I have approximately 25,000 in federal loans at 6%. I was moved to SAVE from payee without consent. I am not working at the moment. I am NOT going for PSLF. I’m thinking of waiting it out until I am forced to leave and check out my options. Have been making payments to keep up with interest. Moving to payee now seems crazy since it will also be obsolete.
Currently on Save. Need advice
byu/LowRuin5813 inStudentLoans
Posted by LowRuin5813
1 Comment
You could switch to a different plan other than PAYE, or wait until RAP starts up. If you don’t have any income, your payment on whichever current income based repayment plan you choose should be $0, but at least that way it would count towards forgiveness. Although given the comparatively low amount owed, it’s likely going to be more cost-effective to just pay it off instead of having it forgiven, at least unless you plan on remaining low/no income forever.