Secrets to Finally Crushing Student Loan Debt Forever
Income-Driven Repayment Plans
For those struggling to make payments, income-driven repayment plans can provide much-needed relief. These plans adjust your monthly payment based on your income and family size, often reducing payments significantly. Programs such as Income-Based Repayment (IBR) and Pay As You Earn (PAYE) can extend your repayment term to 20 or 25 years, after which any remaining balance may be forgiven3. While this can increase the total interest paid, it offers immediate relief and can prevent default.