Repayment Type

[720lady]

Last day to consoldiate Sallie mae loans is June ending. to my suprise none of my direct student loans have been included. currently, i am not remiting paymnet. Plan to begin remitting payment again in 6 months. I am a government employee so i qualify for the 10 year forebeance of my loan balance. I am completing some paperwork to consolidate my elgible loans, only sallie mae by june 30. Not certain of which type of repayment i would need to select as a result of my government/public service 10 year foregiveness elgibility. Any information would be helpful so that i can make a decision quick. thanks.

[snowpuppy]

Last day to consoldiate Sallie mae loans is June ending. to my suprise none of my direct student loans have been included. currently, i am not remiting paymnet. Plan to begin remitting payment again in 6 months. I am a government employee so i qualify for the 10 year forebeance of my loan balance. I am completing some paperwork to consolidate my elgible loans, only sallie mae by june 30. Not certain of which type of repayment i would need to select as a result of my government/public service 10 year foregiveness elgibility. Any information would be helpful so that i can make a decision quick. thanks.

 

You need to make sure all of your federally backed loans are included in your consolidation.

 

In order to qualify for PSLF, you must choose either IBR or ICR plans to be eligible for forgiveness. There is no forbearance at the end of 10 years, the balance, if any, is forgiven.

 

If you google IBR/ICR payment plans you will come up with calculators that will show you the best option to choose.