v5junior wrote:[Johann, prolific hater of all things big law]: Dude, totally plan as if you're going to leave biglaw after 1 year/not be able to find a job to service that amount of debt. Just do wait for the PAYE bomb in 25 years, because I'd rather have no savings by the time I'm 50 (or risk having all of my savings wiped out unless this do-nothing Congress passes a law to eliminate the current tax bomb) than work in big law!
[people who think they will be able to tolerate biglaw/make enough money to pay off 250k loans over their life]: DUDE if you do PAYE you'll NEVER BE ABLE TO PAY OFF YOUR LOANS!!!! [ignoring that this is the whole premise of Johann's strategy]. WORST STRATEGY EVER.
Oh, look, another argument that's going to go in circles b/c people have different preferences, surprise!!!!! I wonder if there is some generalizable framework for determining what to consider on a case-by-case basis...
This is correct. But the reason I say to use my strategy is because you are paying maybe $10k of insurance that does not fuck for you life if you end up leaving big law to work for the federal government or be a professor or nonprofit PSLF. You have the money and have'nt wasted it. It's a basically wait and see insurance policy to see if you like biglaw where you ONLY pay the insurance if you end up liking biglaw and probably ridiing it out for many years and therefore 10k is a drop in the bucket to your 10 year earnings in biglaw. You can say what you want but there is absolutely no reason to refinance until you've worked in biglaw for at least a year unless you are really worried about paying less than 1% of your 10 year earnings not to fuck your career.