Saturday, July 4, 2009

IBR-Income-Based Repayment plan ……a new hope.

July 1st signs an array of new hope to lower your federal student loan payment as IBR (Income-Based Repayment plan) starts from 1st July 2009 now you pay and manage your debt more easily. This plan will help you to safeguard on adjustable-rate mortgages and forgives you from the increase/decrease of interest rate change on your loan amount per year or during the life thus caps your monthly payment forgiving remaining debt and interest after 25 years. If you are employed in a government, nonprofit, private sector or working as a teacher then your federal loans can be forgiven just after 10 years.Must watch this animated video for more explanation, what it is all about and where to look for more information.

Hope this video was helpful .Best of Luck.

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