Are there any student loan repayment plans that allow for income-driven repayment?

Yes, there are student loan repayment plans that allow for income-driven repayment in Wisconsin. Income-driven repayment plans can help make loan payments more manageable for borrowers. These plans base loan payments on the borrower’s discretionary income and family size. Under Wisconsin’s student loan law, borrowers may qualify for one of four different income-driven repayment plans: the Revised Pay As You Earn (REPAYE) Plan, Pay As You Earn (PAYE) Plan, Income Based Repayment (IBR) Plan, and Income Contingent Repayment (ICR) Plan. Each plan has different eligibility criteria, so it’s important to review the specific terms to determine which plan is right for you. Although income-driven repayment plans can help reduce the amount of money you owe on your student loans, they can also extend the time it takes to pay off the loan. This means you could end up paying more interest over the course of the loan. It’s important to carefully consider your repayment options and review the terms and conditions of each plan with your lender before signing up. If you have additional questions about student loan repayment plans in Wisconsin, you can contact the Wisconsin Department of Financial Institutions or other helpful resources.

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Are there any student loan repayment plans that allow for income-driven repayment?

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