I recently signed both my wife and I up for the new SAVE IDR plan for our student loans. This put our total monthly payment from $350 to $0... I am eligible for PSLF so my loans (about $24k) will be forgiven around 2029. My wife's loans (about $4k) will be forgiven about 2042. I realize that as our household income increases that could also increase our monthly payments. But, the balances won't increase since the government pays any interest while on the SAVE plan.
Are there any pitfalls with us "paying" this insane minimum and then letting the balance get forgiven? It feels weird paying nothing on almost $30k and then its just "gone" after a certain date. My spidey sense says this is a "too good to be true" type of situation.
EDIT: MOHELA confirmed that the monthly payment for my loans will be $0. I may still make payments on my wife's loans since the balance is relatively small and forgiveness will take much longer than mine. I am very happy with my government job so I will definitely be working here at least until 2030 when my loans are forgiven.