President Obama proposed that the Department of Education alter some rules to focus on lower-income borrowers and discourage high-debt/high-income borrowers ( ag e.g., health practitioners and attorneys) from using the PAYE nice payment terms. In December 2015, revised PAYE (REPAYE) became available utilizing the exact same payment formula as PAYE but enabling all Direct Loan borrowers to qualify no matter if they took away their first loan. Now, older loans may be consolidated and be eligible for REPAYE. Unlike IBR and PAYE, REPAYE doesn’t have money requirement or need proof monetaray hardship. REPAYE has a forgiveness clause after 25 years for graduate pupils (two decades for undergraduates) plus the forgiven balance is taxed. REPAYE doesn’t have a standard limit payment and will not enable utilization of the Married Filing Separately IRS tax return. Weiterlesen