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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]Came out of law school in 2007 with $175k in loans, most at 6.8%. Paid as agreed the first few years while maxing out retirement and investing, using my stub bonus for cash savings. Then I got laid off and had to do the contract attorney thing but did not put the loans in forbearance, which was tough but I knew the interest would create a snowball if I took a year (or more) off. Got another, lower-paid job for a couple of years and continued to pay as agreed while building back my emergency fund. Then I got another Biglaw job and paid off each of the >3% loans, one after another, in like 18 months. I didn't trust the income to last and wanted something tangible to show for it if it disappeared again. When DH & I combined finances I paid this off too.[/quote]
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