My wife and I are both 26, and we have some student loan debt. Now when I say 'some,' I mean a shit-ton. Between the two of us, I think we are around 350k (I'm not at a desk that has access to the full records). Of that, about 40k is mine. The rest is all hers. Luckily, she got an MD out of it, so we got that going for us.
I have been paying my loans for about 4 years, and she started making payments on hers in, I think, August. We are both doing IBR, and the payments are manageable. The issue is that she is still in her residency, making crap (about 50k), so the payments she is making now barely dent it. I doubt it even covers interest.
For this reason, we have heavily been considering PSLF to get her loans forgiven in ten years. The way we see it is this - her residency is 4 years, and her employer makes her eligible for it. If she elects to do a fellowship, it will be another 3 years of crap pay, but with another employer who makes her eligible for PSLF. At that point, she would only need 3 more years for everything to be wiped out. She may make a little less working for a non-profit, but if its only for three years I don't see it being a huge drain.
So my question is - does this sound ok?
Submitted February 13, 2017 at 11:43AM by theryman http://ift.tt/2kjQbAd
