Here is a recently made video from FedLoan Servicing (PHEAA) about IBR. IBR stands for Income-Based Repayment, which has become a great and helpful option for students in repayment to help avoid default. At first IBR might seem a bit complicated, but the simplest way to explain it is basing your repayment on your income. The video will explain much more detail about this, as well as a quick overview of the other payment plans available.
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