Jared Fenlason

Husband, Father, Financial Advisor/Educator for early-career physicians

[Jared Fenlason @JaredFenlason]

@olsonplanner @oddly_ivy @LaurelRoad Yes. In past experience these loans are hard to consolidate. You have to find a lender willing. Plus personal loans have higher rates then student loans. It’s best to find a lender that can do it as a student loan.

[Jared Fenlason @JaredFenlason]

@olsonplanner @oddly_ivy @LaurelRoad It sounds like they went to a non-Title Title 4 school, in which case, the usual lenders will not allow them to refinance their loans. Unfortunately, they need to look into the lenders that work with the school to refinance, or try Citizens Bank. They might be able to help.

[Jared Fenlason @JaredFenlason]

@StudentLoanAdv @olsonplanner The other side of this are new interns that signed up for SAVE just to be put in process forbearance that is running out. Now they have to sit on hold for hours just to ask to go back into forbearance.

[Jared Fenlason @JaredFenlason]

@StudentLoanAdv @olsonplanner Are you seeing clients who actually have a recertification date right now? most of what I am seeing has been moved to 2026.

[Jared Fenlason @JaredFenlason]

@olsonplanner To sign up for IBR, you have to be in financial hardship. If you have filed a tax return with your in-practice income, it may be hard to qualify. This might be a good reason to delay filing taxes for recent grads.

[Jared Fenlason @JaredFenlason]

@olsonplanner @StudentLoanAdv @s_brownie I don’t think we can be confident or either way. The only sure thing is there will be changes. Our job as planners are to have level heads and not be rash. Just like in investing speculation can lead to bad outcomes.

[Jared Fenlason @JaredFenlason]

@StudentLoanAdv @s_brownie @olsonplanner The hope is they bring back PAYE and REPAYE and we can just go back to the old plans.

[Jared Fenlason @JaredFenlason]

@StudentLoanAdv @s_brownie @olsonplanner This post n Tyler’s are borderline fear mongering. Yes it looks bad for SAVE. But for PSLF to change you would have to have Congress pass a change because it is written in the law. The president can propose changes to PSLF. While Trump didn’t not do during his last term.

[Jared Fenlason @JaredFenlason]

@StudentLoanTrav We added the loans. We just can’t pick the repayment option. The IDR plans don’t come up and when you click the standard, extended or graduated option it doesn’t give you choices. I assume it’s a bug because of the LDS loans. Hoping you had a work around beside paper app.

[Jared Fenlason @JaredFenlason]

@StudentLoanTrav Do you know why LDS loans can not be consolidated on the DoE website? Is using the paper app the only way to do this consolidation?

[Jared Fenlason @JaredFenlason]

@olsonplanner @gregorythomp Yes! Even tho I do see benefits for some who might not be pursuing PSFL now because of the subsidy with SAVE and higher affective interest rates in HYS account. Keeping payments low in training while saving cash for other priorities.

[Jared Fenlason @JaredFenlason]

@olsonplanner @gregorythomp I would add MFS for someone in this situation who lives in a community property state makes the most sense… cuts income in half and not a huge tax burden. Lowering the payments and getting more forgiven.

[Jared Fenlason @JaredFenlason]

@olsonplanner @bbheinz Some loans cannot be consolidated until your school flips your status from in school to graduated. I would confirm with financial aid if they know when this date will be.

[SpaceX @SpaceX]

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[Jared Fenlason @JaredFenlason]

@JeffSteinerDO @olsonplanner @DavidG_CSLP This has happened with many of my clients! Having them escalate to a supervisor is the only way we have resolved it. With a reminder from the regs about the pause that say no one is required to rectify their income during the pause.

[Jared Fenlason @JaredFenlason]

@DreamBiggerLLC @olsonplanner I often find it hard for some to purchase DI with CC debt. Even tho it may make financial sense. It is still hard for some to divert the income monthly when they are in the debt repayment mindset.

[Jared Fenlason @JaredFenlason]

@DreamBiggerLLC @olsonplanner I am curious to hear your reasoning of putting 403b match and DI ahead of CC debt.

[Jared Fenlason @JaredFenlason]

@AllDramaLlama @olsonplanner I agree there is a lot of unknowns 5-7 year out of training. Most physicians won’t have and AGI over $300k. Only some specialists and dual doc couples. I still think math works for most to be on REPAYE/SAVE especially in training. Then switch to New IBR if needing the CAP

[Jared Fenlason @JaredFenlason]

With the announcement of the new IDR plan SAVE. Refinancing right after training might not be the best option. You may want to wait a year or two until the 100% interest subsidy is no longer beneficial.