Partial Financial Hardship for Student Loan Repayment #doctor #medschool #studentloans

How does a partial financial hardship work for old IBR? For those who borrow before July 1, 2014, if you make more than you owe, you probably make too much and thereby do not qualify for a partial financial hardship. If you're eligible for new IBR or the PAY program, they give you a little more bandwidth, where generally you can make about $100,000 more than you oh, that's usually where you can apply for the new IBR or the PAY program, because it has a higher threshold, and it's because payments are based on 10% of discretionary income. But really what you should be looking at when you're thinking about that is would your monthly payment in IBR or paye, would it be less than what it is on the standard 10 year plan? Because that is the threshold that they look at when they're calculating your payment.