Question: what happens if i pay less than the minimum payment on student loans?
Answer: Submitting anything less than your income-based repayment (IBR) plan will trigger delinquency. So, if your minimum payment comes out to $490 per month, you're going to have a problem. ... After all, delinquency [1] starts the first day you miss a payment, and it's followed by potential fees and dings to your credit report.