Interest and Payment Crediting

Interest Payment and Crediting

This module covers how to accurately calculate the student loan interest and payments on income-based repayment plans. It’s an issue that can be confusing because of variables such as marital status, unpaid interest, and the payment hierarchy for multiple loans.

Topic Features

  1. Comparison of payment and interest calculation between traditional repayment and Income-Driven repayment.
  2. Why the hierarchy of loans affect payment and interest crediting.
  3. Dealing with unpaid interest in making the correct calculations.
  4. Application of payments to individual IDR plan loans.
  5. IDR payments for borrowers jointly repaying in IDR.
Student loan interest and payment crediting

Forms, Documents, Articles

  • See resource library for associated forms and further information.