student loans

I do not have direct experience with this, myself. I do have experience with a mortgage and know some general things. I think that if you can afford to pay the ten year payoff amount, it would be smart to do so, but, many people cannot at this time. I would say to use this program only as long as you need to, and then switch as soon as you possibly can. Another practice that applies to mortgages, and other loans is to make extra payments on the principle of the loan any time you can. If you have some kind of windfall, or even, say, if you get a raise. The more you pay on the principle early on, the greater impact the extra payments will have on your loan. I guess I would say that if you need to be on IBR, go ahead and do it, but as soon as possible go back to a regular schedule.