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Nitro Knowledge. Your Guide to Paying for College.


No academic degree takes longer to earn—or is more expensive to pay off—than a medical degree. The average medical school student now graduates with $192,000 in student loan debt, according to the Association of American Medical Colleges.

So if you’re feeling overwhelmed by your student loans, you’re not alone.

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The Standard Repayment Plan — the default repayment plan for federal loans — works for many graduates. But if your loan balance is high and your income is low, this plan may not be an affordable option for paying back your student loans. 

Thankfully, most federal loans are eligible for an income-driven repayment plan, which takes into account how much you make. Let's take a look at the specifics of a popular income-driven plan, the Pay-As-You-Earn Plan, to see if it's a good choice for you.

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For some college grads, the income they earn right after graduation makes it difficult to pay down the balance on their student loans.

If this is a challenge for you, the government’s Graduated Repayment Plan might help make things more manageable by lowering your monthly student loan payments

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Maybe you just lost your job, you decided to go back to school, or you got hit with an unexpected medical cost. In any case, your finances have changed—and you have to put your student loan on hold.

For federal loans, you have the option of putting your student loan in deferment while you get back on your feet. Here’s a look at how it works and how to apply.

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If you want to reduce the monthly bill for your federal student loans, you have a lot of options.

There are currently four income-driven repayment plans that let you recalibrate the amount you pay per month based on how much you earn. The idea is that you pay what you can afford, as a manageable percentage of your income.

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If you’re struggling to make your federal student loan payment each month, then you might be looking for ways to make your loans more affordable.

Income-driven repayment plans can help you lower your federal student loan payment by adjusting your payments based on your income.

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