Back to top

College Cost Reduction and Access Act – Income-Based Repayment

Tools

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.