- Joined
- Jan 25, 2005
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My wife and I are graduating this spring with $430,000.00 total dept. We have $30k from private lenders (0%), and $400k in form of Stafford Loans (subsidized & unsubsidized) at 6.8%.
Our strategy is file taxes jointly and both to enroll into IBR. During residency our IBR will be relatively small. But we will pre-pay the amount of monthly interest that is accruing on this (~$1,300/mo for the unsubsidized portion, since IBR will pay for subsidized interest.)
I don't want to leave residency with $60k in interest added to my bill.
After residency we will look for [1] Hospital contracts that give loan repayment OR [2] Work for the 501c company and have loans forgiven after 120 payments. OR [3] work in some other type of arrangement to get some of these loans payed off by the employer.
Any future resident couples out there? What are your plans?
-please feel free to make any corrections to this plan.
Our strategy is file taxes jointly and both to enroll into IBR. During residency our IBR will be relatively small. But we will pre-pay the amount of monthly interest that is accruing on this (~$1,300/mo for the unsubsidized portion, since IBR will pay for subsidized interest.)
I don't want to leave residency with $60k in interest added to my bill.
After residency we will look for [1] Hospital contracts that give loan repayment OR [2] Work for the 501c company and have loans forgiven after 120 payments. OR [3] work in some other type of arrangement to get some of these loans payed off by the employer.
Any future resident couples out there? What are your plans?
-please feel free to make any corrections to this plan.