I just graduated PA school and I’m about two months into my first job. I am making about $140K per year. Right now I have about $221,000 in student loans and have paid off about $4000 since starting work. My loans come out of deferment next month and I’m not really sure what the best plan is. My job qualifies for PSLF but this makes me nervous because I’m unsure if I want to work for a nonprofit for 10 years and/or if PSLF will still be around in 10 years. My loans currently range from about 4% to 9% interest. I could also try and refinance them to get a lower interest rate. With my current salary, I could pay about $3000-$4000 a month and still be financially stable. This would realistically knock them out in about 7 to 10 years by my calculations. What would be the best/smartest way to go about this?
$200k in debt, finance advice
byu/ThePAMaverick inStudentLoans
Posted by ThePAMaverick
2 Comments
GANGGGGG, I’m looking at 100k total for everything and so neevous (starting in fall) how are you managing 200k
It really depends on your goals but if you can knock them out in 7-10 years being debt free is pretty amazing psychologically.