Congratulations! That's so awesome and I imagine such a huge relief.
It's something I consider trying for, but I worry that my payment would go up so much with IBR that it wouldn't be attainable and would be paid off before forgiveness kicked in.
You can check out the calculator they have lots of different payment methods now but it seems to make the most sense if you have a very high balance
Congratulations! I have been wondering if you heard an update but didn't want to ask since I'm a nobody around here! Your total makes my $140k look like nothing! I hit my target in 6 months!
Congratulations! I have been wondering if you heard an update but didn't want to ask since I'm a nobody around here! Your total makes my $140k look like nothing! I hit my target in 6 months!
I think one of the hardest parts about this program is that so many people can’t manage the monthly payments to get 120 done.
Definitely. It's why, although I'm hoping to take advantage of the program, it will be 18 years or so after graduation by the time I'm eligible. There have been multiple points in my life where the income based payment was unaffordable vs the graduated extended repayment plan payment. I am back on one now and hope to only have about 6 more years before I can get the rest forgiven, but it's also worth noting that by then with 18 years of payment I'll have more than already paid back what I borrowed and a good chunk of the interest anyway...