I don’t qualify for PAYE.
I want to move from SAVE forebearance to RAP. (this plan makes the most sense due to 6 figure debt and the eventual tax bomb.
I am slightly worried i will be booted from SAVE before RAP is available and end up on the Old IBR. this would mean interest will captialize when i shift from IBR to RAP.
any thoughts?
Will RAP be available before SAVE expires?
byu/Unhappy-Ad-5061 inStudentLoans
Posted by Unhappy-Ad-5061
5 Comments
We don’t know. We suspect it will be.
We don’t know yet. Maybe. Hopefully.
But ICR is still available (as well as standard, graduated, and extended) if you need a plan to switch to before RAP that wouldn’t capitalize interest when leaving
Allegedly. But it’s ben pretty chaotic so far so it’s hard to be sure. I’m planning on just keeping my SAVE until RAP rolls out then switching.
A great concern, and a question that a lot of us have. Unfortunately there’s not an answer yet, we’ll just have to see what timeline they come out with.
It would be the most logical solution. However, this administration is not necessarily interested in logic.
So to give you the only answer that is guaranteed correct, “possibly so”.