Escape Partial Financial Hardship With This Hidden Strategy
The Hidden Strategy: Income-Driven Repayment Plans
One effective yet often overlooked strategy for escaping partial financial hardship is enrolling in an income-driven repayment plan, especially for those with student loans. These plans adjust your monthly payments based on your income and family size, potentially reducing the burden significantly. For instance, the Revised Pay As You Earn (REPAYE) plan caps your payments at 10% of your discretionary income1.