The Standard Repayment plan is the basic repayment plan for student loan borrowers to repay loans made under the Federal Direct Loan Program and the Federal Family Education Loan Program. A student loan borrower receives a 6-month grace period after they graduate or drop below part-time status as a student. After the grace period is […]
The Extended Repayment Plan is a student loan repayment plan that is offered to student loan borrowers through the Department of Education. The Extended Repayment Plan assists borrowers that can’t afford a Standard Repayment Plan by giving them a lower monthly payment. Since the monthly payment is lower, it will take the student loan borrower […]
The Department of Education offers a variety of student loan repayment plans that assist student loan borrowers with their unique financial situation. These repayment plans originated from the passing of the Health Care and Education Reconciliation Act of 2010. As part of the act, the Department of Education now offers a variety of student loan […]
Knowledge is power. Unfortunately, the right knowledge usually costs quite a bit. In fact, the average cost in the U.S. for a master’s degree is between $30,000 and $120,000. Fortunately, student loans exist to help you cover the cost of education. If you’re planning on pursuing further studies, it’s crucial to understand the basics of how graduate […]
The Department of Education offers a variety of student loan repayment plans that assist student loan borrowers with their unique financial situation. These repayment plans originated from the passing of the Health Care and Education Reconciliation Act of 2010. As part of the act, the Department of Education now offers a variety of student loan […]
An Income Contingent Repayment Plan (ICR) is a repayment plan that can help student loan borrowers get a more affordable monthly loan payment. The monthly payment is calculated by taking the lower amount of two calculation methods: Based on income and student loan debt Based on income alone The Income Contingent Repayment plan was created […]
