Income based payment plans in Texas are one of the ways that students can get relief from their federal student loans. Freedom Loan Resolution Services has student loan forgiveness counselors available in Texas to help students that are looking for ways to deal with their past due student loans. For many, an income based payment plan may be available, but each circumstance is different. Our student loan counselors will sit down with you to determine if you are not only eligible for an income based payment plan but if it is right for your specific situation.
In an income based payment plan, your family size and income would dictate what your monthly loan repayment amount would be. In the best of circumstances, your monthly payment could be as low as $0.00 per month, but it is specific to each individual and is based on family size and income.
This option is great for students or families that want to manage their student loan repayment but are struggling to make the payments required because their total debts each month are equal to or higher than their total income.