A popular student loan forgiveness plan was just paused
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CNET on MSNSAVE Borrowers Encouraged to Move to IBR Even Though Forgiveness Options Are Paused. Here's What's Going OnThe Department of Education put IBR forgiveness on hold but says it's temporary. Here's when forgiveness could resume and what it means for you.
Starting next summer, graduate borrowers can only take out direct loans that have a lower borrowing cap. These are the new limits for graduate school borrowing: For graduate students: up to $20,500 per year; $100,000 total. For professional and medical students: up to $50,000 per year; $200,000 total.
Income-Based Repayment (IBR) bases the monthly payment on 15% of discretionary income, as opposed to the amount you owe. The repayment term is up to 25 years.