Switching now vs July to RAP
Hello, this may have been beaten to death already, but since my situation is a little bit unique, I want to get some feedback. I have over $600,000 in student loans. I have roughly 3 years of public service towards my count period for the last year plus, because the SAVE plan has been in a flux, I haven’t made any payments while the government has been figuring out what to do with the plan. Now that we finally know that SAVE is ending, the only plan I’m eligible for is the RAP.
In any case, my question is, does it make a difference if I switch now over to RAP versus in July when this mandate takes effect?
My hesitancy is that 10% of my income will be a fairly significant amount and I realize I’ll have to pay it sooner or later but just wondering if it makes any difference other than resuming my PSLF count sooner.
Thank you