Should I stay in forbearance?
Hi everyone, I’m in need of some advice. I have one $22,110 federal loan with 6.6% interest rate. I originally took out $20,500 and it has accrued interest. I graduated in May 2020 so I’ve been in forbearance the whole time. I’ve made over $1000 in payments yet my balance is nearly $2000 higher than my original balance and I don’t know what to do. I’m still enrolled in the SAVE plan and in forbearance but I don’t want to continue accruing interest like this. Should I make voluntary payments or enroll in an income-driven repayment plan? I make about $65,000 and live alone so I can’t afford to pay much per month.
Posted Sep 5, 2026, 3:57 PM UTC
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