Government Student education loans: Supplemental Study for the Income and you can Family members Proportions Information to possess Income-Inspired Installment Agreements

Government Student education loans: Supplemental Study for the Income and you can Family members Proportions Information to possess Income-Inspired Installment Agreements

Federal education loan borrowers can apply to have Money-Passionate Cost preparations https://paydayloan4less.com/payday-loans-il/cerro-gordo/ that use borrowers’ nonexempt money and you can family dimensions to decide an affordable fee speed. Monthly installments can be low given that $0 nonetheless count towards financing forgiveness adopting the payment period.

95,100 preparations of your own nearly 878,500 agreements we tested happened of the individuals who generated no monthly obligations-yet possess got enough earnings to invest things

Exactly what GAO Discovered

Within the , GAO recognized signs from prospective fraud otherwise error within the money and you may family members size recommendations having individuals which have approved Income-Passionate Fees (IDR) agreements. Continue reading “Government Student education loans: Supplemental Study for the Income and you can Family members Proportions Information to possess Income-Inspired Installment Agreements”