Then due to the fact that you don't pay the interest, your real interest rate is 3.4% (fixed, right). loan forgiveness after 20 years, unless you qualify for PSLF or another type of forgiveness like for teaching.
Another tip is to recertify with your lowest income month. So let's say when you get your business, for the month of November it's your lowest month. You certify early then by paycheck/letter/etc. and they'll take this number instead of your annual IRS income. It's on the paperwork. Payment will be good for a year, you aren't forced to recertify early with a change in pay.
Here is the article on interest subsidy:
"RePAYE Student Loan Interest Subsidy
If your monthly student loan payment doesn’t cover all the interest that accrues on your loan, the student loan interest subsidy kicks in. The government will pay for 100% of accruing interest on subsidized loans for the first three years. After three years, they will pay for half of the accruing interest.
If you have unsubsidized loans, the federal government will pay 50% of the interest due."
https://thecollegeinvestor.com/19246/repaye-student-loan-interest-subsidy/I was actually skeptical but they sent me the regulations spelling it out. So I went back to my servicer and created a spreadsheet.... surprise! My interest rates were all over the place. It's a hassle but if I were you and I decided to go with a private loan because your payments started covering the interest, I'd definitely go back and calculate all of your interest for all the months you paid. I can almost bet you they've overcharged you. Which doesn't matter on REPAYE with forgiveness, but would of you refinanced.