This is a really hard question to answer. Ultimately, I can’t say for certain what will happen.

However, I can share my thoughts as a SAVE borrower.

I’m cautiously optimistic that it will exist in some form moving forward. There are a lot of hoops to jump through for an adminstration to create new repayment plan, but to eliminate one is even more complicated. You may notice that there are a long list of repayment plans now available. We keep adding to it without ever subtracting one. Additionally, I think SAVE becomes even more difficult to eliminate once language gets added to the master promisory note (as of the last time I looked, it isn’t in there yet).

It will depend on a couple of factors. The big quesiton is whether or not you recieve a SAVE subsidy. This calculator will help you answer that question. If you do qualify for a subsidy, it will help you pay off the debt more efficiently.

The next consideration is how much extra you can afford to pay and your repayment strategy. Generally speaking, the more you pay each month, the faster your debt gets eliminated and the less you spend on interest. However, it is worth noting that you can pay extra no matter what repayment plan you are on. Thus, you could opt for the plan with the lowest monthly payment to give yourself flexibility and then use whatever extra funds are available to attack the highest interest loans.

If you ONLY have undergrad loans, SAVE would get you there in 20 years, where your IBR plan would take a total of 25 years. Additionally, SAVE offers a subsidy that would prevent your balance from growing any higher.

I’d encourage you to run the numbers. See how much it will cost for 13 years of PAYE and compare it to the cost of 18 years of SAVE. This is one of those situation where there really isn’t a simple answer. However, if you have some level of confidence about your income over the next decade or so, it can take away some of the guesswork.

Where did you get the summary loan forgiveness date? I ask because many of the federal tools assume you are starting fresh when you pick a repayment plan, even though you will have credit for previous payments. For example, the Loan Simulator on studentaid.gov often gets this wrong.

Switching IDR plans shouldn’t restart your progress toward IDR forgiveness.

Borrowers can always pay extra toward their student loans without a penalty.

However, if you qualify for the SAVE subsidy, paying extra might not be the best strategy.