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loan payoff with pslf

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  • loan payoff with pslf

    i have federal loans and am hoping for PSLF after 5 more years, has anyone paid off one of the individual loans through fedloans and if so does that place you in pay ahead status automatically? I was thinking of paying of the smallest 9k loan to reduce the balance a little, it gets a little daunting seeing interest on 300k increase by 20k every year, I know this is frowned upon due to not maximizing forgiveness but just curious

  • #2
    If you are nervous about the compounding interest, pay off all the loans.  The 9k loan is the least of your problems.  If you want PSLF, why would you pay off any of the loans?  that doesn't make sense

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    • #3
      Are you sure you have consolidated correctly where your payments count for PSLF?  I thought that once you consolidated you only had one loan with a blended interest rate.

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      • #4
        You should just stash the money in a side account if you're that worried. Just invest aggressively, assuming you probably won't need the cash for loans.

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