Reply to How to minimize monthly interest ($550/month) accruing on student loans?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]^ sorry, just read the rest of your post and saw you refi’d so PSLF is off the table. [b]Why not pursue PSLF when you had the chance?[/b][/quote]

What is the point in discussing this?  What's done is done.

[/quote]

To add to the community knowledge base. OP might have had a perfectly good reason in forgoing PSLF and the rest of us might learn something. [/quote]

OP here - I did IBR for 3.5 years and my monthly payment at 7.5% interest was only covering interest because my HHI was too high to qualify for any reduction in payments.  I paid down maybe 2-3k from the principle in that time.  The only way to refinance was to privatize.  In the past year since I refinanced, I've paid down $25k of the principle paying the same monthly amount.  The uncertainty over the future of PSLF (capping the forgiveness amount, etc.) made me want to pay it off ASAP and not be stuck in a program that seems to be really screwing over borrowers without a clear fix in sight.  Yes it's a more risky loan, but I'll take that risk to have this monkey off my back sooner.  FWIW, it's been a year and I'm still really glad I privatized because this is the first clear path forward I can see to being student loan debt free.

No, I can't go big law now.  We have a special needs child and this job is the most flexible and highest paying option I have at this stage of life.  C'est la vie.[/quote]

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