INCOME SENSITIVE REPAYMENT - ISR
Method of repayment of loans serviced by lenders under the Federal Family Education Loan Program (FFELP). It aims to make repayment easier for borrowers with low income to afford monthly loan payments. An alternative to the income contingent repayment, the monthly loan payment amount is based on a fixed percentage of the borrower’s gross monthly income, between 4% and 25%. The monthly payment must be equal to or higher than the accrued interest amount.
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