Student Loan Payoff Strategy

Prompt

Build an optimized student loan payoff strategy for [YOUR NAME].

Loan details:
[LIST EACH LOAN: SERVICER, TYPE (FEDERAL/PRIVATE), BALANCE, INTEREST RATE, MINIMUM PAYMENT]

Personal context:
- Annual gross income: [AMOUNT]
- Family size: [NUMBER]
- Employment: [PRIVATE SECTOR / PUBLIC SECTOR / NONPROFIT]
- Career stability: [STABLE / UNCERTAIN]
- Other financial priorities competing with loans: [LIST]
- Timeline to be debt-free: [TARGET OR 'HELP ME DECIDE']

Analyze and recommend:

1. **Loan Inventory Summary** — Total balance, weighted average rate, minimum payment, payoff date at minimums.

2. **Federal Loan Options** — For federal loans, compare:
   - Standard 10-year repayment
   - Income-driven repayment (IDR) plans: SAVE, PAYE, IBR — monthly payment and total cost for each
   - Public Service Loan Forgiveness (PSLF) if eligible — potential forgiveness amount

3. **Refinancing Analysis** — Should I refinance federal loans? Show the math. What rate would make refinancing worthwhile? Warning about loss of federal protections.

4. **Recommended Strategy** — The optimal approach given income, career, and financial priorities.

5. **Month-by-Month Payoff Plan** — For the recommended strategy, show the payoff timeline.

6. **Extra Payment Impact** — What does an extra $[AMOUNT]/month do to the payoff timeline and total interest?

7. **Tax Optimization** — Student loan interest deduction. How to maximize it.

8. **Employer Benefits** — Is my employer offering student loan assistance? How to ask.