One of the most common things that I hear from lawyers who are contemplating changing careers is that they are worried about how to manage their student loans. So today on the podcast, I’m sharing the audio of a workshop that Lauryn Williams, a consultant with Student Loan Planner, presented to the Collaborative last month all about student loan debt considerations for lawyers.

Lauryn has been a consultant for Student Loan Planner for nearly two years. She is a former Olympian and the first American woman to medal in both summer and winter Olympic games. After having several bad experiences with financial planners during her time as an Olympian, she decided to take matters into her own hands and became a Certified Financial Planner™ herself. In 2016, she opened her own financial planning consultancy, Worth Winning.

Student Loan Planner was started by Travis Hornsby in October 2016 after he helped his wife and her friends figure out their six-figure student loans. When he and his wife first tackled her debt from medical school, there weren’t a lot of resources out there for professionals like her. Travis used to be a bond trader, so he took his excel heavy skill set and built models for how to save money paying back student debt. Now Student Loan Planner helps all types of professionals figure out how to best approach paying back their student loans.

In this workshop, Lauryn shares about:

  • Why paying off your loans as quickly as possible is often a bad financial strategy.
  • The different types of repayment plans, and why which plan you’re on really matters.
  • The biggest mistakes people make when applying for student loan forgiveness.
  • A method for roughly determining which avenue of loan repayment you should follow.
  • Various student loan debt scenarios and how they play out for lawyers in different types of jobs.
  • When you really should not be paying extra on your loans.

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