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Reply to "If you took out six figure student loans for a professional degree, what was your strategy "
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[quote=Anonymous]I worked while my husband went to law school and I paid all of our expenses such that he only borrowed what he needed for tuition. He also went to a school that gave him scholarship money (rather than the highest ranked school that accepted him) so that we only had to borrow the federal loan limit which at the time was 18.5k a year at 2.8%. After three years of on-time payments that dropped to 1.8% so we are not accelerating at all. His two summer internships he earned about $50k which we put aside to buy a house. When he graduated in 2007 he was making $160k/year and we bought a $450k townhouse with 10% down (we later refinanced.) Within a year I had our first and became a SAHM. About six years later we bought a (modest, not crazy) SFH where still live, and we rent out the townhouse. His loans will be done in 2027 (20 years) and they really haven’t affected us much at all. [/quote]
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