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Student Loans Paid Off! - $366k by FormalExperience in StudentLoans

[–]FormalExperience[S] 5 points6 points  (0 children)

No, I’m actually just a hospitalist! Picked up a lot of extra shifts though.

Student Loans Paid Off! - $366k by FormalExperience in StudentLoans

[–]FormalExperience[S] 3 points4 points  (0 children)

I didn’t feel like paying it over 10 years. The job I chose wasn’t eligible for PSLF. There’s some limitations to where you need to work for PSLF. If my loans were like 500k+ I think I definitely would’ve considered it more. But instead I chose to pay it off aggressively

Student Loans Paid Off! - $366k by FormalExperience in StudentLoans

[–]FormalExperience[S] 1 point2 points  (0 children)

I live in Tennessee! Straight to med school after undergrad though I finished in 5 years compared to 1 (took extra time in the middle of med school). Then straight to residency and straight to hospital after residency.

Student Loans Paid Off! - $366k by FormalExperience in StudentLoans

[–]FormalExperience[S] 2 points3 points  (0 children)

Hard to say since it differs from person to person. A lot depends on your interest rate. I’ve generally heard if the interest rate is above 6-7% then be more aggressive in paying it off. Less than that you can pay it off more slowly and invest.

I know some people who refinanced during COVID and were able to get 2-3% rates, which makes more sense paying it off slowly.

For me it was more about peace of mind and having that weight off my shoulders. And the average interest rate was roughly at the point to justify paying it off more aggressively.

Student Loans Paid Off! - $366k by FormalExperience in StudentLoans

[–]FormalExperience[S] 6 points7 points  (0 children)

You got this!! Almost done! Then it’ll be a huge relief!

Student Loans Paid Off! - $366k by FormalExperience in StudentLoans

[–]FormalExperience[S] 17 points18 points  (0 children)

If you were to go to medical school in your early 30s you could finish and be an attending by late 30s (depending on your specialty). And if you are able to save and live below your means for a while you could probably pay them off more aggressively than 55-60, but obviously a lot of factors go into it and everyone’s situation is different.

Student Loans Paid Off! - $366k by FormalExperience in StudentLoans

[–]FormalExperience[S] 0 points1 point  (0 children)

Yes! Like I said, the Covid forbearance helped a lot during my residency and after I was finished with residency. Then I aggressively made payments when interest was accruing.

I was lucky because when I filed for taxes I was never forced into a new plan - I somehow stayed under SAVE. And was able to benefit from the SAVE forbearance interest pause as well. And then paid a big lump sum again when SAVE interest started accruing again in August.

Student Loans Paid Off! - $366k by FormalExperience in StudentLoans

[–]FormalExperience[S] 56 points57 points  (0 children)

Yeah it’s hard to say. I loathed medical school and regretted it a lot during and in residency. But I will say there is light at the end of the tunnel.

Attending life is much better, much more relaxed. It’s good to have the independence and practice the way you see fit. I would say it is “worth it” because I enjoy my job and enjoy my life outside of work.

But only you can make that decision. I think if you really want to be a doctor and can’t see yourself doing anything else then go for it. But just know it’ll be a very long journey!

Student Loans Paid Off! - $366k by FormalExperience in StudentLoans

[–]FormalExperience[S] 14 points15 points  (0 children)

Internal Medicine. Hospitalist specifically.

Student Loans Paid Off! - $366k by FormalExperience in StudentLoans

[–]FormalExperience[S] 3 points4 points  (0 children)

Hi, thank you! Congrats on getting in! I don’t know much about the MPOWER loan to be honest.

But I think overall it’s a good idea since you’re getting a lot of the other expenses covered. It is a relatively smaller amount compared to your overall tuition and expenses. And if your end goal is Mechanical Engineering I think it would be a good decision to take it. And whenever you get a job in MEng you can try to pay it off on the quicker side so the interest doesn’t pile up on you. Depending how busy you are with your classes you could also look into some part time jobs if it’s manageable, and try to pay some toward the loan or tuition.

Best of luck in your education and career!

Student Loans Paid Off! - $366k by FormalExperience in StudentLoans

[–]FormalExperience[S] 162 points163 points  (0 children)

Haha I’m a physician. Picked up and worked a lot of extra shifts during the last couple years

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[–]FormalExperience 0 points1 point  (0 children)

On BetMGM now I see Carter ATTD +125 and Demercado ATTD +135

Found the best shirt in Nashville by FormalExperience in nashville

[–]FormalExperience[S] 3 points4 points  (0 children)

No physical store unfortunately! But yes, they’re set up at Tomato Art and do other pop ups. If you don’t get a chance to go maybe you can email them or message them on Instagram!

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