Student loan debt

[Guest]

How long does it take to pay off student loans? When I come out of med school I will have about 400k in debt, and that’s not including interest.

[Guest]

(03-27-2020, 02:41 PM)Guest Wrote: How long does it take to pay off student loans? When I come out of med school I will have about 400k in debt, and that’s not including interest.

there is not a single answer to this. depends on if you are seeking public service loan forgiveness, your dedication towards paying off debt, your budget, your location, etc. During residency, one should be able to pay minimum payments and then once out of training, it really depends on what type of life you choose. If your starting salary is 300k+ out of residency and you continue living on your residency salary (55-65k) for several years, there is no reason you cannot pay off loans in 3 years give or take. Again, this is kind of a poor question and there are many resources for this (ie. white coat investor) and there is no single answer, it just depends on your personal behavior

[Guest]

(03-27-2020, 03:24 PM)Guest Wrote:

(03-27-2020, 02:41 PM)Guest Wrote: How long does it take to pay off student loans? When I come out of med school I will have about 400k in debt, and that’s not including interest.

there is not a single answer to this. depends on if you are seeking public service loan forgiveness, your dedication towards paying off debt, your budget, your location, etc. During residency, one should be able to pay minimum payments and then once out of training, it really depends on what type of life you choose. If your starting salary is 300k+ out of residency and you continue living on your residency salary (55-65k) for several years, there is no reason you cannot pay off loans in 3 years give or take. Again, this is kind of a poor question and there are many resources for this (ie. white coat investor) and there is no single answer, it just depends on your personal behavior

LOL u working in NYC?

[Guest]

(03-27-2020, 04:10 PM)Guest Wrote:

(03-27-2020, 03:24 PM)Guest Wrote:

(03-27-2020, 02:41 PM)Guest Wrote: How long does it take to pay off student loans? When I come out of med school I will have about 400k in debt, and that’s not including interest.

there is not a single answer to this. depends on if you are seeking public service loan forgiveness, your dedication towards paying off debt, your budget, your location, etc. During residency, one should be able to pay minimum payments and then once out of training, it really depends on what type of life you choose. If your starting salary is 300k+ out of residency and you continue living on your residency salary (55-65k) for several years, there is no reason you cannot pay off loans in 3 years give or take. Again, this is kind of a poor question and there are many resources for this (ie. white coat investor) and there is no single answer, it just depends on your personal behavior

LOL u working in NYC?

that's a conservative number boss. easy to show that loans are relatively manageable.