Almost all student loans are eligible for at least once
income driven repayment plan. If your income is low
your payment could be as low as
$0 per month. This is also called loan forgiveness
program but there are certain conditions to it.
However if you have a good loan
documentation expert than you can heavily reduce
the repayment amount or even bring down to zero.
Revised Pay as you earn repayment program
Pay as your earn repayment program
Income based repayment plan
Income contingent repayment plan
The Revised Pay As You Earn (REPAYE)
Repayment Plan helps make student loan
payments more affordable. This plan is available
only to borrowers with Department of Education-
owned loans (account number starts with an E)
disbursed under the Federal Direct Loan Program
The REPAYE Repayment Plan caps regular
monthly payments at 10% of your discretionary
income or, if married, 10% of your combined
The Pay As You Earn Repayment Plan or PAYE is
a lesser known Loan Repayment program that
was passed by President Obama on December
21st 2012, and was his first piece of legislation to
assist those with federal student loans.
Currently, PAYE only applies to federal student
loans that were disbursed on or after the Oct.
1, 2007 and you must not have had a balance on a
Direct Loan or FFEL loan when you received the
loan after Oct. 1st, 2007.
Income-Based Repayment (IBR) is the most
widely available income-drivenrepayment (IDR)
plan for federal student loans that has been
available since 2009.Income-
driven repayment plans can help borrowers keep
their loan payments affordable with payment
caps based on their income and family size.
The Income Contingent Repayment (ICR) plan is
designed to make repaying education loans easier
for students who intend to pursue jobs with lower
salaries, such as careers in public service. It does
this by pegging the monthly payments to the
borrower's income, family size, and total amount