NOTE: Make payments while you are in school or during your grace period to decrease the amount you will pay over the life of your loan!
10 years
10 years
25 years
25 years
15 years
Income-Driven Repayment (IDR) Plans
Standard Repayment
Standard Repayment is right for you if you can afford your monthly payments and want to pay your loans off as quickly as possible.
Plan Features
- Quickest payoff.
- Fixed monthly payments.
Payments and Term
- The minimum monthly payment under this plan is $50 per loan program.
- For example: The minimum monthly payment for all of your loans within the Federal Direct Loan Program is $50. If you also borrowed loans from the Federal Family Education Loan (FFEL) Program, they will also have a $50 minimum payment.
- Payments of principal and interest remain relatively the same throughout repayment.
- Maximum repayment term of 10 years for unconsolidated loans, and up to 30 years for consolidated loans.
Other Important Information
Changes may occur to your monthly payment during your repayment period for a few reasons, such as when .
Income-Driven Repayment (IDR) Plans
Learn all about IDR plans, recertification, and why you need to apply for IDR at StudentLoans.gov.
IDR 101 - Getting Started
IDR plans are based on your income, family size, and state of residence. Since these can change, annual updates are required to keep your payments aligned with your current situation.
When you first enroll in an IDR plan, you will:
- Be approved for up to 12 months at that payment amount.
- Need to ‘recertify' near the end of the 12 months to have your payments set up for the next 12 months.
- Need to submit a new request and income documentation every year.
IDR Life Cycle
1. Submit your IDR application request through StudentLoans.gov
2. Get approved for an IDR plan
3. Receive notification from our office when it is time to recertify (this happens annually)
4. Log in to StudentLoans.gov and recertify annually for an IDR plan (repeat every 12 months)
5. Receive loan forgiveness or payoff the remaining balance of your loans!
Explore Your IDR Options
IDR plans may be right for you if you have a sizeable amount of student loan debt, are unsure if you can afford your monthly payments, or have little to no income.
PAYE
Plan Features
- Monthly payments as low as $0 per month.
- Payment amounts based on your income and family size.
- Extended repayment period.
- Offers loan forgiveness after 20 years of qualifying payments.
Payments and Term
- Reduced monthly payments are calculated using your discretionary income and family size.
- Payments are generally 10% of your income.
- Payments are made for up to 20 years.
Other Important Information
- If you're married and file a joint federal income tax return, your spouse's eligible student loan debt and adjusted gross income are also considered (unless you are separated or unable to obtain your spouse's income information).
- Since the information used to calculate your payment may change from year-to-year, you must recertify annually for PAYE.
IBR
Plan Features
- Monthly payments as low as $0 per month.
- Payment amounts based on your income and family size.
- Extended repayment period.
- Offers loan forgiveness after 25 years of qualifying payments (20 years for new borrowers*).
Payments and Term
- Reduced monthly payments are calculated using your discretionary income and family size.
- Payments are generally 15% of your discretionary income (10% for new borrowers*).
- Payments are made for up to 25 years.
Other Important Information
- If you're married and file a joint federal income tax return, your spouse's eligible student loan debt and adjusted gross income are also considered (unless you are separated or unable to obtain your spouse's income information).
- Since the information used to calculate your payment may change from year-to-year, you must recertify annually for IBR.
*A new borrower for the IBR plan has no outstanding balance on a Direct or FFEL Program Loan as of July 1, 2014, or has no outstanding balance on a Direct or FFEL Program Loan when he or she obtains a new loan on/after July 1, 2014.
ICR
Plan Features
- Monthly payments as low as $0 per month.
- Payment amounts based on your income, family size, and loan debt.
- Extended repayment period.
- Offers loan forgiveness after 25 years of qualifying payments.
Payments and Term
- Reduced monthly payments are calculated using your discretionary income, family size, and total amount of eligible loan debt.
- Payments are generally adjusted based on your income using the lesser of:
- 20% of your discretionary income
- The amount you would pay under a fixed repayment plan over 12 years.
- Payments are made for up to 25 years.
Other Important Information
- If you're married and file a joint federal income tax return, your spouse's adjusted gross income is also considered (unless you are separated or unable to obtain your spouse's income information).
- Since the information used to calculate your payment may change from year-to-year, you must recertify annually for ICR.
REPAYE
Plan Features
- Monthly payments as low as $0 per month.
- Payment amounts based on your household income (with spouse, if applicable) and family size.
- Extended repayment period.
- Offers loan forgiveness after 20 years of qualifying payments (25 years for borrowers with Direct Loans obtained for graduate and professional study).
Payments and Term
- Reduced monthly payments are calculated using your discretionary income (with your spouse, if applicable).
- Payments are generally 10% of your income.
- Payments are made for up to 20 years (25 years for borrowers with Direct Loans obtained for graduate and professional study).
Other Important Information
- You must provide income documentation for yourself and your spouse regardless of whether you file your taxes jointly or separately (unless you file separately because you are separated or unable to obtain your spouse's income information).
- Since the information used to calculate your payment may change from year-to-year, you must recertify annually for REPAYE.
NOTE: For IDR Forgiveness any remaining balance may be taxable. Please consult a tax advisor or the IRS with any questions.
The Importance of Recertification
When you first enroll in an IDR plan, you will get approved for up to 12 months at that payment amount. Near the end of the 12 months, you'll need to ‘recertify' to have your payments based on your income set up for the next 12 months. You need to submit a new request and income documentation every year.
You are required to recertify EVERY YEAR! If you don't recertify or get your documentation in on time there could be some negative consequences:
- Your monthly installment amount will most likely increase
- Your interest may be added to your principal balance
Why Your Payment Could Increase After You Recertify
Because IDR plans are based on income, family size, and state of residence, a change to any of the following could cause your installment amount to increase:
- Your income increased
- Your family size changed (example: getting married)
- You moved
Helpful Tips
- You need to recertify annually; but don't worry, we will notify you closer to your recertification date!
- You may ask us to recalculate your payment amount at any time if your financial circumstances change. Simply apply online at StudenLoans.gov.
Applying for IDR, Recertifying, and The Department of Education (The Department)
You will be directed to The Department’s website StudentLoans.gov.
You Are Here
FedLoan Servicing
You Apply or Recertify here
StudentLoans.gov
Before You Continue:
You will need your FSA ID in order to sign in to StudentLoans.gov. If you don't have an FSA ID or need help managing your ID, visit www.fsaid.ed.gov.
To Apply or Recertify for an IDR Plan:
- Sign in
- Fill out the application information
NOTE: During the application process you will be asked to use the IRS Data Retrieval Tool to transfer income information from your federal income tax return. - Review and sign
Once you review and sign the application, we will receive your information for processing—it's that simple.
Graduated Repayment
Graduated Repayment is right for you if you may be able to afford higher payments in the future, but a smaller monthly payment would be helpful now.
Plan Features
- Quickest payoff.
- Lower monthly payments that increase over time.
Payments and Term
- Monthly payments initially satisfy interest-only.
- Payments begin lower and increase every 2 years throughout the repayment period.
- Maximum repayment term of 10 years for unconsolidated loans, and up to 30 years for consolidated loans.
Other Important Information
- You will pay more over the life of your loan than on the 10-year Standard Repayment plan.
- Payments increase every 24 months until the loan is paid in full.
Extended Fixed Repayment
Extended Fixed Repayment is right for you if you have a lot of debt, but none of the other repayment plans work for your budget.
Plan Features
- Extended repayment period.
- Fixed monthly payments.
- Lower monthly payment than the 10-year Standard Repayment plan.
Payments and Term
- Monthly payments are generally lower because the repayment period is extended.
- Maximum repayment term up to 25 years.
Other Important Information
- In order to qualify, you must have more than $30,000 in outstanding Direct Loans or .
- For example: If you have $32,000 in outstanding Direct Loans and $12,000 in outstanding FFEL Program Loans, you may be able to choose this plan for your Direct Loans; however, your FFEL Program Loans would not be eligible.
- Changes may occur to your monthly payment during your repayment period for a few reasons, such as when interest capitalizes. You will pay more over the life of your loan than under the 10-year Standard Repayment plan.
Extended Graduated Repayment
Extended Graduated Repayment is right for you if you have a lot of debt, and while none of the other repayment plans work for your current financial situation, you hope to be able to pay more in the future.
Plan Features
- Extended repayment period.
- Lower monthly payments that increase over time.
Payments and Term
- Monthly payments are generally lower and increase later in repayment.
- Maximum repayment term up to 25 years.
Other Important Information
- In order to qualify, you must have more than $30,000 in outstanding Direct Loans or .
- For example: If you have $32,000 in outstanding Direct Loans and $12,000 in outstanding FFEL Program Loans, you may be able to choose this plan for your Direct Loans; however, your FFEL Program Loans would not be eligible.
- You will pay more over the life of your loan than on the 10-year Standard Repayment, 10-year Graduated Repayment, or 25-year Extended Fixed Repayment plan.
- Payments increase every 24 months until the loan is paid in full.
Income Sensitive Repayment
Income Sensitive Repayment is right for you if you're worried about your monthly payments, your loans don't qualify for a more beneficial repayment plan, and you need temporary relief to fit your budget.
Plan Features
- Extended repayment period.
- Lower monthly payments.
Payments and Term
- Monthly payments are based on your monthly gross income.
- Payments must at least cover the interest that accrues every month.
- Repayment term may be extended by up to 5 years.
Other Important Information
- Only loans that were disbursed in the FFEL Program are eligible for this repayment plan.
- Since the information used to calculate your payment may change from year-to-year, you must re-apply annually for Income-Sensitive Repayment.