You can always nip off some of your bumper and even shim it out with some fat washers. I did mine years ago and it's been more than enough to fit 35s. Your problem was more the width of the tires than the height. I now have 35" ProComp Xtreme ATs which are actually 36" and they don't rub.
a 295 is going to be pretty close to the same height as a 305, the width being the biggest difference (305 wider). A 295 looks better IMO on a stock 7" wide wheel, but if you have an 8"-10" wide wheel the 305 will look better IMO.
I currently have nitto Terra grapplers in 295/75R16 with no rubbing. Suspention is stock. But they're not a common size, so my next set will be a 285. With a 295 your very limited on what brand you can get.
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