Pslf + Ibr or paye? Forum

Anonymous User · Post by **Anonymous User** » Thu Oct 03, 2013 5:52 pm

The title says it all. I qualify for PSLF. Is Ibr or paye the better deal? Sounds like paye, but I want to make sure I'm not missing anything. Also, can someone explain icr? Is that better than either Ibr or paye?

09042014 · Post by **09042014** » Thu Oct 03, 2013 5:52 pm

PSLF + PAYE should work too right?

bk1 · Post by **bk1** » Thu Oct 03, 2013 5:56 pm

PAYE generally seems like a better deal than IBR, but I haven't looked all that closely.

Desert Fox wrote:PSLF + PAYE should work too right?

OP seems to understand that even though the title is written confusingly (it should be something like: PSLF + [IBR or PAYE]?).

kalvano · Post by **kalvano** » Thu Oct 03, 2013 5:58 pm

PAYE if you can get it.

A. Nony Mouse · Post by **A. Nony Mouse** » Thu Oct 03, 2013 6:31 pm

PAYE is better than IBR, plus, I think it's not so much a choice as much as it is that you either qualify for PAYE and do that, or you don't and you do IBR. IBR is a longer repayment period before forgiveness (which doesn't really matter for PSLF of course), and a higher cap on payments than under PAYE. ICR is worse than all of them (I forget exactly why - I think it's because your interest capitalizes, although there's a cap, and the cap on monthly payments is higher than both IBR and PAYE. The only benefit to ICR is that you're not required to have a partial financial hardship, so it's an option if you don't qualify for IBR or PAYE).

Fujin11 · Post by **Fujin11** » Thu Oct 03, 2013 6:41 pm

Only 3L's or people who took a couple years off between college and law school wouldn't be PAYE eligible right?

andythefir · Post by **andythefir** » Thu Oct 03, 2013 7:21 pm

Fujin11 wrote:Only 3L's or people who took a couple years off between college and law school wouldn't be PAYE eligible right?

Not exactly. If you had any loans on October 7, 2007 then you are not eligible. So 3Ls who took out loans in the fall of their freshman year of college (if they went straight through high school>undergrad>law school) would not be eligible.

http://studentaid.ed.gov/repay-loans/un ... s-you-earn

Macarthur · Post by **Macarthur** » Thu Oct 03, 2013 8:07 pm

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