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College Cost Reduction and Access Act – Income-Based Repayment


Income-Based Repayment is a new repayment plan established by the College Cost Reduction & Access Act that can substantially reduce monthly student loan payments. Typically, borrowers who earn less than they owe in federal student loans will be eligible to choose Income-Based Repayment. The good news is that for most borrowers payments will be less than 10 percent of income.