Private Student Loan Benefits and Pitfalls with $Pro Meagan Landress #068

people need that much help with it. There's a hashtag for student loans suck there. All right, let's proliferate that like mad. We'll do it. Megan, so real quick. Have you ever had any student loans? We've you know, we spent the entire last episode talking about student loans. Is this something that you have personal experience with? No? Actually I don't. And that's why a lot of my friends and my family don't really understand why I'm so crazy

about student loans or I'm so interested in them. I went to Kennesaw State University, so born and raised in Georgia, never left went to Kinnesaw state. At the time I went, it was a very affordable option for me. I had the Hope Scholarship which helped with tuition, and I worked full time, so I did pay for my my housing up there and my expenses. So I did not graduate

with student loans fortunately. But like on the last episode I mentioned, I work with a lot of folks who have student loan debt in the mix that really affects their financial plan and delays a lot of decisions or savings goals or just financial goals that they have in the mix. So I'm really passionate about helping people navigate their repayment strategy to get them on a faster track

to achieving their financial independence. Yeah, that's great. I feel like you are probably like the younger female version of myself because I went to Kinnessaw State as well at

the scholarship. Actually, my first two years I went to a private college out of state, and I racked up some student loan debt there and decided, based on the fact that I didn't want to accrue anymore and I wanted to graduate with a reasonable amount that I could pay off in a shorter amount of time, I said, Okay, I'm going back in state, like, why did I leave in the first place. I mean, I was glad I did. I felt like the first two years that private school

were formative years for me. I learned a lot and made some important relationships. I wouldn't go back and do it over. But I'm also glad that I left and I capped the amount that I borrowed because uh, some states, like Georgia Tennessee has a free college program for community colleges for people in their state. There are a lot more state based programs happening now to um incentivize people to stay in state at colleges and whether it's community

colleges or public colleges in that state. UM, I'm a big fan of that, and I think, uh, the federal government has not been able to to make anything happen when it comes to free college for all. And I don't know if that's good or bad, depends on your political meaning, but I'm super glad that a lot of states are kind of taking that under their wing. And man moving back into the state of Georgia, you megan

graduated with no student loans. I graduated with not nearly as much as I could have because of that, and I gotta say I'm super thankful for that. Yeah, you mentioned Hope scholarship. Guys, that's something I was able to take advantage of as well, just barely. I almost lost it several times. But having that as an option for me was was incredible. So very lucky to have had

that as an option. But you know, as a bigger question, like the fact that student loans exist, we talk about it like it's this terrible thing and it can be right the way that they're given out and there's very little information being disseminated and taught to new borrowers. However, being informed and finding a way to manage those student loans, that is a completely different story. That's a completely different task and something that involves two full episodes of talking

about in order to try to unpack. So we're excited to have Megan back on this week. But before we dive into the topic, let's go ahead and talk about the beer. Let's do it, Matt. So, my buddy Jeff at my local package store, he actually just gave me this beer, which was super sweet. Yeah, So Jeff the man, he's a good friend, and we text that's how good. That's a good friends we are. That's how well. I know the beer guy at my local beer story and

he's like a beer Somali. Yes, yes he is. And so he had this bottle sitting in the back storage room. And this is a five year old beer. It's by Westbrook Brewing Company out of South Carolina. They're just right outside of Charleston. And this is a red wine barrel aged Belgian style quad. This was aged for three years in red wine barrels. Yeah, so super cool. We'll give our thoughts. All three of us are drinking this beer, will give of our thoughts at the end of the show.

And by the way, if you didn't catch last week's episode, that's where Megan showed up with a beer. So mean right, I'm glad we can return the favor and you can enjoy with our beers. Yeah, definitely, this is up my alley. Awesome. We did something different with our money pro show. And normally we have a friend of ours submit five minutes of distilled wisdom about one topic. But Matt and I decided that the topic of student loans, well, not only is it big enough that we couldn't consolidate it to

five minutes, but we needed a whole show. We actually needed two whole shows with an expert. And we also wanted to answer your listener questions, and so we took those on our Facebook page. You can find that if you at a Facebook dot com and you type in how to money in the search bar, you can find our group. And that group is an awesome place to ask questions, to to solicit advice, and where everyone kind

of helps each other out. And so we said, you know what, let's answer a bunch of listener questions because everyone's situation is a little different and it kind of helps us understand and answering those specific questions kind of helps us understand a little bit better the specifics of how student loans work, because there are a lot of

specifics and it's hard to summarize succinctly. And today we wanted to cover the considerations and potential pitfalls of private student loans and if you should consider refinancing or not. And so let's kind of give some rule of thumbs. Megan, you've kind of want to start us off in how people should think about private loans. Well, first and foremost, with the private student loan debt, we're looking at two different entities. Private student loan debt and federal debt are

very different things. We need to understand that I always, always always recommend looking outside just the interest rate when you're considering private refinancing. When you consolidate your loans from federal to private, you lose a lot of federal benefits, some of those being you lose a lot of flexibility in terms that come with the FED loans, and you lose some of the interest subsidies or discounts that come

with FED loans. Also those really attractive super low interest rates that may be reeling you in, like that two percent or three percent offer. You have to have stellar credit to get approved for those. So last year the average credit score or the average FICO score to even be approved for a private refinance was seven sixty four. So if you don't have a credit score in that range, you may get declined altogether. All right, Megan, So real quick.

You mentioned the interest subsidies and the discounts, so those are specific to federal loans, But what is what does that actually mean and what protections are you losing when you refinance to a private loan? Right, So, on the federal side, UH subsidies or discounts to your interests or your accumulated interest. Depending on your repayment plan, your interest is discounted or cut in half or waived for certain periods of time. That is not a benefit on the

private side. On the private side, your interests continues to accumulate on the principle, and if you have unpaid interest, that unpaid interest is added to the principle and then your interest is then charged off of that new principal balance. So your balance, if you refinance into a private student loan, it's just going to grow more quickly because of that compounding effect, right right, it can, especially if you're just

paying the minimum. So when it comes to interest rates, I feel like people get interested in private student loans because there are some really slick websites offering some really attractive looking interest rates. And so if you're paying seven percent on your federal student loans and you go to one of those private student loan website that offers rates into three percent range, that looks really good. But can you tell us why that might not always be the

best choice for someone with a higher interest payment. Yeah, So going back to your FICO score again, it's really hard to qualify for those really low interest rates that they advertise, and that is what they advertise the lowest available, So keep that in mind. The other thing to keep in mind is the flexibility in terms if you're if you're switching from federal loans to private loans, you lose the option to have income based payments on the private side.

That is not an option. You pay what they tell you to pay. If you lose your job, They're not very flexible on if you can't afford the payments anymore, and that's going to continue to affect your credit and balloon your balance. You can't reverse once you've gone private, you can't go back to federal. So if you if you consolidate, do a a private refinance and you decide, oh crap, I really like the federal system. I want to hop back on an income based payment, you can't

reverse what you did. So that's something you need to keep in mind as well. All right, Megan, I feel like that brings up the question of who do private student loans actually make sense for? And so when does it make sense for someone currently repaying their loans on a federal student loan repayment plan? When does it make sense for them to actually potentially refy. So I think it makes sense when you have a very low balance.

And I keep talking about these balanced rules of them, but my opinion is your balance should be very low compared to your income, usually manageable. Yes, do you even consider a refinance because of all of those benefits that you're losing, But there is value in finding a vehicle that has a lower interest rate if you're starting to

tackle your debt faster. So, for example, if your federal student loans are at a six point eight percent interest rate and you're down to a balance of let's say eight thousand, and you think you can manageably start to really tackle and pay down that balance to get it out of the mix sooner rather than later. If you have stellar credit and you can you can test this.

You can softly apply with some of the refinance companies out there see if you do qualify for a really low interest rate, If you qualify for a two or three percent interest rate, that's when it could make sense when you have a very low balance, you're willing to walk away from the flexibility of those federal loans and you get approved for that lower interest rate. That I think that's when it can make sense. Cool, and you

mentioned softly apply, Like, what exactly does that mean? So you can softly apply through I mean, there's a lot of private refinancing brokers out there that will shop the rate out for you. Credible is one, there's a few

others out there. But basically, you type in your basic information, how much your your student loan balance is, what your annual income is, and your basic information, and they do a soft check on your credit, but it will tell you whether or not you're going to be approved one and if so, what you could expect your interest rate to look like. So that can be kind of a either a deterrent or something that drives you to actually

execute that into refinancing. Yeah, and so if you're able to get into an interest rate that is sufficiently lower than the one that you currently have, it could make sense. Like Megan said, if you have a super low balance, if you're barely moving the needle, if you're going from six and a half percent to six percent, it probably isn't worth first off, the hassle, but then second off the fact that you are losing some of those if you do run to a hardship not to have those

benefits of being in a federal student loan. I mean that just stinks, and so you don't want to refi out of that if you're barely moving the needle when it comes to interest rates. So I think that's like a really good rule of thumb. And then so we're talking about interest rates, I want to talk to about time frames or terms, and so we're talking about refinancing

down to, you know, a rate that's significantly lower. Do you at all recommend for folks to consider the length of time that they would be able to actually pay down that debt if they're going to refinance to a private loan. Do you want your clients to be out of debt within a year? Uh, two years, three years? Like, is there a period of time that, yeah, that you want to see folks out of it completely? Yeah? So I think it comes back down to the goals in

your plan. If you have if you if you've got to prove for a super low interest rate, let's say you've got three point five uh, and you're able to refinance your student loans into that three point five interest rate? Are there other areas in your financial plan that need beefing up? Do you have other higher interest debt that

maybe you can start to prioritize and accelerate. Now with that extra money that you have in your cash flow, are there extra savings goals or investing goals that maybe you should prioritize because you're only being charged three point five now, so maybe we can beat that in the market, or maybe we can finally get that emergency savings account up and going. So it comes down to the goals of priorities there so not not necessarily a term I'd

recommend it. It just needs to fit within the plan. Yeah, I love that, But it's also kind of what makes it so tough, right as an individual with personal you know, financial goals, like what it is that you're trying to achieve because there is no clear answer, Like it's not like you can say, Okay, if it's gonna be less than twelve months and I'll be able to knock this out,

sure let's go for it. But like you said, in some instances, you might want to actually stretch that out because there's other opportunities, there's other things that you want to achieve from a financial standpoint. Having your student loans, they're keeping you from that and you know, like as sort of a blanket statement may not be the way to approach paying off your student loans, right. I feel

like there is no blanket statement. It really just comes down to your priorities, what's keeping you up at night financially speaking, and where you're trying to get ahead in

your financial situation. Yeah. I think the biggest thing though, when it comes to private student loans that we just have to reiterate is that private student loans are not nearly as forgiving as federal loans, And like Megan said, you can't go back, you know, once you've actually pulled the trigger and you've done the refinance, and so you're gonna want to make sure that before you actually refinance into a of a student loan that the terms are

much much more favorable and that you feel like you have the financial breathing room to take on an increase payment, that you can afford that in your budget, and that you will be able to for the life of that private student loan, however long of a term you take on, because you're gonna miss out on some of those benefits of having a federal student loan if times get tough and you don't have enough money to meet that obligation, so make sure you consider that before you do a

private student loan refinance. They can be good, like Megan said, if you can get one of those sweet three percent rates, if you've got a great, great credit score, but if you don't, if you aren't one of those people, be very, very careful before you make that decision. So the rest of this episode, we're planning to get to a lot of listener questions that are posted in our Facebook group. We're gonna cover some of the companies to refinance your student loans with, as well as a lot of other

questions right after the break. All right, Matt, Megan, we're back. Let's get right into this. Let's talk about the best lenders where you should consider going if you are one of those people, Megan that you mentioned would be a good candidate for refinancing your student loan into a private student loan. Where should people actually start If they feel like they've got a small enough balance they can significantly lower their interest rate and they want to attack it quickly,

Like where should they go? So, yeah, I'm a big fan of looking at brokers for refinancing. Credible is a really big one you can take a look at, and what a broker means is it compares a lot of different companies for you based on a soft inquiry. So FI is another good option that you can take into account, but definitely one that you can compare a lot of

different offers all in the same place. And can you compare the different fees as well when it comes to refinancing those you should, yes, And there are still companies out there that don't have fees associated with refinancing, so I said, I would suggest finding those companies. There are actually a lot of companies that offer cash rewards for

choosing their company to refinance with. Sometimes it's you know, two hundred dollars, three hundred dollars, and you have the option of taking that as cash or applying that to your student loan balance. I would recommend applying that to your student loan balance. So yes, definitely, I think it's important, just like we talked about Matt on our Buying a Home episode that people compare multiple apples to apples quotes

the same thing here. It doesn't hurt to look at multiple lenders and kind of compare what they're offering you based on not just the interest rate, but the fees involved as well. And the great thing is that with a site like sofi or credible, and we'll link to those in the show notes, those are going to be comparing many, many different lenders and that's just helpful, right because you can see it all in one place. It's like going to the Kayak of student loan refinancing. Yeah, exactly.

So there were multiple questions from Bridget and Frank asking about paying their loans off early and is it worth it to REFI for the lower rate, and I think, Megan, you would say right that if they feel pretty confident that they can pay off their student loans quickly and they can find a lower rate in the refi world, like they are perfect candidates for a private student loan refinance, right, definitely, yes, So,

and again you can usually choose the terms. You can choose one year, two year, five years, seven, whatever really fits, and you can pick the term that fits best with what you can commit to on a monthly basis. But you can always accelerate those payments and I would definitely suggest doing that as well. And Megan Daniel was asking should he pay attention to REFI offers in the mail I mean, could that Could that hurt? No? I don't

think it get hurt. I think if you're getting those offers in the mail that means your credit score is within the range of maybe considering a lower interest rate refinance. So definitely don't ignore them. Maybe consider it and do a soft inquiry and see where it takes you. Yea Jell. I feel like that's something you're really good at. Is kind of keeping your mind open to like the different deals that are out there, regardless of where they're coming from.

You know what I'm saying. Yes, sometimes I get those mailers and I try to refinance the student loan I don't even have because the deal is so good. I'm just like, please let me get this low interest rate. But they're like, you're a weirdo. You don't even have to and loan, and then I feel weird at the end of the phone call, so I know I'm odd alright.

So Carrie had a question for you, Megan. She says, what are the benefits and risks of taking out a personal loan to get better terms on an existing student loan? So a personal loan is very comparable to a private student loan. There's not a lot of differences between the two. It's still a private debt, it's still based on your credit. Personal loans, from what I've seen, can have higher interest rates than what I've seen on branded student loan private

refinancing rates. So again that's where you go in and you shop it around. You figure out what the best avenue is for you, what the lowest interest rate is that you can acquire. Yeah, that's what I've seen to like personal loan, if you could somehow find a lower rate, I mean, go for it. But typically, like you said, personal loans carry a higher interest rate than private student loans.

And so looking at a site that looks at a bunch of different lenders like Credible or so far, you're going to find better rates typically then you would find on a personal loan, even a Sweet Mailer for a really low rate personal loan, you're just gonna get a better rate on a an actual private student loan. Typically. Cool. And we've got another question here from Julie, and she asked one question that I've been asking myself is how to balance investing into my future when I'm still paying

off my student loans. I think I'm pretty set on opening a roth ira a with my tax refund and the money I've saved up for it. But additional insight is never a bad thing. So also, maybe how seriously to take student loans? I love that how the money is all about balance and mindful budgeting. And while I feel I'm living my best life while making significant lifestyle changes to pay off my student loans in three years, there's always the potential that I'm tipping the scale either way.

How can you best keep yourself in check? It's a very loaded question. I know I've said this before. I think it comes back to your financial priorities, and maybe that hones in on the overall goal here is to really put together and list out what you're trying to achieve in your finances. So talking about debt in the mix, going back to our interest rate conversation earlier, if you've got a lower interest rate on those student loans, they, in my book, start to fall down by the lower

priority list in the financial hierarchy. Higher interests at in the mix that you need to tackle. I would focus on accelerating those payments first. But if you're already talking about starting and opening a roth Ira, I think you're you're on the move towards planning for your financial future.

And if saving is a really good goal of yours, and you feel like you have your student loan situation handled in the most efficient strategy based on all of the comments we've had prior, then I think you're moving in the right direction. So, in summary, I think you can keep yourself in check by monitoring your progress in all areas of your financial picture, your debt situation, you're saving situation, your cash flow situation. If you feel like

all of those things are in good order, great. If you've feel like there are certain areas that need more attention than others, then that's where you start to redirect your attention. Yeah. I think if Julie's question instead of the wrath, if she inserted lifestyle inflation, then we're having a completely different response to this, right, I think we're saying, no, Julie,

calm down and pay your student loans off first. But hopefully the interest rate on her student loan is is low enough that it's not that big of a deal for her to instead decide to invest a little bit more as opposed to prioritizing a quicker paydown of her student loans. And as long as she's prioritizing something really good for her financial future as opposed to just more consumer spending today. Like, I mean, I think that's totally cool and mad. Props to Julie, right, I think round

of applause. That's good stuff. I love that question. And Daniel in our Facebook group had a similar question. You said, I'm trying to figure out the right amount of money to set aside monthly for my four oh one K retirement plan versus using that money towards my monthly student loan payment, Like, is there another rule of thumb for

how we can kind of figure that out? Yeah, so I think, especially with your employer sponsored plan four oh one k RATH four oh one K, if you have a match, absolutely go for that match before accelerating any debt payment. Hands down, Again, that's a percent return on

your money right there. So as long as you're getting the match, I would say, redirect those payments towards any higher interest debt um And then yeah, if if your if your student loan payment is again lower than your annual income and your prioritizing paying that off quicker and all of your other higher interest debt is out of the mix. Um. I think yes, start accelerating that payment

if that fits within your overall plan. If your emergency savings needs attention, though, maybe consider contributing or doing a hybrid approach towards that. That way, you're tackling two goals at once. Yeah, so quick props to Julie and Daniel for asking the right questions. They're not asking, you know, should I pay down my student loans or should I

go to Tahiti? Uh, They're talking about should I pay down my student loans, which is effectively paying themselves back by not having to pay interest, or should I save and put this money in the actual market in Tahiti. It's a good goal to have after you pay the student loans off. Yeah, that's how you celebrate. So after the break, we're gonna get to a few more listener questions. All right, we got a few more awesome student loan questions that we need to get to from our Facebook group.

Bridget and Steve ask something super similar, So we're going to combine them. Sorry, guys, you guys get them together in the same question. So the question essentially was what order should we pay off our student loans? Is there a benefit to paying off the smaller balances. First, how do you make sure extra payments are going towards the principal balance? So, yeah, Megan, what do you think of that? Yeah, so two separate questions. First question, is there a benefit

to paying off the smaller balances? First? In my opinion, the only benefit to doing the I think that's called the snowball approach, where you tackle the smaller balance first and then roll your accelerated payments into the next smallest balance. That strategy is going to have you you paying a little more interest over time, but psychologically it's going to give you those quick wins and it's gonna continue to

motivate you to trudge forward. And the next question was how do you make sure extra payments are going towards principal balance? So there is a way you can do that through your service or you have to intentionally make a separate payment. And I believe it gives you the option to designate where you want it to go, if you want it to go towards principle or towards unpaid interest. So that's gonna be key there. If you're wanting to

make sure extra payments go towards something specific. And then we've got another question here, this one from Jonah and he asked, does paying off student loans in full affect your credit score in the same way that closing a

credit card account of the same age does. For example, he said, my loans are small and the oldest thing all my credit history by far, and I'm concerned that paying them off in a lump sum the summer will make getting my first mortgage towards the end of the year harder and not worth the tiny amount of interest. I'd say, all right, I'll tackle Jonas question so because it's more of a credit question than even a student

loan question. And the answer is, if you pay off a student loan and that is one of the only pieces of credit that you have in your credit mix, there is a chance there's a good chance that it could ding your credit score a little bit. Let's say you have just a lot of other pieces of recurring credit though that that show up on your credit score,

then it's not gonna affect you nearly as much. But if that student loan is one of the only things that you have as credit in your name, it's gonna be a little bit of a bigger drop to your credit score when you do pay that off. I mean, obviously it's a day that you want to celebrate, well, who yes, um student loan debt free, and you don't want to delay that just because of that credit score drop.

But you do want to be careful because, yeah, when you're applying for a mortgage, that tiny credit score drop, like Matt and I talked about on in a recent episode, you can have big ramifications on the interest rate that you end up getting on a mortgage loan, and you just don't want to compromise that. So my tip to you is to make sure that your credit is solid.

If you are in the seven sixty or above range, you want to make sure that you're not on that borderline because any sort of small move like paying off that student loan could mean an eight to ten point twelve point drop. And so if you're at seven sixty, well, that dropped down to seven forty eight could make a big difference on the interest rate that you get. But if you're at like seven eighty or above, you're totally fine, Like it's not going to impact you enough to change

a potential interest rate. But really, when it comes down to it, paying off your student loan will affect every single person differently based on their specific credit mix, So just just make sure you have other pieces of credit available that are factored in EDUL. That I mean Jona's question. That's a tough one because, like you said, it affects everyone's credit differently. But just keep in mind that the length of your credit history, that only makes that fiftent

of your credit score. So he's talking about getting a mortgage later in the year, several months is more than enough time for it to rebound in twenty points, no problem, and real quick. We wanted to mention some points that in a Stagia posting in the Facebook group. These were all just awesome ways to think about college in general, and we just love where her head is ats when it comes to college. And so the first thing she said was don't go to college just because everyone else

is doing it. And I love that because that's exactly what I did. And I was so clueless when I was in high school. But seriously, one of the main reasons I started applying for colleges was because my friends were. It was something that I didn't really have the next step on the horizon as far as what I was gonna do, and folks were like, oh, yeah, I'm starting to apply to go to college, and I thought, oh cool,

I guess I should do that as well. Not exactly, I was clueless, man, And so if we have listeners out there who are in high school, do not be like Mats, because yeah, I was completely clueless. Luckily I ended up not working out tons of money for student loans. I had scholarship got lucky enough to score that. So yeah, be sure to consider some alternatives to you know, private schools, schools that would require you to take out student loans.

Anastasia specifically mentioned trade schools, and I think that those are especially in today's economy where a lot of the jobs that are unfilled are specifically skilled trades people. That's a great thing to consider, especially if you're good with your hands. If going to college doesn't register on your radar, don't just go because everyone else is doing it right, and consider an alternative path because that can actually be

more lucrative for you. You can take out much less debt, it's a much less risky proposition if it's something you're interested in and you naturally gravitate towards. And she also mentioned to think about what your state or city offers in regards to free college, and she specifically mentioned Tennessee. They've got a great program, Georgia. We've all all three of us here have taken part in the Hope Scholarship.

Almost half of the states in the country in the US now have either some sort of incentivized or scholarship provided higher education for those who qualify. So there's a lot of great options out there. Very soon, we're gonna do an episode on just different ways to think about higher education, Ways to reduce that aust and essentially just get smart for less money. All right, Matt, that was good stuff. I feel like student loans big topic, but you know what, we're able to kind of boil it

down into something digestible and answer some listener questions. So that was super fun. Let's get back to the beer real quick. Westbrook can Can so it's got this awesome picture of a lady doing a can can dance on the front of the bottom it. Yeah. Right, this is a five year old beer that my friend Jeff at my favorite package store just gave me because he's a sweetheart. So what do you guys think of this beer? My

word would be powerful. I really liked this one. I like that how to Kick had like a can can like kick how the can can kick. There we go. I'm a huge fan of this beer as well. Like my first sip, I almost wanted to go back and have us go back to the beer at the very beginning. Just that red wine barrel mixed with that quad There's just so many flavors going on, Like you taste that would it almost tastes kind of like bourbon barrel ish,

Like there was like a sweetness to it. This was a fantastic beer and I would totally agree with Megan pretty powerful because I think it's so. I'm glad we split this one three ways. Matt. In a while back, we talked about the how the age of a beer, how long it ages in the barrel, can affect the flavors that are imparted. And this one was aged for three years, which is way more than the standard amount of time that you put something in a barrel, like

ventures into Scotch territory. Almost yeah, exactly, And so I feel like the red wine flavors came through big time. I feel like that the late the time that it was aged and then on top of that, the fact that it's just been hanging out in the bottle for for a bunch of time too. This was delicious. It was like a rare treat and we're just grassiest to my friend Jeff for for handing us this beer. It was so good. Thanks Jeff. We appreciate it. All. Right,

let's get to our final thoughts. If you are considering refinancing your student loans to a private loan, you want to make sure that your balance is significantly lower than your annual salary, and you want to make sure that you can easily handle those monthly payments. Yeah, because if you can't handle those monthly payments, well, you know what, you've just lost a lot of flexibility when it comes to forbearance and deferment. Private student loans just don't have

the same protections that federal ones do. And lastly, you can't go back once you refinance into a private student loan, you can't go back to the federal system. And last point, join our Facebook group because it's so much fun. I love that we got to tackle some listener questions on

this episode on last episode. We don't get to do it every show, but it's super fun to get to do so, and if you have questions, our Facebook group is a great place to post them and kind of get that hive mind working to generate answers for you. Just some awesome people in there. So yeah, just go to Facebook dot com and type in how to Money in the search bar. That's right, friends, So I think that's gonna be it for this episode, Megan. I hope you've enjoyed recording with us. It's been a ton of

fun and hopefully we'll have you back on soon. Yeah. Thanks for having me, guys, you got it, and we will have links to those student loan refinancing companies on our show notes at how to money dot com. And you know what, I want to thank everyone who's left us or review recently. We have gotten a ton of reviews, and we know we read every single one of us, so we really appreciate the feedback. We really appreciate you sharing with others who might be looking for a new

podcast to listen to you. So, you know what, We're not even going to ask you to leave a review this time. Just thank you big thanks. So until next time, Joel, Best Friends Out, Best Friends Out? Oh No, I've made a great mistake.