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When people generally are discussing the medical student loan debt figure, are they generally calculating in prior debt obligations or only the cost of medical school?
Agree with this^ The 'average' figure that I have heard around 180k-200k is med school alone. Although I would imagine most people end up with more than this after interest and compounding of any prior debt.
Taking out 320k, ending up with 400k+! Totally living the dream!
Plenty of my classmates are in the same boat as me. My school isn't exactly generous with the aid care of not having a deep endowment, so we fall into two camps, for the most part: those whose parents are paying their way and those who are taking out the full CoA in loans.@Psai
Omg, I feel so much better about my 240K. I was getting nervous about people saying their debt was between high 100's and 200k. Granted I also have another 45 from postbacc =/
@Psai
Omg, I feel so much better about my 240K. I was getting nervous about people saying their debt was between high 100's and 200k. Granted I also have another 45 from postbacc =/
Repaye is nice because they ask for 10% of take home pay and the rest of the interest is forgiven. So my loan is around 200k and it will grow by about 30k over 3 years. I'm looking to finish residency, do a fellowship and then refinance as an attending. I think the total amount I will end up repaying will end up in the vicinity of 250 to 300 depending on how quick I can pay it back
I'm lucky though, already paid back undergrad loans
Are we forced to defer repayment during med school? Can I make a salary of like $1 or even $0, start repayment on REPAYE where I pay 10% of my income each month (which would be basically nothing) and get half of the growing interest subsidized?Repaye is nice because they ask for 10% of take home pay and the rest of the interest is forgiven. So my loan is around 200k and it will grow by about 30k over 3 years. I'm looking to finish residency, do a fellowship and then refinance as an attending. I think the total amount I will end up repaying will end up in the vicinity of 250 to 300 depending on how quick I can pay it back
I'm lucky though, already paid back undergrad loans
Are we forced to defer repayment during med school? Can I make a salary of like $1 or even $0, start repayment on REPAYE where I pay 10% of my income each month (which would be basically nothing) and get half of the growing interest subsidized?
Any rules against that?
Are we forced to defer repayment during med school? Can I make a salary of like $1 or even $0, start repayment on REPAYE where I pay 10% of my income each month (which would be basically nothing) and get half of the growing interest subsidized?
Any rules against that?
Are we forced to defer repayment during med school? Can I make a salary of like $1 or even $0, start repayment on REPAYE where I pay 10% of my income each month (which would be basically nothing) and get half of the growing interest subsidized?
Any rules against that?
You can't enter repayment until you are done with school silly goose. Your status becomes "Deferred- In School" pretty much regardless of what you want.Are we forced to defer repayment during med school? Can I make a salary of like $1 or even $0, start repayment on REPAYE where I pay 10% of my income each month (which would be basically nothing) and get half of the growing interest subsidized?
Any rules against that?
Agree with this^ The 'average' figure that I have heard around 180k-200k is med school alone. Although I would imagine most people end up with more than this after interest and compounding of any prior debt.
I think you can't start repaye until you graduate. At least that's why I think I can't apply yet. There's a do doc who blogs about how she used credit cards to pay for tuition and move money around which I think is very smart but you probably need a great credit score to qualify for cards with no interest. My tuition increased by 20k while I've been in school.
Is there a website that lets you estimate how much total debt (including interest) you would end up with after 4 years of schooling?
AAMC has this site.Is there a website that lets you estimate how much total debt (including interest) you would end up with after 4 years of schooling?