Now, it’s working with the Department of Education to do the same on federal student loans. The CFPB posted a sample loan form, requesting comment.
You can defer payments for years, or seek a forbearance for years if you can’t land a job. You can elect to start out with small payments and then have the payments gradually rise as your pay increases.
And this week, President Obama announced improvements to the Income Based Repayment Plan. Anyone with high debt in relation to their pay should check this out.