Med loan debt questions that aren't answered on websites

[toothless rufus]

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Members do not see this ad.

Or at least not easily found:

Can you do forbearance through residency, then switch to IBR?

If you are married, but your wife has zero loans, is it a bad idea to file jointly for IBR? (plan on filing singly: are there any benefits to jointly?)

Is there still a straight 25 year repayment option?

 

[TMP-SMX]

If you do not have partial financial hardship, you wouldn't be eligible to switch to IBR after residency.

From: http://www.ibrinfo.org/faq.vp.html
"What is a "partial financial hardship"?
A partial financial hardship is when the 10-year standard monthly payment on what you owed when you first entered repayment is more than 15% of discretionary income. You must have a partial financial hardship to be eligible for IBR."

"The calculator indicates that I am not eligible for IBR when I include my spouse's income, but might be if I file my taxes separately from my spouse. What should I do?
It is true that you and your spouse are allowed to file your taxes separately in order to take advantage of IBR. However, you may lose certain tax benefits when you file separately, such as the Earned Income Tax Credit, or the ability to deduct the interest you pay on your student loans. Unfortunately there's no easy way to compare the benefits gained by lower payments through IBR and those lost by filing separately.
For married borrowers who file their taxes jointly, lenders will factor in the couple's total federal student loan debt, as well as their total income, to calculate payments. Originally, IBR did not recognize that joint income has to cover both spouses' federal loan payments, resulting in payment requirements up to twice what two equivalent single people would have to pay. More information is available here. The Department's IBR Q&A also has information about married borrowers."


You should try to do IBR during residency if possible.

More information about your wife would help. How much is her income?

Last, through IBR, you have the option of public service loan forgiveness after 10 years of working through a nonprofit hospital. If not that, then you would be forgiven after 25 years.