Student Loan Management Physicians often top the list of highest paid occupation, but they incur enormous amounts of debts on the way there. In 2010, the average medical student had student debt exceeding $200,000 according to an article by USNews.com. However, the physician's student loan debt can be managed to improve payment options and lower interest rates.We help physicians to develop comprehensive financial plans to assist them in managing their student debt. In many cases, physicians can take steps to reduce their total amount to pay off amounts by thousands of dollars over the life of the loans.Managing your loansDefermentStudent Loan deferment is a tool that physicians can use to assist with cash flow, debt management and financial planning. Physicians may request deferment during time of economic hardship or when enrolled in an approved graduate fellowship program. During deferment, no interest accrues.ConsolidationOne of the most effective student debt management tools is consolidation. Physicians who consolidate benefit from lower monthly payments and lower interest rates. They also benefit from having only one payment each month. Consolidation can be a powerful debt management tool. A financial advisor who specializes in physicians' needs can help determine if and when consolidation makes sense for a physician. If you need help evaluating the decision to consolidate your student loans, contact us for a Student Loan Management consultation. During the consultation we will consider the impact of consolidation on the following terms of your loans:Interest rateRepayment Schedule/Monthly PaymentTotal Repayment AmountHidden Fees/ChargesGrace, Deferment, ForbearanceInterest SubsidyEarly Payment PenaltyRepayment IncentivesCancellationServicerProcessing TimeLet us help you create a comprehensive financial plan that incorporates the management of student debt in a way that works with your goals. Contact us today for a consultation and we'll show you which options can work with your goals.