John interviews Robert Farrington, who runs the very popular website, CollegeInvestor.com, and is one of America's leading experts in understanding the full scope of student loan debt. On the show they talk about how we as a culture ended up at this point, with over $1.5 Trillion in student loan debt outstanding. Also, Robert shares some times for parents with kids who are thinking about college in the future and the strategies for understanding what money is available. As well as what post grads should do if they find themselves in a lot of student debt after college.

 

Episode Highlights:
Robert Farrington talks about his background and why understanding student loans has been such a meaningful topic to him.
How does Robert believe that we have arrived at this massive college loan debt problem?  
What are some dos and don’ts for parents that have kids preparing to pay for college? 
Set college financing expectations between parents and students early. 
What are some ways to pay for college before loans? 
College is an investment and we need to think of school as needing a return-on-investment.   There are alternative education options for students for whom college may not be an appropriate option. 
Community colleges for the first two years can keep costs down. 
Robert Farrington talks about FAFSA application process for scholarships and grants. 
How should the average 25-30-year-old do to prioritize repaying their student loans?  
Repaying your student loans is the best thing you can do. Your income will get better. 
How should students approach the income-driven repayment plans?
Take ownership over your college loan repayment strategy.  

 

3 Key Points:
There is almost $1.6 trillion dollars in college loan debt. 
Before taking out loans for college, first consider: parents saving, kids saving, college savings plans, scholarships, grants, work study programs and fellowships, 
Community college transfers are actually the highest graduation rate from a four-year college by like 10% more, with an almost 78% graduation rate. 

 

Tweetable Quotes:
“I started the College Investor when I was done with college. I really wanted to talk about investing and other money topics. But then I was one of these student loan borrowers that started having issues.” – Robert Farrington
“As long as there is the ability to borrow limitless dollars to pay for college, colleges can raise the price to pay for things and pass that cost onto students.” – Robert Farrington
“By the time they are in 9th or 10th grade, they should have a clear picture on what mom and dad are going to pay for college and what is expected of them.” – Robert Farrington

 

Resources Mentioned:
Linkedin: John Chapman
Robert Farrington: Linkedin
The College Investor: thecollegeinvestor.com
StudentLoans.gov: studentloans.gov
LoanBuddy: loanbuddy.us

John interviews Robert Farrington, who runs the very popular website, CollegeInvestor.com, and is one of America's leading experts in understanding the full scope of student loan debt. On the show they talk about how we as a culture ended up at this point, with over $1.5 Trillion in student loan debt outstanding. Also, Robert shares some times for parents with kids who are thinking about college in the future and the strategies for understanding what money is available. As well as what post grads should do if they find themselves in a lot of student debt after college.
&nbsp;
Episode Highlights:
<ul>
<li>Robert Farrington talks about his background and why understanding student loans has been such a meaningful topic to him.</li>
<li>How does Robert believe that we have arrived at this massive college loan debt problem?&nbsp;&nbsp;</li>
<li>What are some dos and don&rsquo;ts for parents that have kids preparing to pay for college?&nbsp;</li>
<li>Set college financing expectations between parents and students early.&nbsp;</li>
<li>What are some ways to pay for college before loans?&nbsp;</li>
<li>College is an investment and we need to think of school as needing a return-on-investment. &nbsp; There are alternative education options for students for whom college may not be an appropriate option.&nbsp;</li>
<li>Community colleges for the first two years can keep costs down.&nbsp;</li>
<li>Robert Farrington talks about FAFSA application process for scholarships and grants.&nbsp;</li>
<li>How should the average 25-30-year-old do to prioritize repaying their student loans?&nbsp;&nbsp;</li>
<li>Repaying your student loans is the best thing you can do. Your income will get better.&nbsp;</li>
<li>How should students approach the income-driven repayment plans?</li>
<li>Take ownership over your college loan repayment strategy.&nbsp;&nbsp;</li>
</ul>
&nbsp;
3 Key Points:
<ol>
<li>There is almost $1.6 trillion dollars in college loan debt.&nbsp;</li>
<li>Before taking out loans for college, first consider: parents saving, kids saving, college savings plans, scholarships, grants, work study programs and fellowships,&nbsp;</li>
<li>Community college transfers are actually the highest graduation rate from a four-year college by like 10% more, with an almost 78% graduation rate.&nbsp;</li>
</ol>
&nbsp;
Tweetable Quotes:
<ul>
<li>&ldquo;I started the College Investor when I was done with college. I really wanted to talk about investing and other money topics. But then I was one of these student loan borrowers that started having issues.&rdquo; &ndash; Robert Farrington</li>
<li>&ldquo;As long as there is the ability to borrow limitless dollars to pay for college, colleges can raise the price to pay for things and pass that cost onto students.&rdquo; &ndash; Robert Farrington</li>
<li>&ldquo;By the time they are in 9th or 10th grade, they should have a clear picture on what mom and dad are going to pay for college and what is expected of them.&rdquo; &ndash; Robert Farrington</li>
</ul>
&nbsp;
Resources Mentioned:
<ul>
<li>Linkedin:<a href="https://www.linkedin.com/in/johnchapmannewportbeach/"> John Chapman</a></li>
<li>Robert Farrington: <a href="https://www.linkedin.com/in/robertfarringtonmba">Linkedin</a></li>
<li>The College Investor: <a href="https://thecollegeinvestor.com/">thecollegeinvestor.com</a></li>
<li>StudentLoans.gov: <a href="https://studentaid.gov/">studentloans.gov</a></li>
<li>LoanBuddy: <a href="https://www.loanbuddy.us/">loanbuddy.us</a></li>
</ul>

The John Chapman Show is your source for retirement strategies to help you better manage your time and money. Pre-retirees face some major headwinds: ultra low interest rates, high stock valuations, increasing healthcare costs and longevity, and the ever changing tax and estate laws. If you're planning to retire within the next 10 years, are you on track to attain financial independence? Host, John Chapman, is a CFP® and Partner at WorthPointe, a boutique wealth management firm helping clients get the most from life with the money they do have. For more information, you can check out www.thejohnchapmanshow.com. 

The John Chapman Show is your source for retirement strategies to help you better manage your time and money. Pre-retirees face some major headwinds: ultra low interest rates, high stock valuations, increasing healthcare costs and longevity, and the ever changing tax and estate laws. If you're planning to retire within the next 10 years, are you on track to attain financial independence? Host, John Chapman, is a CFP&reg; and Partner at WorthPointe, a boutique wealth management firm helping clients get the most from life with the money they do have. For more information, you can check out <a href="http://www.thejohnchapmanshow.com">www.thejohnchapmanshow.com</a>.&nbsp;

The John Chapman Show Podcast

Planning to retire in the next 5-10 years? Want to ensure you are retirement ready? 

The John Chapman Show is your source for retirement strategies to help you better manage your investing, tax, insurance and estate planning.  

Pre-retirees biggest risks lie in not just investing the wealth they’ve built, but also in maintaining an up to date and secure financial plan as life changes. 

As you make the final push in your working career, be sure to stay on track with your financial plan so that ultimately you get the MOST from life with the money you do have. 

Host, John Chapman, is a CFP® and Partner at WorthPointe, a boutique wealth management firm helping clients gain financial peace of mind.

Planning to retire in the next 5-10 years? Want to ensure you are retirement ready?&nbsp;
The John Chapman Show is your source for retirement strategies to help you better manage your investing, tax, insurance and estate planning.&nbsp;&nbsp;
Pre-retirees biggest risks lie in not just investing the wealth they&rsquo;ve built, but also in maintaining an up to date and secure financial plan as life changes.&nbsp;
As you make the final push in your working career, be sure to stay on track with your financial plan so that ultimately you get the MOST from life with the money you do have.&nbsp;
Host, John Chapman, is a CFP&reg; and Partner at WorthPointe, a boutique wealth management firm helping clients gain financial peace of mind.

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