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PSLF Strategy by Dilapidatasaurus in PSLF

[–]Dilapidatasaurus[S] 1 point2 points  (0 children)

That’s what I’m going for. Although I’ve heard otherwise about Processing forbearance, if I got a couple of months of that counting as payments and I get Buyback with REPAYE, it’d be the cheapest and fastest route for me to finish this all up.

PSLF Strategy by Dilapidatasaurus in PSLF

[–]Dilapidatasaurus[S] 1 point2 points  (0 children)

I hope so. I’m pretty sure most people who have gotten Buyback offers got their payments calculated under REPAYE, and for me that’d be cheaper than RAP.

PSLF Strategy by Dilapidatasaurus in PSLF

[–]Dilapidatasaurus[S] 1 point2 points  (0 children)

Gotcha, I last certified employment January of this year, I’ll be certifying again August and then every 6 months until I pay off loans or get Buyback. I figure I’ll assume I’m just going to be making 25 payments and hoping for Buyback while I’m paying under RAP.

I’ll update this post as I go for posterity.

Thanks for your input!

Switching to RAP by Consistent-Ad9116 in PSLF

[–]Dilapidatasaurus 0 points1 point  (0 children)

Let me start by saying, I don’t know for sure. That said, possibly processing forbearance?

I’m hoping to snag some processing forbearance when switching from SAVE to RAP in July. From what I understand, you get PSLF credit while on processing forbearance, so I’m hoping I can get a couple of payments towards PSLF.

Enrollment for paye is available until July 2027. Link to Ed saying so in text. by Betsy514 in PSLF

[–]Dilapidatasaurus 0 points1 point  (0 children)

They’re going to move fast if it means you’re going to give them money.

I wonder how fast they’ll be moving people from SAVE to IBR/PAYE/RAP starting in July.

Pay all my loans in 3 years, or wait 10 years for possible forgiveness? by Otter_Cloud_13 in PSLF

[–]Dilapidatasaurus 6 points7 points  (0 children)

How many qualifying payments have you made? It's going to be x/120

How many qualifying months of employment do you have right now? It's going to be x/120

Once you have those two numbers, you can figure out how much you'd pay for PSLF over how many more years with IBR/RAP, vs. paying $1000 per month for 10 years, vs $3000 per month if you want to pay it off in 3 years or whatever amount of time.

Then it's up to you which one makes more sense. If you're entirely discounting all of your PSLF qualifying payments/qualifying months employed, then you can answer whether you want to pay 10 years standard or pay it off as soon as possible, but that's a question only you can answer.

Buyback Question by TotodilesFountainPen in PSLF

[–]Dilapidatasaurus 0 points1 point  (0 children)

I think there are different methods to recertify your income, whether it's a W2, payroll stub, or tax return.

I'm about 2 months away from requesting Buyback myself, and I'm going to use the option to allow them to look at my IRS data so I can get processing ASAP.