Additionally, she had consolidated all her loans at the end of residency, which reset the clock for PSLF and made her lose 4 years of qualifying payments.I’m still astounded no one at the servicing company was competent enough in their understanding of student loan rules to yell, “STOP, consolidating is a VERY BAD IDEA.” My fiancée studied for thousands of hours to know medicine, not navigate a maze of federal rules and regulations.In many cases, a resident married to an attending with low or no debt should consider refinancing to obtain lower interest costs.Even so, most residents are either single or married to someone who also has debt or a relatively modest income.All you need to do is reduce your Adjusted Gross Income (AGI).The most common way to do this is to save in a pre-tax retirement plan like a 403b. In most cases, the hospitals will not match any of your contributions.In this scenario, REPAYE covers ,000 of interest.
The government takes the ,000 figure, subtracts ,000, and divides the remainder of ,000 by 2.
Essentially, you want a very good paper trail so that what happened to us won’t happen to you.
If you wait to certify your employment until the end of residency or fellowship, you could have a hard time proving everything to the government.
By the time we sent the form in, she was about to finish her final year of training. For some of her loans, the servicer only had records of 2.5 years’ worth of monthly payments under the IBR plan.
For others, the servicer only showed 1 month of payment history.