When student loan payments start to feel overwhelming, income-driven repayment (IDR) plans can seem like a lifesaver. These plans adjust your monthly payments based on your income, often lowering what you pay each month. Plus, they offer the promise of forgiveness after 20 or 25 years.

But while IDR plans come with benefits, there are some important downsides that don’t always get as much attention. If you’re considering IDR or already enrolled, knowing these can help you make smarter choices and avoid surprises.  [Read more…]