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how is the income driven repayment plan for federal student loans calculated?

Posted on 2016-11-15
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Last Modified: 2016-11-20
Hello and Good Evening Everyone,

            I am interested in any link or links which illustrate the actual steps of determining repayment terms of student loans.  I know such factors like income, filing status, household size, amount owed, etc. are somehow jointly used in determining the monthly repayment amount.  However, I am not sure how the calculations are determined.  

           With everything said, could someone shed some light on this question?  I will look forward to reviewing everyone's comments.

            Thank you

            George
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Question by:GMartin
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d-glitch earned 2000 total points
ID: 41890068
There is an estimator app on a US Dept of Educations website, and there are more relevant links there as well.
     https://studentloans.gov/myDirectLoan/mobile/repayment/repaymentEstimator.action
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Author Closing Comment

by:GMartin
ID: 41895128
Hello and Good Afternoon,

          Thank you for answering my question with your resourceful link.  

          Have a great rest of the day.

          George
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