Federal Student Loan Consulting

Repayment Plans, Programs, And Benefits /
Income-Based Repayment (IBR)

- Under this plan, any remaining principal and interest left unpaid, will be 'Forgiven,' by the U.S. Department of Education once you comeplete the designated term.

- Under this plan, your monthly payment amount will be based on your income to household size ratio. They will no longer be based on your student loan balance and/or associated interest rates

- Payments are recalculated each year and are based on your updated financial information. ('Recertification')

* Even if your income continues to increase, your monthly payment will never be more than the 10-year Standard Repayment Plan amount. Your monthly payments will be either 10 or 15 percent of discretionary income. 

(depending on when you received your first loans.)