Income-Driven Repayment Plans: Questions And Answers - Federal Student Aid, U.s. Department Of Education Page 9
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26loans under the REPAYE Plan, which provides some of the same benefits as the PAYE Plan.
9. Who qualifies as a new borrower for the IBR Plan?
You are a new borrower for the IBR Plan if you had no outstanding balance on any other Direct Loan or
FFEL Program loan when you received a Direct Loan on or after July 1, 2014.
Because no new loans have been made under the FFEL Program since June 30, 2010, only Direct Loan
borrowers can qualify as new borrowers for the IBR Plan.
10. How can I find out if I qualify for an income-driven repayment plan and what my
estimated monthly payment amount would be?
Any borrower with an eligible loan type may choose to repay under the REPAYE Plan or the ICR Plan,
but only your loan servicer can make an official determination of your eligibility and your monthly payment
amounts for the PAYE or IBR plans.
To view estimates of your eligibility and monthly payment amounts under various repayment plans
(including the income-driven plans), use the U.S. Department of Education’s online Repayment Estimator
StudentAid.gov/repayment-estimator
at
. You can easily import your actual loan data into the
Repayment Estimator or manually enter your loan amounts.
Eligible Loans
11. What types of student loans can be repaid under the income-driven repayment plans?
The chart below shows the types of federal student loans that can be repaid under the income-driven
plans. Private student loans and defaulted federal student loans cannot be repaid under any of the
income-driven plans.
Loan Type
REPAYE
PAYE Plan
IBR Plan
ICR Plan
Plan
Direct Subsidized Loans
Eligible
Eligible
Eligible
Eligible
Direct Unsubsidized Loans
Eligible
Eligible
Eligible
Eligible
Direct PLUS Loans made to graduate or
Eligible
Eligible
Eligible
Eligible
professional students
Direct PLUS Loans made to parents
Not eligible
Not eligible
Not eligible
Eligible if
consolidated*
Eligible
Eligible
Eligible
Eligible
Direct Consolidation Loans that did not repay
any PLUS loans made to parents
Direct Consolidation Loans made on or after
Not eligible
Not eligible
Not eligible
Eligible
July 1, 2006, that repaid PLUS loans made to
parents
Subsidized Federal Stafford Loans (made
Eligible if
Eligible if
Eligible
Eligible if
under the FFEL Program)
consolidated*
consolidated*
consolidated*
Eligible
Unsubsidized Federal Stafford Loans (made
Eligible if
Eligible if
Eligible if
under the FFEL Program)
consolidated*
consolidated*
consolidated*
Federal Student Aid |
StudentAid.gov
Page 9 of 26
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