Discretionary Income Calculator
The federal government created income based repayment because they want student loan payments to be affordable no matter how much you owe. How does the government figure out what an affordable payment is though? That’s where the discretionary income calculator definition comes in.
Income based repayment programs like REPAYE, PAYE, IBR, and ICR take 10% to 20% of your “discretionary income.” That means the government needs a standardized formula to figure out what they are supposed to charge you.
Once you know how to calculate YOUR discretionary income, you’ll never need to worry or wonder what your student loan payments are going to look like ever again.
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Last Update : Apr 03, 2019
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|Item Owner : Paul Cassidy|
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