Have you decided that an income-driven repayment plan is what you want to proceed with?
Yes, that is my choice
In that case, you will need to choose the plan that will provide the most benefits to you which are based on your own personal circumstances
What does it mean when it says that I must be a new borrower to qualify for the PAYE Plan?
This means that you must have had no outstanding balance on a Direct Loan or FFEL Program loan when you received a Direct Loan or FFEL Program loan on or after Oct. 1 , 2007 , and you must have received a disbursement of a Direct Loan on or after Oct. 1 , 2011
Are there any implications if I don't recertify my income and family size by the annual deadline?
In this instance, any unpaid interest will be capitalized added to the principal balance of your loans. This will increase the total cost of your loans over time, because you will then pay interest on the increased loan principal balance
What do I do if it happens that an income-driven repayment plan is not right for me?
You are advised to contact your loan servicer to discuss other repayment options. In this instance you may be able to extend your repayment period through what is known as the Extended Repayment Plan. You may also be able to qualify for a temporary repayment suspension through a deferment or forbearance
What happens if I didn't recertify my family size by the annual deadline?