One of the best options in federal student loan repayment is called Income Based Repayment – IBR.  This student loan repayment plan offers a great deal of flexibility and is a repayment plan that qualifies for student loan forgiveness.  IBR is based on your income, poverty level and family size.  The income level  is limited to 15% of your discretionary income. There are a few concerns with the Income Based Repayment method such as negative amortization, changes if you get married and the impact if you go back to school.  It is a great method to stay current when you are not making the income you need to repay your student loans. There is a student loan repayment method called “Pay As You Earn” or PAYE.  You will need to evaluate each method to see how it fits your current financial situation.  With both of these methods you need to re-apply each year based on your income tax return. As stated above due to the current economy and the increase in student loan debt this option may be the perfect solution to maintaining good credit and staying current with your federal student loan repayment plan. The video of the income based repayment – IBR plan includes:

  • Reason to consider the Income Based Repayment Method (IBR)
  • Factors in the Income Based Repayment –  IBR calculation
  • Advantages of the Income Based Repayment plan
  • Marriage impact on IBR



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