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Because a. not everyone qualifies for that, and b. 10% of disposable income for 20 years for something that didn't work out is still a pretty awful deal
by austenallred 9y ago
Because a. not everyone qualifies for that, and b. 10% of disposable income for 20 years for something that didn't work out is still a pretty awful deal
- learc83 9y ago>Because a. not everyone qualifies for that Everyone who has federal student loans (90% of all loan disbursements) qualifies for income based repayment plans if the plan will lower your payment. *PLUS loans your parents took out don't qualify, but you won't need those if you're going to a 4 year state school. >20 years for something that didn't work out is still a pretty awful deal Didn't work out meaning can't make much money. For a family of 4 making $50k (about the median household income), you'd pay back around $100 a month.