I have been paying my student loans for ~6 years now and have always been on IBR paying $478 per month. My current loan balance is at $50,708 with an interest rate of 4.625%. In the new year, my payment will jump to $592, while I can afford this, I was poking around at repayment options and saw that my standard repayment is $306. Aside from paying less interest and completing payments sooner, what would stop someone from switching to standard repayment? This would free up $386 every month and give me more breathing room to max out my 401k and pay down my private student loan at a faster rate ($17,350 with an interest rate of 3.47%). Is this a bad idea? If my calculations are right, I would pay off the loan under IBR before meeting the 300 qualified payments anyway.

Edit: $286, not $386!! Also want to add I do not qualify for PSLF