According to the rules for IBR, if a person qualifies for IBR their monthly payments can be anywhere from $0 to 15% of their income, also according to the rules, after 25 years of faithful payements, the rest of the loan is forgiven.
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 Now does this mean that if John Doe qualifies for IBR and his IBR payments are $0.00 per month, and he continues to qualify for IBR each year, after 25 years will the loan be forgiven without him paying one penny?
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 According to the rules I read, I would tend to say yes.
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 Their would be some negatives, your balance would increase but payments would be 0 (in his case) so John’s score would take a hit.
 After 25 years, if forgiven, would count as taxable income and may cost someone their social securtiy disability and SSI checks for making
too much money.
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 It seems silly, how can a person make faithful payments of $0.00??
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 This could actually be true though, I have found that the IBR applications are usually buried very deep within the lender’s site making them quite hard to find at times.
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 Anyone want to check up on this as it may be an option for some.
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 Oh, Federal SL only, of course.
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