HoweEnterprise.com
August 17, 2020
How to ease the burden of student loan debt Hey Taylor: Do you have any recommendations for easing the burden of student loan debt? I’m workTaylor ing steadily and making my Kovar payments on time, but I’m wondering if there’s a better approach than losing money every month for the next 30 years. — Sharon Hey Sharon: I’ve helped a lot of people fight through student loan debt, and there are more options than you might think. In addition to making regular payments, there are a few other tactics you can try. 1. Expedite your payments. If you feel comfortable with your finances, you can always tighten your belt a little more and try to pay the loans off faster. At first, it will feel like you can’t possibly afford to put more toward debt, but if you try cutting back on other expenses for a couple of months, there’s a good chance those habits will stick and you’ll save loads of money in the long run. Remember that every dollar you pay above the minimum saves you interest and reduces the lifespan of that debt. If you make repayment your primary objective, you’ll surprise yourself with how much you can actually afford each month. 2. Refinance. Imagine paying the same amount each month and having the total balance go down even faster. That’s exactly what happens if you consolidate your loans with a good refinancing company. If your interest rate is 4.5 percent (which isn’t all that high), you might still be able to lower that by a full point. Assuming you have good credit, any number of student loan consolidation companies will be happy to assume your debt and give you better terms than whatever you have at present. If you don’t know where to start, check out Splash
Financial. It’s a small company that genuinely works to help people get out from under their debt so they can move on with their careers. You can also find out what type of rate you’d get in just a few minutes on the Splash Financial website. 3. Stay the course. This might not be exactly what you want to hear, but there’s definitely a world in which you should keep paying the minimum on your loans while shoring up other aspects of your finances. If you have smaller credit card balances with higher interest rates, make sure to get that debt off the books. If you don’t have an emergency fund, focus on building that safety net so you can comfortably pay off your loans without potentially forcing yourself to take on more debt. While student debt looks awful on paper, you might benefit from focusing your efforts elsewhere before trying to pay down the biggest balances. Hopefully this gives you a little direction, Sharon. If you’re managing to make payments and work a job you like, take a moment to recognize that your debt isn’t holding you back too much. Do what you can to improve the situation and keep enjoying life! Legal Disclaimer: Information presented is for educational purposes only and is not an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. To submit a question to be answered in this column, please send it via email to Question@GoFarWithKovar.com or via USPS to Taylor Kovar, 415 S 1st St, Suite 300, Lufkin, TX 75901.
Howe’s That (Continued from page 1)
Joey McQueen, and Davy DuBose. Also, we’re expanding our pre-game show to an hour before kickoff to allow for fun segments such as “The Quick Check Convenience Stores Flux Capacitor” which is a time capsule that will reveal players from the past in certain games associated to the current game. Such as, in week one against Callisburg we’ll mention that Tommy Robertson scored the first ever touchdown in the Howe versus Callisburg series which began in 1967. We’ll also be adding the “Texas Bred Lifestyle Opposite Corner” which is an interview with each opposing head coach. Blake Burnett, aka “The Blizzard’, will host
a weekly segment called the “District 5-3A Roundup” which gives the current district situation. At halftime, we’ll add an athlete of the week interview for nonfootball players and Caroline Slawson will feature a Howe ISD employee interview. 2020 will be season number 27 in the broadcast booth and seventh in Howe. Sure, I miss the luxury press facilities of 6A and 5A football, but there’s nothing like getting to broadcast your hometown team and the one you love. A tip of the headphones to Bob Sullins and Lynn Burkhead who got me started back in 1994 as a sideline announcer for Sherman on KWSM. It seems like a million years ago.
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Living with children Q: We have a five-year-old who obsesses about dying. This has been going on for six months, ever since a child in John the Rosemond neighborhood died of a congenital genetic condition. Our son knew the boy and has been fearful of dying ever since. This is causing him lots of anxiety during the day and he is unable to go to sleep at night unless one of us is with him. We took him to a therapist but after four sessions we saw no improvement so we stopped that. We have explained, over and over again, the difference between himself – very healthy – and the child who passed away, but nothing we say makes a difference. We’re hoping you have some good advice for us. A: It may seem counterintuitive, but the more parents talk to children about irrational fears, the worse the fears become. Another way of saying the same thing: Logic is lost on a child who is thinking illogically. You have no doubt said all there is to say about your son’s fear of dying. At this point, you are merely repeating yourselves. Plus, YOU’RE anxious. Parents cannot hide anxiety from an intuitively brilliant child, and “intuitively brilliant” describes nearly all children. As your respective anxieties ping-pong back and forth, they increase. As his anxieties worsen, so do yours, and vice versa. You are the adults. You are the only party who can end this deteriorating feedback loop. To do so, stop talking. Sit down with your son and tell him that you’ve said all you can say about the reason the boy in question died and why his death is in no way relevant to your son. Say something along these lines: “We’ve said all we can think of to say. Obviously, the things we’ve
said haven’t helped you, so we’re not saying anything more. Even if you want to talk about dying, we’re not going to talk. We’re simply going to say, ‘Remember? We’re not saying anything more about that.’ If that makes you cry, so be it. You can go to your room and cry all you want, but crying is not going to change our minds. You’re going to have to figure out some way to stop thinking these thoughts. Play with your favorite toy or something. You’re a smart kid and we know you can do this.” If you stick to your guns – and believe me, it’s going to be tough – then his fears should begin to subside within a couple of weeks. In the meantime, continue to sit with him until he goes to sleep, but do not get into bed with him. When you feel comfortable doing so – this, too, will be intuitive – tell your son that you’ve spoken with a doctor who has told you that he needs to go to sleep on his own. The doctor has told you it’s okay to read him a bedtime story, but after the story and a kiss goodnight, you have to leave his room. If he feels like he needs to cry for a while to get to sleep, it’s perfectly okay. The important thing is that you leave and do not go back in there, no matter what. Keep in mind that there is no way your son is going to get over this and move on without some distress. Why the doctor? Because invoking a third party whose authority your son already recognizes is going to hasten his “recovery.” The full explanation is complicated, so please, just take my word for it. The “doctor” told me to tell you that. Family psychologist John Rosemond: johnrosemond.com, p arentguru.com. John Rosemond has worked with families, children, and parents since 1971 in the field of family psychology. In 1971, John earned his masters in psychology from Western Illinois University and was elected to the Phi Kappa Phi National Honor Society.
