According to 2022 Department of Education data, about 9 million borrowers out of the approximately 43 million total use an income driven repayment plan (IDR). Under the Biden IDR plan, it is almost …
Why Most Undergrad Borrowers Would Pursue Forgiveness Under the Biden IDR Plan
Until now, Income Driven Repayment (IDR) plans have required borrowers to pay 10% of their discretionary income, which is generally defined as all taxable income above 150% of the poverty line. The …
How an IDR Plan Offers Valuable Loan Forgiveness
As of writing, 8.7 million borrowers are enrolled in an income-driven repayment (IDR) plan, according to the US Department of Education. The reasons are hardly shocking. For one, borrowers are …
Education Department Updates Guidance on New Changes to PSLF and Income-Driven Repayment
In April 2022, the Biden administration announced sweeping, temporary changes to income-driven repayment (IDR) programs for federal student loan borrowers. The changes will dramatically expand what …
Strategies to Get Student Loan Forgiveness After 25 Years
One of the concerns that many student loan borrowers have is the fact that they might never pay down their Direct Loans. However, there are various ways to obtain forgiveness on your …
How Biden’s Huge Changes to Income-Driven Repayment Benefits Borrowers Seeking PSLF
Last month, the Biden administration announced massive, historic fixes to income-driven repayment (IDR) programs for federal student loan borrowers. According to the Department of Education, these …