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Looking to lower your student loan repayment? Wondering SAVE vs PAYE? You need to understand the Income Driven Repayment plans (IDR student loan repayment plans)! This video goes into all the details of IDR repayment plans (SAVE, ICR, IBR, and PAYE) and explains each Income Driven Repayment plan - benefits, drawbacks, eligibility, who is right for each IDR plan, and more!
Links/videos mentioned:
⭐ Department of Ed for more details on IDR plans: studentaid.gov/manage-loans/r...
⭐ Loan simulator: studentaid.gov/loan-simulator
⭐ SAVE plan explained video! • New SAVE Student Loan ...
⭐ How to calculate your SAVE payment video: • How to calculate your ...
⭐ PSLF video: • PSLF explained! Public...
🎁 Downloand my free Student Loan Forgiveness Cheat Sheet that goes over 13 different federal student loan forgiveness programs 🎁
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Ms. Moody - former librarian, current financial feminist, and money educator.
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Wanna read a good money book for beginners?
"The Index Card" by Helaine Olen and Harold Pollack
- Get it from your public library: www.worldcat.org/oclc/928750850
- Get it from Amazon: amzn.to/2Lm1iHv (To keep my videos free, this is an affiliate link meaning I may receive a portion of the purchase price - thank you for supporting this work!)
-Get it from a local bookstore: www.indiebound.org/book/97801
...Looking for a book a bit more advanced?
"Dumb Things Smart People Do With Their Money" by Jill Schlesinger:
- Get it at your local public library: www.worldcat.org/oclc/1140204982
- Get it from Amazon: amzn.to/2La9VUN (To keep my videos free, this is an affiliate link meaning I may receive a portion of the purchase price - thank you for supporting this work!)
- Get it from a local bookstore: www.indiebound.org/book/97805
Thanks for watching!
Heads up: All the content is for educational purposes only. Ms. Moody is not a licensed financial advisor; she’s a librarian, money nerd, and educator. As personal finance is personal, to find out what is best for you, consult a financial professional. Users are solely responsible for any actions they take.
This video is protected under US Copyright law. If you would like to reuse any of it for your own work, you must have explicit permission from the creator (Ms. Moody). Please contact me for permission before using any part of the video.
00:00 -1:07 IDR repayment plans are confusing
1:08 - 1:51 What is an IDR payment plan?
1:52 - 3:13 What you need to know about all IDR plans
3:14 - 5:05 Drawbacks of IDR plans
5:06 - 7:56 SAVE IDR plan explained!
7:57 - 10:06 PAYE explained!
10:07 - 12:05 IBR explained!
12:06 - 13:44 ICR explained!