While IDR plans can offer lower monthly payments and forgiveness, there are a few potential cons to consider, including: There could be a longer repayment duration—10 to 15 years, to be exact—compared to the 10-year Standard Repayment Plan. You likely will end up paying more in interest ...
This means if you put your loans into forbearance for three years during training, you could be eligible to receive three years of payment credit to taxable (20-25 years) and PSLF forgiveness. The IDR waiver will apply to borrowers in PSLF and taxable forgiveness. You will be eligible for ...
For those seeking the path of loan forgiveness, IDR plans that limit current payment obligations are often preferable, as even if they lead to the loans negatively amortizing (as the interest accrual on the student loans may significantly outpace the required payment if a borrower has a relativel...