It might be best to wait for the RAP plan in July.
The Repayment Assistance Plan (RAP) is a proposed federal student loan repayment plan designed to replace existing income-driven repayment (IDR) plans like SAVE by July 1, 2026. It caps payments at 1%–10% of Adjusted Gross Income (AGI), extends repayment to 30 years, and includes a $50/month reduction per dependent child
horsebycommittee on
There are several income-driven repayment (IDR) plans. SAVE is dead but others remain and a new plan (RAP) will be available this summer.
As for what the best path for you is, we need a lot more information–
* Is your income likely to increase much over the next 20 years?
* Are you married (or planning to be)? (If yes, what is your spouse’s income and loan situation?)
* Do you have (or plan to have) children? (How many?)
* What other debts do you have?
* Do you work for a PSLF-eligible employer (government or most non-profits)?
* Are your loans solely federal or are there also private loans?
* Are all the federal loans in your name or are there also Parent PLUS loans in your parent’s name that you’re helping to pay?
* Do you have any medical conditions/disability that will impact your ability to maintain full-time work?
WarmBoysenberries on
My research tells me that RAP is best for someone like you who is likely seeking forgiveness because of a high-balance and moderate income. You can look into ways of lowering your AGI to reduce payment amounts too, like increasing 401k and hsa contributions
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It might be best to wait for the RAP plan in July.
The Repayment Assistance Plan (RAP) is a proposed federal student loan repayment plan designed to replace existing income-driven repayment (IDR) plans like SAVE by July 1, 2026. It caps payments at 1%–10% of Adjusted Gross Income (AGI), extends repayment to 30 years, and includes a $50/month reduction per dependent child
There are several income-driven repayment (IDR) plans. SAVE is dead but others remain and a new plan (RAP) will be available this summer.
As for what the best path for you is, we need a lot more information–
* Is your income likely to increase much over the next 20 years?
* Are you married (or planning to be)? (If yes, what is your spouse’s income and loan situation?)
* Do you have (or plan to have) children? (How many?)
* What other debts do you have?
* Do you work for a PSLF-eligible employer (government or most non-profits)?
* Are your loans solely federal or are there also private loans?
* Are all the federal loans in your name or are there also Parent PLUS loans in your parent’s name that you’re helping to pay?
* Do you have any medical conditions/disability that will impact your ability to maintain full-time work?
My research tells me that RAP is best for someone like you who is likely seeking forgiveness because of a high-balance and moderate income. You can look into ways of lowering your AGI to reduce payment amounts too, like increasing 401k and hsa contributions