What should I do bros?

Should I try to pay this thing off? 150k debt including UG. No biglaw but making about 70k

(https://autoadmit.com/thread.php?thread_id=2208854&forum_id=2#22838990)

(https://autoadmit.com/thread.php?thread_id=2208854&forum_id=2#22839033)

I mean having to pay the tax bomb at 25 years, if it even comes to that, is a much better option than paying the full balance over 15-20 years which it would likely take you anyway right?

(https://autoadmit.com/thread.php?thread_id=2208854&forum_id=2#22839057)

My biggest problem is that I really expect to make decent money one day. I'm in a decent position with my firm and I'm pretty good at greasing clients.

I have no idea what will happen if I let the balance balloon and then have enough $ one day.

(https://autoadmit.com/thread.php?thread_id=2208854&forum_id=2#22839075)

You could make $3MM a year and never have to pay more than what the ten year standard monthly payment would've been, which for you sounds like its probably somewhere between 1000-1500 a month.

You may have to pay tax on the forgiven amount though if the law is the same as it is now. you can put a lot in 401k to keep your agi down I think, so your monthly payment is less. you'll have time to figure out how to deal with the tax bomb, but like others have said you only have to pay up to your net worth. not necessarily ideal but perhaps better than trying to pay off thousand bucks a month on 70k in MFH? You have a lot of options to try to pay it down later...the money is much more valuable to you now then it will be then.

(https://autoadmit.com/thread.php?thread_id=2208854&forum_id=2#22839106)

Thanks a lot bro. Has this been ur moniker always?

(https://autoadmit.com/thread.php?thread_id=2208854&forum_id=2#22839130)

post as donny/donnydelorean, and others

It sucks that you're not eligible for PAYE because it actually is a really good deal. Just the government's way of subsidizing higher education really.

You could always start on IBR and pay more than the minimum if you feel like it, or if you come into more money. It just seems silly to really strain yourself to pay 1000+ a month for 15-20 years to pay it down, but of course if your circumstances change you may consider paying it down because you really don't have THAT much in loans.

Hope it works out for you man. you're a top poaster

But double-check what I said about the max payment on IBR and eligility while i'm fairly certain that's correct you may just want to double-check the details because I've been reading more about PAYE lately.

(https://autoadmit.com/thread.php?thread_id=2208854&forum_id=2#22839163)