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How to lower your monthly student loan payment if you're worried about how to afford it when forbearance ends in January

1 month ago   |   By Business Insider

Summary List Placement
Federal student loans payments have been paused and interest rates set to 0% since March. But, barring any new legislation, payments and interest will resume after December 31, 2020.
If you're unsure how you'll pay your loans in January, an income-driven repayment plan could help you limit your student loan costs to a percentage of your income, and forgive balances after 20 or 25 years.
To apply, you'll need to decide which income-driven repayment plan is right for you, and submit an application through the Office of Federal Student Aid's website.
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