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My $50,000 Student Loan Debt Payment Plan | Consolidation / Refinancing


My $50,000 Student Loan Debt Payment Plan | Consolidation / Refinancing – Whats The Best?

My $50,000 Student Loan Debt Payment Plan | Consolidation / Refinancing

So I sat down to do my April budget and finally looked at how much I’d be spending on my student loan debt each month…and it’s a lot. In this video, I’m breaking down my student loan repayment plan, explaining consolidation & refinancing, and discussing why community college may have been a better option for me.

How Coronavirus is Impacting my Student Loan Debt | My COVID-19 Financial Plan –
My College Degree is Useless | What I Wish I Knew Before Getting in Student Loan Debt –
When You SHOULD Take Out Student Loans | Are Student Loans Worth It??:

Book a 1 on 1 Call with Me for College & Career Planning –
Email –
IG – @lynetteadki

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  1. sethjared
    July 22, 2021 at 5:19 am

    Good video!! It's mind blowing that an 18 year couldn't get a $5,000 small business loan but that they will give you $50,000 in loans with no real understanding of what you are getting into. Guys – college is not necessary in 2020. What you need to get are marketable skills like coding, digital marketing, sales, UX design, Cybersecurity or even trade skills. Employers do not care about the "BA" at the bottom of your resume, they care about what you can bring to the job.

  2. John F
    July 22, 2021 at 5:19 am

    FAFSA is an application for federal financial aid. No one takes out "FAFSA loans." No one borrows money from FAFSA. No one makes loan payments to FAFSA.

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  5. Will Colbert
    July 22, 2021 at 5:19 am

    I recently cleared off my 62k student loan, thanks to a referral I got from my counselor Jason was really helpful. Still don’t know how he did it till date. I’m not sure he knows how much of a favor he did for me. Here,
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  6. SD
    July 22, 2021 at 5:19 am

    I'm so glad I was super lazy to apply anywhere when I was in high school. I ended going to my local CC. My pell grant paid for my two years there. I eventually got a transferred scholarship at my CC, that with pell grant + my university grant ended up paying for university.
    Get this, ONE SEMESTER at my University cost MORE THAN the 74 credits + Fees + Books + parking (free :))i took at my CC, that includes one summer class per year.
    It's just insane how inexpensive CC is compared to universities. A 3 credit class cost $240~ whereas at my Uni it would cost $1000~.
    I also think CC is nice if you wanna take time to decide your major.
    I know that both are life changing routes. I always wonder how I would end up had I got to university first, but at the same time, I meet a lot of nice people at CC + made a few friends along the way + found an awesome major from a friend I made there.

    Just found out about your channel btw, love that you were also a business major!

  7. Jermaine Sam
    July 22, 2021 at 5:19 am

    For sure, more people SHOULD be doing the community college route. I'm so glad I am doing that! I was so impatient when I first started that I wanted to attend a 4 year from a freshman and I was out of state also BUT then I had to slow my roll haha. I've saved up cash for my last two years and hopefully will be graduating with little to no debt. please everyone! Consider the community college route!

  8. Hussein Rosé
    July 22, 2021 at 5:19 am

    Look into something called “SMMA” on YouTube -it’s what I’m doing and
    I never took out a loan for my college – you should try it – it could help you.

  9. College Liftoff
    July 22, 2021 at 5:19 am

    Before you go to college know what you want to get out of it. Know what type of job you want and how your going to get their. Most students end up as fifth year because they changed their major. Most scholarship only last four years so your fifth will cost more. If you need help preparing for college we can help.

  10. Mike Johnson
    July 22, 2021 at 5:19 am

    I got lucky here in florida we no longer have community colleges they changed the names to state colleges and they offered a bachelors in my field for way cheap my bachelors degree was only 23,000 dollars all paid by the Florida National Guard. I went for criminal justice. I was also fortunate because my state college had an agreement with FSU Online Masters program with guaranteed admission for criminology and the National Guard paid 50 percent of it while the other 50 percent got reimbursed by my state job as a crime scene investigator. My entry level pay is not all that bad 50,000 a year and the National Guard paying me another 2000 so 52,000 a year with no debt at all. I tried Cybersecurity as my major excellent major but jobs are extremely hard to get because of competition with veterans who have a top secret clearence and have done that job in the military.

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  16. Octavia Bailey
    July 22, 2021 at 5:19 am

    I owe $60k and my payment is $650/mo, which is a lower payment than initially. I kept my fed loans as-is and refinanced my private loans, taking my interest rate from 11% to 5%. My advice to others is to avoid debt at all cost. If you can attend school part time and work a FT job or internship, try that. After college, employers care more about experience than a piece of paper. The diploma only opens the door, but the experience gets you the job with high pay.

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    July 22, 2021 at 5:19 am

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  18. Makiah Roam
    July 22, 2021 at 5:19 am

    Community College is a good idea! Online classes aren’t bad either

  19. Katie McManus
    July 22, 2021 at 5:19 am

    Just be careful when consolidating federal student loans. You can lose access to programs such as federal service loan forgiveness but more importantly income based repayment. Income based repayment is a nice fallback if you were to ever lose your job. I’m sure you’ve probably already considered this but I just wanted to put it out there. Can’t wait until your debt free scream!!

  20. Sophia
    July 22, 2021 at 5:19 am

    Love this video!! Would also love to see a video all about community college with your thoughts & advice!!

  21. Alexis Carr
    July 22, 2021 at 5:19 am

    I can vouch for starting at a community college! If it makes more sense for your path, do it! I started at ACC for two years and now I am at UT. I plan to graduate in 2022, and at most I think I will be abt $15,000 in debt with student loans.

  22. Q Makes It Happen
    July 22, 2021 at 5:19 am

    When you said French Bull Dog I felt that! I love Frenchies! Dogs are hella expensive tho, and time consuming lol Aja Dang is the shit and she's absolutely right about the auto pay discount. I refinanced through Earnest and I got an extra .25% off my interest rate by doing auto pay. Last but not least this is the 3rd video in a row that I've watched of yours and that's rare for me. Your channel is hella binge-able!!! 💯😁🙏🏁

  23. You
    July 22, 2021 at 5:19 am

    what did you do? after high school right away went to university of texas? and how long did you stay there and what major? was it worth it? what would you have done instead?

  24. michelle boca
    July 22, 2021 at 5:19 am

    i love french bulldogs too !!! I always wanted one and plan on having one in the future, but I don't think you should get one right now esp. bc of ur plans for the student loans and french bulldogs are really expensive and takes a good amount of care to take care of them. Maybe have one a couple years from now once ur settled in with getting into the groove of your payments.

    I really wish I went to community college too! Im 28k in student loan debt but my parents have 92k debt in their name and I plan on refinancing their debt so they don't have to pay for my education. this is gonna take a lot of working lots of hours but I would hate for my parents to be in debt bc of me

  25. yessi
    July 22, 2021 at 5:19 am

    thank you so much for this 💗I’m a senior right now and I have been super stressed out between choosing CC or start off right away a four year university. I want to live the “college” experience but the most important thing to me is my education/degree. I don’t want to end in debt, especially nowadays where we don’t know what is happening in the world. This was super helpful.

  26. L Fer
    July 22, 2021 at 5:19 am

    I’ve been debating if I should go to cc after highschool and after seeing this video I think I am. Although how can student loans affect u on the long run?? I don’t really understand how student loans work 😪

  27. Ronald Macmaster
    July 22, 2021 at 5:19 am

    Just randomly found your channel. Love the quality of your content. If you don't mind me asking, what's the new term of your student loan?

  28. Gaby Garza
    July 22, 2021 at 5:19 am

    I have been accepted into the University of Texas and I’m blessed to have my tuition covered with that being said the two loans offered can only pay for half of the dorm cost (depending which dorm I am given). I have been doing research about payment plans and saw 3 options, what do you recommend? Paying my dorm in full, do two payments one in the fall and then the other in the spring, or do monthly.

  29. Precious C
    July 22, 2021 at 5:19 am

    Happy late birthday and good luck!!! ❤️

  30. Bijahn Prox
    July 22, 2021 at 5:19 am

    Going to community college first is a great choice. I’m going to community college for free, so I’ve gotten 2 years of my education out of the way free of charge. I will be transferring to a university in fall 2020, and I’m so glad I did community college first.

  31. DG 02
    July 22, 2021 at 5:19 am

    Hello! Thank you for these great informative videos. I had a question over your opinion on Parent PLUS Loans. Majority of my UT aid was in that. Idk if I should use those or private ones

  32. Genesis Najera
    July 22, 2021 at 5:19 am

    Happy belated birthday 🎂 I really hope you meet your goals you got this stay focus. Anything is possible as long as you put your mind to it.

  33. Guilherme Marinho
    July 22, 2021 at 5:19 am

    Great video! Thank you so much

  34. Yadiraaxo
    July 22, 2021 at 5:19 am

    I decided to go to CC back when I was a Senior in high school and I'm glad I did. I knew my parents couldn't afford to pay for my tuition and I didn't want to be in a deep student debt at such a young age. Now going to transfer to a CSU and I only have to pay $6k for my last year of CSU for my bachelors instead of the thousands other people are in.

  35. libby S
    July 22, 2021 at 5:19 am

    When I was attending community college I was working and paying for my school tuition month to month. I maxed out all the credits I could get from my CC and just transferred to a in-state University that accepted all of my credits. Also, this summer I plan to take 2 online classes to alleviate a heavy work load and graduate 1 semester early. I made a very good decision to attend a CC first because the amount of student loan debt my older sister has really scares me.

  36. DS5446 Sabra
    July 22, 2021 at 5:19 am

    Great content!

  37. Moriah Sun
    July 22, 2021 at 5:19 am

    I’m just wondering, is there a reason why you’re paying the same lump of money on both you fasfa loan and private loan? Bc wouldn’t it be better to pay 600 on private and 400 on the fasfa loan each month so that you could pay off the one with a higher interest rate faster?

    Thanks for the great video! I’ve been watching your videos for 2 years and now I’m going to McCombs in the fall. You have given so many great tips in my application process and I think you’re really awesome! Keep doing what you’re doing!!💕💕

  38. Nicole Spina
    July 22, 2021 at 5:19 am

    Thank you so much for this video! I’m a 17 year old high school senior in the process of choosing a college. All I can say is that I’m grateful that there are videos like this to prepare me for what I’m getting myself into financially.