Navigating Student Loans: The Challenges and Opportunities for Maryland Small Businesses

Authored by Judy Brown | Principal, Wealth Management Services
Published by The Baltimore Business Journal on July 28, 2023

According to a survey by the Ewing Marion Kauffman Foundation, 30% of small business owners who have or had student loans say it has impacted their ability to grow due to cash flow pressure. In Maryland, this financial strain may escalate in 2023 as three important events take place:

1. End of forbearance in August
2. Student loan payments begin again in October
3. A one-time account adjustment deadline set by the Federal government in December

In this article, Judy Brown shares how to maximize the many loan repayment options in Maryland and strategies to pay off loans faster while managing the cash flow of a small business. Read the full article to better understand the challenges and opportunities that Maryland small business owners face amidst the heavy weight of student loan debt.

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