can make student loan payments more affordable if you have a low to moderate income. An IDR plan sets your monthly dues at an amount you can afford based on your income and family size. After you complete the repayment term, any remaining loan balance can be forgiven.
The lesser of: 20% of discretionary income, or what you’d pay with a fixed payment over 12 years, adjusted according to incomeIn addition to the IDR plans discussed above, federal loan borrowers may also choose from Graduated or Extended Repayment. Both of these plans provide additional flexibility when it comes to your payments., you start with lower monthly payments that gradually increase every two years.
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