A line chart showing that a borrower with $30,000 in student loan debt would pay less back under the new Biden income-driven repayment proposal.
Notes: PAYE = Pay As You Earn income-driven repayment plan. Estimate uses the 2022 federal poverty level for a single person and a 4.45 percent interest rate, assumes income growth of 4 percent, inflation rate of 3 percent, and discount rate of 4 percent.