U.S. News &amp; World Report - The College Cost Reduction and Access Act (CCRAA) has been a  breakthrough for everyone looking to afford a higher education. There  are two distinct components related to loan repayment: The first,  discussed below, is Income-Based  Repayment (IBR) that allows graduates to pay back their federal  loans on a sliding scale based on their income. The second, discussed in  last week's blog, is Public  Service Loan Forgiveness (PSLF), which provides forgiveness on  federal educational loans for people who work in the public service  sector for 10 years.