5.9 Student Loans:  Repayment Income based

5.9 Student Loans: Repayment Income based

the third option is income based
repayment under this plan your maximum monthly payments will be 15
percent discretionary income monthly payment then increases or
decreases with your income levels for maximum
repayment time of twenty-five years this loan requires you to have partial
financial hardship and again will lower your monthly
payments but will increase the total cost of the loan. Other conditions may apply that can further complicate this type of repayment so it’s best to do some research based
on your own unique situation

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