wohooo! 100K student loan payment

[Deleted]

DH new job just wrote out the checks to pay 100K of his med school loans ;D ;D ;D It covers close to half of it and we are planning to get the rest of it paid off in the next 5 yrs!

[Deleted]

That is awesome!

[Deleted]

We had to move 18 hrs away. Away from friends and family into a city much smaller than where we came from. I may or may not be able to find a job in my field but it was a sacrifice also knowing that I will never ever make half what my husband does, but I am hopeful I can find something part time to keep me busy, plus we are starting a family so I guess it is a good time. So far every one has been great and we love it here. Our plan is to stay for 5-7 years unless we really like it here and decide to stay longer. This was our MM way for one day be debt free, save, and invest and then maybe move somewhere else.

[Deleted]

Awesome, congrats!

[Kore]

Such a great feeling!

[yellowbrkrd]

That's great!

[Deleted]

Wow! What are the terms? That's awesome, congrats!

[Deleted]

Wow, that is amazing! Congrats to you and your h!

[Deleted]

Holy smokes that's fantastic! What field is your H in?

[Deleted]

He is in peds, and just a year out of residency. He is working for a hospital running a private clinic (with the option to buy the practice). He has to work here for 4 years or else he has to pay back the loan repayment. Not too bad, plus we might stay a little longer anyway. The salary is also great for peds (they are one of the lowest paid doctors!) and almost double what he was making previously working mostly nights in he ER. So overall, it is a great MM move. We had zero savings and some CC debt on top of the loans (I have no school loans thankfully) so hopefully we are headed to a much better place financially.

[ellipses84]

Congratulations! That is like winning the lottery. Great MM move!

[Deleted]

And we are going to be frugal (which is not as hard to do when you live in a LCOL area). Our mortgage is 10% of net income, despite the huge pay increase he is not upgrading cars (he promised--DH is a spender and lived beyond his means for most of medschool). We only splurged on new furniture for the new house since our previous furniture was a mix of cheap ones from grad school and some friends/family gave to us. We are saving on gas since his work is a 5 min drive (and I no longer have to drive 2 hrs each day to work making pennies!), and right now I work remotely from home (getting paid pennies in comparison but it lets me cover my car payment, groceries and pregnancy/baby related purchases). We don't pay for the dogs daycare partly because there is none in the area and now that I am home I can take care of them and we have a yard for them to play. And since we have more time (me working less), him working days, we cook more and eat out a lot less! And we see each other and the dogs more so we are very happy and thankful, except for one day having a baby and being so far away from family.

[limey]

:Y:

That's fantastic that you had such a great opportunity and both of you were willing and able to make the sacrifice.

My dad had a similar deal with his med school loans and it definitely enabled my parents to get a head start on working toward their professional goals.

[hellonurse]

That's great, congrats!

[zacksbride]

that's awesome! sounds like a great move. i'm super jealous - my med school loans are like a mortgage payment each month! and DH has med school loans as well

[fortmyersbride]

That's fantastic, what a great desk for your family.

DH and I haven't had offers for this but we're both in surgical based specialities so the burden for loan repayment isn't as bad for us as primary care. I have a friend in psych who received a similar deal and was very happy with the practice she ended up in (small university-based).

[heygrey]

Sounds like a great move!

Sometimes being away from family isn't bad. H and I are 3000 miles from ours and its been a great opportunity to strengthen our marriage. We have to lean on each other and be more resourceful than if we lived back east. I'm not sure i want to live away from them forever, but I'm glad we've had this time to ourselves to grow as a couple.

[Deleted]

I try not to think about what I had to give up: 2 years on a masters, 6 years on a Phd that I may never use if we end up staying here for an extended period. There is a small university in the city but with the budget cuts recently they are not hiring--and I am not sure if that is what I want to do. I am thinking about switching fields or starting a small business later on. But with the baby coming, overall this move still seems to be much better for the family financially. I am warming up to the idea of staying home and working part-time.

[SJ]

Amazing!!

[luvmagoldn]

Good for you!

[KaraOrNot]

Awesome!

[Deleted]

Yay! What a huge weight off your shoulders.

[protozoa]

Awesome! I hope everything works out well for you in the new location, and you find a good balance for you professionally and family-wise.