Category - Student Loans

Congratulations on graduating! Now it’s time to start repaying your student loans. If you have a Federal student loan, you have options for repayment that I went over in a related article. This article will go in-depth on Income driven repayment plans so if this is the road you decide to take to pay back your student loan, you will know enough to make good decisions. There are four income-driven repayment plans available to help you pay back your student loans. The Four Types Of Income-Driven Repayment Plans: Revised Pay As You Earn Repayment Plan (REPAYE Plan) Pay As You Earn Repayment Plan (PAYE Plan) Income-Based Repayment Plan (IBR Plan) Income-Contingent Repayment Plan (ICR Plan) If you’re struggling to make payments on your student loans, then you might want to check out...

Federal student loan debt is money that is owed to the federal government in the form of student loans. As of June 30, 2020, the total amount of outstanding federal student loan debt was more than $1.6 trillion dollars. This figure includes both Direct Loans and FFELP (Federal Family Education Loan Program) loans, which make up roughly half of the student loan market. These numbers don’t include private student loans, which represent another $1.5 trillion in outstanding debt. Most student loans  (about 92%)  are owned by the government, according to a July 2021 report by MeasureOne, an educational data firm. This includes both federally backed and privately held loans. As of June 30, 2020, total federal student loan borrowers numbered 43 million, up from 39 million a year earlier...