Income-Based Repayment: Ultimate Guide

Introduced in 2009, the Income-Based Repayment (IBR) plan adjusts your student loan payments to 10% or 15% of your discretionary income, depending on when you borrowed. If you’re not bringing in any income, your payment could be as low as $0 per month on IBR (score!). Read on to learn exactly how the IBR plan […]

Revised Pay As You Earn: Easy Guide

Introduced in 2015, the Revised Pay As You Earn plan was designed to make its predecessor, the Pay As You Earn plan, accessible to more borrowers. Anyone can apply for the Revised Pay As You Earn repayment plan (except for parent borrowers). It usually doesn’t matter when you borrowed or what your income is — […]

Pay As You Earn: What You Need to Know

Introduced in 2012, Pay As You Earn is one of four income-driven repayment plans for student loans that can lower your monthly payments. In fact, it caps payments at 10% of your discretionary income while extending your terms to 20 years. If you still have a balance after this time, it will be forgiven. But […]

Revised Pay As You Earn vs. Pay As You Earn: Which Is Better?

Pay As You Earn, along with its newer cousin Revised Pay As You Earn, is an income-driven repayment plan for student loans that adjusts your payment to 10% of your discretionary income. While both PAYE and REPAYE can help you get relief on your student loans, each works a little differently. Read on for a […]

How to Change Your Student Loan Servicer

If you’ve had a bad experience with your loan servicer, you might be wondering how to change student loan servicers. Fortunately, there are a few ways to switch student loan servicers if you’re eager for a new entity to handle your student loans. Here’s how. How to change student loan servicers Consolidate your student loans […]

What Is a Grace Period (When Referring to Student Loans)?

When referring to student loans, what is a grace period? Well, a grace period is a time when you don’t have to make payments on your student loans. It typically lasts the whole time you’re enrolled in school and for six months afterward. Let’s take a closer look at the grace period for student loans […]

How to Start Paying Off $50,000 in Student Loans the Right Way

If you’re paying off $50,000 in student loans or more, managing your debt might feel overwhelming or downright impossible. Fortunately, there are ways to pay off $50,000 in student loans without losing your mind. These strategies might even help you get out of debt ahead of schedule. Do the math on paying off $50,000 in […]

How to Get Student Loan Cosigner Release

Adding a cosigner to your student loan application can help you meet a lender’s requirements for income and credit and snag the best rates. But since your cosigner becomes just as responsible for the debt as you are, you might be eager to release them from the loan. Fortunately, some lenders offer student loan cosigner […]

Ultimate Guide to Income-Driven Repayment Plans for Your Student Loans 

If you’re struggling to keep up with student loan payments, you might be able to lower them with an income-driven repayment plan. Federal Student Aid offers four main income-driven repayment plans for federal student loans (private student loans aren’t eligible). Read on to learn how these plans work, what it takes to apply, and how […]

3 Reasons to Choose a Variable Rate Student Loan

Whether you’re borrowing a new loan or refinancing existing student debt, you’ll have the chance to choose between a fixed and variable rate student loan. Both rate types have their pros and cons, but here we’ll focus on the reasons to consider a variable rate student loan. If any of these apply to you, a […]