I'm a first year IM resident with about 230k in loans between 6 and 7.9% interest. I plan on entering REPAYE after grace period, and on paying my loans quickly after graduation (no PSLF). Recently a family member passed away and left some money that they wanted to go toward our student loans. I have about 20k to use, and I feel like I should apply it to my loans even if it isnt the optimal move, financially speaking. Honoring wishes, and all that.
My loans are unconsolidated and one in particular is about 17k at 7.9% interest. My plan is to just pay it off completely prior to entering repayment in November. Is this a good plan? Will it affect the subsidy that my interest will get under REPAYE? And, practically speaking is it pretty straightforward to direct a payment to one particular loan?
My loans are unconsolidated and one in particular is about 17k at 7.9% interest. My plan is to just pay it off completely prior to entering repayment in November. Is this a good plan? Will it affect the subsidy that my interest will get under REPAYE? And, practically speaking is it pretty straightforward to direct a payment to one particular loan?
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