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Ask Farnoosh

Ask Farnoosh about money, work, life, or a recent guest below and she'll do her best to answer your question during an upcoming Friday episode on So Money. Record a message below or type in your question.

Ask Farnoosh, Farnoosh Torabi

STREAM THE INTERVIEW BY CLICKING HERE.

On today’s episode of Ask Farnoosh, answering your questions about reducing the interest on a six-figure student loan figure, choosing a travel rewards card and how to afford graduate school. Is it always worth it?

Resources mentioned:

Sukh asks:

Hi Farnoosh, thank you so much for all the good information you have been providing on you Podcast. Have 2 unrelated question.

1) I have student loans worth about 200k and the interest rate is about 7.5%. I had tried to refinance the loan with my bank but they said I need a co-singer due to the fact I lack ” individual credit history (and I don’t have any one to co-sign.).. So I called Equifax and they told me I have great credit history, my score is in 750’s and I have never been late on my payments. What other options do I have to bring that interest rate down?

2) My mom has a Roth IRA and she is 54 years old. Does she have to withdraw all the money from her Roth by the time she is 59 1/2 or can she leave it there until she retires?

MJ asks:

I am 39, single, and applying to grad school in order to obtain an MPH, hopefully starting school within the next 12 months.  I spent my 30’s digging myself out of the financial mess I created in my 20’s and am now financially stable (low expenses and no debt with an emergency fund, Roth IRA, and 401k).  However, I can’t pay for school out of pocket, and, ideally, I will quit my current job to focus on school and reenter the job market when I complete the 2-year program.  I am likely to take a pay cut when I do reenter the job market.  What considerations do I need to make in terms of taking on student loan debt and pausing on retirement savings?  I am very certain that I want to pursue this degree.

Seema asks:

How can I find out about socially conscious/ socially responsible mutual funds/stocks that do as well as big corporate mutual funds/stocks? I enjoy investing, but of course don’t want to invest in McDonald’s etc.

Lilli asks:

Hi Farnoosh! I currently have a cash rewards card and am coming up on my one year card holder anniversary.  I was thinking of switching to a travel rewards card. I also want to ask for higher credit limit and lower interest. Should I do this within my existing credit card company or open an additional card? Thanks!

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