Debt Planning & Management For Medical Professionals
We can lighten your debt burden!
Designing Your Custom Debt Repayment Plan
Eliminate Debt & Build Wealth With Prime
Have your monthly payments recaptured by experienced professionals in the field
Reduce the total interest you pay and lighten your financial load
Determine your risk tolerance and maintain a healthy cash flow
Get professional advice to improve your credit score and increase your borrowing ability
Build an effective customized repayment strategy that fits your long-term goals
With Prime Financial Services You Get The Debt Relief You Need. The Support You Deserve.
We Make Debt Management Easy!
Visibility
Get complete knowledge of your financial situation. Our experienced advisors will guide you through a process to make informed choices about your debt and create a plan that works for you.
Organization
We help you get organized your debt, from small to large, so it’s easier to manage. We sort out the different kinds of debt and find ways to minimize the total interest paid.
Personalization
We determine your risk profile and create a personalized strategy to get out of debt and achieve long-term financial stability.
Get one step closer to a debt-free lifestyle!
What Our Clients Are Saying
“Howard, Jason, and the PRIME team are always honest and very quick to respond. Whenever I’ve needed them to help with something, big or small I always feel comfort that they are there”.
Executive Technology Consultant, NJ
“I have been with PRIME since my residency, and first met them at their seminar. I was surprised that they were even better in person than they were during the presentation. This was not usually true with all the vendors we had come to the hospital. With that said, they’ve always been there for me from the beginning. Now I have a family, a crazy shift schedule, and a busy life and we are very happy that we have this relationship”.
Emergency Physician, CA
“Prime is always very comforting and detailed with my financial planning. Whether it’s guidance with my tax planning, or laying out a financial path, they are always listening and building our wishes. They have helped me build a successful practice while also supporting our own individual financial goals for over 15 years”.
Pediatrician, CT
“Jason is always ready and willing to help with some very useful advice. The team always finds a way to ease my concerns in a quick manner. My husband and I like to interact quite a bit with them, and they always respond quickly. While I am sure that Jason is very busy, he and the team always make us feel like they have all the time in the world just for us”.
Medical Director, NY
“Jason is always ready and willing to help with some very useful advice. The team always finds a way to ease my concerns in a quick manner. My husband and I like to interact quite a bit with them, and they always respond quickly. While I am sure that Jason is very busy, he and the team always make us feel like they have all the time in the world just for us”.
Medical Director, NY
Other Services We offer
Business Creation
For more than 65 years, PRIME has provided tax planning services to physicians. We understand your unique needs.
Learn More
Tax Planning
For more than 65 years, PRIME has provided tax planning services to physicians. We understand your unique needs as a resident, fellow, hospital administrator, or private practice owner.
Learn More
Debt Planning
We'll help you tackle the root problems of your debt by analyzing all aspects of your financial situation.
Learn More
Investment Planning
Investing isn’t always about how much you have in your account. It should be about having the money available when you need it. We help physicians invest by building personalized investment programs based on their time horizon, risk tolerance, tax situation, and preferences.
Learn More
Insurance Services
As a doctor, you deserve the best protection! Let us help you with our specialized insurance plans that cover all three types of risks: Life, Disability, and Long-Term Care.
Learn More
Retirement Services
PRIME simplifies retirement planning for doctors with customized guidance and real-time tracking to ensure your plan aligns with your financial goals. We can help you answer that ever-so-present question: “How much do I need?”
Learn MoreFAQ's
If you believe that you will spend at least ten years in a qualifying institution (non-profit hospital) and, as a general rule, your student loan amount is equal to or greater than your first-year attending income, then it does not make sense to refinance your student loans and leave the public service loan forgiveness program. If you don’t meet these qualifications you will want to look at the options between the loan forgiveness payment plans that waive interest and the interest rates being offered at private banks.
When you plan for paying off debt the interest rate plays a key role. For high-interest debt, the goal should be to lower the interest rate or eliminate that debt. Eliminating high-interest debt becomes a priority over almost all other financial opportunities. At lower interest rates, debt can be managed and at times even leveraged. It is generally unwise to forgo investments and retirement savings to pay down low-interest debt.
Without a plan to pay off debt, interest charges can add up quickly and end up costing you more money, failure to make payments on time can lower your credit score, and can limit your ability to pursue other financial goals.
Yes, there are several loan repayment programs specifically designed for medical professionals, like; Public Service Loan Forgiveness (PSLF), National Health Service Corps (NHSC) Loan Repayment Program, Indian Health Service (IHS) Loan Repayment Program, State-based loan repayment programs. We at PRIME customize a repayment strategy that fits your long-term goals. To know your options, contact us at: https://www.pfinancialservices.com/contact
Medical professionals need to weigh the potential benefits and risks of investing while paying off debt and determine what approach makes the most sense for their financial situation and goals. It may also be helpful to work with a financial advisor to develop a comprehensive plan that takes into account both debt repayment and investing strategies.
Tax benefits, such as the Lifetime Learning Credit and student loan interest deduction, are available for medical professionals with student loan debt. However, consulting a qualified tax professional to determine which strategies may be most beneficial for your circumstances is better since this will help explore all the available tax benefits, maximize savings and reduce their overall student loan burden.
Financial advisors can help you navigate the complex world of debt planning by assessing your overall financial situation, developing a repayment plan, recommending investment strategies, and providing ongoing support. We at PRIME provide you with qualified advisors who can create a plan tailored to your unique needs and goals, ultimately helping you achieve greater financial security and peace of mind.