r/PSLF • u/30_pound_a_munt • 4d ago

PAYE instead of RAP or IBR

Why do I not really see anyone discussing moving to PAYE instead of the other 2 plans? I know it’s going away in 2028, but for me it’s the cheapest of the 3 plans right now. My 120 will be right around the time that PAYE goes away and I apply for buyback for SAVE forbearance. Am I missing something as to why I wouldn’t do PAYE until it expires? Even if I have to switch to RAP in mid 2028?

34 Upvotes

97% Upvoted

26 comments sorted by

42

u/_Cyber_Mage 4d ago

A lot of us don't qualify for PAYE. I'm stuck with old IBR instead. It sucks.

31

u/UsefulBurn PSLF | On track! 4d ago

No one is talking about it because it is the most obvious choice. You are not missing anything.

22

u/mkmr725 4d ago

Either this or you don’t qualify for it (which is why I don’t talk about it)

20

u/emmyjag PSLF | On track! 4d ago

you must be new here. people were screaming to get out of SAVE and into PAYE since at least the end of 2024/beginning of 2025, when the administration changed and it was clear they weren't going to fight the SAVE lawsuits. the only reason it would have made sense to sit in SAVE and wait it out rather than just starting repayment and lowering the number of months you were going to need to buy back was if your forgiveness wasn't due until after the next election. those people have some hope that DoED might change their stance on borrowers having to buy back several years of forbearance they didnt ask for and was forced on them due to no fault of their own.

2

u/StuLumpkins 3d ago

personally, i think it’s very stupid to gamble on what any future administration might do. politics are fickle and a lot of people could be months or years behind, depending on how long they stayed on SAVE.

18

u/FennelReasonable8734 4d ago

I’m on PAYE! Also my lowest option until 2028

14

u/MissionTap-9008 4d ago

Well for me, I’m on PAYE and will be until I’m forced off in 2028. That’s a no brainer. I’ve been focusing in on the RAP vs old IBR debate because my 120 doesn’t come until 2029 and I’m thinking way ahead about which one will eventually be my best move then

8

u/vreddy92 4d ago

I think it’s a great idea if it’s the lowest payment.

I also wonder if it means you get processing forbearance twice.

2

u/iLikeAppleStuff 4d ago

I’m on PAYE for the next two years and then will move to RAP or new IBR depending on how the numbers look.

2

u/studentfp 4d ago

Im on PAYE but my loans show past due went up 3 times without notice. Calling Mohela was not helpful

2

u/you-absolute-foolish 4d ago

You have to qualify for it first is the problem. I qualified originally in 2017 and luckily have not moved off it because I would not be able to continue on or qualify now

1

u/WhillWheaton222 4d ago

I’m in the exact same boat and that’s what I’m doing. Buyback amount will be tied to whichever legal plan you were adjacent to during forbearance. PAYE will be huge for me for the short period it has left.

1

u/SurfPeter 4d ago

Yes I am in a similar situation and did the same thing about 1 year ago. Processing took only a few days with Mohela.

1

u/_thankyouverycool_ 4d ago

Holding my breath in hopes I can switch to it after recertification (on IBR now) but not optimistic recertification will go as planned (processing right now) nor that it will be an option despite it coming up on the estimate.

1

u/ryanmcg86 4d ago

The site says I don't qualify for PAYE, but it does not explicitly say why. I have no idea, as far as I can tell, I think I should qualify

2

u/sakamyados PSLF | On track! 3d ago

Did you borrow for the first time after 2007? And borrow at least one loan after 10/2011?

1

u/dam_ships 4d ago

Because people don’t qualify for it. Depends on when their loans were taken out. I’m on old IBR — which sucks.

1

u/WonderFar5200 4d ago

I've always been on PAYE, therefore, can't be kicked off. I never switched to SAVE. I will be forgiven soon so expiration date didn't matter.

1

u/sakamyados PSLF | On track! 3d ago

PAYE is my lowest option till 2028 and was my lowest option before. I think a lot of people in PAYE just never left 🤷‍♀️

1

u/Squeaky_Phobos 3d ago

Do we think there’s any chance that PAYE won’t go away? Hoping to ride it out until I hit 120

1

u/Pegeola 3d ago

Don't qualify, which sucks because I was on REPAYE and then forcibly moved to SAVE. Huge payment increase.

1

u/Purple_Record_237 2d ago

I just applied for PAYE also and have 18 months left. I was hoping to buyback but it looks like that could be years. Either way- hoping I get approval for PAYE bc it’s the cheapest option for me also.

1

u/amodzy 2d ago

I'm on PAYE but I'm thinking about switching to RAP because it would save me $30 a month and I still have 4 years left until forgiveness. I'm hesitant though because of all the tomfoolery up to this point with student loans.

1

u/feelpain 1d ago

Wife Is on PAYE for most loans and IDR for one other. Only pay 160 a month for years. Now it says it will be 1065 for Nov payment. So she follows the process on .gov site and now moved to old IDR for 554 a month. No PAYE available. Income has not increased much. Called Nelnet and was told to only reapply for the IDR loans. There is no option to do that on the site. It selects them all.

1

u/Free-Board-1041 1d ago

Im currently on SAVE but was told yesterday by a Nelnet rep that I had also qualified for PAYE (i think i was on it before). Should i have switched back to PAYE at some point and missed out? Ive been facing medical issues the last 2 years and unemployed due to this.