Defer loan

I am wondering if everyone is able to defer loans when they begin residency. I heard something about if you are married or there is another income that you arent able to defer. I have a friend who is single, new resident and is defering hers. Is this something most people are able to do? Do most couples defer? I dont know how we would afford not being able to. Good newby question? Thanks!

[Vanquisher]

Oh, hell yes, you can totally defer. Thank Maude.

For the record, your dh's loans are HIS loans, and not yours, and your income is not taken into account for repayment of his loans.

Wohoo for that on the potassium injection plan!

We deferred ours. Oh, and CONSOLIDATE!!!

[houseelf]

I'm assuming that you are refering to the physician's loans. Absolutely. A couple of private loans continue to accrue interest. Pay those first if you can.

Your loans are not deferable. This sucks if you are in a supersize residency. Or so I've been told.

Kelly

[medpedspouse]

I do remember not being able to defer some of the loans BUT we were eligible for a forbearance. Every year since we have applied and have been accepted.

I, too, cannot stress enough to consolidate.

Well we are paying off my college loans right now and paying interest on one my dh's from college. He has consolidated all of his loans already so we are good to go on that end! Thanks for all of your info. Just curious, how much were you all paying per month when you started paying them back? Just thinking ahead! Thanks for all your advice.

[houseelf]

The amount of payback is highly dependent on several variables: how much you owe collectively, the term of your loan, and whatever percentage rate you locked in at.

DH owes quite a bit more than me but is looked in at 3.25. I am at 7.5 percent. There is not a lot of different between our payments.

It is a great idea to pay of your student loans if you can before residency if you plan to stay at home. You will need every extra dollar you can get.

Kelly