Would appreciate some opinions.
All loans dispersed before 2014, repayment started on/around 2013/2014 after grad school. Work private sector, AGI %215,636.
I am wondering if I should switch to an IDR plan for my fed loans because I see these plans can result in forgiveness after # years of payment but I’m hoping to keep total loan repayments across both public/private below $1,500. (I expect to pay off both private loans within the next 3-5 years though so a short period so I am OK w/ going above that 1.5k goal for a short period).
Which IDR plan would you recommend for my fed loans and why?
Dept of Ed/Nelnet. GroupAA DIRECT CONSOL principal balance $26,477.24 at 6.250% + GroupAB Direct Consol principal balance $54,339.41 at 6.250% on Extended Grad repayment with total balance of $80,943.22. Current payment $479.78
Navient/Mohella Private 1937 Tuition Answer Loan. principal balance $3,669.09 at 13.250%. Current payment $324.85.
AES Private Loan (ALPLN plan). Principal Balance $11,128.34 at 10.58%. Current payment 233.30.
Help! Which Repayment Plan to Switch to?
byu/DntWatchFace inStudentLoans
Posted by DntWatchFace