Income-Based Repayment (IBR) is one of four income-driven plans offered by the U.S. Department of Education. These plans calculate your monthly student loan payments based on your annual income and ...

IBR borrowers who took their initial loans out before July 1, 2014, however, may have a payment based on 15% instead of 10% of income. The timeline for forgiveness is another difference.

The income-driven plan known as SAVE has reduced payments for millions of borrowers. Lawsuits by Republican-led states are seeking to upend it.

Parent PLUS loans have a fixed, flat interest rate that isn’t based on your credit (however, you may not qualify with adverse credit). For the 2023-24 school year, the interest rate is 8.05%. In ...

Biden’s relief measures and proposals are good news for borrowers — if you can figure out their looming deadlines and complexity.

Two highly significant student loan forgiveness application deadlines are rapidly approaching. Some borrowers should take certain steps by April 30th.

Student loan debt is causing borrowers to put financial goals on hold, even as expanded forgiveness and repayment options offer help to some.

Mr. Biden’s SAVE plans cap monthly payments at 5% of discretionary income, waive unpaid interest that accrues, and forgive remaining balances after 10 to 20 years. Discretionary income is defined as ...

This round of Biden's student loan forgiveness proposals targets the interest that adds up over time on student loans.

Enrolling in a SAVE income-driven repayment plan can lower your monthly student loan payment and put you one step closer to debt relief.

Whether this new student loan debt relief plan will be passed is unclear. Until then, Kantrowitz recommends signing up for autopay to ensure you don’t miss any payments. You may also qualify for a ...