Sean Pyles

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This episode question comes from Sydney, who sent us an email.

Hi, NerdWallet friends in my head.

I am a 34-year-old full-time nurse, married with no children, currently managing a student loan balance of roughly $30,000 with a monthly payment of $500.

Based on my calculations, I have about three years of payments left before qualifying for public service loan forgiveness.

I'm also starting my master's degree.

My husband and I currently own a home, but are planning to sell and purchase a new one closer to work.

Earlier this year, I also had to purchase a new car due to commute demands, resulting in a monthly car payment of nearly $600.

Both my husband and I have excellent credit.

He carries roughly $50,000 in student loans, but no car payment.

We maintain just under three months of savings in a high-yield savings account as we navigate these financial and life transitions.

So a lot has happened in the world of student loans and repayment options over the past year or so.

So Kate, to kick things off, can you outline how public service loan forgiveness works exactly, just so we know what we're working with here?

It wouldn't be a qualified payment in this case.

So, Kate, just so I'm totally clear, these payment plans that you just outlined, they run sort of parallel to PSLF, right?

That's a mortgage.

Yes.