Time to payoff

Started by VCU07
This forum made possible through the generous support of SDN members, donors, and sponsors. Thank you.
Get help with your application

Use all the free resources available to you from SDN: articles, guides, expert advising, forums discussions, and school research.

VCU07

Member
15+ Year Member
Advertisement - Members don't see this ad
For those of you that have a lot in student loans, how long do you think it will take to pay them off? Currently I am looking at having 50-60k left on my PharmD loans when I start med. school. Realistically, when I finish MD I will prob. have around $300 or so total (not to mention accuring interest during this time). It seems to me that I would have no option but to specialize to pay off these loans (I don't plan on paying for 30 years). Does anyone have experience in this situation? I do plan on working as much as possible during school to offset some of this, but still!
 
I have to say that I am curious about this, too. I know that there are loan calculators out there that can help you figure this out, either by time to pay off given a certain monthly payment, or what monthly payment you need to make to pay it off within a given amount of time - theoretically, of course.

It would be great to hear other people's real life experiences with paying off $200K - $300K in loans, though. I never thought I'd even move back to my home town, but as I see my loans pile up, I've already started thinking about trying to move home for residency 😱 (if I matched there, of course) to save on rent & food and get a head start on those loans......