When to start IBR/PAYE paperwork?

[jfellings]

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Graduating medical school in June and am wondering when do people start the paperwork/consolidation process for IBR/PAYE. Do you do it early so your in a payment plan by the start of residency? Or do you wait to maximize your grace period time?

 

[secants]

I'm in the same boat as you and from what I recall, you have to first touch base with your lender about consolidating the loans and then applying for IBR, which usually takes about 2 months as per my Fin Aid office. I think the only advantage to using the grace is if you plan on using some of the money to pay the interest on your med loans before it capitalizes at the end of grace.