b'# 4 IDR versus refinancing? Crunchif you refinanced. If the balance of yourFind one who does; its worth it to work with the numbers. Many of the questionsloan is forgiven, its important to knowsomeone who has experience in this area.that we get are around should I staythe forgiven amount may be treated on an income-driven repayment plan oras ordinary income and be taxable inAbout Treloar & Heisel refinance? Valid question, especiallyaddition to your existing income.To thatTreloar & Heisel offers dental and medical with interest rates as low as they areend, you may be stuck with a large taxprofessionals a comprehensive suite of now (2021). You need to consider severalbill that will need to be paid out of yourfinancial products and services ranging factors.Lets say you refinance yourexisting assets.from business and personal insurance loan, the cost is going to be the interest#6 Understand the differenceto wealth management. We are proud to that you pay on it, and the length of loanbetween consolidation andassist thousands of clients from residency repayment is typically fixed. However, withrefinancing. Consolidation combinesto practice and through retirement. Our income-driven repayment, calculatingexperienced teams deliver custom-tailored cost becomes more complex, becauseyour outstanding loans and allow youadvice through an active local presence, the cost is dependent on your income andto make a single payment based on awhile our strong national network ensures its growth over the course of your career.weighted average interest rate roundedthat clients experience the same high level Youll need to make some assumptionsup by 1/8th percent. It typically doesof service throughout the country. For more (which may or may not hold over time).not reduce how much interest you pay.information, visit us at treloaronline.com.Also, certain IDR plans will cap yourConsolidation may make sense in certain monthly loan payments at your Standardsituations. Beware of companies offeringTreloar & Heisel, Treloar & Heisel Wealth 10-year amount, one of the exceptionsto consolidate your loans for a fee. TheseManagement, and Treloar & Heisel Risk being Revised Pay As You Earn (REPAYE).are often a scam. You should alwaysManagement are all divisions of Treloar & There is no maximum monthly paymentwork directly with your loan servicer andHeisel, Inc. for REPAYE. If your income increases totrusted advisor to make changes to your this level, you may pay your loans off atrepayment plan. Refinancing on the otherInvestment Advice offered through WCG a much higher interest rate compared tohand, entails finding a lender that will payWealth Advisors, LLC, a Registered refinancing. off your federal loans, and then issuingInvestment Advisor doing business as Treloar you a new loan with a certain interest& Heisel Wealth Management. Treloar & #5 Dont assume forgiveness. Income- rate, whether fixed or variable, for aHeisel Wealth Management is a separate Driven Repayment plans will forgive anycertain duration of time, known as theentity from The Wealth Consulting Group and outstanding loan balance remaining afterterm of the loan. WCG Wealth Advisors, LLC. 20-25 years depending on the plan.#7 Work with an advisor who isInsurance products offered separately through Theres no guarantee that will happen.educated on student loan repaymentTreloar & Heisel and Treloar & Heisel Risk Your income may increase enough thatplans and who knows your fieldManagement. your loans will be repaid in full prior to receiving any forgiveness, often at a higherof study. Not all financial advisorsTreloar & Heisel, Inc., Treloar & Heisel Wealth interest rate (more costly) compared tounderstand the complexities of studentManagement, and WCG Wealth Advisors, LLC loan repayment in the field of dentistry.do not offer tax or legal advice.AAP Periospectives| 25'