I have been on the IBR Plan for a few years and due to such low income previously I have barely paid much off of my debt while my interest accrues. After reading your articles I checked studentloans.gov repayment calculator and double-checked with Navient- I am thinking of switching to the RePAYE plan as this would lower my monthly payments and take 10% of my discretionary income as opposed to the 15% that IBR takes.

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I was called this morning from a loan company that calls me everyday but today I decided to answer. They told me they were from Allied Navient and wanted to take my loans from 35,428.06 to 2394.08. Is this a scam? The first person that I talked to when I answered seemed like he was paid to just break through the wall that I put up! The second person had my info and when I seemed interested in her offer she got me to a manager! He got on the phone and immediately took the offer to 1597.00 to put me in good standing? I have resources (friend) available to help but I don’t want to put him in that situation! He also wouldn’t give me the money until I researched to find out if I was getting scammed as he had never heard of that kind of offer!
However, if the borrower chooses to make monthly payments automatically by electronic funds transfer (EFT) from a bank account, the variable rate will decrease by 0.25%, and will increase back up to the regular variable interest rate described in the preceding paragraph if the borrower stops making (or we stop accepting) monthly payments automatically by EFT from the designated borrower’s bank account.
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