These repayment plans are designed with you in mind!

The government created Income-Based Repayment (IBR) programs to make your federal student loan payments more manageable. Relief is only a few steps away. To find out if you qualify, give us a call at 800-461-9203 or read on for a quick overview of the IBR programs.

PAYE IconPay as You Earn (PAYE)

The Pay as You Earn (PAYE) program will reduce your monthly student loan payment based on your income. In fact, under this plan, your payments can be reduced to 10% of the amount of your discretionary income.

Eligibility Overview: To qualify for PAYE, you must have a partial financial hardship. This just means that in order to qualify, the payments you would have made under a 10-year Standard Repayment Plan must be higher than the monthly amount you would be required to pay under PAYE.

All Federal Student Loans taken out after 2007 qualify for this program.

IBR IconIncome-Based Repayment (IBR)

Did you know that an estimated 1.6 million student loan borrowers qualify for IBR? Under this plan, you can make your monthly student loan payment more affordable by capping it off at 15% of your income.

Eligibility Overview: To qualify for IBR, you must have partial financial hardship (low income relative to high debt load)

If you’re experiencing extreme hardship paying your student loans, then an Income Based Repayment plan might be your best option. If you are delinquent with your payments or about to default on a student loan, income based programs can help you avoid large debt collection fees and penalties. Call us now at 800-461-9203 to find out if you qualify!

ICR IconIncome Contingent Repayment (ICR)

If you’re not eligible for either of the plans mentioned above, not to fear! Income Contingent Repayment is still designed for borrowers with a low income, however, it also takes into account family size and the total amount of your Direct Loans.

Eligibility Overview: The ICR program is ideal for borrowers pursuing jobs with lower salaries. Your monthly payments will be based on your income, family size, and total amount borrowed. Therefore, the monthly payment amount is adjusted annually based on changes in annual income and family size.

Call us at 800-461-9203 and we’ll help you calculate your monthly payment under this plan and even walk you through enrollment if you qualify!

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Call us at 800-461-9203 for help with your student loans!

You’re a phone call away from reducing your monthly student loan payment.