If you choose to make three consecutive, voluntary, on - time, full monthly payments on your defaulted loan before you consolidate it, you may repay the new Direct Consolidation
Loan under any repayment plan you are eligible for.
Revised Pay As You Earn (REPAYE)--
Under this repayment plan there is no income eligibility requirement but that means your payment amount under REPAYE could go above your payment under a standard plan if your income greatly increases.
This is because Chapter 13 bankruptcy offers financial renewal by allowing filers to reorganize their
debts under a repayment plan that lasts three to five years.
If you choose to make three consecutive, voluntary, on - time, full monthly payments on your defaulted loan before you consolidate it, you may repay the new Direct Consolidation
Loan under any repayment plan you are eligible for.
Just enter some additional information, such as your income and family size, and your results will show what your payments would be
under each repayment plan.
Under this repayment plan, your student loan payment is only 15 % of your qualifying monthly discretionary income.