Student Debt (old)

Where to start?

You may be completely overwhelmed by your student debt. Or maybe you mostly have it under control and just want to make sure you didn't miss something important. Either way we have the basic info you need to tackle your loans below. We should note: the majority of the information below applies to Federal Student Loans.

If you only have a minute to spare,  check out the Bare Bones Infographic designed for the graduating medical student or resident. Later, come back and click through the short Prezi presentations* which will give you a broad overview of how to handle your loans.

After (or before) you finish the presentations go check out some additional resources we have put together. We've included a glossary and a couple loan repayment calculators on that page.

After all of that, If you still are confused about what repayment plan would be best for you, go check out our sample repayment scenarios. These scenarios are designed to help you quickly hone in on a small set of conditions which matches YOUR specific situation, and then gives you a recommended payment plan (complete with potential pitfalls and caveats). Have fun!

*Quick note about Prezi: You can go through in order with the arrow buttons or you can zoom into any section you want.


The Bare Bones of Student Loan Repayment

Need a quick overview of student loans and generic advice about loan repayment plans? Click on our nifty infographic for some quick answers. We still highly recommend going through the below presentations, but this will give you a kickstart.


Student Loan Basics

It's the basics. Click through at your own speed or simply drag and zoom in on what you really want to know. We try to answer the questions listed below:

What is a student loan? Who provides student loans? What are the main types of federal student loans?

How do interest, capitalization, and subsidized vs unsubsidized loans work?

What is a loan servicer? Where do I go to figure out what loans I have?


Repayment Plans Part 1

Before we dive into all of the different repayment plans for federal student loans let's define a few terms.

What is a grace period and what is the grace period on my loans?

What is deferment and forbearance? And how do I qualify for either of them?


Repayment Plans Part 2

Now let's get into the nitty gritty of the different payment plans. We address the following questions (and more!):

What are the available repayment plans? What is an income driven repayment plan?

What is standard, extended, and graduated repayment?

What is PAYE, REPAYE, IBR, and ICR? and how do I qualify for these plans?

What is a Partial Financial Hardship and what is my discretionary income?


Public Service Loan Forgiveness

Haven't heard of Public Service Loan Forgiveness (PSLF)? You will want to know about it, trust me. PSLF is a great way for doctors to deal with loans, especially if you have a large amount of debt. This presentations answers:

What is PSLF and how do I qualify for it?

What is a Direct Consolidation Loan and why would I want to consolidate my loans?


Misc Info

More info on dealing with your loans. Lots of links to information on:

Military Service, Federal Repayment Programs, State Repayment programs, Employer benefits, Private Refinancing, Loan Discharge


Want some more pleasurable sources on student loans?