Income Based Repayment

 Monthly Payment Based on Income

In 2011, Congress passed a law that would allow federal student loan borrowers to base their monthly payment on their income and family size rather than the size of the loan.

FORGIVENESS IS IN SIGHT!

If you have a federal student loan, you are probably on everyone's list to get you to sign up with them for hundreds of dollars. You will probably get the service they described to you, but their price point is way too costly.

Your monthly payment on a federal student loan is now based upon:

• Your income
• Your family size
• The size of  your loan

Most income-based repayment programs range between 15-25 years. Some can last only 10 years if you qualify.

It's worth a free consultation with me to determine how this could affect your loan.