: advice about debt, affordability, & payoff

TIME STAMPS:
0:00 - intro. the best way to manage student debt is to limit the amount of loans you take out in the first place.
1:06 - ask yourself, are you SURE you want to go to college? are you ready?
1:47 - consider alternatives like community college, taking a gap year, going to university abroad, going to trade school, or joining the military
4:34 - if you wait a few years, you will be an "independent student" on FAFSA, which could get you more financial aid
5:24 - thinking about grad school? same questions, are you sure? are you ready?
6:21 - ok YES I'm ready...
6:42 - affordability should be a top consideration & priority in your college decisions... what should you do if your dream school is too expensive?
8:00 - I recommend going to whichever college is most affordable
8:33 - finding an affordable school
9:20 - how much student debt can I handle?
11:46 - is an expensive school justified if it provides networking opportunities?
12:31 - when calculating your student loan payoff, imagine the worst case scenario. would you be able to handle payments while working a low(er) wage job?
12:58 - understanding your financial aid packages... federal loans (subsidized vs unsubsidized), parent plus loans, private student loans... what are the interest rates?
14:30 - a few examples of my financial aid packages (from LMU and NYU)
15:56 - what about applying to random scholarships?
17:07 - should you "live off" student loans while in college?
17:44 - another financial aid package example (my little brother at UCSB)
18:39 - while in college, pay the interest on your loans!!
19:11 - are you realizing your college is too expensive / isn't a good fit? I would recommend transferring (somewhere more affordable of course!)
21:31 - paying off loans... what is the average student loan debt? what are minimum payments?
22:25 - average grad school debt is much higher than undergrad
22:59 - pay more than the minimums! even if it's only a few dollars more per month.
24:06 - example of loan payoff if you pay $100 extra each month
25:39 - should you refinance or consolidate loans?? I don't know lmao
25:52 - what if student loan debt gets forgiven??
Should you refinance??? - https://www.nerdwallet.com/blog/loans/student-loans/student-loan-refinancing-faq/
Should you consolidate your loans? - https://studentloanhero.com/featured/should-i-consolidate-my-student-loans-consider-this/
student loan payoff calculator - https://www.nerdwallet.com/article/loans/student-loans/student-loans-extra-payments
Aja Dang's channel - https://www.youtube.com/channel/UCmiE7g4J3QXBwPUybbRdioQ

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