The changes could reduce some of them to zero. The plan calculates monthly payments based on a borrower's discretionary income. The Education Department this month introduced new regulations that would amend the terms of an income-driven repayment (IDR) plan known as Revised Pay as You Earn, or REPAYE. With the focus of many student loan borrowers on the court challenges against President Joe Biden's broad-based forgiveness plan, the administration is working on a separate proposal that could dramatically reduce payments. By clicking ‘Sign up’, you agree to receive marketing emails from InsiderĪs well as other partner offers and accept our
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