Switching loan forgiveness plans
Posted: Tue Oct 31, 2017 2:03 pm
I got a raise at my government job recently, and I made the mistake of telling that to myfedloans when I went to recertify for my PAYE loan. You know the question: "has anything changed..."
But now my monthly payments next year have increased by a higher percentage than the raise I got (I believe they calculated poorly last year to my benefit).
My question is should I switch to a different payment plan, such as REPAYE or IBR?
Thanks!
ETA: does anyone have a link on how they determine the monthly amount?
But now my monthly payments next year have increased by a higher percentage than the raise I got (I believe they calculated poorly last year to my benefit).
My question is should I switch to a different payment plan, such as REPAYE or IBR?
Thanks!
ETA: does anyone have a link on how they determine the monthly amount?