STOP THROWING AWAY MONEY on STUDENT LOANS

PSLF is very finicky with qualifying individuals for loan forgiveness. One of the criteria is making "120 qualifying payments" over a 10 year span.

For those trying to pay down their school loans quickly, understand that you have to pay down your interest first before principal balance can be brought down. Unfortunately, you cannot just simply request your lump sum be applied to the principal balance (which I have previously been told).

Some of the reasons why I decided NOT to continue with PSLF after residency.

Link to great blog outlining some of the most common mistakes people make with PSLF that disqualify them from loan forgiveness after 10 years.

Keep in Touch!

[drjennale]

I’m curious - how much Student Loan Debt do you carry?

[homeofjoy]

Love your videos i learned so muvh as a mom and wanting to go back to med school👍😊 looking forward for more videos👍

[MHSMagicLuver]

I was glad they stopped interest. I just graduated PA school and have government loans as well. I was lucky enough that my grandparents were willing and able to pay for my tuition (about 85k) so I just had to take out loans for living expenses. I have 53, 446.91 currently (including interest). Mine were also 6%. I just pass my boards and hope to start working by the end of this year. I still have 11k left in my bank account of loan money that I took out so I could afford to live until I get a job so when I get my first paycheck, I may go ahead and just give back of that whatever is left (plus what I’m not spending for living expenses from my paycheck). My goal is to pay off all of my student loans by the end of 2021. I just hate being in debt and want it gone as quick as it can be. Since I have no job, I Havnt started paying yet but also.. I won’t need to start paying until feb 2021 I believe (6 months after graduation).

Good video though for anyone with student loans whether it’s the medical field or not.

[ReclusiveMountainMan]

Great topic. Graduate school debt sucks.

[jillmariep]

Morbid point, but important. If you paid down your loans today and died tomorrow, your family would have spent all of that money on student loans that would have been discharged upon death. Not something that anyone wants to think about, but it is one of the big benefits of keeping your loans federal instead of privatizing.

[WoodusOBGYN]

👋🏾! New sub here. Such a confusing topic. Thank you for being transparent & shedding some light on the topic. Looking forward to the follow up for those paying outside of the loan forgiveness programs. The insight on loan consolidation was helpful. Thank you! 😊

[drkriseliza]

I am so thankful to be Australian!! I'm paying off my loan slowly (it comes out of my taxes), it's so different to the US !

[teaismyatp]

Did you figure out the best way to pay for the loans and when the government pays for half of the unpaid interest? Thanks for these videos, I'm about to graduate med school and it has been helpful. :)

[hiketoheal]

Dr. Le, Thank you so much for making this video. Your vids are helpful to medical students like me who have no idea about this financial jargons in terms of their loans :/ Really really appreciate it.

[rzvpbdy]

Did u consider working full time (240K salary) for just 2yrs and living off of your husband's salary so your salary goes into your student loans? I know working full time is not your desire, but whats about just doing it for 2yrs?

[jeskawithakai]

Do you have an advice for someone wanting to begin med school around the age of 30-31?

[hey]

Thank you Jenny....I thinking of going to med school and you've just helped me alot with this video, alot to consider

[matchmadeinmedicine]

Not looking forward to having to pay off loans...Also, no one tells us how to properly manage our payments as medical students, thank you for teaching us😄

[michaelvarney.]

Get put on forbearance. You can then target the sub loans individually.
Say you have $100k in loans over 20 sub loans, you can then hit the higher interest rate loans first and your payment is not spread so thinly. You end up saving money in the long run.

I have 27k in student loans so I’m considering going active duty in the Air Force to qualify for the loan forgiveness program but I don’t want to serve for 10 years

[nusratuddin]

will your part-time doctor job count towards pslf?

[subjectsabouthealth]

Thank you for all these information. However, it 's so disappointing that medical field costs a lot of money !!!

[caressungria]

I did not know you can consolidate student loan.

[zeynepcakir]

Ugh, my loans make me want to cry so I avoid thinking about them and just make the stupid minimum payments :(

[IleneDominguez]

Hi Jenny! How do you qualify for the PAYE plan to get the government to pay half your interest? And is there a time or $ limit that the government will cover it? Also, do you know how often the interest compounds into the principal of the loan?