Help with understanding what my options are!
Always been in IDR plans. I consolidated in April 2024 in order to get into SAVE. Now SAVE is gone. My loans are all pre-2014.
When I look at the student aid dashboard, they have me as active in the following repayment plans: SAVE, PAYE, and IBR. My payments were counted when I consolidated and when I look at the counter it says I have multiple loans but the highest count is 164 so my understanding is that for whatever plan I transfer to I will have 164 payments credited.
Using the student aid website I did the compare repayment plans and got the following results:
ICR- end term May 2034 (750)
IBR- end term April 2036 (600)
Extended Fixed- end term Feb 2051 (350)
Standard- end term Feb 2051 (350)
Extended graduated- end term Nov 2050 (range)
Graduated- end term Nov 2050 (range)
Is it correct that the payment count will reset for the last 4 options? So my only real options are ICR and IBR if I want to be "paid off" before I am 65?