2. Refinancing Student Loans Columbia University College of Physicians and Surgeons College of Dental Medicine Paul S. Garrard Founder and President, PGPresents, LLC Independent Student Loan Consulting November 2015 2015 PGPresents, LLC - All Rights Reserved

3. Private refinancing Private lenders offering to consolidate or “refinance” both private and federal loans Promise of lower rates and substantial savings in repayment Some lenders targeting only certain disciplines and graduates of certain schools Often lenders want to see history of steady income, not just potential income Reminder this is different than federal consolidation

4. Questions to ask Interest rates and capitalization frequency – Variable rates How often are they reset How much notice of increase and impact on subsequent payments Maximum and minimum rates – What triggers capitalization* Repayment plans – Ask about anything tied to income * This can have a dramatic impact on your loan balance

5. Questions to ask Postponement options – Ask about fees and impact on capitalization* – May be of concern to a dental or medical resident Cosigner requirements and cosigner release Forgiveness in event of death or disability Other services offered you may not need * This can have a dramatic impact on your loan balance

6. Should you refinance You may be a candidate if you – Are ready to start active repayment, perhaps aggressively – Are not interested in income-related repayment plans or forgiveness such as PSLF* – You are not concerned about postponement You may not be a candidate if you – Need to be cautious with payments – Need a repayment plan tied to income – Are interested in forgiveness, including PSLF* – May need to postpone payments * Public Service Loan Forgiveness

7. Best wishes for every success at Columbia and in your health sciences careers! PGPresents, LLC Independent Student Loan Consulting www.PGPresents.com 2015 PGPresents, LLC - All Rights Reserved