ST Alpha - "The components of the plan that aren't getting talked about are the payment caps (5% of discretionary income) and the full interest payment coverage -- (edited)" (Reading a Post)

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In response to "Why yes, I am trying to calculate whether or not I’d have come out ahead by not paying off my student loans five years ago. -- (edited)" by znufrii

The components of the plan that aren't getting talked about are the payment caps (5% of discretionary income) and the full interest payment coverage -- (edited)

Posted by oblique (aka kkuphal) Aug 24 '22, 11:33

even if the payment is $0 (with income caps) so that the loans never grow. Additionally the loans are fully forgiven after 10 years (down from 20) under $12k

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That’s the new income-based repayment plan, separate from the forgiveness part, and which is also awesome, yes. -- (edited) - znufrii Aug 24, 11:34 2
- Apparently you can also get refunded payments made since they paused payments (if you chose to make them) -- nm - oblique Aug 24, 11:36 1
  - Nice! -- nm - znufrii Aug 24, 11:37

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The components of the plan that aren't getting talked about are the payment caps (5% of discretionary income) and the full interest payment coverage -- (edited)

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