And, in a world where interest rates are rising quickly, the “easy” solution of refinancing older loans at a lower rate isn’t providing the same bang for the buck it once did, not to mention the fact that refinancing won’t make any sense for borrowers that recently took out loans while rates were at historic lows. Unfortunately, advisors are generally ill-equipped to provide student loan analysis and planning, because, unlike traditional debt, student loans - and federal loans in particular - are subject to a dizzying array of repayment options (each of which can result in significantly different outcomes for borrowers) and forgiveness programs, which in and of themselves, are stunningly difficult to navigate. As a wave of next-generation clients starts to seek out help managing their finances, one of the most common challenges that they face is a high level of student loan debt.
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