When I started repaying my loans (around $180k) almost 6 years ago, I barely made $36,000, and IBR was a godsend.  I’m still under IBR and make in the low 100’s (still working for the gov’t so planning on taking advantage of PSLF), and my payments are nearly $1,000/month with a current balance in the low 200s.  PAYE would obviously lower this substantially…will President Obama’s expansion of PAYE allow me to switch from IBR into PAYE despite my higher income later this year when PAYE is expanded?

I thought that PAYE was not actually expanded to older loans yet.  I would like to know if it was though.  Is that on a negative amortization?

As I understand it, it was expanded via executive memorandum/order, but the Department of Education wouldn’t be able to enroll older loans into PAYE until December 2015.  I’m just curious if I’ll be able to enroll into PAYE once that option is available for older loans.