White Coat Investor Podcast MtoM #103 - Anesthesiologist Pays Off $369,000 in Four Years
Jan 30, 2023
An anesthesiologist pays off $369,000 student loan debt in 4 years. They discuss strategies for paying off student loans, including refinancing. The impact of family and homeownership on loan repayment. Managing finances as a doctor and advice on handling windfalls.
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Four-Year Payoff Story
- Evan paid off $369,000 in student loans in four years after planning for five years.
- He celebrated completing the goal earlier than expected due to a housing windfall.
Loan Balance Ballooned in Training
- Evan entered residency with about $240,000 in medical-school loans that grew to $369,000 by graduation.
- High interest (6.75%) during deferment caused the balance to balloon significantly.
Pick Your Repayment Track Early
- Choose your repayment track early: PSLF vs. pay-off in private practice.
- Picking a clear path early prevents paying minimal principal and letting interest balloon.