But the repayment program also moves money around from those with higher lifetime incomes to those with lower lifetime incomes. This is partly because payday loans of Murrells Inlet federal student loans are available only to those with relatively low family incomes while studying. But it is also because of the way the repayment system works.
There are two ways to repay student loans: through a mortgage-style system, with fixed monthly repayments over a 10- or 15-year term, or through the Repayment Assistance Plan (RAP), a program that sets payments at an affordable level for those with lower incomes.Continue reading