NYstate wrote:rad lulz wrote:NYstate wrote:Wasn't there an executive order or something that was reducing the term to 20 years instead of 25? I can't find it now but I thought it started last summer?
Yeah man PAYE.
Well I'm not on either plan but I find this confusing. Even many of the links I read about it seem to confuse IBR and PAYE as if they are the same thing. I guess IBR wasn't good enough so they had to enact a better plan?
Well I mean the main difference is 10%/20yrs on PAYE vs 15%/25yrs on IBR, so it's a crappy deal either way really
Also some people depending on when they took out loans may not be eligible for PAYE