Reply to How should I pay off $300k in student loans?

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[quote=Anonymous]Hi OP, we just went through this. We put our loans in income based repayment (REPAYE) and did not pay ahead on our federal loans, just private. As much as we could extra towards the private loans while still having enough income to support buying a house and having kids. Having kids was especially important to us as I am older and the window of fertility was not kind to us if we wanted to pay down the debt first.

Mostly, we paid what we had to but had a significant amount of debt for years. Any bonus went directly toward repayment but around 5 years after graduating, we had one kid in public school and a large salary bump so that we had more income and paid off the private loans.

We kept the federal loans as is for probably 2 more years before looking at our financial situation and determining that we could afford to lose the protections federal loans offered (income based repayment, deferrals, forbearance) and refinanced for a much much lower private loan rate (SoFi). Though we ended up just paying off all the loans entirely about 6 months later as COVID was kind to us, financially.[/quote]

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