PAYE has lower payments than REPAYE. While the interest subsidy in PAYE isn't as great as REPAYE don't worry about that now for the next 6 months. Just stay in PAYE and make up your mind how long you'll be in training and if you are going for PSLF. There's a lot of variability on what's better for you but depends if you are doing PSLF, end up getting married and how you file taxes, and if your spouse has loans/high income.
Your interest is 0% for the next 6 months. Your $0 payments for the next 6 months count as payments for PSLF due to the CARES act. If you are in training for 9 years strongly consider working for public service as you final year payments will be based on half a year of fellow salary and the other half attending. Then do whatever it is you want to do that makes you happy.
As for your old payments I hope you kept records. On studentloans.gov you can also check all of your history. It's very possible Fedloans screwed up calculations. Other than the 6 month grace were you in administrative forbearance during repayment plan changes? You can have them do a manual recount. Right now they are a little busy though fixing all of our accounts due to the CARES act. Wait until after 4/10 to contact them.
Your interest is 0% for the next 6 months. Your $0 payments for the next 6 months count as payments for PSLF due to the CARES act. If you are in training for 9 years strongly consider working for public service as you final year payments will be based on half a year of fellow salary and the other half attending. Then do whatever it is you want to do that makes you happy.
As for your old payments I hope you kept records. On studentloans.gov you can also check all of your history. It's very possible Fedloans screwed up calculations. Other than the 6 month grace were you in administrative forbearance during repayment plan changes? You can have them do a manual recount. Right now they are a little busy though fixing all of our accounts due to the CARES act. Wait until after 4/10 to contact them.
Request a recount. It will take a few months.
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Happy to break this down:
**PAYE vs REPAYE:** PAYE caps payments at 10% discretionary income but requires financial hardship to enroll. REPAYE (now SAVE) is also 10% but no hardship requirement — and has a better interest subsidy (unpaid interest is covered). For most residents, REPAYE/SAVE is now the default better choice.
**PSLF compatibility:** Both PAYE and REPAYE qualify for PSLF, as long as you're at a qualifying employer (501(c)(3), government). Every on-time IDR payment counts from day 1, including during residency and fellowship.
**Modeling the math:** The app **RAPlan** (RAP Loan Calculator – RAPlan App - App Store) is built for exactly this scenario — you input your loan balance, projected attending salary, IDR plan, and it calculates the optimal repayment path including PSLF forgiveness amount vs. aggressive payoff. Worth running the numbers before you commit to a strategy.
**PAYE vs REPAYE:** PAYE caps payments at 10% discretionary income but requires financial hardship to enroll. REPAYE (now SAVE) is also 10% but no hardship requirement — and has a better interest subsidy (unpaid interest is covered). For most residents, REPAYE/SAVE is now the default better choice.
**PSLF compatibility:** Both PAYE and REPAYE qualify for PSLF, as long as you're at a qualifying employer (501(c)(3), government). Every on-time IDR payment counts from day 1, including during residency and fellowship.
**Modeling the math:** The app **RAPlan** (RAP Loan Calculator – RAPlan App - App Store) is built for exactly this scenario — you input your loan balance, projected attending salary, IDR plan, and it calculates the optimal repayment path including PSLF forgiveness amount vs. aggressive payoff. Worth running the numbers before you commit to a strategy.
