Medical School Loan Repayment

[CyrusHabs7695]

Hey guys, looking for some advice/confirmation that im doing the correct thing after I graduate this spring regarding my loans. Ive read through multiple sites and just want to make sure im doing the right thing.

Traditional student, 25 y/o, went right from undergrad to med school, minimal undergrad debt.

Coming out with 240k in 100% federal student loans from med school.

Non-married, no kids. Going into Rads.

So what I gathered from hours of reading is assuming im not going for the public forgiveness program, the best thing I can do after graduating is consolidating all my federal loans into one, then enter the REPAYE program, then following residency graduation, refinance the remaining loans into private loans.

The one question I have is, is it better to do what I described as above, or refinance into private loans through a place like SoFi or something right after graduation because they have pretty low interest rates.

Sorry if these are dumb questions, but I dont really have anybody to ask. Thank you guys in advance

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[abolt18]

Hey guys, looking for some advice/confirmation that im doing the correct thing after I graduate this spring regarding my loans. Ive read through multiple sites and just want to make sure im doing the right thing.

Traditional student, 25 y/o, went right from undergrad to med school, minimal undergrad debt.

Coming out with 240k in 100% federal student loans from med school.

Non-married, no kids. Going into Rads.

So what I gathered from hours of reading is assuming im not going for the public forgiveness program, the best thing I can do after graduating is consolidating all my federal loans into one, then enter the REPAYE program, then following residency graduation, refinance the remaining loans into private loans.

The one question I have is, is it better to do what I described as above, or refinance into private loans through a place like SoFi or something right after graduation because they have pretty low interest rates.

Sorry if these are dumb questions, but I dont really have anybody to ask. Thank you guys in advance

If Sofi will give you better than 1/2 your averaged interest rate, then sure, refinance early. But I would say you may be better off sticking with RePAYE. You just don't know what kind of job you'll take after residency +/- fellowship (which would put you 6+ years into PSLF if you did fellowship).

I was SURE I was going to go private practice but kept riding the PSLF wave. Now I actually ended up taking a job that is employed by a 501c3 which will qualify for PSLF. That's going to be $300K+ forgiven when all is said and done.