Income-Driven Repayment Plans: Questions And Answers - Federal Student Aid, U.s. Department Of Education Page 5
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26Feature
REPAYE Plan
PAYE Plan
IBR Plan
ICR Plan
repayment if any
borrower)
loans you’re
repaying under
the plan were
received for
graduate or
professional
study
Interest
If your monthly
If your monthly
If your monthly
No interest benefit; if
payment doesn’t
Benefit
payment doesn't
payment doesn't cover
your monthly
cover the full amount
cover the full
the full amount of
payment doesn't
of interest that
amount of interest
interest that accrues
cover the full
accrues, the
that accrues on
on your subsidized
amount of interest
government pays
your subsidized
loans, the government
that accrues on your
loans, the
pays the difference for
loans, you're still
the full
government pays
the first three years
responsible for
amount of the
the difference for
paying the interest
difference on
the first three years
your subsidized
loans for the first
three years, and
half of the
difference after
the first three
years, and
half of the
difference on
your
unsubsidized
loans during all
periods
Interest
If your monthly
If your monthly
If your monthly
If your monthly
Capitalization
payment is less than
payment is less
payment is less than
payment is less than
When
the amount of
than the amount of
the amount of interest
the amount of
Payment
interest that accrues,
interest that
that accrues, any
interest that
Doesn’t Cover
any unpaid interest is
accrues, any
unpaid interest is
accrues, any unpaid
All Interest
capitalized (added to
unpaid interest is
capitalized (added to
interest is
your loan principal
capitalized (added
your loan principal
capitalized (added
balance) if
to your loan
balance) if
to your loan
principal balance) if
principal balance)
you are
you no longer
annually
removed from
you no
qualify to make
the plan for
longer qualify
payments based
When your monthly
payment is less than
failing to recertify
to make
on income or
the amount of
your income by
payments that
you leave the
interest that
the annual
are based on
plan
accrues, the amount
deadline, or
your income or
There is no limit on
of unpaid interest
you
you leave
the amount of unpaid
that is capitalized
voluntarily leave
the plan
interest that may be
Federal Student Aid |
StudentAid.gov
Page 5 of 26
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