Balancing tech wealth with smarter debt management.
Rachel and Ben, despite their combined $320,000 income, felt overwhelmed by their remaining $80,000 in student loan debt. They were hesitant to aggressively pay it down, fearing it would stifle their ability to invest in promising crypto and tech startups. Their current approach was ad hoc, lacking a clear strategy that aligned with their overall financial goals.
By using Golden Door Asset's Student Loan Calculator, combined with the Refinance Calculator and Student Loan Forgiveness Calculator, Rachel and Ben discovered they could refinance their loans to a lower interest rate, saving them thousands. The Student Loan Forgiveness Calculator showed they weren't eligible for federal forgiveness programs, prompting a focus on aggressive repayment. The analysis revealed a potential to save $18,000 in interest by refinancing and committing to a slightly higher monthly payment.
The advisor used the Student Loan Calculator to input Rachel and Ben's loan details, then integrated the Refinance Calculator to model different interest rate scenarios. Results were presented visually, highlighting the potential for significant long-term savings.
$18,000 in interest savings and a clearer path to early debt freedom.
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