Revised Pay As You Earn (REPAYE) plan
GPTKB entity
Statements (48)
| Predicate | Object |
|---|---|
| gptkbp:instance_of |
gptkb:financial_assistance
|
| gptkbp:advisory_resources |
available through financial aid offices
|
| gptkbp:advocacy |
support changes to improve the program
|
| gptkbp:application |
Free Application for Federal Student Aid (FAFSA) required
|
| gptkbp:benefits |
income-driven repayment
|
| gptkbp:borrower_demographics |
varies widely among participants
|
| gptkbp:borrower_protections |
provides protections against default
|
| gptkbp:community_outreach |
Department of Education conducts outreach to inform borrowers
|
| gptkbp:comparison_to_other_plans |
more flexible than standard repayment
|
| gptkbp:consequences |
forgiven loans may be taxable income
|
| gptkbp:created_by |
gptkb:U._S._Department_of_Education
|
| gptkbp:discretionary_income |
difference between adjusted gross income and 150% of poverty line
|
| gptkbp:eligibility |
gptkb:financial_assistance
|
| gptkbp:evaluates |
ongoing assessments of effectiveness
|
| gptkbp:financial_aid |
integrated with federal financial aid programs
|
| gptkbp:financial_counseling |
recommended for borrowers considering the plan
|
| gptkbp:financials |
encourages borrowers to understand their options
|
| gptkbp:future_reforms |
potential changes based on borrower feedback
|
| gptkbp:has_limitations |
not all loans qualify for forgiveness
|
| https://www.w3.org/2000/01/rdf-schema#label |
Revised Pay As You Earn (REPAYE) plan
|
| gptkbp:impact |
can reduce stress related to debt
|
| gptkbp:impact_of_deferment |
payments may be paused
|
| gptkbp:impact_of_forbearance |
payments may be paused but interest accrues
|
| gptkbp:impact_on_credit_score |
timely payments improve credit score
|
| gptkbp:impact_on_financial_planning |
helps borrowers manage monthly payments
|
| gptkbp:impact_on_future_borrowing |
may affect eligibility for future loans
|
| gptkbp:impact_on_loan_balance |
can reduce overall loan balance over time
|
| gptkbp:interest_subsidy |
government pays 50% of unpaid interest
|
| gptkbp:introduced_in |
gptkb:2015
|
| gptkbp:is_a_resource_for |
nonprofits provide assistance with applications
|
| gptkbp:is_available_for |
consolidated loans
|
| gptkbp:is_available_in |
private student loans
new borrowers and existing borrowers |
| gptkbp:issues |
some believe it is only for low-income borrowers
|
| gptkbp:loan_forgiveness_period |
20 years for undergraduate loans
25 years for graduate loans |
| gptkbp:maximum_payment_amount |
varies based on income
|
| gptkbp:partnership |
works with educational institutions to inform students
|
| gptkbp:payment_calculation |
10% of discretionary income
|
| gptkbp:program_review |
subject to periodic review by the Department of Education
|
| gptkbp:program_updates |
subject to changes in federal policy
|
| gptkbp:project |
reduce borrower burden
|
| gptkbp:public_awareness |
efforts to increase awareness of repayment options
|
| gptkbp:renewal_frequency |
gptkb:annually
|
| gptkbp:servicing |
managed by federal loan servicers
|
| gptkbp:spousal_income_consideration |
includes spouse's income if married
|
| gptkbp:success |
many borrowers report positive outcomes
|
| gptkbp:user_feedback |
generally positive among borrowers
|