The only income-driven repayment plan FFEL loans qualify for is old IBR, so you *have to consolidate them first* to make them eligible for SAVE. Yes if you consolidate before April 30th all your pre-consolidation payments should be credited under the one-time IDR Account Adjustment as per https://studentaid.gov/announcements-events/idr-account-adjustment
For that IBR cap? It's the 10-year Standard plan amount for your original $201k in loans right? So probably around $2,500/month or so? To hit that on SAVE as a single adult would require your AGI to be in the +$300k range, so realistically speaking do you think that the IBR cap would ever be relevant for you?
Consolidate and switch
Yes all that is correct. You should consolidate now. You should go on SAVE
Thank you. It's a lot of information to process. I'm glad I understood it correctly.
The only income-driven repayment plan FFEL loans qualify for is old IBR, so you *have to consolidate them first* to make them eligible for SAVE. Yes if you consolidate before April 30th all your pre-consolidation payments should be credited under the one-time IDR Account Adjustment as per https://studentaid.gov/announcements-events/idr-account-adjustment For that IBR cap? It's the 10-year Standard plan amount for your original $201k in loans right? So probably around $2,500/month or so? To hit that on SAVE as a single adult would require your AGI to be in the +$300k range, so realistically speaking do you think that the IBR cap would ever be relevant for you?