Loan Strategy
Compare repayment paths for your $200,000 in student loans.
Recommended
PSLF
Public Service Loan Forgiveness — 10 years of qualifying payments at a non-profit employer.
Monthly Payment$437
Total Paid$52,440
Amount Forgiven$359,766
Years to Complete10
Aggressive Payoff
Pay minimum during residency, then throw 25% of attending salary at loans.
Monthly Payment$9,375
Total Paid$289,726
Years to Complete6
Standard Repayment
10-year fixed repayment plan. Higher monthly payments, no forgiveness.
Monthly Payment$2,374
Total Paid$284,880
Years to Complete10
Adjust Your Assumptions
Action Items
1
Consolidate federal loans into a Direct Consolidation Loan (if not already done)
2
Enroll in SAVE (or PAYE) income-driven repayment plan
3
Submit PSLF Employment Certification Form to MOHELA
4
Set up auto-pay for 0.25% interest rate reduction
5
Mark calendar to re-certify income annually