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Income-Based Student Loan Repayment for Freelancers and Contract Workers

Updated on January 16, 2018 by Nathan Crabtree Leave a Comment

Are you a freelancer or contract worker? Do you drive for Uber or Lyft? Maybe you have a side hustle? If so, your income may vary from week to week or month to month. Fortunately, this won’t affect your eligibility for an income-based student loan repayment plan. And, if you’re struggling, there are options to lighten the load. You’re Not Alone Today, more people than ever are working in the so-called gig economy. By one estimate, there are somewhere between 54 and 68 million … [Read more...]

Filed Under: Income-based Repayment, Personal Finance, Student Loans Tagged With: Income-based Repayment, REPAYE, Student Loans

What President Trump’s Budget Means for Public Service Loan Forgiveness (PSLF)

Updated on September 29, 2017 by Nathan Crabtree Leave a Comment

[raw] President Trump’s budget calls for the elimination of the Public Service Loan Forgiveness Program The proposal is not yet law, and such dramatic changes to the federal budget are expected to be met with significant opposition from Congress The White House has stated that changes to PSLF will apply only to new borrowers and not those who are currently working toward loan forgiveness under the program The Budget Proposal President Trump’s budget calls for dramatic cuts to … [Read more...]

Filed Under: Income-based Repayment, Politics, Public Service Loan Forgiveness, Uncategorized Tagged With: Income-based Repayment, Politics, Public Service Loan Forgiveness

Excel-based REPAYE Calculator and Student Loan Amortization Table

Updated on September 29, 2017 by Nathan Crabtree Leave a Comment

[raw] The Revised Pay as You Earn (REPAYE) plan is an income-driven repayment plan for federal student loans. For borrowers struggling with loan repayment, it’s arguably one of the best options for relief. DOWNLOAD THE EXCEL-BASED REPAYE CALCULATOR AND AMORTIZATION TABLE The Benefits of REPAYE If you’re unfamiliar with REPAYE, the following are a few of the most important ways the plan benefits borrowers: Monthly payments are capped at 10 percent of a borrower’s discretionary … [Read more...]

Filed Under: Excel, Explainers, Income-based Repayment, REPAYE, Student Loans, Tools, Uncategorized Tagged With: Discretionary Income, Excel, Explainers, Income-based Repayment, REPAYE, Repayment Strategies, Student Loans, Tools

Three Things You Might Not Know About REPAYE

Updated on November 28, 2016 by Nathan Crabtree Leave a Comment

In 2015, the federal government launched the Revised Pay As You Earn plan (REPAYE), an income-driven repayment plan for federal student loans. For those struggling to make their monthly payments, REPAYE is arguably one of the best ways to ease the debt burden. Yet, not everyone is aware of the benefits the plan offers. This post will explain a few of the most important ones. Payments are capped at 10 percent of a borrower’s discretionary income Under REPAYE, monthly student loans payments … [Read more...]

Filed Under: Income-based Repayment, REPAYE, Repayment Strategies, Student Loans, Uncategorized Tagged With: Discretionary Income, Income-based Repayment, Repayment Strategies, Student Loans

The Complete Guide to REPAYE

Updated on July 17, 2016 by Nathan Crabtree Leave a Comment

If you’re struggling to make your student loan payments or unable to make them all together, REPAYE may help you to get a handle on your debt. This post explains exactly what REPAYE is, how it works, and what you need to do to take advantage of the program. As usual, we’ll start with the very basics. What is REPAYE? The Revised Pay As You Earn (REPAYE) plan is an income-driven repayment plan for federal student loans. With REPAYE, borrowers have access to many of the same benefits and … [Read more...]

Filed Under: Explainers, Income-based Repayment, Interest, REPAYE, Repayment Strategies, Student Loans Tagged With: Discretionary Income, Explainers, Income-based Repayment, REPAYE, Repayment Strategies, Student Loans

Understanding Discretionary Income and How It Impacts Your Income-Based Repayment Plan

Updated on November 8, 2017 by Nathan Crabtree 2 Comments

In general, discretionary income refers to the money that you have left over after you pay for all of your necessary expenses, including taxes. However, when it comes to many of student loan repayment programs offered by the student loan repayment programs offered by the federal government, there's a more precise definition for discretionary income. This post will help you to understand how to calculate discretionary income and how it impacts the amount you'll owe under income-driven … [Read more...]

Filed Under: Income-based Repayment, Student Loans Tagged With: Discretionary Income, Income-based Repayment, Student Loans

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