I wanted to share some information with AFCPE members about the Income-Based Repayment (IBR) plan that might be useful to members and their clients who are repaying federal student loans.
The Income-Based Repayment (IBR) program was part of the 2007 College Cost Reduction and Access Act and the program goes into effect as of today, July 1, 2009. Here are a couple of references I think provide useful information about the program:
* Federal Student Aid (FSA) – Income Based Repayment Plan:
* IBRinfo: http://www.ibrinfo.org/index.php
~ Gerald Buchko, MA AFC
Financial Counselor & Personal Finance Coach