Question about PSLF on IBR...

[CuriousPharmD]

Is it possible not to be eligible for IBR repayment after repaying student loans on the IBR repayment plan after several years? I played with the numbers a bit and it seems to be that I will be uneligible for IBR repayment after about 5 more years. At that time I will be about a year away from PSLF and I don't want to lose my eligibility for IBR.

Can anyone shed some insight to my question? Thanks!

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[RangerBob]

If your 10-year standard repayment monthly payment is equal to or less than your IBR monthly payment, then you get switched back to the standard repayment plan. But those payments are still PSLF-qualifying, so if PSLF is still around you would still be eligible for PSLF even if you're no longer eligible for IBR.

 

[RangerBob]

I probably could've worded that better--once your IBR payment catches up to your 10-year payment, you switch to the 10-year repayment plan.

 

[SigmaFS]

Keep in mind that REPAYE (Revised Pay As You Earn) is expected to be available in Dec. 2015. This is of interest to you (OP) because it causes the AGI threshold to be higher. As a general rule of thumb, you no longer remain eligible to remit IBR payment amounts when your AGI equals or exceeds your student debt level when you enter IBR. For REPAYE, you no longer remain eligible to remit REPAYE payment amount when your AGI equals or exceeds 150% of your student debt level when you entered an income driven payment program.

 

[sylvanthus]

"If your income increases to the point where you no longer have a partial financial hardship, any unpaid interest that has accumulated would be capitalized (added to your total loan balance). You can still stay in IBR, and your payments will be capped at the 10-year standard monthly payment on the balance you owed when you first entered repayment on the loan. You will never be "kicked out" of IBR based on your income. Here's a calculator to find outwhat that 10-year standard payment would be."

 

[Yellow mellow]

Can you include your private student loans for yourself or spouse when the question ask how much student loans your spouse has ?