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Dr. J? said:Unwise move, dude (the part about slaving away to pay your loans off ASAP). You're better off investing that money in the S&P 500 (8-10% rate of return, historically), rather than paying off your loans (which will be at approx. 3 %), as soon as you can. For this same reason, this is why it is important to have our consolidation loans amortized to the full 30 yrs. Paying it off any sooner and you're losing money on the deal (this is assuming you're using the extra money you would pay per month to invest in your 401k). We're already behind the eight-ball for investing in our retirement (since we are starting in our late 20's - early 30's). Your best bet is to consolidate and then make sure your 401k is fully-funded from Day 1 of your residency. Compounding interest is truly the 8th wonder of the world.
You took my post way out of context. Read the post directly above mine. I will not be consolidating my PRIVATE loan and will be slaving away to pay it off. My PRIVATE loan has a variable rate (prime rate). I know you don't think this, but if you think I can invest this money to beat a variable rate loan, you are niave. Sorry for the confusion.