Flight Plan to Financial Freedom

Spending Plan Worksheet Checklist

Items you will need in order to complete your SPW:

Current Leave and Earnings Statement (LES)

Other pay statements

Record of any other monthly income

Monthly bills and payments

• Electricity and gas

• Phone (home and cell)

• Cable, satellite, and internet

• Water, sewage, and garbage

• Insurance

Debt payments

• Car loans

• Personal loans

• Student loans

• Credit cards

• Any other debt

Current bank statements

TO CALCULATE NET WORTH:

Current statements of investments (including TSP)

• Recent credit report www.annualcreditreport.com

• Values of your home and any property www.homegain.com

Value of your cars and vehicles

www.kbb.com www.nada.com www.edmunds.com

Other items that will be needed:

• Spending Plan Worksheet

• Calculator

• Scratch paper

• Pencils

Resources:

• %MVQERERH*EQMP]6IEHMRIWW'IRXIVTIVWSREPƼRERGMEPGSYRWIPSVWERHIHYGEXSVW

• Air Force Aid Society

^ƉĞŶĚŝŶŐWůĂŶtŽƌŬƐŚĞĞƚhƐĞƚŚŝƐǁŽƌŬƐŚĞĞƚƚŽƌĞĐŽƌĚŚŽǁŵƵĐŚŵŽŶĞLJLJŽƵƐƉĞŶƚƚŚŝƐŵŽŶƚŚƚŚĞŶƵƐĞƚŚĞŝŶĨŽƌŵĂƚŝŽŶƚŽŚĞůƉLJŽƵƉůĂŶŶĞdžƚŵŽŶƚŚ ƐƐƉĞŶĚŝŶŐ

/ŶĐŽŵĞDŽŶƚŚůLJ;ƵƌƌĞŶƚͿ DŽŶƚŚůLJ;'ŽĂůͿ

ŝƌŵĂŶƐŝŶĐŽŵĞ;ƐĂůĂƌLJĂĨƚĞƌƚĂdžĞƐďĞŶĞĨŝƚƐĂŶĚŽƚŚĞƌĚĞĚƵĐƚŝŽŶƐͿ Ψ Ψ^ƉŽƵƐĞƐŝŶĐŽŵĞ;ƐĂůĂƌLJĂĨƚĞƌƚĂdžĞƐďĞŶĞĨŝƚƐĂŶĚŽƚŚĞƌĚĞĚƵĐƚŝŽŶƐͿ Ψ ΨKƚŚĞƌŝŶĐŽŵĞ;ĐŚŝůĚƐƵƉƉŽƌƚƐĞĐŽŶĚũŽďĞƚĐĂĨƚĞƌƚĂdžĞƐͿ Ψ ΨdŽƚĂůŵŽŶƚŚůLJŝŶĐŽŵĞ Ψ Ψ

dƌĂŶƐĨĞƌƐĂŶĚdžƉĞŶƐĞƐDŽŶƚŚůLJ;ƵƌƌĞŶƚͿ DŽŶƚŚůLJ;'ŽĂůͿ

^ĂǀŝŶŐƐ Ψ Ψ/ŶǀĞƐƚŵĞŶƚƐ;ϰϬϭ;ŬͿ/ZĞƚĐͿ Ψ ΨWĂLJŵĞŶƚƐŽŶĞďƚƐ;ĂƵƚŽůŽĂŶƐĐƌĞĚŝƚĐĂƌĚƐƐƚƵĚĞŶƚůŽĂŶƐĞƚĐďƵƚŶŽƚŵŽƌƚŐĂŐĞͿ Ψ ΨdŽƚĂůŵŽŶƚŚůLJƚƌĂŶƐĨĞƌƐĂŶĚĚĞďƚƉĂLJŵĞŶƚƐ Ψ Ψ

,Kh^/E'ZĞŶƚŽƌŵŽƌƚŐĂŐĞ Ψ ΨZĞŶƚĞƌΖƐŝŶƐƵƌĂŶĐĞŽƌŚŽŵĞŽǁŶĞƌΖƐŝŶƐƵƌĂŶĐĞŶŽƚŝŶĐůƵĚĞĚŝŶŵŽƌƚŐĂŐĞ Ψ ΨhƚŝůŝƚŝĞƐ;ĞůĞĐƚƌŝĐŝƚLJŐĂƐĞƚĐͿ Ψ Ψ/ŶƚĞƌŶĞƚĐĂďůĞĂŶĚƉŚŽŶĞƐ Ψ ΨKƚŚĞƌŚŽƵƐŝŶŐĞdžƉĞŶƐĞƐ;ƉĞƐƚĐŽŶƚƌŽůůĂǁŶƐĞƌǀŝĐĞĞƚĐͿ Ψ Ψ

&KK'ƌŽĐĞƌŝĞƐĂŶĚŚŽƵƐĞŚŽůĚƐƵƉƉůŝĞƐ Ψ ΨDĞĂůƐŽƵƚ Ψ ΨKƚŚĞƌĨŽŽĚĞdžƉĞŶƐĞƐ Ψ Ψ

dZE^WKZdd/KE

ƵƚŽŵŽƚŽƌĐLJĐůĞŝŶƐƵƌĂŶĐĞ Ψ ΨƵƚŽŵŽƚŽƌĐLJĐůĞĨƵĞů Ψ ΨƵƚŽŵŽƚŽƌĐLJĐůĞƐĞƌǀŝĐĞ;ŵĂŝŶƚĞŶĂŶĐĞƌĞƉĂŝƌƐŝŶƐƉĞĐƚŝŽŶƐĞƚĐͿ Ψ ΨWƵďůŝĐƚƌĂŶƐƉŽƌƚĂƚŝŽŶ;DĞƚƌŽďƵƐĞƚĐͿƉĂƌŬŝŶŐƚŽůůƐƌŝĚĞƐŚĂƌŝŶŐ Ψ ΨKƚŚĞƌƚƌĂŶƐƉŽƌƚĂƚŝŽŶĞdžƉĞŶƐĞƐ Ψ Ψ

,>d,

DĞĚŝĐŝŶĞƐĂŶĚƐƵƉƉůĞŵĞŶƚƐ Ψ Ψ,ĞĂůƚŚŝŶƐƵƌĂŶĐĞĚĞĚƵĐƚŝďůĞƐĐŽƉĂLJƐ Ψ ΨKƚŚĞƌŚĞĂůƚŚĞdžƉĞŶƐĞƐ;ĚĞŶƚŝƐƚƐŐůĂƐƐĞƐĐŽŶƚĂĐƚƐĞƚĐͿ Ψ Ψ

WZ^KE>E&D/>z

ŚŝůĚĐĂƌĞ Ψ ΨŚŝůĚƐƵƉƉŽƌƚ Ψ ΨůŽƚŚŝŶŐĂŶĚƐŚŽĞƐ Ψ Ψ>ĂƵŶĚƌLJƐĞƌǀŝĐĞĚƌLJĐůĞĂŶŝŶŐ Ψ ΨDŽŶĞLJŐŝǀĞŶŽƌƐĞŶƚƚŽŶŽŶͲƌĞƐŝĚĞŶƚĨĂŵŝůLJŵĞŵďĞƌƐ Ψ ΨŽŶĂƚŝŽŶƐ;ĐŚĂƌŝƚŝĞƐƚŝƚŚŝŶŐĞƚĐͿ Ψ ΨŶƚĞƌƚĂŝŶŵĞŶƚ;ŵŽǀŝĞƐƐƚƌĞĂŵŝŶŐƐĞƌǀŝĐĞƐŵĂŐĂnjŝŶĞƐĞƚĐͿ Ψ ΨsĂĐĂƚŝŽŶƐ Ψ ΨWĞƚƐ Ψ ΨDĞŵďĞƌƐŚŝƉƐĂŶĚƐƵďƐĐƌŝƉƚŝŽŶƐ Ψ ΨKƚŚĞƌƉĞƌƐŽŶĂůŽƌĨĂŵŝůLJĞdžƉĞŶƐĞƐ Ψ Ψ

Kd,ZyWE^^

ĂŶŬĐƌĞĚŝƚĐĂƌĚdDĂŶĚŽƚŚĞƌĨĞĞƐ Ψ Ψ^ĐŚŽŽůĐŽƐƚƐ;ƚƵŝƚŝŽŶƐƵƉƉůŝĞƐĞƚĐͿ Ψ ΨEŽŶͲŵŽŶƚŚůLJĞdžƉĞŶƐĞƐ;ůŝĨĞŝŶƐƵƌĂŶĐĞƉĞƌƐŽŶĂůƉƌŽƉĞƌƚLJƚĂdžĞƐĞƚĐͿ¹ϭϮ Ψ Ψ'ŝĨƚƐ;ĞƐƚŝŵĂƚĞĚĂŶŶƵĂůĞdžƉĞŶƐĞƐ¹ϭϮͿ Ψ ΨKƚŚĞƌĞdžƉĞŶƐĞƐ Ψ ΨhEd'KZ/yWE^^

Ψ Ψ Ψ Ψ Ψ ΨdŽƚĂůŵŽŶƚŚůLJĞdžƉĞŶƐĞƐ Ψ Ψ

/ĨLJŽƵƌŝŶĐŽŵĞŝƐŵŽƌĞƚŚĂŶLJŽƵƌĞdžƉĞŶƐĞƐ LJŽƵŚĂǀĞŵŽŶĞLJůĞĨƚƚŽƐĂǀĞŽƌƐƉĞŶĚ/ĨLJŽƵƌĞdžƉĞŶƐĞƐĂƌĞŵŽƌĞƚŚĂŶLJŽƵƌŝŶĐŽŵĞůŽŽŬĨŽƌĞdžƉĞŶƐĞƐƚŽƌĞĚƵĐĞŽƌĐƵƚ

EdtKZd, dŽƚĂůǀĂůƵĞŽĨƐĂǀŝŶŐƐŝŶǀĞƐƚŵĞŶƚƐƌĞĂůĞƐƚĂƚĞƉĞƌƐŽŶĂůƉƌŽƉĞƌƚLJ ΨͲdŽƚĂůŝŶĚĞďƚĞĚŶĞƐƐ;ŵŽƌƚŐĂŐĞĐĂƌůŽĂŶƐƐƚƵĚĞŶƚůŽĂŶƐĞƚĐͿ ΨсEĞƚǁŽƌƚŚ Ψ

ĐƚƵĂů/ŶĐŽŵĞ ĐƚƵĂůdžƉĞŶƐĞƐ ĐƚƵĂůŝĨĨĞƌĞŶĐĞΨ Ͳ Ψ с Ψ

/ŶĐŽŵĞ'ŽĂů džƉĞŶƐĞ'ŽĂů ŝĨĨĞƌĞŶĐĞ'ŽĂůΨ Ͳ Ψ с Ψ

ƵƌƌĞŶƚĞďƚͲƚŽͲ/ŶĐŽŵĞZĂƚŝŽ й dŽĐĂůĐƵůĂƚĞĚĞďƚͲƚŽͲŝŶĐŽŵĞƌĂƚŝŽ

dŽƚĂůĞďƚWĂLJŵĞŶƚƐрdŽƚĂů/ŶĐŽŵĞdžϭϬϬĞďƚͲƚŽͲ/ŶĐŽŵĞZĂƚŝŽ'ŽĂů й EŽƚĞdŚŝƐĐĂůĐƵůĂƚŝŽŶĞdžĐůƵĚĞƐŵŽƌƚŐĂŐĞĚĞďƚ

^ƉĞŶĚŝŶŐWůĂŶtŽƌŬƐŚĞĞƚhƐĞƚŚŝƐǁŽƌŬƐŚĞĞƚƚŽƌĞĐŽƌĚŚŽǁŵƵĐŚŵŽŶĞLJLJŽƵƐƉĞŶƚƚŚŝƐŵŽŶƚŚƚŚĞŶƵƐĞƚŚĞŝŶĨŽƌŵĂƚŝŽŶƚŽŚĞůƉLJŽƵƉůĂŶŶĞdžƚŵŽŶƚŚ ƐƐƉĞŶĚŝŶŐ

/ŶĐŽŵĞDŽŶƚŚůLJ;ƵƌƌĞŶƚͿ DŽŶƚŚůLJ;'ŽĂůͿ

ŝƌŵĂŶƐŝŶĐŽŵĞ;ƐĂůĂƌLJĂĨƚĞƌƚĂdžĞƐďĞŶĞĨŝƚƐĂŶĚŽƚŚĞƌĚĞĚƵĐƚŝŽŶƐͿ Ψ Ψ^ƉŽƵƐĞƐŝŶĐŽŵĞ;ƐĂůĂƌLJĂĨƚĞƌƚĂdžĞƐďĞŶĞĨŝƚƐĂŶĚŽƚŚĞƌĚĞĚƵĐƚŝŽŶƐͿ Ψ ΨKƚŚĞƌŝŶĐŽŵĞ;ĐŚŝůĚƐƵƉƉŽƌƚƐĞĐŽŶĚũŽďĞƚĐĂĨƚĞƌƚĂdžĞƐͿ Ψ ΨdŽƚĂůŵŽŶƚŚůLJŝŶĐŽŵĞ Ψ Ψ

dƌĂŶƐĨĞƌƐĂŶĚdžƉĞŶƐĞƐDŽŶƚŚůLJ;ƵƌƌĞŶƚͿ DŽŶƚŚůLJ;'ŽĂůͿ

^ĂǀŝŶŐƐ Ψ Ψ/ŶǀĞƐƚŵĞŶƚƐ;ϰϬϭ;ŬͿ/ZĞƚĐͿ Ψ ΨWĂLJŵĞŶƚƐŽŶĞďƚƐ;ĂƵƚŽůŽĂŶƐĐƌĞĚŝƚĐĂƌĚƐƐƚƵĚĞŶƚůŽĂŶƐĞƚĐďƵƚŶŽƚŵŽƌƚŐĂŐĞͿ Ψ ΨdŽƚĂůŵŽŶƚŚůLJƚƌĂŶƐĨĞƌƐĂŶĚĚĞďƚƉĂLJŵĞŶƚƐ Ψ Ψ

,Kh^/E'ZĞŶƚŽƌŵŽƌƚŐĂŐĞ Ψ ΨZĞŶƚĞƌΖƐŝŶƐƵƌĂŶĐĞŽƌŚŽŵĞŽǁŶĞƌΖƐŝŶƐƵƌĂŶĐĞŶŽƚŝŶĐůƵĚĞĚŝŶŵŽƌƚŐĂŐĞ Ψ ΨhƚŝůŝƚŝĞƐ;ĞůĞĐƚƌŝĐŝƚLJŐĂƐĞƚĐͿ Ψ Ψ/ŶƚĞƌŶĞƚĐĂďůĞĂŶĚƉŚŽŶĞƐ Ψ ΨKƚŚĞƌŚŽƵƐŝŶŐĞdžƉĞŶƐĞƐ;ƉĞƐƚĐŽŶƚƌŽůůĂǁŶƐĞƌǀŝĐĞĞƚĐͿ Ψ Ψ

&KK'ƌŽĐĞƌŝĞƐĂŶĚŚŽƵƐĞŚŽůĚƐƵƉƉůŝĞƐ Ψ ΨDĞĂůƐŽƵƚ Ψ ΨKƚŚĞƌĨŽŽĚĞdžƉĞŶƐĞƐ Ψ Ψ

dZE^WKZdd/KE

ƵƚŽŵŽƚŽƌĐLJĐůĞŝŶƐƵƌĂŶĐĞ Ψ ΨƵƚŽŵŽƚŽƌĐLJĐůĞĨƵĞů Ψ ΨƵƚŽŵŽƚŽƌĐLJĐůĞƐĞƌǀŝĐĞ;ŵĂŝŶƚĞŶĂŶĐĞƌĞƉĂŝƌƐŝŶƐƉĞĐƚŝŽŶƐĞƚĐͿ Ψ ΨWƵďůŝĐƚƌĂŶƐƉŽƌƚĂƚŝŽŶ;DĞƚƌŽďƵƐĞƚĐͿƉĂƌŬŝŶŐƚŽůůƐƌŝĚĞƐŚĂƌŝŶŐ Ψ ΨKƚŚĞƌƚƌĂŶƐƉŽƌƚĂƚŝŽŶĞdžƉĞŶƐĞƐ Ψ Ψ

,>d,

DĞĚŝĐŝŶĞƐĂŶĚƐƵƉƉůĞŵĞŶƚƐ Ψ Ψ,ĞĂůƚŚŝŶƐƵƌĂŶĐĞĚĞĚƵĐƚŝďůĞƐĐŽƉĂLJƐ Ψ ΨKƚŚĞƌŚĞĂůƚŚĞdžƉĞŶƐĞƐ;ĚĞŶƚŝƐƚƐŐůĂƐƐĞƐĐŽŶƚĂĐƚƐĞƚĐͿ Ψ Ψ

3,201.090.00

3,201.09 0.00

300.00150.00

450.00 0.00

900.0020.00150.0075.00

300.00300.00

175.00

120.00100.00

WZ^KE>E&D/>z

ŚŝůĚĐĂƌĞ Ψ ΨŚŝůĚƐƵƉƉŽƌƚ Ψ ΨůŽƚŚŝŶŐĂŶĚƐŚŽĞƐ Ψ Ψ>ĂƵŶĚƌLJƐĞƌǀŝĐĞĚƌLJĐůĞĂŶŝŶŐ Ψ ΨDŽŶĞLJŐŝǀĞŶŽƌƐĞŶƚƚŽŶŽŶͲƌĞƐŝĚĞŶƚĨĂŵŝůLJŵĞŵďĞƌƐ Ψ ΨŽŶĂƚŝŽŶƐ;ĐŚĂƌŝƚŝĞƐƚŝƚŚŝŶŐĞƚĐͿ Ψ ΨŶƚĞƌƚĂŝŶŵĞŶƚ;ŵŽǀŝĞƐƐƚƌĞĂŵŝŶŐƐĞƌǀŝĐĞƐŵĂŐĂnjŝŶĞƐĞƚĐͿ Ψ ΨsĂĐĂƚŝŽŶƐ Ψ ΨWĞƚƐ Ψ ΨDĞŵďĞƌƐŚŝƉƐĂŶĚƐƵďƐĐƌŝƉƚŝŽŶƐ Ψ ΨKƚŚĞƌƉĞƌƐŽŶĂůŽƌĨĂŵŝůLJĞdžƉĞŶƐĞƐ Ψ Ψ

Kd,ZyWE^^

ĂŶŬĐƌĞĚŝƚĐĂƌĚdDĂŶĚŽƚŚĞƌĨĞĞƐ Ψ Ψ^ĐŚŽŽůĐŽƐƚƐ;ƚƵŝƚŝŽŶƐƵƉƉůŝĞƐĞƚĐͿ Ψ ΨEŽŶͲŵŽŶƚŚůLJĞdžƉĞŶƐĞƐ;ůŝĨĞŝŶƐƵƌĂŶĐĞƉĞƌƐŽŶĂůƉƌŽƉĞƌƚLJƚĂdžĞƐĞƚĐͿ¹ϭϮ Ψ Ψ'ŝĨƚƐ;ĞƐƚŝŵĂƚĞĚĂŶŶƵĂůĞdžƉĞŶƐĞƐ¹ϭϮͿ Ψ ΨKƚŚĞƌĞdžƉĞŶƐĞƐ Ψ Ψ

hEd'KZ/yWE^^

Ψ ΨΨ ΨΨ Ψ

dŽƚĂůŵŽŶƚŚůLJĞdžƉĞŶƐĞƐ Ψ Ψ

/ĨLJŽƵƌŝŶĐŽŵĞŝƐŵŽƌĞƚŚĂŶLJŽƵƌĞdžƉĞŶƐĞƐ LJŽƵŚĂǀĞŵŽŶĞLJůĞĨƚƚŽƐĂǀĞŽƌƐƉĞŶĚ/ĨLJŽƵƌĞdžƉĞŶƐĞƐĂƌĞŵŽƌĞƚŚĂŶLJŽƵƌŝŶĐŽŵĞůŽŽŬĨŽƌĞdžƉĞŶƐĞƐƚŽƌĞĚƵĐĞŽƌĐƵƚ

EdtKZd,dŽƚĂůǀĂůƵĞŽĨƐĂǀŝŶŐƐŝŶǀĞƐƚŵĞŶƚƐƌĞĂůĞƐƚĂƚĞƉĞƌƐŽŶĂůƉƌŽƉĞƌƚLJ ΨͲdŽƚĂůŝŶĚĞďƚĞĚŶĞƐƐ;ŵŽƌƚŐĂŐĞĐĂƌůŽĂŶƐƐƚƵĚĞŶƚůŽĂŶƐĞƚĐͿ ΨсEĞƚǁŽƌƚŚ Ψ

ĐƚƵĂů/ŶĐŽŵĞ ĐƚƵĂůdžƉĞŶƐĞƐ ĐƚƵĂůŝĨĨĞƌĞŶĐĞΨ Ͳ Ψ с Ψ

/ŶĐŽŵĞ'ŽĂů džƉĞŶƐĞ'ŽĂů ŝĨĨĞƌĞŶĐĞ'ŽĂůΨ Ͳ Ψ с Ψ

ƵƌƌĞŶƚĞďƚͲƚŽͲ/ŶĐŽŵĞZĂƚŝŽ й dŽĐĂůĐƵůĂƚĞĚĞďƚͲƚŽͲŝŶĐŽŵĞƌĂƚŝŽ

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3,201.09 3,390.00 -188.91

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Flight Plan to Financial Freedom

Warning Signs of Credit Abuse

Credit cards make spending easy and may encourage you to spend more than you can repay. The following are possible warning signs that you have taken on too much debt:

• You have less than one month’s take-home pay in savings.

• You can only afford the minimum monthly payments on credit cards.

• You have more income committed to debt repayments each month than you did the month before.

• You are falling behind on payments and receiving late notices.

• You use credit to pay regular living expenses, like utilities.

• You are at or near credit limits on credit cards most of the time.

• Your debt-to-income ratio is more than 20% (or 36%, if mortgage payments are included in the calculation).

%XXLMWTSMRXƼRERGMEPGSYRWIPMRKMWVIGSQQIRHIHXSLIPTMRMXMEXIETPERSJEGXMSRXSVIHYGIHIFXThings are reaching the critical stage when an individual or family is:

• Rotating bills by paying some this month, some next month.

• Borrowing or getting cash advances to make payments — using credit to pay credit.

• Denied additional credit due to problems on credit reports.

• Hiding bills or being dishonest with family members about debts.

• Seeking additional money from predatory lending sources, such as payday loans or refund anticipation loans.

• Having to rely on a debt-consolidation loan to reduce payments enough to meet monthly living expenses.

%XXLIGVMXMGEPTSMRXƼRERGMEPGSYRWIPMRKMWIWWIRXMEPXSIWXEFPMWLETPERXSVIHYGIHIFXXSE manageable level.

SOURCES OF HELP

• %MVQERERH*EQMP]6IEHMRIWW'IRXIV%*6' TIVWSREPƼRERGMEPGSYRWIPSVWERHIHYGEXSVW

• =SYVPSGEPQMPMXEV]GVIHMXYRMSRƅWƼRERGMEPGSYRWIPSVW

• 2SRTVSƼXGSRWYQIVGVIHMXGSYRWIPMRKEKIRGMIW

• &EWIPIKEPSƾGI

• The Consumer Financial Protection Bureau (CFPB)

• Military OneSource

Flight Plan to Financial Freedom

Paying off Student Loans Student Loan Repayment Options for Military Borrowers

GETTING STARTED

Determine Debt Balance:8LIƼVWXWXITXSQEREKMRK]SYVWXYHIRXPSERHIFXMWXSYRHIVWXERH[LIVI]SYWXERH[MXL]SYVHIFX;MXLQMPMXEV]QSZIWEHHVIWWGLERKIWZEVMEFPIHYIHEXIWERHXLITEWWEKISJXMQIMXMWIEW]XSPSWIXVEGOSJSRISVQSVISYXWXERHMRKPSERW-XMWMQTSVXERXXSORS[LS[QYGL]SYS[IERHXS[LSQWS]SYGERWXE]SRXSTSJVITE]QIRX

Identify Loan Servicers:1SWXWXYHIRXW[MPPLEZIFIIRMWWYIHQYPXMTPIPSERWIEGLTSXIRXMEPP]EWWMKRIHXSEHMJJIVIRXWIVZMGIV%PSERWIVZMGIVGSPPIGXWTE]QIRXWJVSQFSVVS[IVW7XYHIRXPSERWIVZMGIVWGERMRGPYHIER]SVEPPGSPPIKIWSVWGLSSPWEXXIRHIHFEROWERHSXLIVPIRHIVWSVTVMZEXIGSQTERMIWWTIGMEPM^MRKMRPSERQEREKIQIRX=SYWLSYPHQEOIWYVI]SYORS[[LS]SYVPSERWIVZMGIVWEVIERHLEZIGSRXEGXMRJSVQEXMSRJSVXLIQ

Consider Options:1SWXVITE]QIRXTPERWEVIWTIGMƼGXSSRISVQSVIPSERTVSKVEQWERHGERRSXFIYWIH[MXLSXLIVW8LIVIEVIERYQFIVSJJIHIVEPWXYHIRXPSERTVSKVEQWXLSYKLQSWXMRHMZMHYEPW[MPPLEZIFIIRJYRHIHF]NYWXSRISVX[SSJXLIQ-J]SYLEZIQYPXMTPIMRWXERGIWSJXLIWEQIPSERX]TI[MXLHMJJIVIRXWIVZMGIVW]SYQYWXQEOIXLIWEQIVIUYIWXXSIEGLWIVZMGIV

Stay Current with Loan Payments:8LIWXERHEVHVITE]QIRXTPERJSVWXYHIRXPSERWMWIUYEPQSRXLP]TE]QIRXWSV]IEVW8LIMRXIVIWXVEXISRJIHIVEPPSERWMWƼ\IHEXXLIXMQIEPSERMWWMKRIHERHHSIWRSXGLERKIHYVMRKXLIPMJISJXLIPSER7SQITVMZEXIPSERWLEZIEHNYWXEFPIVEXIW=SYWLSYPHRSXVIHYGISVGLERKITE]QIRXWYRXMP]SYEVIHMVIGXIHXSHSWSF]]SYVPSERWIVZMGIV(IPMRUYIRG]ERHHIJEYPXSRWXYHIRXPSERWGERLEZIWIZIVIRIKEXMZIGSRWIUYIRGIWJSVJYXYVIGVIHMXLSYWMRKSTXMSRWERHIQTPS]EFMPMX]

Build a Spending Plan:/RS[MRK]SYVGYVVIRXƼRERGMEPWMXYEXMSRMRGPYHIWEGGSYRXMRKJSVQSVIXLERNYWX]SYVWXYHIRXPSERHIFX8SIRWYVIXLEX]SYYRHIVWXERH]SYVSZIVEPPƼRERGMEPWXEXYW]SYWLSYPHQEOIEFYHKIXSVWTIRHMRKTPER8LMW[MPPLIPT]SYWIILS[]SYVWXYHIRXPSERTE]QIRXWERHHIFXƼXMRXS]SYVGYVVIRXWTIRHMRK

STUDENT LOAN TYPES

FEDERAL LOANS*IHIVEPWXYHIRXPSERWJEPPMRXSX[SGEXIKSVMIW

• (MVIGX0SERWƈ(MVIGXƉQIERWXLEXXLIJIHIVEPJYRHMRKGSQIWXSXLIƼRERGMEPEMHSƾGISJXLIWGLSSPSVGSPPIKIVEXLIVXLERFIMRKJYRRIPIHXLVSYKLEGSQQIVGMEPFERO(MVIGX0SERTVSKVEQWMRGPYHI(MVIGX7YFWMHM^IH0SERW(MVIGX9RWYFWMHM^IH0SERW(MVIGX40970SERWERH(MVIGX'SRWSPMHEXMSR0SERW8LIWIPSERWQE]EPWSFIVIJIVVIHXSEWƈ7XEJJSVH0SERWƉ

• 4IVOMRW0SERW8LIWIEVIWQEPPRIIHFEWIHPSERWJSVWXYHIRXW[MXLI\GITXMSREPRIIH8LIQSRI]GSQIWJVSQXLI97(ITEVXQIRXSJ)HYGEXMSRFYXMWWIVZMGIHF]XLIWGLSSPSVGSPPIKIXLEXSJJIVWXLIPSER

PRIVATE EDUCATION LOANS 4VMZEXIP]MWWYIHWXYHIRXPSERWEPWSGEPPIHƈEPXIVREXMZIƉWXYHIRXPSERWEVIMRXIVIWXKIRIVEXMRKMRWXVYQIRXWTVSQSXIHF]FEROWERHSXLIVPIRHIVW4VMZEXIPSERWSJJIVJI[IVGSRWYQIVTVSXIGXMSRWERHJI[IVSTTSVXYRMXMIWXSVIWLETITE]QIRXXIVQW0MOIXLIPSERWTISTPIXEOISYXJSVLSYWIWERHGEVWEWXYHIRXƅWGVIHMXWGSVIMRƽYIRGIWXLIXIVQWSJTVMZEXIPSERWERHVITE]QIRXGERFIKMRMQQIHMEXIP]SRHMWFYVWIQIRX8LIPSERƅWXIVQWQE]MRGPYHIMRGVIEWMRKMRXIVIWXSZIVXMQI

Flight Plan to Financial Freedom

MANAGEMENT OPTIONS

Service members Civil Relief Act (SCRA): 8LI7'6%GETWXLIMRXIVIWXVEXISRHIFXSFXEMRIHTVMSVXS]SYVQMPMXEV]WIVZMGIEXHYVMRKTIVMSHWSJEGXMZIHYX]8LMWMRGPYHIWWXYHIRXPSERWƂJIHIVEPERHTVMZEXIƂEW[IPPEWGSRWYQIVPSERWERHGVIHMXGEVHW8LI7'6%EPWSETTPMIWXS2EXMSREP+YEVHERH6IWIVZITIVWSRRIP[LIXLIVMRWXEXISVJIHIVEPWIVZMGI'LIGO[MXL]SYVMRWXEPPEXMSRPIKEPWIVZMGIWSƾGIEFSYXLS[XLI7'6%QE]ETTP]XS]SY

College Loan Repayment Program (CLRP):9RHIVXLI'064IRPMWXIH%MVQIRQE]FIIPMKMFPIJSVEWWMWXERGIXSVITE]TSWXWIGSRHEV]IHYGEXMSREPPSERWFEWIHYTSRXLIMVVEXIERHXLIWTIGMƼGXIVQWERHGSRHMXMSRWPMWXIHSRXLIMVSVMKMREPIRPMWXQIRXGSRXVEGX8LI%MV*SVGI[MPPVITE]YTXSJSVWXYHIRXPSERWSFXEMRIHTVMSVXSIRPMWXQIRX8LI%MV*SVGI6IWIVZIWHSRSXSJJIVXLI'064TVSKVEQ%MV2EXMSREP+YEVHQIQFIVWQE]FIIPMKMFPIJSVXYMXMSREWWMWXERGIHITIRHMRKSRXLIWXEXIMR[LMGLXLI]VIWMHI

Public Service Loan Forgiveness:8LI4YFPMG7IVZMGI0SER*SVKMZIRIWW470* 4VSKVEQQE]LIPTFSVVS[IVW[LSMRXIRHXSQEOIXLIQMPMXEV]EGEVIIVSVXVERWMXMSRMRXSNSFWMRXLITYFPMGSVRSRTVSƼXWIGXSVW-J]SYUYEPMJ]XLIVIQEMRMRKFEPERGISJ]SYVJIHIVEP(MVIGX0SERWQE]FIJSVKMZIR=SYQYWXFIIQTPS]IHJYPPXMQIMREUYEPMJ]MRKKSZIVRQIRXSVRSRTVSƼXTYFPMGWIVZMGISVKERM^EXMSRMRGPYHMRKQMPMXEV]WIVZMGIERHQEOIUYEPMJ]MRKTE]QIRXWEJXIV3GXSFIV 8SHIXIVQMRIIPMKMFMPMX]]SY[MPPRIIHXSWYFQMXER)QTPS]QIRX'IVXMƼGEXMSRJSV4YFPMG7IVZMGI0SER*SVKMZIRIWWJSVQ

Deferment:9RHIVGIVXEMRGSRHMXMSRWTE]QIRXSRXLITVMRGMTEPSJWXYHIRXPSERWQE]FIWYWTIRHIHJSVETIVMSHSJXMQI0SERWQE]FIHIJIVVIHJSVYTXSXLVII]IEVW[LMPIFSVVS[IVWGSRXMRYIXLIMVIHYGEXMSRWIVZISREGXMZIHYX]SVHIEP[MXLEƼRERGMEPLEVHWLMT8LIPSERWIVZMGIVHIXIVQMRIWHSGYQIRXEXMSRVIUYMVIQIRXW4VMZEXIPIRHIVWQE]LEZIHIJIVQIRXSTXMSRW

Forbearance: *SVFIEVERGISVXLIWYWTIRWMSRSJTE]QIRXWQE]FIKVERXIHXSFSVVS[IVW[LSHSRSXUYEPMJ]JSVHIJIVQIRXSVLEZII\LEYWXIHHIJIVQIRXSTXMSRW4VMZEXIPIRHIVWQE]LEZIJSVFIEVERGISTXMSRW

Graduated Repayment:+VEHYEXIHVITE]QIRXWXVYGXYVIWEWXYHIRXPSERWSXLEXXLIFSVVS[IVTE]WPIWWMRXLIIEVP]]IEVWSJVITE]QIRXERHQSVIPEXIVSRTVIWYQEFP][LIRXLIFSVVS[IVMWFIXXIVIWXEFPMWLIHƼRERGMEPP]8LIXIVQSJEKVEHYEXIHVITE]QIRXTPERMW]IEVW&IGEYWIXLITVMRGMTEPHSIWRSXHIGVIEWIEWUYMGOP]XLIXSXEPGSWXSJFSVVS[MRKEXXLIIRHSJ]IEVW[MPPFILMKLIVXLERYRHIVEWXERHEVHVITE]QIRXTPER

Extended Payment: %RI\XIRHIHTE]QIRXTPERGERVIHYGITE]QIRXWF]WTVIEHMRKXLIQSZIVETIVMSHSJYTXS]IEVW1SWXJIHIVEPPSERWUYEPMJ]JSVI\XIRHIHVITE]QIRX,S[IZIVXLIFSVVS[IVQYWXS[IQSVIXLERXSFIGSRWMHIVIH)\XIRHIHVITE]QIRXTPERWGEREPWSFIKVEHYEXIH4E]QIRXW[MPPFIPS[IV[MXLERI\XIRHIHTE]QIRXTPERFYXXLIXSXEPGSWXSJFSVVS[MRKTVMRGMTEPTPYWMRXIVIWXTEMH [MPPFIQYGLLMKLIV

Payment Reductions:-RGSQIHVMZIRVITE]QIRXSTXMSRWHMJJIVF]XLIPSERTVSKVEQW XS[LMGLXLI]ETTP]XLIGSRHMXMSRWFSVVS[IVWQYWXQIIXERHXLIPIRKXLSJXLITE]QIRXWGLIHYPI8LI]EPWSLEZITVSGIHYVEPERHFIRIƼXHMJJIVIRGIW3TXMSRWMRGPYHIXLI6IZMWIH4E]%W=SY)EVR4PER6)4%=) ERHXLI4E]%W=SYV)EVR4PER4%=) ;MXLFSXLTPERWXLIQSRXLP]TE]QIRXMWSJXLIFSVVS[IVƅWHMWGVIXMSREV]MRGSQIFYXRIZIVQSVIXLER[LEXXLIFSVVS[IV[SYPHTE]YRHIVXLI]IEV7XERHEVH6ITE]QIRX4PER6ITE]QIRXTIVMSHGERFIXS]IEVWHITIRHMRKSRXLIPSERERHTPER

Consolidation Loans:'SRWSPMHEXMSRPSERWQE]FIEZEMPEFPIXSGSQFMRIWXYHIRXPSERWMRXSEWMRKPITE]QIRXYRHIVSRIWIVZMGIV8LIIJJIGXMZIMRXIVIWXVEXIMWYWYEPP]EPMXXPILMKLIVXLER[LEX]SYLEZIFIIRTE]MRKERHXLIXIVQSJXLIPSERQE]FII\XIRHIHƂYTXS]IEVWƂ[LMGLQIERWXLEXXLIGSWXSJXLIFSVVS[IHQSRI][MPPFILMKLIVMRXLIIRH=SYGERGSRWSPMHEXIPSERWSRP]SRGI1ER]ƼRERGMEPI\TIVXWEHZMWIXSRSXGSRWSPMHEXIJIHIVEPWXYHIRXPSERW[MXLTVMZEXIWXYHIRXPSERWFIGEYWIHSMRKWSGERVIWYPXMRPSWMRKSTXMSRWWYGLEWJIHIVEPTVSXIGXMSRWVITE]QIRXSTXMSRWERHPSERJSVKMZIRIWW

Before you select a repayment option or loan consolidation, you should be aware of all your options and of the consequences of the option you select. Contact your loan servicer or private loan lender to discuss which option is best for your situation. The Federal Student Aid website (https://studentaid.ed.gov/sa/repay-loans) contains detailed information about repayment and consolidation loan options for federal student loans.

Flight Plan to Financial Freedom

USEFUL WEBSITES

• 'SRWYQIV*MRERGMEP4VSXIGXMSR&YVIEY'*4& LXXTW[[[GSRWYQIVƼRERGIKSZTE]MRKJSVGSPPIKIVITE]WXYHIRXHIFX

• *IHIVEP(MVIGX'SRWSPMHEXMSR0SER LXXTWWXYHIRXEMHIHKSZWEVITE]PSERWGSRWSPMHEXMSRTEKI

• *IHIVEP7XYHIRX0SER6ITE]QIRX)WXMQEXSV LXXTWWXYHIRXPSERWKSZQ](MVIGX0SERQSFMPIVITE]QIRXVITE]QIRX)WXMQEXSVEGXMSR

• *IHIVEP7XYHIRX%MH6ITE]QIRX3TXMSRW LXXTWWXYHIRXEMHIHKSZWEVITE]PSERW

• *IHIVEP7XYHIRX%MH3QFYHWQER LXXTWWXYHIRXEMHIHKSZWEVITE]PSERWHMWTYXIWTVITEVI

• 2EXMSREP7XYHIRX0SER(EXE7]WXIQ270(7 LXXTW[[[RWPHWIHKSZRWPHWRWPHWC7%

• 4YFPMG7IVZMGI0SER*SVKMZIRIWW4VSKVEQ LXXTWWXYHIRXEMHIHKSZWEVITE]PSERWJSVKMZIRIWWGERGIPPEXMSRTYFPMGWIVZMGI

• 97(ITEVXQIRXSJ)HYGEXMSR0SER(IJEYPX6IWSPYXMSR+VSYT LXXTWQ]IHHIFXIHKSZ

OTHER RESOURCES

CFPB Private Education Loan Ombudsman )QEMP'*4&3QFYHWQER$GJTFKSZ 4LSRI 88= *E\ LXXTW[[[GSRWYQIVƼRERGIKSZGSQTPEMRX

Federal Student Aid Ombudsman Group 4LSRI *E\

Direct Consolidation Loan Application 4LSRI 88= LXXTWWXYHIRXPSERWKSZQ](MVIGX0SERPEYRGL'SRWSPMHEXMSREGXMSR#KE!