Current Events > Biden delaying student loan repayment. *chef's kiss*

(+) Yeah! (+)

I have 470k in medical school debt at 6.8% interest. This 0% interest for the past two years has been great. Everyone's talking about "student loan forgiveness. 10k, 50k, will they, won't they?" and I'm sitting here having probably saved close to 50k in capitalized interest.

If I can ride this wave till I'm done with residency then I can just yeet my entire attending paycheck at my loans for a few years and be done with it.

470k is a lot of dollary doos

I don't believe you

For a doctor, that sounds dumb

Can you screenshot your loans? It's not that I dont believe you - I just want to personally see how 470k in loans is divided up

Cokewave posted...

Can you screenshot your loans? It's not that I dont believe you - I just want to personally see how 470k in loans is divided up

Irony posted...

I don't believe you

https://i.imgur.com/ppaLvTN.jpg

Irony posted...

I don't believe you

It's real.

Luckily my loans is only 214K since I lived at home mostly.

I can pay it off in about 1-2 years of attending salary since I still live at home, but apparently I save 50K if I use PSLF.

Med school alone is 60K/year, 4 years = 240K, doesn't include boarding, food and other necessities for living while not having a job during school.

Unsugarized_Foo posted...

For a doctor, that sounds dumb

My base salary as an attending in 1.5 years will probably be 400k/yr with room to earn more picking up more call. After taxes, the net is a bit more modest. Also if you consider I'll be almost 33 at that time, I've lost about 10 years of working on retirement accounts and opportunity cost compared to someone going into the work force after undergrad.

Doctors aren't as well off as they used to be, but I won't have any trouble paying down these loans.

megamanfreakXD posted...

Med school alone is 60K/year, 4 years = 240K, doesn't include boarding, food and other necessities for living while not having a job during school.

Yup. So usually people take out 20k-ish per year for living expenses. Give or take just how frugal of a student you want to live like and cost of living in one's city.

Then add each semester the loan servicers take a couple percent as a service fee (this adds up to several thousands). And we take so many freaking board exams that usually cost about 1k to even take the exam that we pay out of pocket.

Let alone applying for residency programs with all the travel ended up being like 10k in flights and hotels.

BlameAnesthesia posted...

Doctors aren't as well off as they used to be, but I won't have any trouble paying down these loans

And yet the rest of the country think we play golf and shop for rolex watches all day.

This country

obsolete posted...

This country

If profiting off of the hard labor and rigorous studies of rising doctors in this country isn't the American dream, I don't know what is.

BlameAnesthesia posted...

470k

what the fuck