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 individual’s income and family size. This is a great program especially for new graduates and struggling individuals […]
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 itself. If Ferguson’s plan to change the current programs are passed, student loans should still be paid […]
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 also parents who took out loans for their kids. Even those who cosigned the loan. […]
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 excellent student loan repayment program is necessary, but you also have to be smart. This list will help you […]
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 discretionary income has to do with it. Here is what you need to know. Discretionary Income: Repaying Student Loans […]
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 income. Learn more about income-based repayment through the 13 facts discussed below: (Did You Know? There’s plenty of […]
