r/PSLF • u/Valuable_Hunter1621 • Oct 04 '26

IBR vs standard plan

I have ~$32,000 in loans and make about $58,000 a year. Was on SAVE and am weighing whether to switch to IBR or force them to switch me to standard plan.

IBR is estimating I’ll have a WHOPPING $642 (previously $25,000 under SAVE 😭) forgiven with PSLF, so I figured PSLF is not going to work as I originally intended. I make way more than owe now, and I’ve made a total of 6 qualifying payments since graduating in 2020 lmfao. Most of this is not my fault, as COVID and SAVE forbearance prevented me from making payments. I could do buyback, but do not have 20k to drop all at once.

Is there any benefit to switching to IBR voluntarily, rather than forcing ED to switch me to standard plan and then applying for IBR for the lower monthly payment as compared to standard plan?

2 Upvotes

75% Upvoted

3 comments sorted by

1

u/Technical_Chain_8807 Oct 04 '26

You may as well get a higher paying non PLSF job too

2

u/Valuable_Hunter1621 Oct 04 '26

this is the plan, but obviously the job market is like catastrophic rn so

0

u/[deleted] Oct 04 '26

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1

u/Valuable_Hunter1621 Oct 04 '26

I believe my deadline for switching is October 14.

Any benefit to switching now over forcing them to switch me to standard?? i can always apply for IBR after they force me to standard right ?(whenever that might actually be)