7 Reasons IDR Payment Calculations Are Unfair
Income-driven repayment is supposed to keep monthly payments affordable for all borrowers, but IDR plans help some borrowers more than others.
Income-driven repayment is supposed to keep monthly payments affordable for all borrowers, but IDR plans help some borrowers more than others.
Monthly payment calculations on income-driven repayment plans get especially complicated for borrowers living in community property states.
Paying extra on IDR plans like IBR, PAYE and REPAYE is a risky choice for many student loan borrowers, especially those chasing student loan forgiveness.
There are many different federal repayment plans and each option comes with unique advantages and disadvantages.
Some advanced student loan repayment strategies allow borrowers to eliminate student debt and contribute to retirement accounts like a 401(k) or IRA.
If you are a 1099 worker or run a business, IDR calculations might seem complicated or potentially unfair, but there are ways to work the numbers in your favor.
IBR and IBR for New Borrowers sound similar, but the two plans have different monthly payments and different rules for student loan forgiveness.
Capitalization of interest on IBR, PAYE, and REPAYE makes failing to re-certify on time a costly error.
Getting married doesn’t mean payments will double for couples who both have student loans, but payments may still go up.