<prompt> Human: Hey everyone, first time posting here so I apologize if I break any rules. I am a 26 year old about to graduate medical school and start a 5 year residency during which my salary will be 50-55kyear. My total student loan debt will be 230k with another 5k on credit cards. I have about 8000 cash in the bank. A couple questions:1. Is the pay as you earn repayment plan the smartest choice for repaying these loans 10 of monthly income -- 350month loan payment. Also any benefit to applying payments directly to interest while in residency?2. What can I reasonably afford for rent, car payment, entertainment cable, etc on this salary with factoring in monthly loan repayment. 3. I know very little about financial planning, is there anything I am missing that I should be doing? In terms of saving plans, investing, etc...  <response>: If I were you I would not do a pay as you earn plan. Interest on 230K is substantial, and 350 a month would not even begin to touch it. By the time your residency is over youll have added almost 40K to your bill at a modest 5 interest, and odds are your interest is higher than that. I cant say exactly without knowing your interest rates, but Id plan to spend more than 1000 a month on repayment just so you can stay above water during your residency. Once your residency is over you can throw serious money at it hopefully and be able to repay it with relative ease. After taxes your take home will be...mmm what? 40K or so, so a bit more than 3K a month. I suggest getting a roomie during your residency and keeping your living expenses low. Id take the cash you currently have and pay off those cards immediately, because you dont need any extra debt right now. Take advantage of employer matching on your 401K and focus what you can save on building your cash reserves back up. Once your e-fund is satisfactory, throw the excess at the loans with the highest interest rate to get the principal balance down. Budget, budget, budget. Itll suck, but as I understand residency suckitude is par for the course. Theres light at the end of the tunnel. 