IBR Loan Repayment

[nm825]

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So I received my first MD acceptance today, and the realization of 300k+ in loans is starting to hit me. I haven't received an interview at my state school and even if I did, I still have to take out close to 250k, as UConn averages over $60k per year for IS.

So for IBR this is how I understand it...

You pay 15% of discretionary income and loans are forgiven after 25 years.

This is post-tax income, right?

So let's be very generous and say in 2022-2025, I find my first job as an attending at 250k...~175k post-tax, so 150k take-home, post-tax, post-loans, right?

Am I missing anything here? Is everyone guaranteed IBR?

Edit: You also have to pay a huge tax on whatever was written off of the loan after 20 years, rift?

 

[235009]

If you're making 200k+ you will no longer qualify for reduced payments under ibr and you will default back to the standard repayment plan so you will end up paying the majority of your loans back even if you extend to a 30 year repayment plan to try and run out the ibr clock.

Basically nice try but no