loan repayment

[lobon]

As the economic hardship deferment is disappearing this year, residents can elect to forbear for 3 years then move to income based repayment OR begin income-based repayment right away ... Does anyone know which strategy results in lower interest payments over the life of the loan. We could assume 100K at 6.8% with resident salary of 45K and attending salary 200K

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[EternalMD]

During my exit interview, I had received a summary information letter which contained a website on the bottom which I had found very useful:

www.usafunds.org

You can use the loan calculator in conjunction with excel to accurately follow what you can expect as a monthly payment and by hitting the "details" link after following the 3-4 steps, see how much interest you will have paid off over the lifetime of the loan.