My Debt is Better Than Hers: 5 Reasons Credit Card Debt Trumps Student Loans

1.       Are you kidding me? Look at the interest rate! First off the highest interest rate I have ever paid to a credit card company is 1.7%. In fact I have not paid a penny of interest other than that

How I Paid off My Student Loans at 30 as PGY1.

I hate debt with a vengeance. It all started when I was about 5 years old. I became aware of the dire financial situation my family was in. Debt collectors paid daily visits at our apartment door. I was scared

Is Revised Pay As You Earn (REPAYE) Repayment Plan for you?

    For larger or printable view, click Here. Benefits of REPAYE Plan The REPAYE Plan enables 5 million more Direct Loan borrowers to cap their monthly student loan payment amount at 10 percent of monthly discretionary income, without regard to

DWM Grand Rounds #1: Doc-to-Doc on Personal Finance

DWM Grand Rounds #1: Doc-to-Doc on Personal Finance

Title: Doc-to-Doc on Personal Finance & Physician Support Initiative   Highlights: Student loan management Public Service Loan Forgiveness Maximize Tax Efficiency/ Investment Return Physician Support Initiative P.S.I.   Date & Time:                                                              Location: July 6th, 2016 12-1 pm        

The Day I Started with Nothing…

The Day I Started with Nothing…

I will always remember how dreadful it seemed when I learned that my cost of attendance for 2010-2011 (first year of medical school) was about 90k… I’ve never made 90k a year prior to starting medical school (in fact, I still

Revised Pay As You Earn (REPAYE) or Refinance?

Revised Pay As You Earn (REPAYE) or Refinance?

This is an in-depth discussion about whether to go for Revised Paye As You Earn (REPAYE) or refinance your student loans with private banks like DRB or LinkCapital. Reader wrote: “My current thought is if someone wants to stay and

PSLF – Why REPAYE May NOT be the Best Plan.

PSLF – Why REPAYE May NOT be the Best Plan.

      [This is a guest post by Bo Liu aka Future Proof M.D., who runs http://futureproofmd.com/ He is a colleague in the field of radiology and a comrade in the mission of promoting financial literacy and empowerment among physicians.

RePaye vs. Paye vs. IBR vs. Refinance

RePaye vs. Paye vs. IBR vs. Refinance

      Dear MS4 around the world: Congratulations for coming this far! This is your match day/ early medical school graduation present from DWM. This chart will serve you throughout your residency & fellowship. I will continue to update this chart

Refinance Your Student Loans to as Low as 1.95%

    Recently, a friend of mine from Touro University- CA who’s now a practicing pharmacist refinanced her student loans with First Republic Bank (FRB) to a 15 year fixed 3.5% interest rate loan (she refinanced before the feds adjusted

Lowest Interest Rate in the Student Loan Refinancing Market!

        A few weeks ago, I learned of the best interest rates in the student loan refinancing market, from First Republic Bank (FRB). Reached out to them, here’s the scoop. More detailed post to come.   Instead of the 6.8% interest

Best of Both Worlds: More Cash Now & Lower Costs

I have been hearing from many of my co-residents that they are barely making ends meet each month, paying for rent or mortgage, student loan, food, childcare costs, etc. Wouldn’t it be nice if somehow we can free up some cash either

Student Loan Refinance 101

After writing up my first peer-to-peer presentation on personal finance for PGY’s, I decided to divide the presentation up into 2-3 posts as these slides illustrate important points. Since high interest rate student loan is one of the MAJOR way

Do it right; so you need No forgiveness-Part II

5 reasons I manage debt actively instead of hoping for forgiveness in 20 years.   Getting forgiveness is a hassle (each year you have to reapply for it. Rules and disclaimers are bound to change.) The projected forgiveness amount is the

Do it right; so you need No forgiveness-Part I

  Forgiveness program is not all that forgiving. This is a post for those beyond living on borrowed money as students but have yet gotten to the end-of-the-tunnel where fully realized income potential illuminates. In medicine, this transition between accruing student loan debt and