I was wondering if anyone had any thoughts on my situation. I'm about to finish residency, and have a job that will pay $280k. My student loan debt is $390k with $95k of outstanding interest. Like a fool, I used forbearance, and have missed 5 years of PSLF while in residency (plus the accrued interest). The position I am taking is a 501c3, but I could see myself moving into PP in 3 years (and earning more like $400-500k). My average loan rate is 7.2% fixed for 10 years (not refinanced). My question is what to do now.
Do I go for PSLF and save the rest on the side, in case I stay within the 501c3, or do I refinance as an attending and try to crush the loans ASAP? I should be able to allocate $8-10k/mo to the loans, if needed.
Also, in relation, how much should I be putting into retirement vs. loans? I get 10% of my salary straight into a 403b by the employer. I was thinking I would just max out my $18k 401k and apply the rest to loans.
Any thoughts would be greatly appreciated!
Do I go for PSLF and save the rest on the side, in case I stay within the 501c3, or do I refinance as an attending and try to crush the loans ASAP? I should be able to allocate $8-10k/mo to the loans, if needed.
Also, in relation, how much should I be putting into retirement vs. loans? I get 10% of my salary straight into a 403b by the employer. I was thinking I would just max out my $18k 401k and apply the rest to loans.
Any thoughts would be greatly appreciated!
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