Ibr after consolidating
Would the 3 years interest-free period restart again if I've already been on IBR?Does the 1 month standard payment in between plans still apply or could I get deferment/forbearance for that month?I’m just glad there’s a way out since I’d only been paying the min on IBR.That’s good to know about the interest restarting (which theoretically shouldn’t matter on PSLF) but I’m just nervous something’s going to happen to the program because me consolidating all of my loans and switching to PAYE actually screws me over more if I can’t get PSLFIt doesn't matter if you haven't applied for PSLF yet.I am not signed up yet for PSLF as I need to consolidate my loans into a direct loan first.Theoretically PAYE should work for me over IBR as long as the government doesn't get rid of it, but I'm extra screwed if they did (besides paying it back in full, my loans would be consolidated at a higher interest rate (that I had to do to get PSLF in the first place) and the interest from IBR would be capitalized on it.)Sorry, just rereading this thread.Nor can you consolidate the two together into a federal consolidation loan.
Do the benefits of 5 less years and only 10% discretionary income payment on PAYE outweigh 5 years' worth of interest capitalizing on IBR?
Unless the consolidation has a better interest rate or lower payments, there are no real benefits to obtaining a private consolidation loan.
Note that you cannot convert a private loan into a federal loan by consolidating.
Though its not a guarantee, myfedloan is usually the easiest federal loan servicer to work with.
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