White Coat Investor Podcast MtoM #61 - Anesthesiologist Gets PSLF and Becomes a Millionaire
Apr 11, 2022
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Loan Burden at Residency Start
- John started residency with $180,000 in federal student loans at 6.8% interest.
- He paid down $40,000 before PSLF forgiveness.
PSLF Denial Struggles and Victory
- John faced multiple incorrect PSLF rejections, jumping through hoops like resubmitting scanned forms and correcting employment details.
- After filing a complaint with the Consumer Financial Protection Bureau, his loans were finally forgiven in August 2021.
Investing Alongside PSLF
- John maximized retirement savings using 403(b), 457(b), and a mega backdoor Roth after becoming an attending.
- He strategically combined PSLF eligibility with aggressive investing to build wealth.