When to sign up for REPAYE?

[Starbuxian]

Just graduated last month and about to start residency in a couple of weeks. Am in deferment until October.
My question is: When do I apply for REPAYE? Wait until September? Do it now?

---

Members don't see this ad.

 

[SigmaFS]

The recommended strategy for MD/OD students starting residency is to consolidate (https://studentaid.gov/app/launchConsolidation.action) immediately after MD/DO graduation and before starting residency. In the process of consolidation, you can select REPAYE. This is suggested for several reasons:

1. Federal Direct Unsubsidized Loans cannot enter a repayment plan until the end of the 6-month grace period. Consolidation allows you to waive the Unsubsidized grace period and both the Unsubsidized & Graduate PLUS loan types can enter REPAYE sooner.
2. You start the repayment clock sooner.
3. Because you may not have income until you start your residency, no student loan payments for a 12-month period after your consolidation is approved.

Congrats and good luck!