White Coat Investor Podcast

MtoM #45 - Pediatrician Pays off $185K in 3.5 years

Dec 20, 2021
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ANECDOTE

Paid Off $185K Student Loans Fast

  • Mitch Peterson and his wife paid off $185,000 of student loans in about three and a half years after residency.
  • They managed this feat despite modest starting incomes by living frugally and receiving some family financial support.
ANECDOTE

Loan Refinance Decision With Variable Rate

  • Mitch consolidated and refinanced his loans to a variable rate in 2017 to secure the lowest interest.
  • Despite a rate increase shortly afterwards, the rates dropped over the next years, validating his decision.
ANECDOTE

Family Support Eased Frugality

  • Mitch credited their ability to pay off loans rapidly partly to the financial support and generosity of their families.
  • This support reduced lifestyle pressure and made frugal living easier during repayment.
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