Episode 20: Secrets to managing student debt
In this episode of The Vet Blast Podcast, Adam Christman DVM, MBA, is joined by financial planners Steven Pusterla and Derek Ossi, who discuss some common mistakes young veterinary professionals make when it comes to their student loans.
Student loan debt is plaguing many recent veterinary school graduates and negatively impacting their wellbeing.
“Its [student loan debt] becoming a bigger and bigger issue, especially over the last decade,” says financial planner Derrick Ossi.
Steven Pusterla, also a financial planner, agrees. “When you come out of school, the student loan debt is hanging over you. Six months after you graduate, you’re hit with these statements,” he tells Dr. Christman.
In this episode of The Vet Blast Podcast, Ossi and Pusterla identify some common student loan debt mistakes and offer some financial planning advice.
The No. 1 mistake new graduates make is trying to tackle their student loan debt by themselves without knowing all their options, says the duo.
“We want to educate and communicate these strategies to new grads so they know their options and can make an informed decision,” says Ossi.
Additionally, Pusterla and Ossi advise against waiting for a higher paying job before paying back your loan. Delaying your student loan payments only causes more problems down the road, says Pusterla.
If you’re buried in student debt and feeling overwhelmed, “take a deep breath, relax and know that there are strategies for you to manage that debt," says Ossi. Having a plan in place will help you focus on serving your clients and patients, he adds.
“This isn’t a problem you have to go through alone,” says Pusterla.
Listen below to hear this duo share more on student debt management.