![]() ICR has a 20% discretionary income formula, IBR has a 15% formula, and PAYE and REPAYE have a 10% formula. More affordable repayment formula: Current IDR plans base the monthly payments off of a percentage of the borrower’s discretionary income - the amount of AGI above the poverty exclusion.It also means that borrowers with higher incomes would pay less than under other IDR plans, since a larger portion of their income would be excluded. ![]() ![]() That means more borrowers will not have to pay anything on their student loans under the plan - including borrowers who make up to $15/hour, according to the White House.
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