Sentences with phrase «under this repayment plan there»

Not exact matches

There is a major difference between the income - contingent and income - sensitive repayment plans and that is ICR deals with loans made under the William D. Ford Direct Loan program and ISR deals only with loans made under the Federal Family Education Loan program (FFEL).

There is generally an income eligibility for these plans in which your payment under one of these plans must be lower than what it would be under a standard repayment plan.

I'm confused at the part where you mention that under ibr there isn't a chance for forgiveness after the 25 years... i was just reading a document about all the repayment options and it said that under any of them there is a chance for forgiveness after the 20 - 25 years though the time can vary from plan to plan.

There are cases when a loan can be forgiven for making 20 years of payments under an income - driven repayment plan.

In fact, if you make all of the required 120 qualifying payments under the 10 - Year Standard Repayment Plan, there will be no remaining balance on your loans to be forgiven.

As opposed to PAYE, under this plan there is no cap on monthly payment amounts and a borrower could end up making payments that are greater than what would be required under a standard repayment plan.

However, there are no monthly payment caps under REPAYE, so your payments could end up much higher than they would on the Standard Repayment Plan.

Remember, under PSLF, both IBR and RePAYE count as qualifying repayment plans, so there isn't a problem there.

Is there a cap on the amount of debt that can be forgiven when paying under one of these repayment plans such as IBR or PAYE?

Although a chapter 13 debtor generally receives a discharge only after completing all payments required by the court - approved (i.e., «confirmed») repayment plan, there are some limited circumstances under which the debtor may request the court to grant a «hardship discharge» even though the debtor has failed to complete plan payments.

Under the full deferment payment plan, interest and principal will be deferred while you are in school, and for an additional grace period of up to six months (allowing for a combined maximum deferment of 32 months), after which there will be a ten - year (120 months) or fifteen - year (180 months) repayment period.

As it stands under current law, the remaining loan balance will be forgiven after 25 years of payments, so there's a good chance we won't have to repay in full (Income based repayment plan).