Below you'll find a list of all posts that have been tagged as “PAYE”
Many borrowers find choosing between PAYE and REPAYE challenging. Pay As You Earn (PAYE) and Revised Pay As You Earn (REPAYE) don’t merely sound similar — many of the key terms of these plans are identical. However, despite the many similarities, there are times when one repayment plan is significantly …
When it comes time to pay back your student loans, you will discover a variety of federal repayment plans. To complicate matters, you won’t find an option that stands out as the best. Some work great in certain circumstances, while others excel under different conditions. Selecting the best repayment plan …
Many student loan borrowers are torn between saving for retirement and paying down their student loans. Student loan borrowers often assume that you can only pursue one of these goals at a time. After all, every dollar you put towards retirement is a dollar you can’t use to pay down …
For independent contractors and 1099 workers, it might appear to be difficult to calculate monthly student loan payments for income-driven repayment (IDR) plans such as IBR, PAYE, and REPAYE. How does the government factor in monthly expenses and the fact that some months are much higher paying than others? Surprisingly, …
Unexpected costs are everywhere with student loans. Interest grows every day, and one mistake can mean getting hit with late fees. One mistake that can cost thousands of dollars comes with Income-Driven Repayment (IDR) plans like Income-Based Repayment (IBR) and Pay As You Earn (PAYE) re-certifications. That statement is worth …
Over the last few days, I’ve received several questions about IBR, and other income-driven plans such as REPAYE and Pay As You Earn. It seems there is a ton of confusion about calculating income-driven payments with spouses who each have student loans. Many couples fear that if they get married, …
There are a variety of federal student loan repayment plans, all with unique pros and cons, but the one that is undoubtedly the worst is the standard 10-year repayment plan. Borrowers on the standard repayment plan sacrifice flexibility, have no route to forgiveness, face larger monthly payments, and limit their …
At first glance, the decision is easy: student loan forgiveness on an IDR plan is obviously better than repaying the debt in full, even if forgiveness takes 20 years. Upon closer reflection, things are not so obvious. Twenty years of living with debt is a long time. Between taxes and …
Under the right circumstances, IBR, PAYE, or REPAYE might be the best Income-Driven Repayment (IDR) Plan. Deciding which IDR plan is the best option will depend upon many different factors. Marital status, loan age, tax strategy, and loan type all impact which choice will have the lowest payment. Today I …
When one thinks about wedded bliss, many happy thoughts come to mind. To the super frugal, one of the benefits of marriage is the tax advantages. However, for anyone with student loans who is planning on getting married or already married, it is important to think about your student loans. …
