Completing an IDR Application When You’re the Only Cat in the Office
by Kevin Ree
So you’re applying for an INCOME-DRIVEN REPAYMENT (IDR) plan and you’re SELF-EMPLOYED (or don’t receive paystubs @ your job)? Here’s what to do to avoid having your application being denied.
Write a self-certified (self-signed) letter that includes:
- Business/Employer name
- Business/Employer address
- Pay frequency (weekly, biweekly, etc.)
- Monthly gross income (amount made before taxes)
- Hours worked per week
- Signature and date
Submit this letter with your IDR application. Done. If you have multiple sources of income, just list the details above for each source. Simple.
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