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Nitro Knowledge. Your Guide to Paying for College.


If you'd like to lower your payment on your federal student loans, you should know that the government offers several income-driven repayment options. Good news, right? The even better news is that it only takes about 10 minutes to enroll. 

These plans recalibrate your payment to a manageable amount based on your income and ability to pay. You can enroll by calling your federal loan servicer, or by applying online. Here's how.

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So you've heard about these payment plans that will reduce your monthly student loan bill and you're wondering if  they're an urban legend. Let us assure you: these plans do, in fact, exist. 

But there are a few things you should understand before you sign up.

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Paying extra on your student loans every month can make a big dent over time—even if you only tack on as much as the price of a movie ticket. 

How can a few extra bucks a month make a difference? Let's talk about how this works. 

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 Dying for student loan debt relief? Sure, you can put those loans in deferment or forbearance, but both of those options have major drawbacks.

It’s way better just to get your loan forgiven or have someone else pay it off for you. And if you're interested in that (because who isn't?), you've come to the right place. Get ready—this is the largest guide to student loan debt relief we've ever assembled.

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Are you tackling a big monthly student loan payment with a salary that isn't as big as you'd hoped?

If so, income-driven repayment for your federal student loans can be a godsend. Under these plans, the government will reduce your monthly federal student loan payment to a more manageable rate based on your income.

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No matter how much student loan debt you have, it’s the monthly payments that truly impact your day-to-day life. Finding space in your budget to pay a hefty student loan bill can be challenging—if not impossible.

If you have federal loans, you probably qualify for an income-driven repayment plan that can can make your monthly payments a lot easier. They are:

  • PAYE
  • REPAYE
  • IBR
  • ICR
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