This expansion of IBR provides a clearer path for borrowers who are currently in other income-driven repayment plans, especially those on the Income-Contingent Repayment Plan. What Is The Partial Financial Hardship Requirement?

In this education loan repayment plan, monthly instalment payments are equal to 15 per cent of the borrower's discretionary income, divided by 12. The borrower needs to make a 10 per cent payment if they are a new borrower on or after July 1,