CuriousPharmD

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I currently work for the VA and single and take home $5500 after taxes each month...but after student loans, rent, insurance, cc debt, and other expenses i'm not satisfied with the money that is left over...what do you guys do to make extra income??

i currently work MF from 330-12am...working during the week in the mornings really doesnt appeal to me and i dont want to work saturday cuz i would like 1 day to enjoy myself...so that leaves me sunday to work to pick up an extra shift somewhere, but i find it hard to find an employer to just hire me for sunday afternoons/evenings...any advice??
 

bacillus1

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It says you're a pharmacy student.

Are you a pharmacist? Also, are you clinical or staff? 5500 seems kind of low. I was seeing posting on VAjobs for about 100k a year for clinical pharmacists.
 

MountainPharmD

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I currently work for the VA and single and take home $5500 after taxes each month...but after student loans, rent, insurance, cc debt, and other expenses i'm not satisfied with the money that is left over...what do you guys do to make extra income??

i currently work MF from 330-12am...working during the week in the mornings really doesnt appeal to me and i dont want to work saturday cuz i would like 1 day to enjoy myself...so that leaves me sunday to work to pick up an extra shift somewhere, but i find it hard to find an employer to just hire me for sunday afternoons/evenings...any advice??
So what is your status? I take it you are not a pharmacy student. For a Pharmacist $5,500 net seems a little low. Several years ago quite a few of the VA pharmacists I knew worked PRN for Walgreens on thier days off.
 

DAW2

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wow you guys are banking! thats how much i took home too...when i was single and the gubment had their way with me and i maxed out my 401k and after insurance and stuff. and that's retail
 

mipharmd

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5500 is low?? really?
i take home 5000 and thats without a 401K take out since I cannot start it til next month
 

stevephhs016

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you work work MF from 330-12am

then work another shift 1am-330pm\

and work sat and sun.
 

type b pharmD

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This post makes me sick.

Cant survive on $5500 a month? I am embarrassed for my generation. Did going to school for years give you a sense of entitlement?
 
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PharMed2016

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So what is your status? I take it you are not a pharmacy student. For a Pharmacist $5,500 net seems a little low. Several years ago quite a few of the VA pharmacists I knew worked PRN for Walgreens on thier days off.
$5,500 net after taxes and stuff is equivalent to approximately ~ 66k after taxes. That means he must earn about 90ish a year at the VA (which sounds reasonable if just a tad bit low.) :confused:

I wonder if this isn't the first push for pharmacist salary in the other direction. Especially given that the supply of pharmacist has met demand and probably will exceed demand in certain places of the country.
 

type b pharmD

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$5,500 net after taxes and stuff is equivalent to approximately ~ 66k after taxes. That means he must earn about 90ish a year at the VA (which sounds reasonable if just a tad bit low.) :confused:

I wonder if this isn't the first push for pharmacist salary in the other direction. Especially given that the supply of pharmacist has met demand and probably will exceed demand in certain places of the country.
How much you think VA benefits are worth? 30k a year or so? Govt jobs always pay on the low end , cash compensation wise.
 

MountainPharmD

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$5,500 net after taxes and stuff is equivalent to approximately ~ 66k after taxes. That means he must earn about 90ish a year at the VA (which sounds reasonable if just a tad bit low.) :confused:
I took a second look at the numbers. $5,500 net is probably right for 90 to 100k a year once you subtract federal taxs, possibly state taxes, benefits, and 401k contributions.

Look for a PRN position at one of the retail chains or at a hospital. I worked for a staffing agency PRN for awhile. It was a sweet deal and paid very well. Once the economy tanked the calls for work have been few and far between.
 

bacillus1

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I took a second look at the numbers. $5,500 net is probably right for 90 to 100k a year once you subtract federal taxs, possibly state taxes, benefits, and 401k contributions.

Look for a PRN position at one of the retail chains or at a hospital. I worked for a staffing agency PRN for awhile. It was a sweet deal and paid very well. Once the economy tanked the calls for work have been few and far between.
Thing is, (s)he said just taxes, so made me think that (s)he isn't doing 401k/insurance/etc... that makes that # seem like 80k or so, which is really low. Hopefully you're right and that's after benefits/contributions.
 

genesis09

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I make nearly $120k and after taxes, insurance, etc my biweekly check is only $2940. I am in Wisconsin, and so, state income taxes are about 6.5%. A monthly check of $5500 is not out of line in my opinion.
 

type b pharmD

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I make nearly $120k and after taxes, insurance, etc my biweekly check is only $2940. I am in Wisconsin, and so, state income taxes are about 6.5%. A monthly check of $5500 is not out of line in my opinion.
This is $6300 a month, for those of you who were too lazy to calculate. And after insurance and retirement money.. that is a ****ing large amount of $$$
 
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dudecoolname

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This is $6300 a month, for those of you who were too lazy to calculate. And after insurance and retirement money.. that is a ****ing large amount of $$$
I don't think this includes savings and personal retirement. I think its pretty reasonable to be a bit upset that 30%+ of your income gets taken away.
 

type b pharmD

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I don't think this includes savings and personal retirement. I think its pretty reasonable to be a bit upset that 30%+ of your income gets taken away.
Yeah, savings and extra retirement beyond your 401k comes out of your personal after tax money.

And if you're making in the top 5% (like we are), it is your obligation to contribute money to taxes to help out the poor people, this is how it has always been. Until reagan, top earners were paying what. 50% tax?
 
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And if you're making in the top 5% (like we are), it is your obligation to contribute money to taxes to help out the poor people, this is how it has always been. Until reagan, top earners were paying what. 50% tax?
Yes, I remember when the tax rate was cut from 50% to I think 36% or something in that area, I was so happy.

I remember hearing Reagan talk about making movies the 40's and 50's when the top tax rate was over 90%. After you hit the top tax rate income threshold for the year there was really no point in working any more the rest of the year.
 

CuriousPharmD

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It says you're a pharmacy student.

Are you a pharmacist? Also, are you clinical or staff? 5500 seems kind of low. I was seeing posting on VAjobs for about 100k a year for clinical pharmacists.
yea i am a pharmacist...just changed my status...im currently staff and 5500 a month after taxes is not low when your pretax monthly income is over 8000..
 

CuriousPharmD

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This post makes me sick.

Cant survive on $5500 a month? I am embarrassed for my generation. Did going to school for years give you a sense of entitlement?
did i say i cant survive or i'm not satisfied??? guess you cant read correctly? and who are you to judge me?? comments like this make me sick...
 

CuriousPharmD

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$5,500 net after taxes and stuff is equivalent to approximately ~ 66k after taxes. That means he must earn about 90ish a year at the VA (which sounds reasonable if just a tad bit low.) :confused:

I wonder if this isn't the first push for pharmacist salary in the other direction. Especially given that the supply of pharmacist has met demand and probably will exceed demand in certain places of the country.
my salary is a little over 105000/yr...i just get raped with the taxes since i am single i only get about 67% of my gross after taxes and social security
 

type b pharmD

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did i say i cant survive or i'm not satisfied??? guess you cant read correctly? and who are you to judge me?? comments like this make me sick...
Ok i should have said "not satisfied with 5500 a month"

and yes, i am sickened by people's equating money or material things with happiness.. cause your earlier post is basically saying "I know i earn more money than 90% of the population, but it's not enough for me to be satisfied" .. aka - "i need more money to be satisfied"

Perfectly fine for you to want that in this free country, but it's still within other people's rights to call you greedy for it
 

Style

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Ok i should have said "not satisfied with 5500 a month"

and yes, i am sickened by people's equating money or material things with happiness.. cause your earlier post is basically saying "I know i earn more money than 90% of the population, but it's not enough for me to be satisfied" .. aka - "i need more money to be satisfied"

Perfectly fine for you to want that in this free country, but it's still within other people's rights to call you greedy for it
"Never Stressed" Chill man. Guy just wants to know how to make some extra money. You don't know what his situation is and you already seem to judge. Who is to say he may or may not want it to pay off debt sooner rather than later. Anyways, its his business as to what he wants the extra money for. He didn't even need to tell anyone how much he made and could have just stated it as a simpler question. Would that have made it easier for you? No one needs a hard time for asking an opinion about this.
 

type b pharmD

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"Never Stressed" Chill man. Guy just wants to know how to make some extra money. You don't know what his situation is and you already seem to judge. Who is to say he may or may not want it to pay off debt sooner rather than later. Anyways, its his business as to what he wants the extra money for. He didn't even need to tell anyone how much he made and could have just stated it as a simpler question. Would that have made it easier for you? No one needs a hard time for asking an opinion about this.
He said he was not satisfied. If he had worded it in a different way I probably would have been less sad.
 

CuriousPharmD

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Ok i should have said "not satisfied with 5500 a month"

and yes, i am sickened by people's equating money or material things with happiness.. cause your earlier post is basically saying "I know i earn more money than 90% of the population, but it's not enough for me to be satisfied" .. aka - "i need more money to be satisfied"

Perfectly fine for you to want that in this free country, but it's still within other people's rights to call you greedy for it
please...your right about having the right to call me greedy...BUT if you ask ANYBODY...if they had a choice to make more money they would do it...and if you are really bothered by how i stated my dissatisfaction about my salary situation...then why you trying to help with the blood issue? and i guess being in 150000 in debt and trying to save up for a house, car and for retirement arent a big deal to you too..
 

CuriousPharmD

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"Never Stressed" Chill man. Guy just wants to know how to make some extra money. You don't know what his situation is and you already seem to judge. Who is to say he may or may not want it to pay off debt sooner rather than later. Anyways, its his business as to what he wants the extra money for. He didn't even need to tell anyone how much he made and could have just stated it as a simpler question. Would that have made it easier for you? No one needs a hard time for asking an opinion about this.
thank you...somebody thats normal and reasonable...
 

type b pharmD

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please...your right about having the right to call me greedy...BUT if you ask ANYBODY...if they had a choice to make more money they would do it...and if you are really bothered by how i stated my dissatisfaction about my salary situation...then why you trying to help with the blood issue? and i guess being in 150000 in debt and trying to save up for a house, car and for retirement arent a big deal to you too..
I think i was just raised different than most of the people on here. Being in debt is not a big deal to me with income based repayment. I also eventually plan to live in a double wide and drive an old used car. I guess if you have an expensive condo and a nice car, having some extra money would be great.
 

CuriousPharmD

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I think i was just raised different than most of the people on here. Being in debt is not a big deal to me with income based repayment. I also eventually plan to live in a double wide and drive an old used car. I guess if you have an expensive condo and a nice car, having some extra money would be great.
you just sound like you dont have any perspective at all and you just jump to conclusions...i dont live in an expensive condo...i live in a crappy apt. that costs 700/mo with people who make minimum wage and i drive in a crappy 95 4runner that cost me 900 bucks with 195000 miles on it...the point is to better my life in the future to own my own house, drive a better car and to save for retirement so i dont work til i die...doesnt sound to GREEDY or unreasonable to me....thank you come again...
 
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you just sound like you dont have any perspective at all and you just jump to conclusions...i dont live in an expensive condo...i live in a crappy apt. that costs 700/mo with people who make minimum wage and i drive in a crappy 95 4runner that cost me 900 bucks with 195000 miles on it...the point is to better my life in the future to own my own house, drive a better car and to save for retirement so i dont work til i die...doesnt sound to GREEDY or unreasonable to me....thank you come again...

:laugh: :laugh: :laugh: That was the best part. Sounded like what one of the local convenience store owners says sometimes. Thanks for the laugh. :)
 

PumpkinSmasher

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the point is to better my life in the future to own my own house, drive a better car and to save for retirement so i dont work til i die...doesnt sound to GREEDY or unreasonable to me....thank you come again...
Owning a house and driving a better car will not necessary better your life.;)

I am all for increasing earning power and finding creative ways to make more income, I just do not see a linear relationship with better material objects and better life.

Is there any way you can pickup some extra outpatient shifts at the VA? I would say your best bet is to signup with a prn staffing company and tell them you are available on Sundays and see what happens from there.
 

dudecoolname

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Even though this isn't meant to be a political debate ill just say that for most of Americas history there was no income tax. There are other ways for Uncle Sam to collect revenue. Why tax success?

Anyways to the OP, try online niche marketing. I have a cousin who makes decent money off of an online business he started.
 

MountainPharmD

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I think i was just raised different than most of the people on here. Being in debt is not a big deal to me with income based repayment. I also eventually plan to live in a double wide and drive an old used car. I guess if you have an expensive condo and a nice car, having some extra money would be great.
you just sound like you dont have any perspective at all and you just jump to conclusions...
That would sum up 99.9% of this person's posts on SDN. Good for a nice laugh and that is it. It is not possible for type b to be anymore clueless and naive....It will be a real eye opener once they hit the real world.
 

StevePerry

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Ok i should have said "not satisfied with 5500 a month"

and yes, i am sickened by people's equating money or material things with happiness.. cause your earlier post is basically saying "I know i earn more money than 90% of the population, but it's not enough for me to be satisfied" .. aka - "i need more money to be satisfied"

Perfectly fine for you to want that in this free country, but it's still within other people's rights to call you greedy for it
Anyone ever see the South Park that references the worst kind of hippies of all... the "college-freshman-hippie-know-it-alls"? Down in the basement Type B, down in the basement...
 

BMBiology

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There are not too many options to make extra income if you are not planning to work part-time as a pharmacist at another pharmacy. How about teaching students to pass the tech exam?

And yes, 100 k is not that much after taxes. You are still well off but money is still a concern especially when you have a family.
 

type b pharmD

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Anyone ever see the South Park that references the worst kind of hippies of all... the "college-freshman-hippie-know-it-alls"? Down in the basement Type B, down in the basement...
Speaking of experience, how about you guys go out and work to fully support yourself on $10 an hour or less, then come back to me and talk about how $100k isnt satisfying.
 
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BMBiology

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have you worked full time to support yourself on less than $10 / hr?
You need to stop using a few words that someone wrote and make an argument about it. The OP is just saying an annual salary of $100,000 is not that much after taxes and she/he would like to make some extra pocket on the side. That is perfectly reasonable especially if you have to pay $1500-2000 a month in student loans.
 

type b pharmD

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You need to stop using a few words that someone wrote and make an argument about it. The OP is just saying an annual salary of $100,000 is not that much after taxes and she/he would like to make some extra pocket on the side. That is perfectly reasonable especially if you have to pay $1500-2000 a month in student loans.
If the op had simply asked about how to make more money, I would not have let it get to me. But saying "5500 doesnt leave me enough money for spending money to be satisfied" i guess just tripped my trigger. Coming from a farm town background and having been working class myself, it is highly irritating seeing people with such large amounts of money claim to be dissatisfied. How do you think techs would feel if they heard us saying something like this?

And paying back loans that quickly is a choice not a requirement.

To the op, i'm sorry for lashing out at you. I think this has been building up inside me due to the constant amazing amount of greed that I witness day to day among my pharmacy student classmates. Did not mean to take it out on you, I guess I just had to vent. Maybe I will try talking to them instead since face to face conversation may end up being more productive

And to the people saying my points are completely baseless since I have not been a pharmacist - you dont need to be a pharmacist to know how much money it takes to live comfortably off of. In fact the only prereq for knowing that is to have worked to support yourself. A lot of times I think there are some people in my pharmacy class who have never worked to support themselves a day in their lives.
 
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BMBiology

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To the op, i'm sorry for lashing out at you. I think this has been building up inside me due to the constant amazing amount of greed that I witness day to day among my pharmacy student classmates. Did not mean to take it out on you, I guess I just had to vent. Maybe I will try talking to them instead since face to face conversation may end up being more productive
Get some professional help.
 

type b pharmD

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Get some professional help.
How is it bad to want people to be happier in life?

I worry occasionally for some of my friends who believe that more money will make them happier. Attachment to material objects or goods and services can not end up yielding a great life
 

StevePerry

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How is it bad to want people to be happier in life?

I worry occasionally for some of my friends who believe that more money will make them happier. Attachment to material objects or goods and services can not end up yielding a great life
You make for great inadvertent comedy.
 

Aznfarmerboi

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How is it bad to want people to be happier in life?

I worry occasionally for some of my friends who believe that more money will make them happier. Attachment to material objects or goods and services can not end up yielding a great life
IBR does not apply to us. A lot of people have private loans. Even if the option exist, it would be an extremely poor choice to go the IBR route. IBR was designed more in mind for people coming out of college with a bachelor degree.

I agree with everybody that 5500 is not a lot. If you subtract interest on student loans from the net, you are left with 4500 (1k of my 3k in payments each month goes to interest... ). Add another 1 to 2k into principle and you are left with 2.5k. Then subtract rent, gas, utilities, food, professional dues, insurance, etc and it is barely enough to save up/raise a family. Can he survive? Sure... but I would still have a lot of things in the back of my head to worry about.

Keep in mind that most people dont support a family on 10 dollars an hour. If they do, they get government help including food stamps, medicaid (worth 12k a year), credits on their tax return (~7k), etc.
 
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stevephhs016

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Man, I run on 5k/month after everything, 401k taxes, and I still can save. That's after a 113k private loan and a maxed out stafford loan.

And I'm working retail....
 

type b pharmD

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IBR does not apply to us. A lot of people have private loans. Even if the option exist, it would be an extremely poor choice to go the IBR route. IBR was designed more in mind for people coming out of college with a bachelor degree.

I agree with everybody that 5500 is not a lot. If you subtract interest on student loans from the net, you are left with 4500 (1k of my 3k in payments each month goes to interest... ). Add another 1 to 2k into principle and you are left with 2.5k. Then subtract rent, gas, utilities, food, professional dues, insurance, etc and it is barely enough to save up/raise a family. Can he survive? Sure... but I would still have a lot of things in the back of my head to worry about.

Keep in mind that most people dont support a family on 10 dollars an hour. If they do, they get government help including food stamps, medicaid (worth 12k a year), credits on their tax return (~7k), etc.
IBR does exist, and we ARE eligible. Yes it was designed for bachelors degrees, but if we make only 100,000 and have 200,000 or more in loans, it actually ends up being a better deal unless you are attempting to pay off the loan pronto, then repayment is a better plan. But going 15+ years and have more than twice your income in loans, ibr saves money.
 
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when i read the title of this, i was thinking like little jobs on the side... haha

me and a friend buy and sell daily on craigslist... beats any part time intern job lol
 

Aznfarmerboi

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IBR does exist, and we ARE eligible. Yes it was designed for bachelors degrees, but if we make only 100,000 and have 200,000 or more in loans, it actually ends up being a better deal unless you are attempting to pay off the loan pronto, then repayment is a better plan. But going 15+ years and have more than twice your income in loans, ibr saves money.
I never said that we are NOT eligible. I said that it does not APPLY. Most of us have 150k in student loans when we come out. Not all of that is FEDERAL.

Even if it was federal, you would still be better paying it off as soon as possible. You pay less over the long run (if the interest rate is 6.8 percent)! You also lose out your student loans add to your "debt to income/capital" ratio which means you lose money due to higher interest rates on other loans such as a mortgage... if you can get one. For example, provided you have a 20 percent down payment on a 400k house, 300k+150k debt/100k salary = a higher mortgage rate versus 300k/100k.

For somebody living in NYC, make that 500k+ 150k/100k.

Also, that is assuming that they don't change regulations, your income doesn't rise (which is almost guaranteed), you don't get married increasing your income, etc

Either way, I would love to see this bumped in a few years when you graduate. Just keep in mind that IBR was designed in mind for people who have high debt relative to their income. While we do have a lot of debt, it is not high relative to income.

Off the topic, is anybody on this board on IBR? I highly doubt it... but maybe somebody can prove me wrong.
 
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PHARMDhope2b

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Speaking of experience, how about you guys go out and work to fully support yourself on $10 an hour or less, then come back to me and talk about how $100k isnt satisfying.
Whoa!! you need to calm down.

They just asked how to make extra money!! For that matter, I am glad the question was asked for I am looking at things to do on the side as well.

I like to use per diem/ part time gigs as spending money on trips, clothes, things of that nature and my full time for bills, savings, 401k, etc.

PS. we dont have to work for $10/hr and try to support ourselves.........thats why we became pharmacist!!!

PSS. I fully want to make extra money for the aforementioned things. Im not being greedy, how about you support yourself through out pharmacy school while working, going on rotation, and undergoing chemo for leukemia, (which in fact I am starting in about 30 min and I went to rotation today). Just dont jump to conclusions about why people want to work more....for we all know what happens when you ASSUME!
 

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I never said that we are NOT eligible. I said that it does not APPLY. Most of us have 150k in student loans when we come out. Not all of that is FEDERAL.

Even if it was federal, you would still be better paying it off as soon as possible. You pay less over the long run (if the interest rate is 6.8 percent)! You also lose out your student loans add to your "debt to income/capital" ratio which means you lose money due to higher interest rates on other loans such as a mortgage... if you can get one. For example, provided you have a 20 percent down payment on a 400k house, 300k+150k debt/100k salary = a higher mortgage rate versus 300k/100k.

For somebody living in NYC, make that 500k+ 150k/100k.

Also, that is assuming that they don't change regulations, your income doesn't rise (which is almost guaranteed), you don't get married increasing your income, etc

Either way, I would love to see this bumped in a few years when you graduate. Just keep in mind that IBR was designed in mind for people who have high debt relative to their income. While we do have a lot of debt, it is not high relative to income.

Off the topic, is anybody on this board on IBR? I highly doubt it... but maybe somebody can prove me wrong.
For the OP's sake...he'd want to pair IBR with PSLF assuming his loans are all federal. When I graduate in 2 years, all of my loans from rx school + undergrad are federal loans.

If you're strictly on IBR (ie you have private loans, work in the private sector, etc...), yeah pay off your loan asap. But if you have a huge federal loan and are pairing with PSLF, it's more advantageous to you to draw it out since it's all d/c'd at 10 years anyway.

EDIT: Actually, i don't even think IBR exists for private loans

For the record I don't know anyone with a private loan...everyone i know qualified for federal loans up to the cost of attendance and are maxing those out. I was under the impression that's how the loans worked? If you got a private loan, it was because you needed more $$ beyond the published cost of attendance.


OP -- get married. if you marry another pharmacist, income may double but your expenses won't. better yet, pick up prn shifts at the hospital.

Also, how do your loans look and are you enrolled in IBR/PSLF? if you're on the full 10 year payment plan, you probably should NOT be doing that based on your place of employment.
 

spacecowgirl

brr
15+ Year Member
Feb 27, 2004
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in an igloo
Status
Pharmacist
For the OP's sake...he'd want to pair IBR with PSLF assuming his loans are all federal. When I graduate in 2 years, all of my loans from rx school + undergrad are federal loans.

If you're strictly on IBR (ie you have private loans, work in the private sector, etc...), yeah pay off your loan asap. But if you have a huge federal loan and are pairing with PSLF, it's more advantageous to you to draw it out since it's all d/c'd at 10 years anyway.

EDIT: Actually, i don't even think IBR exists for private loans

For the record I don't know anyone with a private loan...everyone i know qualified for federal loans up to the cost of attendance and are maxing those out. I was under the impression that's how the loans worked? If you got a private loan, it was because you needed more $$ beyond the published cost of attendance.


OP -- get married. if you marry another pharmacist, income may double but your expenses won't. better yet, pick up prn shifts at the hospital.

Also, how do your loans look and are you enrolled in IBR/PSLF? if you're on the full 10 year payment plan, you probably should NOT be doing that based on your place of employment.
I do not qualify for IBR/PSLF because of a private loan (long story). I'm so disappointed.