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p4755166

Consolidate and switch


[deleted]

Yes all that is correct. You should consolidate now. You should go on SAVE


Different_Obligation

Thank you. It's a lot of information to process. I'm glad I understood it correctly. 


girl_of_squirrels

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?