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In Australia, government student loans (HECS/HELP) don't need to be repaid until you earn over a certain amount, but then it's a flat 4% of income. Also access
by kibibu 3y ago
In Australia, government student loans (HECS/HELP) don't need to be repaid until you earn over a certain amount, but then it's a flat 4% of income.
Also access to lower priced medicine has an income cap (your made up example is called a Health Care Card in Aus), so it's very possible for people at various thresholds to get a raise and have a dip in income or a bump on expenses.
- filoleg 3y agoIn the US, if you are qualified, you can get on an income-driven repayment plan. Under that plan, your federal student loan repayment is also capped at income percentage. If you keep making payments, the rest of the loan gets discharged after 20-25 years (depending on circumstances)[0]. 0. https://www.consumerfinance.gov/paying-for-college/student-loan-forgiveness/ https://www.consumerfinance.gov/paying-for-college/student-l...