I was perusing some old blog posts and noticed that it was recommended that once graduating med school you should take full advantage of the 6 month grace period before making any payments on your student loans.
I would argue that it is some situations, particularly those going for PSLF, it is better to skip the 6 month grace period all together.
For most people on IBR/PAYE/REPAYE, as a full time student the prior year your income was probably $0. Even if you did make a few bucks (up to $15-20k-ish) your IBR payment is still $0. If you forgo the 6 month grace period you still get credit towards PSLF of 6/120 payments, even though you paid nothing. Ten years later when you have an attending salary, you are making max payments. If you took "advantage" of the 6 month grace period, now you still have 6 more months of max payments to make before your loans are forgiven. In my case, this would have been worth over $20k. Some will get more benefit, others less.
Did you use, or do you plan on using, the entire 6 month grace period? Is this still the general recommendation?
Perhaps PSLF will blow up and this won't even matter.
I would argue that it is some situations, particularly those going for PSLF, it is better to skip the 6 month grace period all together.
For most people on IBR/PAYE/REPAYE, as a full time student the prior year your income was probably $0. Even if you did make a few bucks (up to $15-20k-ish) your IBR payment is still $0. If you forgo the 6 month grace period you still get credit towards PSLF of 6/120 payments, even though you paid nothing. Ten years later when you have an attending salary, you are making max payments. If you took "advantage" of the 6 month grace period, now you still have 6 more months of max payments to make before your loans are forgiven. In my case, this would have been worth over $20k. Some will get more benefit, others less.
Did you use, or do you plan on using, the entire 6 month grace period? Is this still the general recommendation?
Perhaps PSLF will blow up and this won't even matter.
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