Income-Driven Repayment Plans: Questions And Answers - Federal Student Aid, U.s. Department Of Education Page 6
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REPAYE Plan
PAYE Plan
IBR Plan
ICR Plan
the plan
capitalized under
annually is limited to
The amount of
these conditions
10 percent of your
unpaid interest that
There is no limit on
original loan
may be capitalized
the amount of unpaid
principal balance at
if you no longer
interest that may be
the time you entered
qualify to make
capitalized under
the ICR Plan
payments that are
these conditions
based on your
income is limited to
10 percent of your
original loan
principal balance at
the time you
entered the PAYE
Plan
Leaving the
If you choose to
If you choose to
If you choose to leave
If you choose to
Plan
leave this plan, you
leave this plan, you
this plan, you will be
leave this plan, you
may change to any
may change to any
placed on the
may change to any
other repayment plan
other repayment
Standard Repayment
other repayment
for which you are
plan for which you
Plan. If you want to
plan for which you
eligible
are eligible
change from the
are eligible
Standard Repayment
Plan to a different
repayment plan, you
must first make at
least one payment
under the Standard
Repayment Plan, or
one payment under a
reduced-payment
forbearance (you may
request a reduced-
payment forbearance
if you can’t afford the
Standard Repayment
Plan payment)
5. Is there a maximum income limit to qualify for an income-driven repayment plan?
No. There is an income eligibility requirement for the PAYE and IBR plans, but it is not based on a
particular income level. Rather, it compares your income to the amount of your eligible federal student
loan debt. There is no income eligibility requirement for the REPAYE or ICR plans. See
Eligible
Borrowers, below, for more information.
6. How can I learn more?
Contact your loan servicer. Find your loan servicer’s contact information at
StudentAid.gov/log-in
, or
contact the Federal Student Aid Information Center (FSAIC) at 1-800-4-FED-AID (1-800-433-3243); (TTY:
1-800-730-8913).
Federal Student Aid |
StudentAid.gov
Page 6 of 26
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