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You have to pay back your loan in full, with interest.

• TAForObvReasons 8y ago
  Under an income-based repayment plan, if you don't make enough money over 20-25 years to pay off the loan with interest, the remaining loan balance is forgiven.
  • jsoc815 8y ago
    10 years if working for in public service or an approved non-profit agency and the amount forgiven is not counted as taxable income. However, there is currently at least one lawsuit pending because the gov't is trying to talk its way out of providing the forgiveness. Essentially telling the group that they were mistakenly approved for the program. Also people should read the program's fine print (in the FAQs). There is no guarantee that the program will remain or that the commitment will be honored.