Sentences with phrase «cap payments on all federal student loans»
Not exact matches
If you are a new borrower on or after July 1 of 2014 who has no balance on a previous federal student loan, your loan payments will be capped at a maximum of 10 percent of what the government calls your discretionary income, the difference between your income and 150 percent of the poverty guideline for your family size and the state in which you live.
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If you find that your monthly payment is too high, you may apply for an income based student loan repayment plan, which caps federal loan payments based on your income.