The New Income-Driven Plan

Right now, you pay 10% of your income. Biden's doing is changing that where instead of a deduction of $45,000, a deduction is going up to $67,000. So he's raising a ton, the threshold- For a family? For a family, yeah. And then if you file separately, then the deduction for each spouse in that example, that you don't have to pay anything until you're making at least $67,00 as a family. If your loans are undergrad only, you pay 5% ofyour income instead of 10%. All the interest above your required payment is also going to be subsidized.