We strongly encourage you to research federal loan repayment programs, as well as loan forgiveness programs. As of Dec. 21, 2012, the “Pay as you Earn” Plan became available for eligible borrowers. The Pay As You Earn Repayment Plan helps keep your monthly student loan payments affordable, and usually has the lowest monthly payment amount of the repayment plans that are based on your income. If you need to make lower monthly payments, this plan may be for you. For instance, the Income-Based Repayment Plan for the Direct Loan and FFEL Programs helps in lowering your monthly loan payments to a manageable level. For more details, go to IBR information sheet (PDF: 2 pages). IBR is particularly beneficial when combined with the federal Public Service Loan Forgiveness (PSLF) Program, which allows students to have their loan debt forgiven after completing 10 years of qualifying employment in the public service sector while simultaneously making 120 on-time loan repayments. For more information, go to the PSLF fact sheet (PDF: 2 pages).The Department of Education also has two helpful resources: a brochure, “Your Federal Student Loans: Learn the Basics and Manage Your Debt” (PDF: 56 pages); and a Web site full of useful information about the repayment of student loans.