Unfortunately, too many former students are unable to pay back their loans, under the regular terms of the loan.
Anyone with too much student loan debt should consider a income based repayment plan.
For general information about the plans, see the webstie below
What the plans provide is that someone who owes money on a federal student loan may be able to get into a payment plan to pay back the loan based on income.
These plans can be very helpful in a situation in which a debtor has a large debt load with not enough income to make the regular loan payments.
What is important to understand is that the payment plan is based on income, not the amount of the debt. Therefore, the plan can drastically reduce the amount of the payment.
Attorney Robert M. Singer
Law Offices of Robert M. Singer, LLC
2572 Whitney Avenue
Hamden, CT 06518