Forbearance & IBR

The Public Service Loan Forgiveness (PSLF) and Income-Based Repayment (IBR) programs can offer thousands of dollars of student loan relief.
 
In many cases, AmeriCorps members might opt not to place their loans under national service forbearance, choosing Income-Based Repayment instead.
 
Are there scenarios when it's better to opt for the existing student loan forbearance? Yes!
 
If you don't intend to work in the public sector, then the PSLF program is not for you. And if you participate in the IBR program for just a few years, you'll have to cover the interest that accumulated while your payments were low later on down the road. If these factors affect you, you should strongly consider accepting the traditional national service forbearance plan. (Forbearance will pay down the interest that accumulates while you serve after you successfully complete your term.)

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