Yall. I’m a new grad with just around (slightly under) 199k in loans (gulp!). About 50/50 private and federal. I’m applying for RAP, since based on my understanding, my first year or so worth of monthly payments for the federal side will be $10/month (Year 1) onto ~$160/month (Year 2), compared to ~$1100 on the standard plan.
My private minimums are also ~$1000/month.
For context I finished grad school in May, began working in June. Does anyone know if what Im expecting is realistic? I had 0 income in 2025, and this year I’m only really working 7 months so that’s kind of how I figure they will calculate my minimum payments. If anyone is in a similar boat or already applied for RAP let me know! I know there’s been some hate for the RAP plan compared to SAVE? To me, it seems advantageous and kind of a really helpful way to attack private loans while the federal side effectively freezes for a bit.
I’m living at home, gonna try to be overly aggressive to get out of private. I estimate I can be fully out of private debt within 29-33 months. Happy to elaborate. If I’m way off with my understanding of how the RAP plan works, PLEASE let me know. Repayment begins November for me!
Posted by Intelligent-Meet-505