Agree with
@BoardingDoc.
10-15 for FIRE. 15-20 full time average. 20-25 for those with spending issues or those that want a few part time years at the end. 25+ for the true believers in academics.
I started off with exactly $300K in education debt. Paid it all off in 1.5 years while on a preparternship track while even making less money from that job by also working extra moonlighting at another ED on top of my regular job, living frugally like a resident, and putting every extra dime I had towards my loans.
I know some favor the strategy of refinancing and trying to invest money with a higher return instead. That’s okay, but wasn’t for me. I didn’t want non-forgivable debt hanging over my head.
After paying off, it allowed me to accelerate my net worth with simple saving and investing over the next several years because I’d developed good habits. FIRE in 10 years totally achievable even with $300K in initial debt. I think though now I might be doing 15-20 years by choice. Doubt I’ll go bast 20. By no means do I need to do 25+ though because of my initial debt. That’s a spending problem, not a debt or earning problem.
For what it’s worth I eventually gave up the moonlighting, cut back the hours and started enjoying a nice thing or two in life more often.
I know I’m not telling you
@RustedFox anything novel. More so just sharing my two cents with everyone else. I agree that education debt does set you back initially. I don’t think it should to such a degree, but does unfortunately. In my opinion we don’t value education enough in this country as a society. Some education debt at our income levels is by no means insurmountable though.
