Consolidating a private loan with a federal loan
That means they are not backed by collateral, by some asset – a house, a car, a piece of land.
Generally speaking, discretionary income is the amount of money you have to spend each month after you pay for the essentials, like rent, utilities, and food.
Then they subtract 150% of the federal poverty line for your family size.
The difference between your AGI and 150% of the federal poverty line for your family size is your discretionary income—and that’s the number that will form the basis for calculating your monthly loan payment.
With the standard plan, you’ll pay a fixed amount each month until your loans are paid in full.
Your monthly payments will be at least , and you’ll have up to 30 years to repay your loans with a fixed interest rate.
However, capitalization will not exceed 10 percent of the original amount you owed when you entered repayment.