How to use or fill out Income Sensitive Repayment Request with our platform
- Click ‘Get Form’ to open the Income Sensitive Repayment Request in the editor.
- In SECTION 1, enter your personal information including your name, account number, address, and contact details. Ensure all fields are filled accurately.
- Move to SECTION 2 for the payment calculation. Start by entering your Monthly Gross Income in the designated field and attach relevant documentation like a pay stub.
- Calculate your Estimated Monthly Interest Accrual by multiplying the principal balance of each loan by the interest rate and dividing by 12. Enter this amount in the corresponding field.
- Next, calculate 4% of your Monthly Gross Income and input this value. Then, determine your Estimated Monthly Payment by entering the greater amount between your monthly interest accrual and 4% of income.
- If you wish to request a higher payment than calculated, specify that amount in the Requested Monthly Payment section.
- Finally, review SECTION 3 for Borrower Agreement/Acknowledgment. Sign where indicated and ensure all information is accurate before submission.
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