One advantage of having federal student loans is the wide array of relief programs available, like the Income-Based Repayment (IBR) Plan. It is a government program which grants borrowers a chance to lower their monthly payment based on an … [Read more...] about Income Based Repayment FAQs
Student Loan Repayment Plans
“Help Students Repay Act” To Implement Changes on Student Loan Repayment Programs
Congressman Ferguson wants major changes for student loan repayment programs. At present, borrowers are paying their student loans under the five current income-driven plans. This may go for to 20 to 25 years, depending on the repayment plan … [Read more...] about “Help Students Repay Act” To Implement Changes on Student Loan Repayment Programs
What is Wage Garnishment for Student Loans and How Does It Affect Your Finances?
Wage garnishment is a legal procedure to pay off debt by withholding a person’s salary. Both federal loans and private lending companies have the right to conduct wage garnishments. In fact, students aren’t the only ones that are affected, but … [Read more...] about What is Wage Garnishment for Student Loans and How Does It Affect Your Finances?
Which Student Loan Repayment Plan Should I Choose: Finding The Best Repayment Option According to Your Budget
The right student loan repayment plan is essential for every borrower. Knowing the difference among these repayment plans is, therefore, the key to a debt-free life. Moreover, you need to be equipped with knowledge and tips. An … [Read more...] about Which Student Loan Repayment Plan Should I Choose: Finding The Best Repayment Option According to Your Budget
How Discretionary Income Affects Your Student Loan Payments
Discretionary income is a significant factor when managing student loan payments. However, not everyone knows the exact nature of the relationship between the two. Any borrower who aims to handle payments successfully has to understand what … [Read more...] about How Discretionary Income Affects Your Student Loan Payments
13 Facts About Income-Based Repayment: A Complete Guide
One of the repayment options available to those with student loan debt is the income-based repayment (IBR) plan. This strategy helps borrowers make their payments affordable by adjusting the payment caps according to the family size and … [Read more...] about 13 Facts About Income-Based Repayment: A Complete Guide
