<p>watsonfan:</p>
<p>There’s a good thread here: <a href=“http://talk.collegeconfidential.com/law-school/1068036-why-people-complaining-about-crushing-debt-when-theres-ibr.html[/url]”>http://talk.collegeconfidential.com/law-school/1068036-why-people-complaining-about-crushing-debt-when-theres-ibr.html</a> that discuses the pros and cons of IBR. I’d recommend taking a look at it. Some cons include a possible tax impact when your loans are forgiven, difficulty explaining IBR to external lenders (ie, if within 10 years, you want to buy a home, being on IBR may be a red flag), etc. The pros obviously are that you pay in proportion to your income and have your debt forgiven.</p>
<p>If you are very unsure about the money, would it be possible to defer Harvard a year, work and save some, and enter in a better financial position?</p>