Income-Driven Repayment Plans: Questions And Answers - Federal Student Aid, U.s. Department Of Education Page 4
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26Feature
REPAYE Plan
PAYE Plan
IBR Plan
ICR Plan
borrower)
years, adjusted
according to
your income
Cap on
None (may be higher
Never more than
Never more than what
None (may be
Payment
than the 10-year
what you would
you would have paid
higher than the 10-
Amount
Standard Repayment
have paid under
under the Standard
year Standard
Plan amount)
the Standard
Repayment Plan with
Repayment Plan
Repayment Plan
a 10-year repayment
amount)
with a 10-year
period, based on what
repayment period,
you owed when you
based on what you
entered the IBR Plan
owed when you
entered the PAYE
Plan
Married
Payment is generally
Payment is based
Payment is based on
Payment is based
Borrowers
based on the
on the combined
the combined income
on the combined
combined income
income and loan
and loan debt of you
income and loan
and loan debt of you
debt of you and
and your spouse only
debt of you and your
and your spouse,
your spouse only if
if you file a joint
spouse only if you
regardless of
you file a joint
federal income tax
file a joint federal
whether you file a
federal income tax
return
income tax return, or
joint or separate
return
if you and your
Only your income is
federal income tax
spouse choose to
Only your income
considered if you file a
return
jointly repay under
is considered if you
separate return from
the plan
file a separate
your spouse
If you file a separate
return and you are
return from your
Only your income is
separated from your
spouse
considered if you file
spouse or are unable
a separate return
to reasonably access
from your spouse
your spouse's
and do not choose
income, only your
the joint repayment
income and loan
option
debt is used
Repayment
Any outstanding
Any outstanding
Any outstanding
Any outstanding
Period & Loan
balance is forgiven
balance is forgiven
balance is forgiven
balance is forgiven
Forgiveness
after
after 20 years of
after
after 25 years of
qualifying
qualifying
20 years of
20 years of
repayment
repayment
qualifying
qualifying
repayment if all
repayment (if
loans you're
you're a new
repaying under
borrower on or
the plan were
after July 1, 2014),
received for
or
undergraduate
25 years of
study, or
qualifying
25 years of
repayment (if
qualifying
you're not a new
Federal Student Aid |
StudentAid.gov
Page 4 of 26
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