Three ways to avoid the financial death spiral of defaulting on your student loans


"It was already a difficult process to apply for income-driven repayment plans with the IRS data-retrieval tool and now that process is more difficult." One drawback to income-based repayment plans is that you have to reapply every year to qualify for lower payments. To make matters worse, the IRS data-retrieval tool that helps borrowers apply for these repayment plans has been shut down since early March over concerns about cybersecurity.

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