The Standard plan will really just ask me to pay my entire loan balance in full?
I'm still on SAVE, I was on old IBR before that. From what I've read here if I don't actively switch to IDR/RAP then I will automatically be put on Standard. Some of my loans are 10 years old so I understand they will just ask me for the entire balance in one payment?
Is that accurate? Is that not the stupidest, least realistic thing ever or am I missing something?
I started aggressive repayment last August so I'm basically indifferent to what plan I'm on, I'm going to be paying more than the standard 10-year plan payment every month, but I'm just staggered by the idiocy of suddenly asking everyone who didn't actively choose a new plan and have 10+ year old loans to pay off the entire balance in the first payment. Clearly that isn't going to work.