Hi all — thanks in advance for any advice. I’m feeling pretty overwhelmed and trying to understand what’s going on with my student loans. Also sorry for formatting, I’m posting from mobile.
Right now, I owe a little over $10,000 immediately, and my monthly payments are showing as around $3,000, which caught me completely off guard. After I graduated, I had been paying a few hundred dollars per month. Then payments stopped during the government shutdown, and I also missed last month. When I logged in this month to make a payment and catch up on what I missed, my balance and required payment suddenly jumped. I honestly don’t know whether something changed or whether I misunderstood what I was supposed to be paying all along.
I graduated from law school in May 2025, and I knew the loans would be significant — I just didn’t realize how severe the payments would be right away. My school never really explained repayment in a meaningful way, and when I reached out to financial aid, I didn’t get much concrete guidance. I also have some undergrad loans, but the vast majority is from law school.
Personal / income background
• I’m currently single, but getting married next fall.
• My fiancée is finishing graduate school and is currently unemployed; her future salary is uncertain.
• In 2024, I reported $19,883 in income from a summer law firm job.
• I currently work for the federal government as a law clerk, earning about $75,000, and that position ends next August.
• After my clerkship, I expect to work at a large law firm with a salary around $225,000, plus a clerkship bonus of at least $50,000.
Loans (current balance / interest rate / disbursement date)
• Grad PLUS — $4,295 (9.08%) — 3/31/25
• Grad PLUS — $95,202 (9.08%) — 8/21/24
• Direct Unsubsidized — $22,395 (8.08%) — 8/21/24
• Direct Grad PLUS — $96,781 (8.05%) — 8/29/23
• Direct Unsubsidized — $23,584 (7.05%) — 8/29/23
• Direct Grad PLUS — $33,366 (7.54%) — 8/19/22
• Direct Unsubsidized — $23,590 (6.45%) — 8/19/22
• Direct Unsubsidized — $2,406 (4.53%) — 8/16/19
• Direct Subsidized — $5,284 (4.53%) — 8/16/19
I’m mainly trying to understand:
• Why my required monthly payment is so high right now
• Whether this is normal given my situation
• And what options I might have short-term before my income increases next year
Any insight would be greatly appreciated.
Posted by PubeSalad420
7 Comments
A standard 10 year payment for a $300k loan balance would be about $3k a month. If you want a payment based on your income you would have to apply for an IDR plan
When is the last time you certified your income? Start here to look at payment options and calculators: [https://studentaid.gov/loan-simulator/](https://studentaid.gov/loan-simulator/)
Apply for PAYE or IBR and aggressively repay more than the minimum required payment.
Go on IBR until you go to BigLaw. Then go standard repayment and pay them off as fast as you can so you can get out of BigLaw.
Looks like all your loans are federal in your own name, which is incredibly fortunate for you. You can apply for an IDR plan and get a payment based on your income online at https://studentaid.gov/idr
Yes if you owe around $300k I would expect the 10-year Standard plan (the automatic one if you do not select a different plan) to be around $3,000/month. If you cannot afford that then an income-driven repayment (IDR) plan is a good bet
> • In 2024, I reported $19,883 in income from a summer law firm job.
> • I currently work for the federal government as a law clerk, earning about $75,000, and that position ends next August.
You can apply using your most recent tax return on file, which with your 2024 return? You’re going to get a $0/month payment for the next year on IBR or PAYE with that low of an AGI. That will change when you recertify your income with your 2025 tax return next year
> • After my clerkship, I expect to work at a large law firm with a salary around $225,000, plus a clerkship bonus of at least $50,000.
That money doesn’t exist yet. Once you actually have that job and the first paycheck you can *then* re-assess your overall strategy for handling your student loans. Fundamentally with federal loans your options are 1) aggressive repayment, 2) PSLF or similar employer based forgiveness programs, or 3) IDR plan based forgiveness. With a “large law firm” salary? You’re going to be weighing aggressive repayment vs an IDR plan
Get on an income based plan for the next year and once you get the new position start paying off your loans aggressively.
High interest too. You are about to bill 2500+hrs for a long long time partner!
That $180k of Grad Plus is wild… Did you go to a really good law school? At that level of borrowing it’s like Ivy or not amazing private.