"Lenders will look at how much a borrower makes, note how far above the poverty line it is and adjust the payments accordingly. If the result is below the standard repayment plan, then borrowers are given the option to pay less. If they stick with the plan for 25 years, any remaining debt (both principal and interest) is automatically forgiven. For those who work full-time at a nonprofit or public-service job, the remaining debt is forgiven after only 10 years."
Income-Based Repayment (IBR) for Student Loans
Reviewed by Pisstol Aer
Published :
Rating : 4.5
Published :
Rating : 4.5