Recent Law Grad - Federal Student Debt..no idea where to start
Hey everyone, I rarely post on Reddit but aside from seeking a financial advisor, this was my only option. I just graduated law school, I’m studying for the bar and just found out I have my first loan payment due. I have a hefty amount. Almost $250K. Around 15k are from undergrad, subsidized. These have super low interests rates around 4%. That’s what the first payment they’re requesting is for and it’s like $160.
The remainder are unsubsidized and interest rates range from 8-9%. Aidvantage says that for the Direct Unsubsidized Loans, there’s “No Due Date” as of right now and the amount owed is $0. The Direct Plus loans say that payment is due 6/5/2025 but the amount due is $0. Not sure what this means.
Right now I’m living at home while studying but not working. I have very little saved and what I do have I will need to use to rent a place in a new city before my first paycheck. I’m going to move to an expensive city for my job in September - there’s no state income tax but rent will definitely be 1/3 of my monthly income. My salary will be just around $100k (without bonuses). Aidvantage says I’ll pay it all off by 2035 but I can’t see what the monthly payments will look like yet? Idk where to see that. but either way that feels like a lie with these big interest rates lol.
What should I do? Any advice is greatly appreciated!
Posted Jun 3, 2025, 4:06 AM UTC