What payment amount should be used for student loans?

What payment amount should be used for student loans?
June 13, 2018 Donna Malecki

What payment amount should be used for student loans?

If a payment amount is shown on the credit report , it may be used for qualifying purposes.  A payment on the most recent student loan statement may also be used.  For income-based repayment (IBR) plans, documentation verifying the payment must be obtained (even when the IBR payment is $0).  For deferred loans or loans in forbearance, a payment of 1% of the outstanding balance, or a fully amortizing payment using documented loan repayment terms should be used.

Last Updated On June 13, 2018