u/Credit-UnConscious

I am certainly not complaining but I see some of these IBR payments people are being forced into and can’t help but wonder why mine is so low.

Original balance: $35k
Current balance: $12k
AGI (Family of 3): $160k

Payment on SAVE: $160
Submitted recent IBR application and payment was reduced to $115, however the StudentAid website shows it as an ICR (“Contingent” instead of “Based”) plan?

Edited to add: federal student loans at approx 3.50 rate.

Is it due to the remaining balance being lower than most?

I’ve debated paying off but I have approximately 240 months of payments made to date and may qualify for forgiveness with more balance remaining at 300 months than interest I’d save by paying off now.