Loans???????

[MagsBudz]

I am a soon to be M1. I am a long time from PGY-1 but I have a question. I'm sure many of you have taken out loans for your medical education and I was wondering if you have started paying them off. If so, what do your monthly payments look like? I'm looking at probably about 200,000 of loans. Did you get them deferred till post-residency?? I am completely lost and I was wondering how these loans that I am taking out going to impact my life in residency and post.

Any advice would be greatly appreciated!!
Thanks so much.
'
Maggie

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[bkpa2med]

Go to http://www.mortgage-calc.com and punch in the numbers. I believe the initial loans are set for 10 yr repayment and the current interest rate is 6.8%. Remember though that anything above $190k I believe is private loans.

So here's a sample run for you :

Loan Amount: $190,000
Interest: 6.8%
Years: 10

Payment: $2,186.53 a Month