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[quote=Anonymous][quote=Anonymous]We owe more than this and we own a home. DH and I originally owed $315,000 together. That was about 9 years ago. We started out with DH only having a job for a year, making about $45,000. I followed him to a new city, and it took me a year to find a paying job. DH did get $50,000 in loan repayment fom the first job. Over the next 9 years we paid off about $75,000 of his loan and he owes about 30,000 now. I still owe 142,000, but I'm in no rush to pay it off since I'm in an income based federal loan repayment program. We make about $200,000 now and own a $650,000 home. We purchased the home 2.5 years ago, and we didn't have any problem qualifying for a mortgage. [b]Our student loan payments are about 1,300.00 per month[/b].[b] In six years, we will have completed our 10 years of public service in the program and the federal government will pick up the tab on the rest ($100,000 collectively). [/b] You didn't say how long you intend on paying the loans back. We're glad we didn't wait until they were paid off to buy as we're getting equity in our home now. Also, I wouldn't be scared off from total debt vs starting pay. People's salaries generally go up over time. We just deferred payment in the really lean years. If you like public sector work, the pay and hours are great and you can't beat the income-based loan repayment. We have young children now, and working 40 hours a week has made our family life much easier. Good luck![/quote] I think you are a troll. BS on this post. I typed the numbers into an "income-based repayment calculator" and you wouldn't qualify for IBR or would barely qualify. Unless your income DROPS dramatically -- you will end up paying off your loans yourself. http://www.ibrinfo.org/calculator.php[/quote]
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