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Question: Are my loans eligible for PAYE? I think I'm stuck with IBR or REPAYE.

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  • OutRun
    replied




    Hey OutRun,

    Glad you got it sorted out, it is quite a bit to stay on top of but definitely worth staying informed. Here is a document on some of the proposed changes for the president’s 2017 budget that may of interest to you as well as it is in regards to student aid proposals. https://www.aamc.org/download/373230/data/ffstudentaid.pdf

    Dr. J
    Click to expand...


    Wow! I just read that proposal and I hate it. I know the cap's been brought up before in the 2016 FY budget proposal.

    Leave a comment:


  • MedSchool Financial
    replied
    Hey OutRun,

    Glad you got it sorted out, it is quite a bit to stay on top of but definitely worth staying informed. Here is a document on some of the proposed changes for the president's 2017 budget that may of interest to you as well as it is in regards to student aid proposals. https://www.aamc.org/download/373230/data/ffstudentaid.pdf

    Dr. J

    Leave a comment:


  • OutRun
    replied
    Follow-up:

    I received a response to a direct email from FedLoan and it's been clarified that I'm eligible for PAYE. I believe some of the customer service reps in the call center may have trouble themselves remembering the nuances of each program - there's certainly much to stay on top of and I can see how it's easy to make a mistake. Lesson: Get it all in writing!

    Leave a comment:


  • Question: Are my loans eligible for PAYE? I think I'm stuck with IBR or REPAYE.

    Hey all!

    I can't seem to get a clear answer on this even when speaking to customer service reps at my loan servicer, FedLoan. I took out my very first federal student loans for graduate school that disbursed in January, 2010 - I've had no prior federal student loans before that date. I'll need continue to borrow more federal student loans for at least a few more years for medical school. Upon completion, I want to do PAYE with the aim of going for PSLF. Further, here is language on the studentaid.ed.gov website which confuses me: "to qualify for the PAYE Plan you must also be a new borrower as of Oct. 1, 2007, and must have received a disbursement of a Direct Loan on or after Oct. 1, 2011. You're a new borrower if you had no outstanding balance on a Direct Loan or FFEL Program loan when you received a Direct Loan or FFEL Program loan on or after Oct. 1, 2007."

    Are my loans eligible for PAYE?
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