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Regular Contributor
Posts: 217
Registered: ‎01-29-2011

IBR plans are triple my payment l! Smh

So doing he income driven payments would not work. I had a rep calculate that for me. She ask for our AGI and of course it was too high so I won't qualify. Seems like I'm basically stuck. Any other options? I already went into default and rehabbed and I was told that I can't do that again. Ok already 120 past due and am currently paying on my private loan.


Starting Score: 520
Current Score: 627
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Established Contributor
Posts: 794
Registered: ‎06-23-2010

Re: IBR plans are triple my payment l! Smh

If you have more than one federal loan, you can see if you can consolidate your loans into an extended payment loan.  That will stretch it out over 20-25 years making the payment lower, but you will end up paying more interest in the long run.  Also, I don't know the impact of that to the loan forgiveness you mentioned in another post, so you'd have to research that.

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