Should I Wait for Biden’s New 5% IDR Plan?
In most cases, waiting for the newest IDR repayment plan to be available is a mistake. Delays offer few advantages and come with significant disadvantages.
In most cases, waiting for the newest IDR repayment plan to be available is a mistake. Delays offer few advantages and come with significant disadvantages.
40,000 borrowers are about to get their remaining student loan balance forgiven, and millions more will move closer to IDR loan forgiveness.
Between temporary programs and alternative calculations, it isn’t easy to identify all of the repayment plans eligible for PSLF.
With some temporary federal student loans programs over, or nearly complete, borrowers have to track several different moving targets.
There is a lot to like about the proposed new IDR plan, but a closer inspection shows some room for improvement.
Borrowers have many reasons for optimism about life with student loans in 2023.
Changes in monthly IDR bills are common. Several different possibilities could explain the increase.
The Department of Education is giving borrowers a ton of flexibility, which means savvy borrowers have options to save some money.
IDR plans have a ton of borrower-friendly features, including student loan forgiveness. However, they have some flaws that all borrowers should understand.