Question about income recertification
I am currently on the PAYE plan and haven’t had to recertify income for many years due to COVID and other forbearances. I received a letter stating I need to recertify income by 6/11/26. My payments will go up significantly as our income is 10x higher than it was when I initially got in the plan.
When is the latest I can safely push off recertifying to make sure they have enough time to process it? Should I just recertify now?
My other question is… our current HHI will likely be above what you would qualify for being on PAYE. However, my understanding is that if you are already on PAYE that they can not kick you off and that the most you would pay would be capped at the standard 10 year amount and that you would still remain on PAYE (and thus be on a qualifying plan for PSLF). Is this true? I have seen some posts saying that they recertified and their loan servicer told them they have to switch off PAYE to another IDR but I don’t think that should be allowed. Thoughts?
Thanks!