And the extra 5% is yours to spend as you like while the government will make more in tax dollars than what they saved you...another Demoncratic scam to raise taxes!!!

"Income-driven repayment plans make student monthly loan payments affordable by adjusting for the individual borrower’s income and family size. While these plans existed before Biden, his debt relief plan would require participants to pay just 5% of their discretionary income rather than the previous 10%. Consequently, the average annual student loan payment will be lowered by more than $1,000 for borrowers."