- Joined
- Oct 9, 2016
- Messages
- 2
- Reaction score
- 0
As a financial planner that specializes in assisting physicians and dentists, I must say that REPAYE is really good, in the right situation.....
If you are single or married to somebody that is not a high income earner and have a decent amount of loans, you should absolutely look at changing to REPAYE. Unlike other income driven options, there is a government subsidy for "unpaid interest" with REPAYE. The monthly payment is calculated off of 10% of HOUSEHOLD income, unlike IBR or PAYE where you can file your taxes separately, so it will not make sense all of the time. The higher the loan amount and the lower your household income, the bigger the subsidy will be.
I lecture to a lot of residency and fellowship programs about disability insurance, student loans, roth ira's and home ownership, and can say that very few physicians know about and are taking advantage of this option.
If you would like to bounce your situation off of me to see if REPAYE may make sense, please feel free to send me an email.
If you are single or married to somebody that is not a high income earner and have a decent amount of loans, you should absolutely look at changing to REPAYE. Unlike other income driven options, there is a government subsidy for "unpaid interest" with REPAYE. The monthly payment is calculated off of 10% of HOUSEHOLD income, unlike IBR or PAYE where you can file your taxes separately, so it will not make sense all of the time. The higher the loan amount and the lower your household income, the bigger the subsidy will be.
I lecture to a lot of residency and fellowship programs about disability insurance, student loans, roth ira's and home ownership, and can say that very few physicians know about and are taking advantage of this option.
If you would like to bounce your situation off of me to see if REPAYE may make sense, please feel free to send me an email.
