IBR > RAP (pursuing PSLF)? Finishing fellowship, attending job starting September.
Hello, finally starting attending job this summer and I wanted to make sure my plan/thought process was correct for my goals:
5yr residency, 1yr fellowship -> all in forbearance
Pursuing PSLF, 50/120 qualified months (zero $ in payments)
340k at 6.4%
Salary 450k, job eligible for PSLF, and also offers 20k*5yrs in repayment
Received the SAVE discontinuation email in July. Was planning on riding out the forbearance period and sign up for IBR in September when I actually start the job.
My goal is to pay lowest total amount in loans. I liked IBR over RAP due to income cap, slightly lower monthly payment (3.5k vs 3.75k) and similar total amount paid. I was also hoping to buy back the forbearance months at the end of my PSLF term if it continues to exist at that time.
What do you all think, is this a sound plan? Should I just sign up for the IBR now? Thank you in advance!!