IBR Calculator. This calculator can help you determine if you – or you and your spouse if you are married – might qualify for Income-Based Repayment (IBR). This tool works best on a recent version of Firefox, Internet Explorer, Safari or other browser. Calculator Assumptions *Income vs. Adjusted Gross Income (AGI): This calculator uses income as an approximation for Adjusted Gross Income (AGI). Results may therefore be less accurate for users whose income is significantly different from their AGI (for example, users who receive substantial dividends or interest from investments, users who receive alimony payments, users with self-employment deductions, and other situations listed here).
**Dependents for Married Borrowers: For married borrowers, the calculator also assumes that the couple files a joint tax return (not two individual returns), so that any dependents are claimed jointly. MyEdAccount.Com:::Borrowers. Loans | Public Service Loan Forgiveness. The Public Service Loan Forgiveness program discharges any remaining debt after 10 years of full-time employment in public service. The borrower must have made 120 payments as part of the Direct Loan program in order to obtain this benefit. This contrasts with the loan forgiveness of the remaining balance after 25 years of repayment under the income-contingent and income-based repayment plans for borrowers who are not employed full time in public service jobs.
See also the list of Answers to Frequently Asked Questions about Income-Based Repayment and Public Service Loan Forgiveness and the list of other student loan forgiveness programs. Eligibility The public service loan forgiveness program has several restrictions: Term: The forgiveness occurs after 120 monthly payments made on an eligible Federal Direct Loan.
Periods of deferment and forbearance are not counted toward the 120 payments. Employer Certification Form Use of the employment certification form is recommended but not required. AnnualCreditReport. Colorado PERA - Public Employees' Retirement Association of Colorado.