There are a lot of rumors out there regarding the Public Student Loan Forgiveness (PSLF). I’ve heard anywhere from “99.9% get denied PSLF” all the way to “it won’t exist in a few years.” As a recent medical school graduate with a pretty uncomfortable sum of debt with an interest rate nearing 7%, I knew that I needed to figure out a plan and I needed to figure it out now. Over the past several months, I’ve spent considerable time researching PSLF and other forms of loan repayment. Additionally, I hired a student loan consultant (best decision of my life). Here are some key points that I learned while trying to navigate the scary world of finance.
If you are currently enrolled in, or have been accepted to, a medical school- congratulations! The path to becoming a physician is an incredible journey. However, this path is not without costs (literally!). Medical school is unbelievably costly. According to the American Association of Medical Colleges, the average student loan debt for those graduating medical school in 2018 was nearly $200,000. Below are the top seven tips for minimizing student loan debt!