Dear Heather,

Thank you so much for your website. I have been struggling with my student loans for quite some time, and am so happy there is a resource for help.

My question is - am I eligible for IBR if my income is currently $0? I am doing full-time volunteer work and not getting paid. I also hope to continue doing volunteer work in the future, so hypothetically, if my income remains $0, would I remain eligible for IBR? And would the the loan ultimately still be forgiven after 25 years? 

Many thanks for your help.

GP

Yes, yes, and yes!  IBR is perfect for someone without income.  Borrowers are eligible if they can demonstrate the “right” debt to income ratio, called a Partial Financial Hardship.  You can earn forgiveness of any remaining balance after 25 years in IBR.  Be aware that income is determined by looking at the previous year’s Adjusted Gross Income from the tax return in most cases.

More good info on the ins and outs of IBR is on IBRinfo.org.

Yours,
Heather