I'm a relatively new attending physician with ~$370,000 of loans. There is no accrued interest due to the long pause during COVID. During the last month, as well as throughout my fellowship last year, I've been saving up in anticipation of loan payments restarting. I currently work for a small group, so am not eligible for PSLF (although I do have 4 years of qualifying payments). I've got ~$17,000 saved to put towards loans, which I'm currently keeping in a savings account with an interest rate of 4.25%.

I'm trying to figure out how best utilize the new SAVE program. As I understand it, any interest that is not covered by a payment is forgiven. Currently, due to the fact that I last made a payment on my loans when my income was next to nothing (first year of residency), my required payment is $0, and based on my review of the MOHELA website, it will stay that way until ~March of 2024 when I have to re-certify my income (at which point it will likely increase to a number that is higher than the accrued monthly income).

So my main question is how to approach paying loans vs saving up to make a large chunk payment. Here's the options that I have figured out:

1. Pay the $17,000 I have saved up now to decrease the principal, and then make payments as I normally would to try to just get rid of the loans, and not worry about the SAVE program.
2. Save the money until march, and continue making $0 "payments" so that my loans essentially continue to not accumulate interest and once I have to re-certify, then throw all the money I have at the loans.

I'm more just looking for someone to help make sure that I'm understanding how the SAVE program works correctly.

Thanks in advance