Hey so I've searched through posts and can't find advice on my situation. Currently I have a double consolidated parent plus loan (120,000) sitting in save forbearance. From what I understand I should apply to the PAYE plan soon to get on an IDR before July 1st? That way once the IBR becomes available I'll be able to switch over to that one? I am not super sure the correct actions I need to take to minimize payments.
Thanks
Parent plus loan options
byu/FluffyWonder4372 inStudentLoans
Posted by FluffyWonder4372
1 Comment
IDR timing is tricky but yeah getting on PAYE before the deadline makes sense if you qualify. The switch to IBR later should be smoother that way, and you’ll avoid getting stuck with whatever standard repayment they’d throw at you otherwise
Just make sure you have all your income docs ready when you apply – the process can drag if they need to keep asking for paperwork