PSLF payment 115/120 and recertification looming. What to do?
Hi! Decided to post my question here before I pay a lawyer for a consultation. Please help!
I have no clue what to do for the next few months. I’ve been in the PAYE plan since COVID, and I’m on payment 115/120 for PSLF. My plan was to stay in the PAYE plan until October, when I’m eligible for loan forgiveness.
Recently, I received a letter from my loan servicer telling me I need to recertify by June 19 and if I don’t, my payment will increase to 3x the current amount. I’m not sure what to do and wanted to know if anyone else has been in this situation. I’m thinking I could:
1: Not recertify at all and automatically be enrolled in whatever program they select. But, if I don’t fill out any paperwork to recertify, how do I ensure I'll be placed in a PSLF-eligible plan? OR
2 Recertify. But when? Should I pay my June payment (due on June 24) early and wait until the day before June 19th to submit my recert paperwork? Or could waiting have an impact on my July payment (I’ve seen folks write things about being put in forbearance and payments not counting, but Idk if that would apply to my situation).
3: Should I just recertify ASAP and find a way to pay the much higher new payment?
I don’t want to do anything to delay my October PSLF date, so I’m wondering what makes the most sense. My other fear is since I’m making more than 2x more than what I made the last time I recertified, that if I do recertify, my new payment will actually be higher. I should also mention that I also got married and had a baby since 2020. Not sure if that has an impact on payments.
Also, I’m not eligible for any buybacks. Let me know what yall think and thank you in advance 😄