I'm currently still on the SAVE plan. I haven't paid any of my accrued interest since 8/1. I was told if I want to switch to an IDR plan to count for forgiveness I would, but since I didn't pay any of my accrued interest my loans will be capitalized. Is that true? If you did with to a different plan from SAVE and didn't pay accrued interest did your loans got capitalized? I don't want to happen to me pay more money!
Anyone who was on SAVE and change to a different repayment plan, did your loans capitalized?
byu/Essiechicka_129 inStudentLoans
Posted by Essiechicka_129
5 Comments
They shouldn’t. Interest only caps after a deferment or when you leave the ibr plan specifically..or if you fail to recertify ibr specifically
Your interest does not capitalize when leaving SAVE
Mine didn’t.
Save to IBR here: No capitalization!
No. Leaving SAVE does not capitalize interest.