Reply to Daughter married a doctor, he’s pressuring her to pay off his student debt

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[quote=Anonymous][quote=Anonymous]Doctor here. Is he still in training or does he have an attending level job yet?

How long will he be in training total after ned school?

Asking because if he winds up working in public service including at an academic hospital and if that plus his training period combined equal ten years it could all be forgiven through the PSLF program. Years in training count towards PSLF. So if he trains for even three years, which is they bare minimum (many train for 5-7 years), and works as a professor for another 3-7, then he will qualify for PSLF and paying it off of their current earnings would be the wrong decision.[/quote]

The PSLF thing makes so much sense for most doctors, aside from a few very lucrative specialties that can make huge money immediately once training is done. Residency + post residency training gets you to 
 get you to at least 7 years of income-based repayments (on the low end!). Under the new SAVE plan, those payment will be very minimal during 4 years of residency.

Instead of jumping to private practice, making the absolute minimum income-based repayment and continuing to work as a W2 employee at a nonprofit public or teaching hospital for another 1-3 years will likely lead to a better net worth calculation if it ensure you get all your undergrad + med school loans wiped away (plus accumulated interest!). The numbers getting forgiven right now are huge.

https://www.whitecoatinvestor.com/public-service-loan-forgiveness/
https://www.facebook.com/groups/1665707240391923/[/quote]

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