BREAKING: Student Loan Assistance

If you’re like me and you’ve racked up a fair bit of student loan debt, then you probably already know about this.

As of July 1, 2009, some laws were changed that enable us to take care of our student loans a little more effectively through Income-Based Repayment, or IBR.  Depending on your family size and income, your student loan payments could be capped and the balance forgiven after 25 years. If you’re in non-profit or government work, you’re even better off with a timeline of 10 years.  There is a great calculator on the site that tells you what your payments could be. Even if you aren’t in debt, check out the video for the Debt Gremlin. I wonder if the illustration MFAs got their loans excused faster for coming up with that…