pay as you earn
- noun
- /peɪ æz ju ɜrn/
- Formal
:
pago a medida que se gana
- Is the pay as you earn option available for everyone?
Examples
-
Many graduates enrolled in the pay as you earn plan to cap loan payments based on income.
-
The counselor explained how pay as you earn can lead to forgiveness of remaining balance after years.
-
After losing her job, she switched to pay as you earn to lower her monthly student payments.
-
Many students opt for the pay as you earn plan to manage their loans.
-
Many graduates are considering the pay as you earn plan because it makes repayments manageable based on their income.
-
Under the pay as you earn program, borrowers will only pay a small percentage of their discretionary income each month.
-
Students are relieved to learn that their outstanding loans may be forgiven after following the pay as you earn repayment plan for a set number of years.
Antonyms
Surface Forms
Morphology
The phrase can be literally parsed as 'pay according to what you earn', so a B1 learner who knows pay/as/you/earn would likely infer that payments are tied to income. However, the full technical sense — a specific U.S. repayment plan with defined percentage rules and possible loan forgiveness — is specialized and not predictable from the constituents alone, so only partial transparency applies.
Etymology
Pay as you earn began as a clear phrase meaning you only pay according to what you earn now. The U.S. plan uses this idea: your monthly loan payment is based on your income, so you 'pay as you earn' and may have the rest forgiven after a set time.