Many federal student education loans meet the criteria for a minumum of one repayment plan that is income-driven. In the event the earnings is low sufficient, your payment could possibly be as little as $0 each month.
Income-Driven Repayment Plans
An income-driven payment plan sets your monthly education loan re re payment at a quantity that is designed to be affordable according to your revenue and household size. В you can expect four income-driven payment plans:
- Revised Pay While You Earn Repayment Plan (REPAYE Plan)
- Pay While You Earn Repayment Arrange (PAYE Plan)
- Income-Based Repayment Plan (IBR Plan)
- Income-Contingent Repayment Plan (ICR Plan)