Thank you sincerely for all your great advice Heather!

I’m grateful for the generosity of the PSLF forgiveness. I’m not yet convinced the offer is enough however to keep me in the public sector. I’ve worked in public service (representing abused children) for almost ten years already without the incentive, so obviously money is not my primary motivating factor. But after learning of the PSLF program and in the process of consolidating with direct loans I began to wonder if the better deal (from a strictly financial perspective) is still with the private sector—even with my considerable (82K) student loan debt. The only repayment plan I qualify for is the IBR with a considerably higher monthly payment than that with the standard, extended, etc. plans. I could start at a law firm tomorrow earning 50% more annually and 100% more by year ten and exponentially more thereafter. In looking at the cost in total paid after 20 years on the standard (lower monthly) plans compared to the savings from the PSLF program - and factoring in the forgone income for ten years - I started to feel incentivized to leave the public sector. With the higher monthly with the qualifying plan I’ll still be paying substantially most of my debt. I wonder if I could pay it off faster - even if at a higher total amount - if I left. Am I missing something?

I know the PSLF was intended to relieve not compete. But still I’m not all that jazzed about it honestly.

Thank you!

I think you are considering the right factors and I agree that PSLF does more to make it possible to choose public service in spite of student debt than it does to make public service as financially rewarding as private sector work.