How much do you know about the Income Based Repayment Plan?

by Grace

Take a quiz on the Income Based Repayment Plan.

First, a basic definition:

Income-Based Repayment Plan (IBR)
“… a repayment plan for the major types of federal student loans that caps your required monthly payment at an amount intended to be affordable based on your income and family size.”

Take the quiz at the National Association for College Admission Counseling website.

It’s a short quiz.  I got all the answers right, but I have to admit I guessed on one question.  Apparently I need to read up on the Pay as You Earn Repayment Plan.

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