re: Another paying student loans thread (IBR?)

quote:

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***My concern with overpaying on the suggested IBR is whether or not they will have a problem with us paying extra? Readjust payment amounts? ***

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you should be able to pay more than what they suggest without a problem. In fact it will probably be better to pay more if you can afford it.

From what I've read, most of the time the suggested IBR payment isn't enough to cover the accruing interest (the government will subsidize up to 3 years worth of accrued interest if your IBR payments don't meet or exceed accruing interest). This means that unless they are planning on going for the 25-year IBR payment discharge of debt, most people will owe more by the time they are finished with residency or whatever else and get a "real" job. Again that's if they are only paying the suggested IBR rate.