Tagged with college cost reduction act in our Blog
Income Based Repayment (IBR) was enacted on July 1, 2009 as part of the College Cost Reduction Act. If you are a borrower experiencing financial hardship, have low income in comparison to your debt, or pursuing a career in public service IBR may benefit you. IBR is designed to make repaying the cost of your education easier for those pursuing careers with lower paying fields, such as public service. IBR caps the monthly payments based on the borrowers income and family size. Your monthly payments may change annually based on changes in family size or income. Single borrowers must have… Read more here!