Hello! I am getting ready to consolidate 150K in student loans. My current salary is 50K and will increase to 70K in 8 months. While doing the consolidation calculator I was given the option to go into IBR. Does this mean I will not have to apply separately? When I apply for a mortgage will the IBR payment be the payment shown?

Also, will my IBR payment increase in 8 months with my salary, or not till 1 year when I redo paperwork?

IBR seems like a great program, I never even knew about :)

Thank you so much for any help!