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Should I switch from ICR to IBR?

Posted 08 January 2013 09:25 PM

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I am currently using the ICR repayment plan and I believe I have now reached the 10% cap on capitalized interest.

That being the case, would it make any sense to switch to IBR if the payments are the same?

Seeing how I can’t really accrue any more interest I’m thinking it might be best to stick with ICR.

Any thoughts?

Posted 26 January 2013 07:44 PM #1

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Well, good question but it’s really going to depend you how much you owe, how much you earn, etc.

Posted 27 January 2013 09:57 PM #2

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Okay, let’s make this simpler.

If I switch from ICR to IBR will all the accrued interest I currently have be captialized?

I can’t get a clear answer on this from my loan servicer.

     

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