quote:
Thats actually the number I gave when asked the question. I'm attempting to cash flow my fiance' in Med school right now. At my current income its possible, at $60k our lifestyle wouldn't change but her(our) loan burden would increase.

Golfer, whats your "get out of debt" plan for that $145k? I'll taking on about six figures in student loans when the fiance' (wife by then) finishes skrool, and her residency income is going 100% toward it till its gone...

As someone with massive six figure debt with a decently sized income, my plan is to IBR it out to forgiveness and pay the tax. It looks like I could make more money saving the difference (and investing) and paying the tax than trying to pay it down, which would be almost impossible to do in that time frame as it is.

Oh, and my answer would have been $20,000, since that is what you live off of while in school.

This post was edited on 10/8/13 at 4:40 pm

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Posted by Cold Cous Cous

Bucktown, La.

Member since Oct 2003

15051 posts

Posted on 10/8/13 at 5:09 pm to Teddy Ruxpin

I was going to say $1,600 a month, for me alone. Then I realized that every day I see dudes on the street who I'm pretty sure have an annual income of $0.00, and they somehow manage to be alive. So I guess that's my answer.

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Posted by Golfer

Member since Nov 2005

75052 posts

Posted on 10/8/13 at 5:46 pm to Teddy Ruxpin

quote:
As someone with massive six figure debt with a decently sized income, my plan is to IBR it out to forgiveness and pay the tax. It looks like I could make more money saving the difference (and investing) and paying the tax than trying to pay it down, which would be almost impossible to do in that time frame as it is.

Can you expand on this? So even if our take home is north of $100k, IBR is still viable?

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