Trouble calculating my monthly payment for PSLF
Hi friends.
So. I owe a lot. I am on PAYE and going for PSLF. I have had $0 payments for almost 3 years, but I need to recertify soon and I am wondering what my monthly payment will be, but that loan simulator doesn't consider PSLF in its calculations. Or, maybe I am just confused. Can anyone help me?
I owe about 227,000. My income is about 140,000/year. I thought that my payments would never be over what the Standard 10 year repayment plan monthly payment would have been. But, how is that calculated? Does it include interest? My original loan cost was 196,000. What ever was my monthly standard 10-year payment? I was under the impression that was something that could not change. Does the monthly payment change?
Also, did I make a mistake by not making payments when my payments were at $0? I am hoping to keep my future monthly payments around 2k, but is that even possible? Loan simulator shows it as being about 3500.
Anyways thanks to anyone for any help!