2. NUMBERS Repayment Strategies During Residency, Fellowship, and Practice Paul S. Garrard Founder and President, PGPresents, LLC Independent Student Loan Consulting NEOMED College of Medicine, March 2, 2015 2015 PGPresents, LLC - All Rights Reserved

3. Deliverables Simple steps to determining effective repayment strategy – Income-Driven Repayment plans (IBR and PAYE) and how they really work – Loan forgiveness programs, including Public Service Loan Forgiveness Proposed changes to repayment plans and forgiveness programs Consolidation and refinancing options

4. Considerations How much control do you want Constantly review strategy, especially when changes in income and family size and with fellowship and subspecialty No penalty for aggressive repayment Help from NEOMED continues after you graduate with Debt Management Listserv

5. Debt Management Listserv Free group email from PGPresents Proactive reminders and updates Completely private, just for NEOMED COM Class of 2015 Starts up after Graduation Send email to paul@PGPresents.com and mention NEOMED COM DMLpaul@PGPresents.com

6. Numbers $51,250 mean PGY-1 stipend – 25% federal tax bracket (single) – 5% estimated Social Security and state – Net annual take home of $35,875 – Estimated monthly PDI of $2,990 $1,665 monthly living allowance as M4 Net income “bump” of $1,325

7. $1,000+

8. Simple steps to strategy 1.Know what you borrowed, who has your loans, and when they come due 2.Identify and constantly review your repayment objectives 3.Consider repayment options during residency, fellowship, and practice