7+ Year Member
May 17, 2013
  1. Medical Student (Accepted)
What type of student loan repayment option do you recommend a PGY1 Anesthesia resident take?

- Pay As You Earn (PAYE) - will allow you to take advantage of Public Service Loan Forgiveness so that after 10 years of on-time payments (4 years residency + 6 years as attending working in non-profit hospital) the remainder of your loans are forgiven.
  • Pro: you might save 50-60k via loan forgiveness.
  • Cons: you have to work at a non profit hospital so you might miss out on higher paying private practice salaries.
- Standard 10 year loan repayment and consolidate loans with private bank to reduce interest -
  • Pro: can take higher paying private practice job after 4 years of residency.
  • Cons: higher payments as resident; have to pay back entire loan out of pocket.

I have spoken to friends who are ER docs and they usually make considerably more money working in private practice than they do in non-profit hospitals. Thus for them it might make more sense to go with the latter option so they can work in private practice. My problem is that I don't know how much of a difference there is between private practice vs non-profit anesthesiologist salaries.


5+ Year Member
Jul 12, 2015
  1. Medical Student
Consider REPAYE as half your interest during residency is subsidized--and you still leave the option of PSLF vs. aggressive repayment after graduating residency.
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