Who Uses Income-Driven Student Loan Repayment
higher education students, financial status and behavior, economic barriers, financial education, loan repayment
A recent report from the US Department of Education’s Office of Inspector General indicates that enrollment in income-driven repayment (IDR) plans, which allow borrowers to repay student loans based on how much they earn, has increased substantially over the past five years. $51.5 billion of the student loan debt from the 2014–15 cohort of borrowers is being repaid through an IDR plan, compared with $7.1 billion from the 2010–11 cohort of borrowers. As more borrowers enroll in IDR, it is important to understand the demographics of those who use this program.
Blagg, Kristin, "Who Uses Income-Driven Student Loan Repayment" (2018). Optimizing Financial Education Utilization. 42.