Marriage Kids and Money: Personal Finance for Families What Happens If You Don't Pay Your Student Loans | Robert Farrington
Student loan payments are resuming after a three-year hiatus. Ever since news of the ending student loan payment pause, there have been rumblings on the internet: “I’m not paying my student loan anymore. I’m forgiving them myself.”
While most of these comments are made in jest, what would actually happen if you just… stopped paying your student loan debt?
We’re joined by Robert Farrington, Millennial Money Expert and founder of The College Investor, to chat about the ramifications of neglecting to pay your student loans. We talk about the threat of wage garnishments, 20% collection fees, how this decision could ruin your financial life, and what your repayment options are.
GENERATIONAL WEALTH SEGMENT:
Building family wealth and happiness becomes a lot easier when you have a lot of time. What do our kids have a lot of? Time! On this week’s Generational Wealth Segment, Clifton Corbin joins us to talk about financial literacy for children and young adults.
SHOW RESOURCES:
GUEST BIO:
Through his work at TheCollegeInvestor.com, Robert Farrington has emerged as one of the nation's leading student loan debt experts. He has also directly engaged with many consumer financing financial technology brands and loves to help companies innovate in the space.
ROBERT FARRINGTON RESOURCES:
CLIFTON CORBIN RESOURCES:
- Free Kids’ Workbook
- Clifton Corbin books (affiliate)
OTHER EPISODES YOU MIGHT LIKE:
- Pay for College Without Student Loans: 5 Ways Parents Can Help Their Kids Graduate Debt Free
- Anthony ONeal: Will Income-Based Repayment Help with my $200k of Student Loans?
- How We Paid Off $300,000 of Student Loans in 5 Years – with Josh Hastings
MKM RESOURCES:
- Make My Kid a Millionaire Course: Want to make your kid a millionaire? Learn more about my course!
- MKM Coaching: Want 1-on-1 support with your family finance journey? Book a time with me today.
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SHOW INFORMATION:
Marriage Kids and Money is dedicated to helping young families build wealth and happiness. This award-winning platform helps couples and parents achieve financial independence and discover the true meaning of wealth.
To achieve these big goals, we answer questions and interview experts who uncover smart net worth building habits and tools that can help everyone find their own version of financial independence.
Learn more at https://www.marriagekidsandmoney.com
HOST BIO:
Andy Hill is the award-winning family finance coach behind Marriage Kids and Money - a platform dedicated to helping young families build wealth and happiness.
Andy's advice and personal finance experience have been featured in major media outlets like CNBC, Forbes, MarketWatch, Kiplinger’s Personal Finance and NBC News. With millions of downloads and views, Andy’s message of family financial empowerment has resonated with listeners, readers and viewers across the world.
When he's not "talking money", Andy enjoys being a soccer Dad, singing karaoke with his wife and watching Marvel movies.
DISCLAIMER:
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- Information shared on this podcast is for entertainment purposes only and should not be considered as professional advice.
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CREDITS:
- Podcast Artwork: Liz Theresa
- Editor: Podcast Doctors
- Podcast Support: Weir Digital Marketing
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