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Is PAYE Appropriate for new Med School Graduate?

Total Posts: 1

Joined 2017-04-04

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My daughter starts residency this summer and I’m helping her navigate the student loan repayment landscape. Everything we have come across suggests that PAYE will make the most sense. Her first loan was after 2007 and her last one was this year.

She will be in residency for 4-5 years and is has a current loan debt of about $345K. The standard repayment is a non-starter.

We’re looking for a budgetary amount right now as she needs to rent an apartment in DC, which is very expensive. Although everyone we read points to PAYE, I’m looking for advice on potential pitfalls.

Thanks in advance.