An income-driven repayment plan can lower your federal student loan payment and open the door to various loan forgiveness programs. But with so many changes to federal loan plans and the chaos of life, some borrowers might not know which IDR plan they’re currently making payments on.

Depending on which IDR plan you’re enrolled in, your monthly payment will generally be capped at 10% to 20% of your discretionary income. So, it’s important to verify your income-driven repayment plan and take steps to enroll or switch plans, if needed.

Here's how to verify your IDR plan: [ Ссылка ]

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Legal: Student Loan Planner is a financial coaching company and does not claim to provide financial advice on investment products. Refinancing federal loans causes the borrower to lose access to income-based repayment plans as well as the PSLF program. We may earn compensation from advertising partners when you click on links on our site. Student Loan Planner is not a debt settlement or debt relief company. We do not provide tax or legal advice.

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