Want more information about the income - driven repayment plans ?
yes
Explore our Questions and Answers page on Income Driven Plans
That's very intriguing, to say the least. I have a loan that is classified as FFEL Plus. Is that the kind of loan that qualifies for the lower payments?
It is. The Federal Family Education Loan Plus program is one of the types of loan under te reduced payments option.
And what about Unsubsidized Federal Stafford Loans? I have an acquaintance that has one of those.
Yes, is it eligible too.
The way to repay my loan under this plan is still on a monthly basis, right?
That's correct. The payments are still on a monthly base, but they increase or decrease based on your annual income and are valid for a maximum time period of ten years.
Do yo have more loans owned by U.S Department of Education?
Yeah, i have two of them.