If you are currently in medical school, in residency or are already working as a physician, chances are you have medical school loan debt. The next question is, what is your plan for repayment? Are you planning to refinance, repay through a forgiveness program or stay with your current repayment plan?
The sheer amount of student loan debt medical school students and graduates hold, along with the potential to utilize forgiveness programs, means it’s important to choose the right repayment strategy for your specific situation. However, the repayment options available to you can be confusing and complex to navigate.
That’s why we’ve sought out and vetted resources to help you make a plan.
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To get personalized help (from a real person) we recommend:
Student Loan Planner specifically helps students with monster student loan balances (ranging from $50,000 to $1 million). They will help you create a custom loan plan made just for you that details the path to debt freedom. They charge a one-time fee for a thorough review.
How it Works:
They’ll ask you for some information before your call, and they will prepare an analysis ahead of time that they’ll deliver when you talk.
When the time comes for your call, you’ll have a discussion with one of their student loan consultants and they’ll look at your unique situation. They will provide you with an exhaustive review of your repayment options, and take a hard look at the path you’re on. If you’re already doing everything right, they’ll take the burden of not knowing off your plate and confirm you’re doing everything you can to maximize your savings. If you’re missing something (and 90% of people are), they will give you ideas of how you can save thousands of dollars over the lifetime of your loans.
They will answer all the questions you have and are available for email support for up to six months after you sit down together (and that’s all included in the one-time fee). If you use the eQuez-specific link to schedule a call, you will receive email support for an extra six months for free (for a total of one full year of free email support instead of the standard six months after your call).
Why we like them:
- They help you know about all of your repayment options and help you assess and strategize which option is best for your specific scenario.
- Flat fee and transparent, affordable pricing
- They will save you time! They are the experts and know the ins and outs of student loan repayment strategies.
- You can rest assured knowing a CFA or CFP® professional has reviewed your situation and has given you unbiased advice.
When is the best time to make a plan?
Whenever you’ve taken out your last loan is the best time to make a plan for repayment. This could be during your last semester of school or before you start your residency. Generally speaking, the sooner you make a plan, the better! You can also make a plan during or after your residency as well.