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Hi all, I'm a current clerk who will be starting as an honors attorney this August (GS-11, step 1). I've got about 105k in student loans and I'm currently on the graduated repayment plan (non-IBR), which is very tight but doable in my low COL city (think KY/IN/OH). In planning my move to DC, I'm considering switching to an IBR/PAYE/REPAYE plan and taking advantage of the PSLF program. Having an extra several hundred dollars in my budget to offset the high COL in DC and to begin to save for a home seem like obvious advantages to me. On the other hand, I'm concerned about the future of the program and the weight of accumulating capitalized interest that comes with IBR-type plans, which feels like it would wed me to the government for the next ten years and prevent me from considering other exit options. Am I a fool not to take advantage of PSLF? Am I overthinking this? I'm curious what others who are or who have been in a similar position think/have done.

It would take an act of Congress to end forgiveness. You are betting against Congressional action, which I think gives you good odds. I'm 5 years away, so far so good.

Since you're graduating already, I wouldn't fret about disappearance of PSLF. Assuming it goes away/is severely curbed at all (it probably will be at some point), even the proposal currently collecting cobwebs in congress grandfathers in anyone who is currently a student.

Does PSLF wed you to gov though? Yes. I am 3 years in and have previously considered leaving for the private sector before deciding to just stick it out until my loans get forgiven. I graduated law school young, so for me it's not a big deal to hang out for 10 years. Not to mention, as far as compensation goes, the disappearance of six figures of debt at year 10 is actually pretty amazing compensation, especially if you get a position that allows you to make GS-13/14 pay early on.

That said, if I absolutely hated my job and just needed to go private sector, PSLF wouldn't stop me. I think it's got strong enough appeal to break a tie between leaving to go private or staying public, but not strong enough to keep you in misery; especially if the private sector pays enough. And GS-11 in DC is NOT easy unless you live far enough outside the city. (I know; I did it). So I'd definitely go IBR/PAYE/REPAYE if I were you. Good luck!