Freelance writer

Deborah Kearns

Longer repayment period: Rather than paying off your loans in 10 years, you’ll be in debt for two decades or more.
Increased interest costs: A longer repayment period typically means paying more in interest. Even with the promised forgiveness, you may pay more over the life of your loan under IBR than you would with other options.
Tax implications: If you have a remaining balance after you complete your required payments, that balance can be forgiven. But income-based loan forgiveness is typically treated as earned income and you will owe taxes on that amount.

20+ years of editorial experience.
15+ years in real estate, mortgages, and personal finance.
Work has appeared on Newsweek Vault, Fortune, Bankrate, MarketWatch, MSN, CNN, and NerdWallet.

Bio and experience

Deborah Kearns is a personal finance editor and writer with more than 21 years of experience. She specializes in real estate, mortgages, small businesses, debt consolidation, estate planning, taxes, and other money topics. She is passionate about empowering consumers to live their best financial lives.

She has worked as the director of communications at Finance of America Companies, the managing editor over mortgages at LendingTree, the real estate editor and mortgage analyst at Bankrate, the mortgages writer at NerdWallet, and the senior editor of corporate communications at RE/MAX.

Deborah is currently a freelance writer, editor and content strategist, where her work has been featured by Fortune, Newsweek Vault, Bankrate, MarketWatch, CNN, NerdWallet, Mortgage Research Center, AP Buyline, LendingTree, SFGate, MSN, Realtor.com, MSN, Money, Investopedia, and RISMedia.