Revised Pay As You Earn (REPAYE)

The Revised Pay As You Earn (REPAYE) plan is a student loan repayment program that adjusts monthly payments based on your income and family size, aiming to make payments more manageable. Under REPAYE, your payments are typically about 10% of your discretionary income, and any remaining debt is eligible for forgiveness after 20 or 25 years, depending on the type of loans. This plan also offers benefits like interest subsidies for some loan types and extends forgiveness options, helping borrowers avoid default and manage repayment more effectively, especially if their income fluctuates or is initially low.