Student Loan Repayment + Clerkship
Posted: Sat Jul 22, 2023 8:59 am
With student loan repayments starting back up soon, I was wondering what the best payment plan is while on a clerkship salary? What are people considering/ doing?
It depends a little on your overall goals and your finances. If you plan to pay off loans fast and can afford to make full payments on yours, go for it. Personally, I was a PSLF person so only ever made the smallest income-based payments possible.Anonymous User wrote: ↑Sat Jul 22, 2023 8:59 amWith student loan repayments starting back up soon, I was wondering what the best payment plan is while on a clerkship salary? What are people considering/ doing?
That said, I think most people even if not looking for PSLF will get on an income-based plan and pay the minimum while clerking, because your payments will be artificially low (for most people) due to having been in law school the previous tax year, and clerk salaries being what they are. Especially if this new SAVE plan is an option, I’d do that, because it reduces the impact of interest.