Reply to If you took out six figure student loans for a professional degree, what was your strategy

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[quote=Anonymous]My husband took out 250k to pay for law school at various rates 6% 8% etc. His parents are wealthy so he had (still has) little concept of money. His law school was not one that was amazing so no pedigree upon graduation. Decided to go public interest for loan forgiveness bc top firms would not give him a second look. Did that for a while but not long enough to pay off the loan. I happened to be an excellent saver, had no student loans and bought a home in NE DC before it was “on the rise”. Sold for a profit which we bought our suburban house with; roped in a low mortgage rate then after a few years refinanced and rolled the loan into our mortgage payment, paying off a little more than 1/3 of the loan as this was a lower finance rate compared to initial borrowed loans. Since the public interest job, he jumped to a couple of small firms and now does something in the related field. HHI around 40Ok. We still have 100k to pay back (almost 8 years later). We will plop down basically all of our savings to do this. Thankful for the COVID pause that helped us save to get the yokes off our neck. Borrowed money does not see real until you have to pay it off particularly for rich kids who were handed everything (except payment for law school!) [/quote]

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