What are the Pros and Cons of Income-Driven Repayment Program in Graduate Program?
For certain federal student loan holders, income driven repayment programs are payment options. As the name implies, your monthly payment is dependent on your salary and family size if you enroll in an Income-Driven Repayment plan. On an income-driven loan plan, the annual contribution would be smaller than the regular repayment plan. For borrowers with little to no wages, the payment may also be zero. There are many positives of income-driven installment schemes, but there are some pitfalls to remember.
