So I’m graduating in just under 3 months...
At the moment my MOHELA account:
001) Principal: $42,722.00. Interest: 5.84%
Accrued interest: $8,397.36
Payoff amount: $51,119.36
002) Principal: $73,995.00. Interest: 6.84%
Accrued interest: $17,034.91
Payoff amount: $91,029.91
003) Principal: $47,167.00. Interest: 5.31%
Accrued interest: $6,022.97
Payoff amount: $53,189.97
004) Principal: $79,041.00. Interest: 6.31%
Accrued interest: $11,994.09
Payoff amount: $91,035.09
005) Principal: $47,167.00. Interest: 6.00%
Accrued interest: $3,969.68
Payoff amount: $51,136.68
006) Principal: $52,000.00. Interest: 7.00%
Accrued interest: $5,105.87
Payoff amount: $57,105.87
007) Principal: $29,978.00. Interest: 7.00%
Accrued interest: $2,943.47
Payoff amount: $32,921.47
008) Principal: $45,056.00. Interest: 6.60%
Accrued interest: $1,112.04
Payoff amount: $46,168.04
009) Principal: $29,234.00. Interest: 7.60%
Accrued interest: $830.83
Payoff amount: $30,064.83
010) Principal: $55,000.00. Interest: 7.60%
Accrued interest: $1,563.17
Payoff amount: $56,563.17
TOTALS
Current principal: $501,360.00
Accrued interest: $58,974.39
Payoff amount: $560,334.39
Whew, that was painful just to type up, let alone begin to payoff.
So here’s the deal. I’m doing a one year residency next year starting this July. They’ll be compensating me $58,000 before taxes (NY). I get health insurance and benefits. Unsure of 401k or anything like that, still awaiting confirmation on that. After next year, my plan is to be employed, making around $150,000 to start. Each year will come with additional pay. Some practices pay based on production, so it’s kind of futile to estimate. The plan later on is to own my own practice, netting a much greater income.
I don’t have any assets or savings, so essentially starting from scratch.
My school had some half assed attempt at teaching us how to tackle this Mount Everest of a debt, but failed miserably. So I’m coming to you, r/PersonalFinance. Where do I begin?
Submitted March 07, 2019 at 10:10PM by theRZA001 https://ift.tt/2IWpXjP
