When my family started the medical journey, I was clueless about handling finances.

Sure, I could do the budgeting and the day-to-day operations of the present. But I couldn’t wrap my head around my husband’s student loans. I’m not sure if it was due to lack of motivation, fear, or both.

When my husband got into medical school and signed those student loans, I vaguely understood that one day we would have to pay Uncle Sam all that money back. The only way I knew how was “with his doctor salary,” of course.

I had no idea how much was involved.

Before he graduated medical school, I spent an incredible number of hours Googling PSLF, IBR, PAYE, REPAYE, ICR, extended, standard 10 year, graduated plans and refinancing with private lenders. I looked at free guides, YouTube videos, blog articles. My mind was spinning and I felt overwhelmed. But I kept trying to figure it out because we had no choice. These loans weren’t going to be managed themselves.

Based on what I knew, we decided that IBR was the way to go. We filed separately to take advantage of the loophole where payments would be calculated based only on his salary, not on both of ours since I was also working.

I was confident we were making a super smart decision.

Months later, I started to wonder if we would benefit from a professional opinion.

That’s how I met Travis.

What is the founder of Student Loan Planner and what the heck does he know?!

Travis is a student loan consultant with Student Loan Planner. What really stands out about him to me is that many of the White Coat Investor’s vetted financial planners refer their clients to him. Where financial planners are like “primary care,” Travis is like a “subspecialist.” Plus, his wife Christine is also a physician with six-figure student loans and they have gone through all the headaches with FedLoan and private sector refinancing themselves. Over the course of his business, he has saved over $40 million dollars for families like ours.

I reached out and booked a consult with him.

After he went through our situation, he told us that REPAYE was actually better than IBR for us, and that we could go back from filing separately to filing jointly. That is completely different than what we had been doing.

I was wrong all this time. For years, we paid thousands of dollars EACH MONTH in interest that I didn’t have to if I had known earlier. That was enough to make me feel sick.

While I can’t go back and reverse our decision to be in IBR when we should have been in REPAYE, at least I knew we were in the right one now going forward.

Why I took the course

After the consult, Travis developed a course Student Loan Eraser, which walks you through step-by-step everything you wanted to know about student loans in three hours.

But as my husband was getting further along in his career, he was leaning more and more towards private practice than academia, which meant not doing Public Service Loan Forgiveness anymore. All this would change our strategy entirely.

I could have booked another consult and paid another $295-595, but instead, I enrolled in this course. Our future was up in the air, which would affect our strategy, and instead of keep paying for a consult each time our situation changed, I learned how to handle it on my own. I could now adjust our strategy if needs or situations continue to change.

LEARN MORE ABOUT STUDENT LOAN ERASER

Full disclosure: This is my honest review of Student Loan Eraser. If you buy this course through this link, I will receive a small commission at no extra cost to you to keep DocWife going.

What’s you get in the course

In this course, there are 7 modules and you’ll learn:

  • How to find out what loans you have
  • What is your current lifestyle and how it impacts your loans
  • The different repayment plans available
  • Strategies for public service loan forgiveness
  • Strategies for private sector loan forgiveness
  • Strategies for refinancing
  • How to consolidate

Here is what the outline of the course looks like in Teachable:

You will be able to take everything you learn in all those modules and apply it IMMEDIATELY to your situation.

I’ve taken many other courses in the past. Travis’ course is well-made. I promise he’s not droning I’m reading slide by slide forcing you to plod through. It uses PowerPoint slides, videos, and powerful storytelling to walk you through all of it. You can hear his authentic voice and personality.

What’s in the course that I can’t easily find online?

Nothing is secret about student loan strategy. But it’s how the information is presented to you so that you can understand how to apply it for immediate results.

There are four things that this course does that Google doesn’t give you:

#1. If you inherited your spouse’s student loans through marriage and are just expected to figure things out, or you forgot all the details when you signed on the dotted line — then this will save time and frustration. The course tells you where to find all the info to start:

  • what type the loans are
  • the different interest rates on all of them
  • if your employer is non-for-profit 501c3
  • if you had ever done a direct consolidation of these loans

If you didn’t keep track or don’t have much to go off of, you will spend many hours alone just finding out where everything is and being on the phone with your loan servicer for answers.

#2: Like I described at the beginning of my story, I already did the Google route before I took the course, and had read everything I could that was scattered all over the interwebs. Not only was it massively time-consuming, I still didn’t pick the optimal strategy. It wasn’t because I misread or punched in the wrong numbers. It was that I didn’t model our entire situation correctly.

The student loan system takes into account whether you’re married, how many kids you have, how much your spouse makes, whether you work for academic or private practice, and so on. These are all different moving parts. When one variable changes, your entire strategy could change, too. That’s what makes student loans hard to figure out.

The course fills in that gap. Travis literally walks you through not only what to do, but how and why.

#3. The course is not all theory. There is a module that goes through several real-life scenarios, and yours is probably one of them.

#4. There is an underutilized and awesomely powerful calculator to model different future scenarios including:

  • switching payment plans
  • doing or not doing PSLF
  • salary expectations
  • pregnancies
  • stay-at-home vs. working spouse

What you should know about Travis is that he had a prior career as a bond trader for one of the world’s largest investment companies with a talent for developing powerful spreadsheets. His calculator covers every scenario. That’s why his calculator is the best out there.

Who the course isn’t for?

Like I said, this is an honest review. If you already have all the data and just want somebody to give you a quick answer or second opinion based on your situation right now, you may do better to just book Travis for a consult. Be aware that the consult is meant to be short so he only goes through the what, not the how or why. If he advises you to switch from IBR to REPAYE, you’re expected to know how to do this on your own. If he suggests to file taxes separately, you need to know that you will become ineligible to contribute directly to a Roth IRA and how to do a backdoor Roth IRA.

Finally, if you already refinanced your loans with a private lender, you can’t go back and make them into federal loans. The only thing you can do is keep refinancing if you see a better deal. The course would be TMI.

So, is the course worth it?

Chances are, you are in some sort of repayment plan or strategy. But you don’t want to be in just a good plan, but the most optimal plan. It’s a five-figure difference over the life of the loan. Take our situation, for example, as we were in IBR when we should have been in REPAYE. The course taught us if we need to go from REPAYE to PAYE or to refinance as our future changes.

If you take the course, you will know what to do with your loans IMMEDIATELY instead of having to study all of the Internet. So learning which plan is the best and saving time are the two things that make it worth it.

Now, your biggest fear is where to come up with $199 to pay for the course, especially if you’re on a residency budget. I get it. If you are on the fence because of the cost, don’t. Delaying this course by even one month could be costing you way over $199. It could be costing you thousands each month. It’s one thing to be frugal about your daily lattes, it’s another to cut corners when the big bucks are on the line.

The guarantee clause

If you take a look at the modules and it’s not for you, or you find out you’re already in the most optimal plan, Travis will give your money back with the strongest safety net possible. He guarantees that if you have over $100,000 in loans but don’t save $10,000 after you take the course, he wants you to email him and get your money back.

Let me be clear.

Best case scenario: You take the course and save thousands each month starting this month.

Worse case scenario: You pay $0. (That’s as risk-free as you can get.)

In summary

I have gone through this three-hour course and highly recommend it. It will pay for itself as soon as you take it and you will save countless hours of trying to wade through all the right information online. I bet you don’t have that kind of time in the first place.

I thank Travis for helping me save tens of thousands of dollars and empowering me with student loan education that I can apply to any situation as our future changes. After you take the course, you can expect to take what you learned and IMMEDIATELY know what to do with your student loans to save tens of thousands, too.

Start erasing your debt today and live a good life.

Now go and check it out right now!

LEARN MORE ABOUT STUDENT LOAN ERASER