Need help choosing a student loan payment Vol. It's about that time

[gregbutler20]

I just finished school on the 21st of may and I am already getting payment deadline letters from the government. I have 23,000 to pay back and I'm not feeling the 265 per month payments. I'm only doing 38K a year with my current job. I thinking of going for the ICR (Income-contingent repayment) or IBR repayment plans, since they appear to offer better terms.  So far my student loans are my only debt and I'm thinking about going for the ICR. Anybody using these plans wanna chime in?

 

[crcballer55]

Forget the payment plans and pay them off with everything you have for the next two years. You don't want to be like the guys on here that let their debt hang around. Take advantage of your salary, get rid of them, then build wealth.Sacrificing now will pay huge dividends later.

 

[ryair max 1]

23K is not bad at all, especially with your salary considering a few things. I'd say screw a plan, go payment crazy and double your minimum amount for a year. You could then maybe refinance or something down the line for a lower payment.