Student loan payments: Actual numbers

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Re: Student loan payments: Actual numbers

Postby Anonymous User » Mon Nov 30, 2015 4:10 pm

gk101 wrote:
Anonymous User wrote:
gk101 wrote:
Anonymous User wrote:Just got through the refi process (SoFi)

Debt: 211,000 (about 20k from UG, rest from LS)
Rate: 4.5% at 7 years (lowest rate offered)
Payments: $2,900 (rounded)/month
Salary: $160k

Ouch...the debt never felt so real

jesus that is a bold move indeed. good luck man


How is this that much worse than the 10 year? 10 years at 5% (lowest for 10 year I believe) would only be about $600/month less. I guess I just don't see a tangible difference?

its not the 7 vs 10 thing that gives me anxiety. you are (presumably) a first year biglaw associate with no clue about your future in the firm and you just cut off IBR/PAYE options to save a few thousand dollars of interest. risk/reward here doesn't seem justified here. anyways, it's done now so good luck and hope it all works out for you


That is a good point. I did think about it. But I also know I won't be going to work for the Gov. and In-House positions people seem to leave for in year 2-3 and on all pay more than first year associates salary. So while I lost the safety net, I felt as though it was not worth the thousands I will be saving. I also hope it works out!

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Danger Zone
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Re: Student loan payments: Actual numbers

Postby Danger Zone » Mon Nov 30, 2015 5:35 pm

Anonymous User wrote:
gk101 wrote:
Anonymous User wrote:
gk101 wrote:
Anonymous User wrote:Just got through the refi process (SoFi)

Debt: 211,000 (about 20k from UG, rest from LS)
Rate: 4.5% at 7 years (lowest rate offered)
Payments: $2,900 (rounded)/month
Salary: $160k

Ouch...the debt never felt so real

jesus that is a bold move indeed. good luck man


How is this that much worse than the 10 year? 10 years at 5% (lowest for 10 year I believe) would only be about $600/month less. I guess I just don't see a tangible difference?

its not the 7 vs 10 thing that gives me anxiety. you are (presumably) a first year biglaw associate with no clue about your future in the firm and you just cut off IBR/PAYE options to save a few thousand dollars of interest. risk/reward here doesn't seem justified here. anyways, it's done now so good luck and hope it all works out for you


That is a good point. I did think about it. But I also know I won't be going to work for the Gov. and In-House positions people seem to leave for in year 2-3 and on all pay more than first year associates salary. So while I lost the safety net, I felt as though it was not worth the thousands I will be saving. I also hope it works out!

Did you consider the possibility that the decision to stay after the three year mark may not be yours to make?

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Old Gregg
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Re: Student loan payments: Actual numbers

Postby Old Gregg » Mon Nov 30, 2015 7:09 pm

Not a crazy probable possibility assuming the economy doesn't fall out from under us (possible but 08-09 was kind of a once in generation thing).

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gk101
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Re: Student loan payments: Actual numbers

Postby gk101 » Mon Nov 30, 2015 8:51 pm

^ I don't necessarily disagree. If you are smart enough to get biglaw in the first place and stick it out for a year or so, you generally are smart enough to land another well paying gig in a not-horrible economy (even if its not biglaw level pay). However, firings for cause also happens and as a stub year it is impossible to know if you can actually hack it in biglaw even for a year or two. if you get fired, good luck explaining that to other firms

I guess I just don't see a ton of upside in refinancing at such an early stage of his or her career

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JohannDeMann
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Re: Student loan payments: Actual numbers

Postby JohannDeMann » Mon Nov 30, 2015 9:07 pm

there is no upside to that. that was idiotic and should be shitted on. you guys need to stop thinking about saving money in a vacuum of just looking at your loans and interest saved. you can do other things with that money. based on historical S&P500 returns and biglaw turnover rates, very suspect decision. stop shoving your chips all in and play out the decision tree.

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Re: Student loan payments: Actual numbers

Postby krads153 » Mon Nov 30, 2015 9:50 pm

IMO, the best strategy is probably to refi part of your loans and keep part of it in federal. Analysts suggest that the stock market isn't going to return to 2013 rates any time soon, and even under IBR, your payments on 200k loans with a biglaw salary is probably super high anyway. Just diversify your debt.

I don't agree with people who aren't paying anything down on their loans either and allowing the amounts to increase over time - I suspect future administrations will shit all over student borrowers...

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Re: Student loan payments: Actual numbers

Postby barkschool » Mon Nov 30, 2015 10:48 pm

krads153 wrote:IMO, the best strategy is probably to refi part of your loans and keep part of it in federal. Analysts suggest that the stock market isn't going to return to 2013 rates any time soon, and even under IBR, your payments on 200k loans with a biglaw salary is probably super high anyway. Just diversify your debt.

I don't agree with people who aren't paying anything down on their loans either and allowing the amounts to increase over time - I suspect future administrations will shit all over student borrowers...


No political backlash from a group that largely doesn't vote (not sarcasm)

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kay2016
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Re: Student loan payments: Actual numbers

Postby kay2016 » Mon Nov 30, 2015 11:07 pm

Only saving grace is that in the next 10-25 years (forgiveness times) we will be a more likely to vote group... But I still will be very wary in a year or two when I need to start making these calls

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Re: Student loan payments: Actual numbers

Postby JohannDeMann » Tue Dec 01, 2015 10:33 am

krads153 wrote:IMO, the best strategy is probably to refi part of your loans and keep part of it in federal. Analysts suggest that the stock market isn't going to return to 2013 rates any time soon, and even under IBR, your payments on 200k loans with a biglaw salary is probably super high anyway. Just diversify your debt.

I don't agree with people who aren't paying anything down on their loans either and allowing the amounts to increase over time - I suspect future administrations will shit all over student borrowers...


This is just unfounded fear mongering. The political trend has been getting more beneficial towards student borrowers. That trend isn't likely to reverse, and if it does it will be a battle and very slow. Politics moves slow so it usually never reverses course because it usually lags behind public consensus.

The SP500 doesn't have to return to the years of 13-25% gains. It just has to return 7% for a few years. So yes it's unlikely to keep doubling and tripling historical average year returns but it doesn't need to.

Your payments on IBR are based on last years income and tax return which for most big law associates in their first year is less than $200 a month. I paid 0 for my first year and $270 or something per month second year. The big jump comes in year 3.

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Re: Student loan payments: Actual numbers

Postby AVBucks4239 » Tue Dec 01, 2015 11:35 am

krads153 wrote:IMO, the best strategy is probably to refi part of your loans and keep part of it in federal. Analysts suggest that the stock market isn't going to return to 2013 rates any time soon, and even under IBR, your payments on 200k loans with a biglaw salary is probably super high anyway. Just diversify your debt.

I don't agree with people who aren't paying anything down on their loans either and allowing the amounts to increase over time - I suspect future administrations will shit all over student borrowers...

Under REPAYE, the government basically subsidizes half of any unpaid interest. On top of that you get a $2500 student interest deduction. With these in effect your actual interest rate is like 2-3% (or somewhere close).

So it's definitely beneficial to pay as little as possible towards your loans. Take the subsidies and deductions and run.

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Re: Student loan payments: Actual numbers

Postby Anonymous User » Tue Dec 01, 2015 11:56 am

JohannDeMann wrote:there is no upside to that. that was idiotic and should be shitted on. you guys need to stop thinking about saving money in a vacuum of just looking at your loans and interest saved. you can do other things with that money. based on historical S&P500 returns and biglaw turnover rates, very suspect decision. stop shoving your chips all in and play out the decision tree.


Haha this forum is hilarious. I was the dude who did the refi. The biglaw world is a small one once you are in it. When you start at a good firm, moving to another firm after 2-3 years is not uncommon. At the firm I am at - I haven't heard of anyone being "fired" because of poor work product. I have heard of them moving to different firms in town because their work product was not all that great. In any case, It is highly unlikely I ever make little enough to gain any subsidy on my loans (though I haven't fully looked into this PAYE thing?). In any case, the longest repayment plan I was going to do was 10 years with my federal - and yes, I am saving lots of dollars by doing this refi - not just an insignificant amount. This was not a spur of the moment decision - I spoke with many attorneys around the firm including a couple senior associates I was close with over the summer. While this forum is hating hard, it wasn't "idiotic" by any means

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Re: Student loan payments: Actual numbers

Postby JenDarby » Tue Dec 01, 2015 12:07 pm

Also at some point your PAYE payments will become large(r) if you have a good income. Maybe I got "fucked" by working 3L, but I made way less than biglaw money and my PAYE payments started at $550 a month, and were going to go up substantially at my next renewal. I don't pay THAT much more on my refi to try to argue that throwing that amount in savings would be a better financial decision than paying down my loans at a low interest rate.

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Re: Student loan payments: Actual numbers

Postby JohannDeMann » Tue Dec 01, 2015 12:11 pm

You spoke with other attorneys about how to manage your finances?! What an excellent idea that could never go wrong. You don't even know what PAYE is but you know your choice was well researched and the right one? This post tells you everything you need to know about it.

You messed up. This thread is for others who are actually open minded to learning and avoiding exactly what you did. Refi-ing out of debt fear. Assuming you are in California or NYC, your cash flow is going to be basically 0 the first 2 years you are in biglaw.

95k post tax income -36k loan repayment -30k renting -12k groceries and eating out =1k a month for entertainment, savings, vacation. Where are these savings you speak of?

Compared to 95k post tax -2k loan repayment under PAYE rest the same =$4k a month of cash flow.

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Re: Student loan payments: Actual numbers

Postby JohannDeMann » Tue Dec 01, 2015 12:14 pm

JenDarby wrote:Also at some point your PAYE payments will become large(r) if you have a good income. Maybe I got "fucked" by working 3L, but I made way less than biglaw money and my PAYE payments started at $550 a month, and were going to go up substantially at my next renewal. I don't pay THAT much more on my refi to try to argue that throwing that amount in savings would be a better financial decision than paying down my loans at a low interest rate.



The fact that you argue so hard what you did was right but then also say in other threads that you can't even consider govt jobs shows you also messed up. You made a decision that is now dictating future career decisions you are making. It's okay to admit you messed up. Your error is not huge but the goal of this thread is to help other people in the future. You didn't mess up nearly as bad as this anon guy because your debt was under $200k, so there's that.

Also sounds like you were forced to confront your decision a little sooner because of the PAYE payment dilemma. But still, ideally you should have probably waited another year for your career to unfold some.

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JenDarby
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Re: Student loan payments: Actual numbers

Postby JenDarby » Tue Dec 01, 2015 12:16 pm

JohannDeMann wrote:
JenDarby wrote:Also at some point your PAYE payments will become large(r) if you have a good income. Maybe I got "fucked" by working 3L, but I made way less than biglaw money and my PAYE payments started at $550 a month, and were going to go up substantially at my next renewal. I don't pay THAT much more on my refi to try to argue that throwing that amount in savings would be a better financial decision than paying down my loans at a low interest rate.



The fact that you argue so hard what you did was right but then also say in other threads that you can't even consider govt jobs shows you also messed up. You made a decision that is now dictating future career decisions you are making. It's okay to admit you messed up. Your error is not huge but the goal of this thread is to help other people in the future. You didn't mess up nearly as bad as this anon guy because your debt was under $200k, so there's that.

Also sounds like you were forced to confront your decision a little sooner because of the PAYE payment dilemma. But still, ideally you should have probably waited another year for your career to unfold some.

Lol the gov job thing is mainly a joke. I have never applied to or even really considered applying to a Gov job. I love my job and I have great job security.

I am entirely confident in my decision and have zero regrets. You really need to calm down with trying to shove PAYE down everyone's throats. It's a good decision for many, but not the best decision for all.

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Re: Student loan payments: Actual numbers

Postby AVBucks4239 » Tue Dec 01, 2015 12:54 pm

Anonymous User wrote:Haha this forum is hilarious. I was the dude who did the refi. The biglaw world is a small one once you are in it. When you start at a good firm, moving to another firm after 2-3 years is not uncommon. At the firm I am at - I haven't heard of anyone being "fired" because of poor work product. I have heard of them moving to different firms in town because their work product was not all that great. In any case, It is highly unlikely I ever make little enough to gain any subsidy on my loans (though I haven't fully looked into this PAYE thing?). In any case, the longest repayment plan I was going to do was 10 years with my federal - and yes, I am saving lots of dollars by doing this refi - not just an insignificant amount. This was not a spur of the moment decision - I spoke with many attorneys around the firm including a couple senior associates I was close with over the summer. While this forum is hating hard, it wasn't "idiotic" by any means

But see viewtopic.php?f=10&t=257218

Plus it's pretty obvious that you don't know how PAYE works. The money you're theoretically saving in interest is a mathematical straw man used to rationalize what is almost certainly a mathematically poor decision.

What JDM is basically referring to is called the "Doctor's Loophole" (http://whitecoatinvestor.com/the-doctor ... -and-pslf/)--these programs were designed to assist people taking public sector jobs, but they disproportionately benefit high income earners with graduate degrees. You can and should take advantage of that.

Just to illustrate this and play out JDM and my logic (in case those new to the thread are curious for a stupidly long read)...

You said your debt is $211k at 4.5% interest for 7 years. That means you'll pay $247,000 towards your loans in seven years. That's basically $35,000 post-tax income per year, which is at least a third (and probably closer to 38-40%) of your take home pay.

You've presumably refinanced from federal loans at a standard ten year repayment with 6.8(ish)% interest. If you'd have done that you would have paid $294,000 towards your loans. That's $47,000 more than if you refinanced (or $4,700 per year), thus theoretically saving you $47,000. But this plan had benefits...your payment would have been lower, freeing up cash flow (about $500 per month) that you could have done anything with. And most importantly you would have had the security net that federal loans provide.

But there's a third option. You could have paid as little on your loans as possible (basically zero in your stub year), maxed all available retirement accounts, and managed the student loan balance by enrolling in PAYE and taking advantage of deductions and subsidies.

Your savings could go something like this:

-Max 401k ($18,000)
-Max Roth IRA ($5,500; not tax deductible but a great investment vehicle);
-Max HSA (around $3,000 or $6,000 if you have a spouse);
-Contribute to 529 plans (basically save for kid's school and let the market compound over time).

In your stub year you would have a payment of close to zero and would increase cash flow by $3,000 per month (Ally account? Money market account? Do what you want).

After stub year, and assuming you get your AGI down to $135,000 (I bet you could get it lower), your payment would be around $900/month. Your loan accrues $14,000 in interest per year, you pay $11,000, and government subsidizes remaining half of unpaid interest. So your loan balance is going up about $1,500 per year while you sock away $23,500 in retirement accounts, $3,250 in HSA, and maybe some in 529s. And on top of that, you've increase cash flow by $2,000 per month. Let's assume you are conservative so you just throw half of that in an Ally account and spend the rest (so $12,000 per year saved).

By the end of 7 years, assuming 7% returns in all your accounts (minus the Ally 1% savings account), you have

-Paid $75,600 towards your loans
-Loan balance has increased to $221,000
-$195,000 in your 401k
-$60,000 in your Roth IRA
-$35,000 in your HSA
-$91,000 in Ally account ($1,500 x 12 for stub year and $12,000/year in other years + 1% interest).

So your net worth after all this $381,000. And this is a conservative estimate because I bet you could get more creative with AGI and pay even less towards your loans and free up even more cash flow. More importantly, you're never going to get these contribution years back. You should be maxing them while you can and letting compound interest work for you.

I get that you could theoretically still save for retirement and pay down your loans at the same time, but that's walking a tightrope. PAYE provides a great opportunity for you to start building your net worth while your student loans don't get out of control.

The worst case scenario is that you start making too much money and thus have to pay back your loans. But by that point you'd have built up a substantial net worth and it wouldn't be an issue.

And I haven't even got to the security that federal loans provide. You could be laid off, you could get sick, something might happen...all of that is taken care of if you're on federal loans.

JenDarby likely has a solid counterargument to all the nonsense I just wrote. But at worst you should probably do PAYE in your stub year, save up like $50,000, let the gov't subsidize the growing interest (thus reducing your interest rate on federal loans in half), and then have at it if you want to pay back your loans. Refinancing out the gate is just generally not wise in what I'd say is 90% of circumstances.

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gk101
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Re: Student loan payments: Actual numbers

Postby gk101 » Tue Dec 01, 2015 12:58 pm

I didn't do PAYE and I am a year away from paying off 160k worth of student loans. I also have a decent amount in savings and invested in the market so it's not like I will be left empty handed if i wanted to leave my job tomorrow. Given my risk tolerance, I would have hated being on PAYE and have that huge sum hanging over my head for eternity.

The 200k+ refi as a stub year associate just struck me as taking on a lot of risk for saving a few thousand dollars (assuming he could always refinance after a year or two)

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Re: Student loan payments: Actual numbers

Postby AVBucks4239 » Tue Dec 01, 2015 1:12 pm

gk101 wrote:I didn't do PAYE and I am a year away from paying off 160k worth of student loans. I also have a decent amount in savings and invested in the market so it's not like I will be left empty handed if i wanted to leave my job tomorrow. Given my risk tolerance, I would have hated being on PAYE and have that huge sum hanging over my head for eternity.

The 200k+ refi as a stub year associate just struck me as taking on a lot of risk for saving a few thousand dollars (assuming he could always refinance after a year or two)

Ya, don't get me wrong, paying off loans can make sense in a lot of circumstances. Scroll far enough back in my post history and I was all for paying off my $145,000 in loans (and I only make like $50k income). There's definitely some logical, financial, and emotional reasons to pay off debt.

That anonymous poster, though, seemed to have taken on an enormous amount of risk by not only aggressively paying off his loans but refinancing. The point of my post was just to illustrate the alternative.

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Re: Student loan payments: Actual numbers

Postby Anonymous User » Tue Dec 01, 2015 1:15 pm

JohannDeMann wrote:You spoke with other attorneys about how to manage your finances?! What an excellent idea that could never go wrong. You don't even know what PAYE is but you know your choice was well researched and the right one? This post tells you everything you need to know about it.

You messed up. This thread is for others who are actually open minded to learning and avoiding exactly what you did. Refi-ing out of debt fear. Assuming you are in California or NYC, your cash flow is going to be basically 0 the first 2 years you are in biglaw.

95k post tax income -36k loan repayment -30k renting -12k groceries and eating out =1k a month for entertainment, savings, vacation. Where are these savings you speak of?

Compared to 95k post tax -2k loan repayment under PAYE rest the same =$4k a month of cash flow.


I am not in CA or NY. Take home is significantly more than 95k (just under 110,000). Wife brings home a good chunk of change. Already have a mortgage on a home. And after payments on mortgage/utilities/bills/loans still have about 6k a month to "save"/use for fun/enjoy life. Like I said, I made an informed decision. I am pretty new to this site - but definitely getting the sense people are overly pessimistic. I worked before law school as a banker, had some money saved up (took loans so I could have a down pay on a house/rainy day fund) and my wife makes good money. I didn't research PAYE because when I did a cursory look it appeared as though I would not qualify. Even if I was single, I would have over 3k a month after mortgage and loans left in the bank - thats more than many people make pre-tax. This is not a struggle.

EDIT: AVBucks - that was a good post. With my wife's income it probably changes things (or maybe it doesn't and it is only based on my income?). Also, like others have said, there is some personal value in getting to debt free. I agree there is some risk to it, but I would like to be debt free in 7 years. At that point I may still be in Biglaw, getting ready to leave, trying to stay or on to a different job. Between a mortgage, student loan interest, and other expenses, after reducing my AGI, my tax burden will be relatively low and honestly, there is plenty to spare to pay off these loans quickly. I absolutely hate the idea of my student loans actually growing and hanging over my head - I don't know how that wouldn't bother someone in at least some way.

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Re: Student loan payments: Actual numbers

Postby JohannDeMann » Tue Dec 01, 2015 1:35 pm

gk101 wrote:I didn't do PAYE and I am a year away from paying off 160k worth of student loans. I also have a decent amount in savings and invested in the market so it's not like I will be left empty handed if i wanted to leave my job tomorrow. Given my risk tolerance, I would have hated being on PAYE and have that huge sum hanging over my head for eternity.

The 200k+ refi as a stub year associate just struck me as taking on a lot of risk for saving a few thousand dollars (assuming he could always refinance after a year or two)



For the 100th time noone is saying you are fucked if you refi. We are saying you are mathematically better off locking in PAYE for the first year and building cash/investing in the market. Had you done PAYE and invested in SP500/vehicales AVBucks mentioned you would have a higher net worth than you do now. That's a fact. You aren't an idiot like the 200k guy. But you probably left a few thousand on the table. Not a big deal though, it made you sleep easier given your risk tolerance (though low risk tolerance should actually lead to PAYE if one is being logical), and you're doing fine still.

The short game solution for most should be to refinance for those in biglaw or inhouse over 6 figures. 160k debt load is also very different from 211k. That's 2 years of 30% post tax income.

Are you 200k in debt or more? 100% PAYE in stub year and probably year after.
Are you 150k-200k? 90% PAYE for stub year.
100k or less in debt? Maybe stub year PAYE but maybe lock in the refi rate. Not going to really matter here.

The consequences are exponential. Making the wrong decision with 100k in debt is probably less than a $5,000 mistake. Making the wrong decision with $200k in debt is a 6 figure mishap.

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Re: Student loan payments: Actual numbers

Postby JohannDeMann » Tue Dec 01, 2015 1:39 pm

Anonymous User wrote:
JohannDeMann wrote:You spoke with other attorneys about how to manage your finances?! What an excellent idea that could never go wrong. You don't even know what PAYE is but you know your choice was well researched and the right one? This post tells you everything you need to know about it.

You messed up. This thread is for others who are actually open minded to learning and avoiding exactly what you did. Refi-ing out of debt fear. Assuming you are in California or NYC, your cash flow is going to be basically 0 the first 2 years you are in biglaw.

95k post tax income -36k loan repayment -30k renting -12k groceries and eating out =1k a month for entertainment, savings, vacation. Where are these savings you speak of?

Compared to 95k post tax -2k loan repayment under PAYE rest the same =$4k a month of cash flow.


I am not in CA or NY. Take home is significantly more than 95k (just under 110,000). Wife brings home a good chunk of change. Already have a mortgage on a home. And after payments on mortgage/utilities/bills/loans still have about 6k a month to "save"/use for fun/enjoy life. Like I said, I made an informed decision. I am pretty new to this site - but definitely getting the sense people are overly pessimistic. I worked before law school as a banker, had some money saved up (took loans so I could have a down pay on a house/rainy day fund) and my wife makes good money. I didn't research PAYE because when I did a cursory look it appeared as though I would not qualify. Even if I was single, I would have over 3k a month after mortgage and loans left in the bank - thats more than many people make pre-tax. This is not a struggle.

EDIT: AVBucks - that was a good post. With my wife's income it probably changes things (or maybe it doesn't and it is only based on my income?). Also, like others have said, there is some personal value in getting to debt free. I agree there is some risk to it, but I would like to be debt free in 7 years. At that point I may still be in Biglaw, getting ready to leave, trying to stay or on to a different job. Between a mortgage, student loan interest, and other expenses, after reducing my AGI, my tax burden will be relatively low and honestly, there is plenty to spare to pay off these loans quickly. I absolutely hate the idea of my student loans actually growing and hanging over my head - I don't know how that wouldn't bother someone in at least some way.


Sounds like you are in Texas. Hope you aren't relying on the oil and gas field. Based on your wife's income, this decision was probably not nearly as catastrophic as you originally set out. Still a risk that didn't need to be taken and one that should not be taken by future posters.

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Re: Student loan payments: Actual numbers

Postby AVBucks4239 » Tue Dec 01, 2015 2:22 pm

JohannDeMann wrote:Are you 200k in debt or more? 100% PAYE in stub year and probably year after.
Are you 150k-200k? 90% PAYE for stub year.
100k or less in debt? Maybe stub year PAYE but maybe lock in the refi rate. Not going to really matter here.

This is pretty accurate and a great starting point for most people.

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JenDarby
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Re: Student loan payments: Actual numbers

Postby JenDarby » Tue Dec 01, 2015 2:27 pm

It's unfortunate we don't have any solid data points to go off of for our group since we are all being pretty speculative in varying manners. I do think it will be interesting in around 7-9 years when there are a handful of recent grads who refi'd and are debt free as well as people still riding PAYE til they die.

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Re: Student loan payments: Actual numbers

Postby AVBucks4239 » Tue Dec 01, 2015 2:35 pm

One other thing about PAYE: I plan to go solo within a year or two. When you are self-employed, so much is deductible from AGI that I bet a good amount that you can get your payments comically low.

Say you make $100k income, you can deduct...

401k: $18,000 plus 25% of net income (call it $13,000 in my scenario, but can be up to $53,000 total);
Traditional IRA: $5,500
Home Office Deduction: obviously varies but mine would be about $1800
Automobile Expenses: $3,000
CLE Deductions: $1,000
Deduct half of self-employment tax
Internet and Phone: $1,000
Health Insurance: $4,000
HSA: $6,200

There's more but I'm too lazy to look them up, but that brings AGI down to about $45,000, which means student loan payments between $175-200 (which then contribute to student loan interest deduction).

Just something to think about if you think you might have an itch to go solo.
Last edited by AVBucks4239 on Tue Dec 01, 2015 3:41 pm, edited 1 time in total.

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AVBucks4239
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Re: Student loan payments: Actual numbers

Postby AVBucks4239 » Tue Dec 01, 2015 2:39 pm

JenDarby wrote:It's unfortunate we don't have any solid data points to go off of for our group since we are all being pretty speculative in varying manners. I do think it will be interesting in around 7-9 years when there are a handful of recent grads who refi'd and are debt free as well as people still riding PAYE til they die.

Ya, I hope this thread lasts for like a decade.




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