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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Have you looked into the public interest loan repayment program?

I'm having a similar debate as you about whether to deplete my savings or keep my payments going although I am not a fed and have a lower rate.   If my rate was higher I'd probably move to pay more of it off.   [/quote]

The "loan forgiveness" doesn't help me, essentially because my loan balance is considered low enough compared to my salary and there would be nothing to forgive after 10 years, if I made any type of payments that would 'qualify' me for that plan.

(Qualifying payments could be 10-year repayment plan, Income-based repayment which caps payments at 15% of income for those with very high student loan balances..)

The only people who will benefit from "Public Service Loan Forgiveness" will be those with very high federal student loan balances relative to income-- there has to be something left to "forgive" after the years of qualifying payments.

[b]I'd look into the terms of that program very carefully - I don't think it will help too many people, plus the terms of the law could always chang[/b]e.

[/quote]
The PSLF program  (combined with IBR) is AWESOME in my opinion. It brings my loan payment down from 2200 a month to $287. I have 8.5 years left and I will have zero loans. But yes, it helps for those of us that have high student loans relative to our income (i.e. pretty much anyone that went to law school and now works for the government ha ha). Anyway, practically everyone I know is taking use of the program so it is helping a lot of people.

I am not too worried about the law changing considering I entered into a contract and it is all well tracked and everything I have read on the program (and yes I have done lots of research) shows that I will not get screwed. [/quote]

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