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On today’s show, I have Travis Hornsby who is a student loan expert and the Founder of Student Loan Planner from St Louis, MO.
The student loan industry is massively overwhelming and confusing and a serious issue in our society these days. Travis helps people who have significant amounts of debt, we’re talking at least 6 figures and I’m so excited to bring you his episode as I think it will be eye-opening to many.
We chat about how he went from being a bond trader at Vanguard to starting his own student loan consulting business, the mistakes people make when it comes to student loans, the biggest misconception people have about student loans and so much more.
Excited for you to tune in and hope you enjoy!
Travis Hornsby | Student Loan Expert & Founder of Student Loan Planner
In today’s episode, you’ll find out:
- How Travis became an expert on student loans.
- The biggest mistake people make when it comes to student loans.
- The most common misconception people have about student loans.
- What Travis would tell young adults going into careers that require a lot of schooling.
- His advice for parents who want to help their children and lessen the student loan burden.
Travis founded Student Loan Planner to help the top 2% most indebted Americans save money on their student loan debt. He’s consulted on more than a quarter billion of student loans for over 1,000 clients. He lives with his wife Christine in St. Louis, MO, and they recently just paid off her $124,000 of med school debt.
Key takeaways from this episodeBasically I didn't want to work in corporate America anymore. - @StudentLoanTrav Click To Tweet
I’ll tell you honestly what it’s like. Some days I’m really productive. Some days I just play video games. – Travis Hornsby
I answer email way too much. I’m always in my email. I want to respond to everything as it comes in and I know that that’s bad. – Travis HornsbyA lot of people want to refinance their student loans that shouldn't. -@StudentLoanTrav Click To Tweet Debt, especially big debt relative to your income, causes a ton of complex psychological issues. - @StudentLoanTrav Click To Tweet
If you look at some of the professions that I advise, they have significantly above average rates of suicide. – Travis HornsbyThe psychology of it can cause you to do things that are very irrational and not helpful because of the lack of financial literacy. - @StudentLoanTrav Click To Tweet
Sometimes I have people that are crying on the phone, they’re letting all of their emotions out about how they feel about *the debt that they have. – Travis HornsbyI've had people realize that their marriages were falling apart and they needed to try and save their marriage. - @StudentLoanTrav Click To Tweet
Maybe I influenced a decision that could end up saving a life. – Travis Hornsby
The pain that I’m solving by offering this kind of service is very real, you can cut it with a knife. – Travis HornsbyIf you can find a pain that you can use your specific skills to solve, then you're going to have a fantastic business. - @StudentLoanTrav Click To Tweet
Professional degrees, in general, are becoming a worse and worse proposition from an ROI financial perspective every single year. – Travis Hornsby
When I help somebody that had no clue how to handle their debt and it changes their life. – Travis Hornsby
Links to resources
- Mr. Money Mustache
- Strengths Finder book
- Travis’ Business Insider article that went viral
- Death, Sex, & Money podcast episode about veterinary suicides
- Mike Meru Has $1 Million in Student Loans. How Did That Happen? – Wall Street Journal article
- Bogleheads investing advice
- Dave Ramsey
- Advice on refinancing your student loans
- Advice on hiring a student loan expert
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