New federal student loan thingy

[linettasky]

Starting July 1, there will be a new option for those who have federal student loans. It's called Income-Based Repayment, which sounds pretty self-explanatory. It also looks like, if the amount they calculate you as paying doesn't cover your interest payments, the government will pay your interest for the first three years that you take advantage

Comments

[keystricken]

I like the sound of this.

[ms_nico_blue]

I like this too. As I stand right now, it would only lower my payment by about $18 a month. But this would have been really helpful 2 years ago when I was making much less.

[linettasky]

Sam, if you head out and become a marriage & family counselor or licensed professional counselor, you can also become eligible for loan forgiveness by working for two years in an underserved community.

[ms_nico_blue]

Sweet!

[knittinggoddess]

that's pretty awesome, especially the part about the nonprofits!

[gorthx]

Wow, that sounds great! I also like the bit about working in the underserved communities.