 So income-based repayment started in 2009 and what the original income-based repayment was was 15% of your discretionary income and If you're low income for the whole time if you never end up making more than $30,000 and you have $80,000 in loans We will forgive the loans You haven't been able to pay off the remaining balance after 25 years So what the Obama administration said was we want to make this even better for borrowers 15% is too much So they said instead of 15% of your discretionary income We're going to make it 10% of your discretionary income and instead of 25 years of loan forgiveness We're going to make it 20 and in doing so they said this is going to help middle income borrowers So we wanted to see how these changes affected real borrowers So we built a calculator that's available online for anyone to use and we started running scenarios And what we found is is that the change from 15 to 10 percent which is a 33 percent reduction in monthly payments Doesn't really help low income borrowers that much because it only affects their monthly payment by a few dollars But it does have a huge effect on high debt high income borrowers So someone who went to law school and took out hundred fifty thousand dollars in loans They could start out with a starting salary of say sixty thousand dollars and they need income-based repayment They can't possibly pay off the standard monthly payment on their loan Which is fine, but what we found is because the The terms of the new IV of the new income-based repayment are so generous that even when these Borrowers end up making two hundred or two hundred fifty thousand dollars down the road They still get forgiveness and they get a lot of forgiveness something like a hundred or a hundred fifty thousand dollars in some cases So in finding that we said this isn't right, you know, we should be helping low income borrowers not high income borrowers