Second, typically any changes made to repayment plans will keep you grandfathered in. Congress can’t phase out PSLF simply by de-funding it. They actually have to pass legislation to change it, and any retroactive changes will likely fail (both to pass, and if it does pass, will likely die in court). We can’t guarantee that, but it’s what will likely happen in our opinion.

I finished grad school with about 50k in federal direct loans. I immediately went to work in a non profit and enrolled in IBR repayment plan. I paid on this for about 5 years which left me owing about 80k. At the time I was not concerned because I figured I would remain in the same field for at least 10 years and would be eligible for forgiveness. However, I got a new job in the private sector last year, nearly tripling y salary. I switched to standard repayment plan and have paid down my loan aggressively and am now back down to about 45k. My fixed interest rate is 6.5%. I plan to pay off the remainder in the next year (barring any catastrophic events). My question is — is my best bet to just continue (over) paying my loans on this current plan or do I have any other options? Am I able to pay them off with a private loan that has a lower interest rate? Thanks so much for your help!
I have my payments deferred at the moment as I have not been able to work, due to caring for my daughter with special needs. My husband is the only one working. The loans are in my name only. My/our question is this; If I can find a way to bring in ANY income at all, won’t it just make my payment go even higher? Because doesn’t every plan include my husband’s earnings?? My husband says it makes no sense to do that-try and find SOMETHING to earn because we will be out more money in the end-due to them always using his income. Are we missing something?
SoFi: Fixed rates from 3.46% APR to 5.98% APR (with AutoPay). Variable rates from 2.05% APR to 5.98% APR (with AutoPay). Interest rates on variable rate loans are capped at either 8.95% or 9.95% depending on term of loan. See APR examples and terms. Lowest variable rate of 2.05% APR assumes current 1 month LIBOR rate of 2.05% minus 0.15% margin minus 0.25% ACH discount. Not all borrowers receive the lowest rate. If approved for a loan, the fixed or variable interest rate offered will depend on your creditworthiness, and the term of the loan and other factors, and will be within the ranges of rates listed above. For the SoFi variable rate loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases. See eligibility details. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. *To check the rates and terms you qualify for, SoFi conducts a soft credit inquiry. Unlike hard credit inquiries, soft credit inquiries (or soft credit pulls) do not impact your credit score. Soft credit inquiries allow SoFi to show you what rates and terms SoFi can offer you up front. After seeing your rates, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit inquiry. Hard credit inquiries (or hard credit pulls) are required for SoFi to be able to issue you a loan. In addition to requiring your explicit permission, these credit pulls may impact your credit score. Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.
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