New report shows how student loan borrowers fare on Income-Driven Repayment Plans

11/22/19 Today the Consumer Financial Protection Bureau released a new Data Point describing how borrowers fare on IDR plans. This Data Point provides new background on which types of student loan borrowers use IDR, how their delinquencies on student loans and other credit products evolve as they transition onto IDR and thereafter, and borrower experiences with the enrollment recertification process. The most common income-driven repayment plans are Income-Based Repayment (IBR) and Pay As You Earn (PAYE). Each year, borrowers in income-driven repayment plans are required to prove (recertify) that they still qualify for an affordable monthly payment. Key Words: Post-Secondary Education, Financial Aid,