Income-Driven Repayment Plans: Questions And Answers - Federal Student Aid, U.s. Department Of Education Page 23
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2644. What if I have untaxed income such as welfare, food stamps, or certain forms of
disability payments? Do I need to submit documentation of income from those sources?
No. You need to document income from taxable sources only (that is, income that you must report on
your federal income tax return). Benefits such as Temporary Assistance for Needy Families or
Supplemental Security Income (SSI) are not taxable income, and should not be reported.
45. If I have no income, how do I document this when I apply for an income-driven
repayment plan?
If you have no income, you can certify your status when you complete the Income-Driven Repayment
Plan Request. You do not have to provide any additional documentation, unless you are required to do so
by your loan servicer.
46. What happens if my income changes significantly before the annual date when I’m
required to recertify my income?
If your income has significantly decreased or increased, you may (but are not required to) ask your
servicer to recalculate your current monthly payment amount at any time. You can do this by submitting a
new Income-Driven Repayment Plan Request and checking the box to indicate that you are requesting a
recalculation due to a change in your circumstances. You will be required to provide documentation of
your current income.
If your loan servicer recalculates your monthly payment based on your request, this will change the
annual date that you are required to provide updated income information and certify your family size. The
new date will be one year from the date your monthly payment is recalculated, and then each year at
around the same time.
As noted above, you’re not required to report changes in your financial circumstances before the annual
date when you must provide updated income information. You can choose to wait until your loan servicer
tells you that you need to provide updated income information at the normally scheduled time. If you
choose to wait, your current required monthly payment amount would remain the same until you provide
the updated income information.
47. I understand that I must report my family size when I first apply for an income-driven
repayment plan and then annually as long as I remain on the plan. I don’t claim my child
as a dependent on my taxes and don’t have physical custody of my child, but I
contribute significantly to my child’s support. Do I count my child when reporting my
family size?
For all income-driven repayment plans, your family size includes your children if they receive more than
half of their support from you. You may count your child when determining your family size if you provide
more than half of the child’s financial support, regardless of who claims the child for tax purposes or who
has physical custody. If you don’t provide more than half of your child’s support, you may not include the
child in your family size for income-driven repayment plan purposes.
48. Can I apply for an income-driven repayment plan while I’m in a deferment or
forbearance?
Yes. If you wish to begin making payments under an income-driven plan before your deferment or
forbearance is over, ask your loan servicer to end the deferment or forbearance early. You can do this on
Federal Student Aid |
StudentAid.gov
Page 23 of 26
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