Am I making a mistake with my student loans?
Your strongest plan is Income-Based Repayment (IBR): about $0/month now and $2,301/month as an attending. Payments on this plan count toward PSLF. The model assumes 120 qualifying monthly payments.
What's at stake
- Monthly during training
- $0
- Monthly as an attending
- $2,301
- Cost over the model
- $154,349
- Payments in today's dollars, plus tax on any non-PSLF forgiveness.
- PSLF
- Counts
- Payments on this plan count toward PSLF. The model assumes 120 qualifying monthly payments.
The strongest case for change
Enroll in Income-Based Repayment (IBR) and certify your employment for PSLF every year.
If you decide to move forward
- Log in to StudentAid.gov and confirm your loan types and disbursement dates.
- Apply for the recommended plan; recertify income every year.
- If your employer is a nonprofit or government body, submit the PSLF employer certification now.
- Model the same balance against another plan. Compare plans
What this is based on (high confidence)
- One weighted interest rate; all loans unsubsidized; payments on time and in full.
- PSLF assumes 120 consecutive qualifying monthly payments at a qualifying employer.
- The filing-status estimate uses single-filer tables for each spouse, which is close to, not identical with, married-filing-separately rules.