Student Loan Repayment in 2023

On July 6, 2023, Andwise was delighted to host a vital webinar featuring Lauryn Williams, a certified financial planner (CFP®), and a student loan advisor. This in-depth conversation aimed at demystifying the complex world of student loan repayment in 2023. This blog post delves into the key takeaways from this engaging session.

Lauryn Williams, a distinguished four-time Olympian and three-time Olympic medalist, has taken her winning strategies from the sports field to the realm of financial planning. As an advisor at Student Loan Planner, Lauryn specializes in assisting people to confidently navigate their student loan repayment journey. Besides her role at Student Loan Planner, Lauryn owns a financial firm, Worth Winning, and hosts the Worth Listening podcast. These platforms further reinforce her commitment to empowering individuals to make informed financial decisions.

Her knowledge and insight have earned her a spot on the CNBC Advisory Council and a place among Investopedia’s 100 Top Financial Advisors of 2020. Lauryn's expertise is sought after on various platforms, such as Journey to Launch, Paychecks & Balances, Financial Grownup, and more.

In the webinar, Lauryn covered a range of topics, ensuring that attendees received comprehensive guidance on handling student loans. Here are some of the major insights from Lauryn's presentation:

1. Understanding the Student Loan Landscape in 2023: Lauryn discussed how changes in federal policies and the broader economic environment affect the student loan landscape. She offered insights into the state of loan forgiveness programs and interest rate changes, helping attendees understand how these factors could impact their repayment strategies.

2. Student Loan Repayment Strategies: Lauryn provided an overview of different repayment strategies and how they fit different life and financial circumstances. She emphasized the importance of having a customized strategy based on one's income, lifestyle, and long-term goals.

3. Managing Student Loans During Financial Uncertainty: Lauryn shared practical advice on managing student loans during periods of financial uncertainty. She provided tips on budgeting, emergency funds, and staying updated with changes in student loan policies.

4. Mental Health and Financial Stress: Lauryn touched on the emotional aspect of dealing with debt, stressing the importance of mental health. She discussed how financial stress can impact mental health and offered suggestions for managing this stress effectively.

The webinar was a treasure trove of valuable information for anyone struggling with student loans, offering direction and clear strategies for managing student debt. Lauryn's in-depth knowledge and practical advice made it an enlightening session, bringing hope and clarity to those grappling with student loans.