Yes. If you qualify, either Income-Based Repayment (IBR) or the Pay As You Earn plan (for new loans) can dramatically lower your payments on your federal student loans, if you have a "partial financial hardship."

There are other qualifications and conditions, but it is certainly worth investigating this option if you have federal student loans that you are having trouble paying, or on which you have defaulted. Parent PLUS loans are not eligible for Income-Based Repayment or Pay As You Earn repayment options.

You really don't need a lawyer to learn about your options and apply. We do represent people with student loans if they wish to hire us, but if you are diligent and have the time to learn about your options, you should be able to find options that work for you, yourself. To start, see the links on this website for student loans under "Resources."


J Thomas Black
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Board Certified, Consumer Bankruptcy Law- Texas Board of Legal Specialization