Repayment plan?

[MadameLULU]

What did most of y'all choose (Standard, extended, graduated, income contigent) and why?

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[Caverject]

standard- cost me less money at the end.

 

[raidermedic]

I went with a graduated plan. This way I can be sure that I will not run into trouble with payments and loose my bonuses. Pllus there is no penalty for early payment so I could always pay the standerd amount and reduce the payments that way.

 

[DireWolf]

I chose the standard plan because it was most cost-effective for me.

But here's an interesting question:

Does your repayment plan effect your eligibility for deferment?

Economic hardship deferment (the most common type) is based on a formula that takes into account your monthly loan payment and monthly salary.

If you choose to have very small monthly loan payments for the first few years, wouldn't this potentially make you ineligible for economic hardship deferment based on the formula?

 

[tlew12778]

Standard bc it was the one that cost me the least.

But, I started out with interest-only. That was a total ripoff as I made 14 months of payments that did not touch principle at all.

 

[MS05']

Standard bc it was the one that cost me the least.

But, I started out with interest-only. That was a total ripoff as I made 14 months of payments that did not touch principle at all.

Will probably do the interest only payments and try to pay a little extra to chip away at that principle. The difference that I'd pay between the interest only and the standard payment is being split into my roth IRA and another mutual fund (both of which have a greater than 10% yield per life of the fund).

 

[Nimmuk]

Will probably do the interest only payments and try to pay a little extra to chip away at that principle. The difference that I'd pay between the interest only and the standard payment is being split into my roth IRA and another mutual fund (both of which have a greater than 10% yield per life of the fund).

I am a first yr medical student who would love to invest in a mutal fund. Do you care to give some insight to what type of mutal fund you have?

THank you