RSS Feed  RSS
  Under this part of the IBR  plan, your repayment period could be capped at 10 years.


Vote
Bury
1
Your income and family size are used to determine your monthly repayment amount.   In other words, your federal student loans would be absolved and considered repaid, regardless of whether the loans were actually repaid in full or not.   But you may still be eligible for partial forgiveness on your student loans even if you don’t hold a public service job. IBR is not available, however, for federal parent loans (PLUS loans) or for consolidation loans that included a parent PLUS loan in the consolidation. A public service job may qualify you for a shorter repayment period and partial loan forgiveness.   Under this part of the IBR  plan, your repayment period could be capped at 10 years.     The Public Service Student Loan Forgiveness Program   If you’re making reduced student loan payments under the IBR plan and you also happen to work in the nonprofit or public service sector, you may qualify for an additional benefit, the public service loan forgiveness program. Earlier this year, the U.S. Department of Education rolled out a new repayment option for student loan borrowers that could significantly reduce the monthly payments on your federal student loans. Multiply by 15% — the resulting number is how much you would be expected to pay on your student loans over the course of a year. After 25 years, if you’ve been making IBR student loan payments for those years and you meet certain other requirements, any remaining balance on your student loans may be cancelled.
Discuss  |  Bury | 
Tags: grad plus student loan All

Who Voted for this Story   Under this part of the IBR  plan, your repayment period could be capped at 10 years.


Shopping in   Under this part of the IBR  plan, your repayment period could be capped at 10 years. Deal of the day at Amazon.com