What To Know About Trump’s New Student Loan Forbearance Orders

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Income-driven repayment plans

Income-driven repayment plans or IDRs are something Lewis recommends borrowers looking into and seeing if they qualify for. These are designed for professionals in lower-salary jobs and, as the name suggests, base repayment terms on one’s income. There are four types of IDRs, and each one offers loan forgiveness after a certain number of qualifying payments, and will ensure that your monthly payments do not exceed a certain percentage of your income.

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