Lisa recently graduated from college, and just started her dream job. Even though her income is more than she's ever made before, it's still tough to pay her $410 monthly student loan payment.
When the pandemic hit, her Federal student loans were placed into an automatic interest-free forbearance period. She doesn't have to make any payments until after May 1, 2022 and her loans won't accumulate any interest.
Even though she doesn't owe anything now, Lisa still wants to lower her monthly payment for when repayment resumes in the fall.
Lisa loaded her loans into IonTuition and explored the repayment calculators. She found out that she qualifies for an income-driven repayment plan that can lower her monthly payment to $247 per month, and that her balance will be forgiven after 20 years of repayment.
Lisa connected to an IonTuition advisor who helped her enroll into her new repayment plan. She also set up a custom alert for when she'll need to recertify her income driven repayment plan.
|