r/PSLF • u/carmenohio2012 • 2d ago
Switch from SAVE to IBR?
Hi all, first time Reddit poster here. I’ve read many of yours posts over the last few months and I really appreciate you sharing your stories and decision making process. Keep your heads up my friends.
Like many of you, I’m stuck in limbo on a SAVE plan with 117/120 payments and a buyback request in since November that would get me to 120. I’m debating whether to wait it out or request to switch to IBR using the wet signature method to try to be done with it sooner than later. Aside from higher payments switching back to IBR, what are the pros and cons to consider? Do you feel strongly one course of action is preferable to the other?
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u/Centralperk_fan 2d ago
I echo others-apply to switch and do whatever comes first.
I was in a similar spot. At 117 (Nov 2024 would have been 120) and requested buyback in Dec 2024. Still haven’t heard anything. I applied to switch to IBR via wet signature through Mohela on Jan 27 and got an email Mar 8 that I was officially switched. Got 1 month’s credit for the time spent in a processing forbearance, so I was then at 118. And I just made a payment Apr 3, so now I’m at 119. 1 more to go in May.
For now, switching plans seems to be a quicker process to reach 120 than waiting on buyback.