Income-Based Repayment FormsIf your student loan debt is high relative to your income, you may qualify for the Income-Based Repayment Plan (IBR).
Most major types of federal student loans—except for PLUS loans for parents and Consolidation Loans that repaid PLUS loans for parents—are eligible for IBR.
Under this plan, your monthly payments are
- based on your income and family size;
- adjusted each year, based on changes to your annual income and family size;
- usually lower than they are under other plans;
- never more than the 10-year standard repayment amount; and
- made over a period of 25 years.