Apply for IBR first or Forbearance
I got out of default and was in the SAVE application processing forbearance. As I posted earlier I recently received a letter from Nelnet that the forbearance is ending this month- end of May and payments will start end of June. I would be put on the standard payment plan. My loans are prior to 2014 and I don't have a PSLF qualifying job. With the calculator, I won't be able to afford an IBR payment. I think in a year I will get down some current debt and hopefully be able to afford payments. Single no dependants 80K loans earns under 50K.
Question: Should I apply for an IBR plan and after it is processed, then apply for a hardship forbearance or should I apply for a hardship forbearance as soon as the processing one ends in a couple weeks? Right now, I can't apply for a hardship forbearance until the processing one ends.
Thank you all in advance.