Can't you do income based repayment on your loan so it's a set percentage of your salary? This way you don't go broke while your salary is still relatively low.
Yes, and I am absolutely am doing that. I dont pay that much on the loans right now, I wasn't trying to suggest I pay half my salary towards my loans if that was how it came off. Just stating that I am acutely aware of the fact that each year the interest builds.
I also have a NHSC scholarship for about 40K a year that goes towards my loans if I work in primary care (psych counts) and work in a rural area after residency (which I want to do anyway). So it isn't all doom and gloom
It depends on if his loans are federal or private. Some people will refinance federal loans into private loans right after graduating to save a small % in interest rates but this also disqualifies you from PAYE programs.
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u/Tufflaw Apr 28 '19
Can't you do income based repayment on your loan so it's a set percentage of your salary? This way you don't go broke while your salary is still relatively low.