You can calculate your discretionary income by taking your adjusted gross income and subtracting 150 % of
the poverty guideline amount.
The government generally uses the following process to determine your payment, ``... once the rehabilitation discussion has begun, initially considers a borrower's reasonable and affordable loan rehabilitation payment amount to equal 15 percent of the amount by which the borrower's Adjusted Gross Income (AGI) exceeds 150 percent of
the poverty guideline amount applicable to the borrower's family size and State, divided by 12.
Discretionary income is the amount of your adjusted gross income (from your most recent federal income tax return) that exceeds 150 percent of
the poverty guideline amount for your state and family size.
Discretionary income is the amount of your adjusted gross income (from your most recent federal income tax return) that exceeds 150 percent of
the poverty guideline amount for your state and family size.
Not exact matches
To reach your number, we take 15 % of the
amount of your Adjusted Gross Income (AGI) that exceeds 150 % of the
poverty guidelines for your state and family size, then divide it by 12 to show your monthly payment.
The following chart shows the maximum Pay As You Earn monthly payment
amounts for a sample range of incomes and family sizes using the
Poverty Guidelines that were in effect as of Jan. 26, 2012, for the 48 contiguous states and the District of Columbia.
For example, based on the most current Federal
Poverty Guidelines, if your income exceeds the
amounts listed below (courtesy of Heritage), you would become ineligible for subsidies.
The Indigency Program waives the
amount of surcharges owed for individuals who have incomes at or below 125 percent of the federal
poverty guidelines.
The Incentive Program reduces the
amount of surcharges owed for some individuals who have incomes above 125 percent and below 300 percent of the federal
poverty guidelines.