"Income-Driven Repayment (IDR) Plan"
By U.S. Department of Education

What is Income-Driven Repayment Plan ?

Income-driven repayment (IDR) plans are designed to make your student loan debt more manageable by giving you a monthly payment based on your income and family size. 

How Income-Driven Repayment Plan Works ?

IDR plan allows to make payments based on your earnings for a set number of years, depending on your plan & forgive your remaining balance after 20 or 25 years of payments.

Who is Eligible for Income-Driven Repayment Plan ?

Eligibility for Income-Driven Repayment Plan is based on your income, family size, your loan balances and the types of federal student loans you have.


Types of Income-Driven Repayment Plan

The U.S. Department of Education offers four types of income-driven repayment plans, which are ICR Plan, IBR Plan, PAYE Plan and REPAYE Plan.

Repayment Period under IDR Plans

Repayment term is 25 years for ICR, IBR and borrowers who have graduate school loans under REPAYE & 20 years for PAYE and borrowers who have only undergraduate loans under REPAYE.

Interest on IDR Plans

During first 3 years federal government pays 100% of accrued but unpaid interest on subsidized loans in IBR, PAYE and REPAYE & 50% of accrued but unpaid interest on unsubsidized loans in REPAYE.

How to Apply for Income-Driven Repayment Plan ?

click here to apply

You must submit an application known as the Income-Driven Repayment Plan Request in order to apply for the IDR Plan.