What is one benefit of selecting an income-based repayment plan for your student loans? a If you take a job that pays a low income, you will never have to pay any of your student loans b The total loan amount will be decreased to meet your starting salary at your first post-college job c Your student loan interest rate will fluctuate based on how much you've earned in the previous year d Your monthly loan payment will be set based on your income, so that you're not paying more than 20% of income toward your loans

One of the benefits of selecting an income-based repayment plan for students loan is that the monthly loan payment will be set based on the income you earn, so that person need not pay more than 20% of the income towards the loan. Hence. Option D is the correct statement.

What is a student loan?

A sort of loan designed to assist college students to pay for post-secondary training and the related costs, along with tuition, books, supplies, and living expenses is called student loans.

Hence. Option D is the correct statement.

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