How many students contribute to retirement funds? Not enough. How can those with student loan payments even think about putting money away for retirement? Kind of by necessity. If you earn enough for Standard Repayment, then good for you! I hope you are socking away as much as possible. For those on Income-Sensitive repayment plans, there is some good news:
Your monthly payments are calculated annually based upon your adjusted gross income (AGI). Your AGI is your gross income, less any deductions. Well, certain retirement contributions lower your AGI. Check out this site for more details about how to reduce your AGI, and thus your monthly payment. Awesome news, and highly recommended since retirement is very important. No one wants to adjunct five classes instead of traveling with the grand kids.
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