My wife is in an interesting spot. Similar to @Johnny Hammersticks, she is a school psych (not a PhD, just a MS) and this is her 8th year in a public school here in NY. Obviously we are awaiting the supreme court’s decision on the 10k she is eligible for in relief via Biden’s plan.
If it goes through, we will pay off the remaining balance no matter what.
Although, I am assuming it won’t, and she’ll be on the hook for the full remaining balance (around 16k). We are contemplating what it’d look like to pay outright a large sum and be done with it vs. paying on the loans for two more years while incruing interest and seeing is the PSLF would wipe out the remainder, ultimately saving us money in the long run. We’ve run a few amortization schedules in the past, and it seems to come down to how fast she could get approved and the loans forgiven.
We’ll see! She’s contemplated returning to school for her PhD and looking into private practice. A few of her old classmates at her graduate program went on to do that. She currently works with one of the most needy inner city populations. Her job is difficult. She’s a warrior. Either way I am happy for her, and us, to be done with that unnecessary burden. I know she has more than earned it.