Quote from: TheCollegeInvestor on October 15, 2019, 08:46:56 pmSince you currently don't qualify for PSLF, changing only impacts the timeline.
You can do the math - which pays less over the loan: IBR or Extended. Second, you have to ask yourself how your income will rise over the next decade. Maybe you just pay them off under either plan?
Finally, remember that your situation is exactly the "bet" the government is making. They offer these long income-driven repayment plans because statistically, most people earn more money over time - so they won't see loan forgiveness and in most cases, pay off the loans well in advance.
If your income went up, your IBR payment is still capped at 15% (max) of your discretionary income. Don't let your budget inflate simply because you earn more!
If it was me, I'd stay on IBR since you're going to either pay off the loan, or get forgiveness in (at max), 16 years. Shorter than what you'd have on Extended.
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