Master Loan Freedom See Which Plan Saves You
Real-World Examples and Statistics
Consider a borrower with $30,000 in student loans at a 4% interest rate. Under a standard 10-year repayment plan, their monthly payment would be approximately $304, with a total repayment cost of $36,448. However, if they opt for an income-driven plan and qualify for a reduced payment based on their income, they could pay significantly less each month, freeing up cash for other financial priorities2.