how is the income driven repayment plan for federal student loans calculated?
Posted on 2016-11-15
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.