Income-Based Repayment (IBR)

Overview

Income-based repayment (IBR) is a type of income-driven repayment plan intended to lower monthly federal student loan payments. The payment limits, expressed as a percentage of discretionary income, and loan forgiveness eligibility conditions, after either 20 or 25 years of repayment, depend on when borrowers took out their first federal student loan.

The following information regarding Income-Based Repayment, Income-Contingent Repayment and Pay As You Earn repayment plans include helping hints and FAQs concerning the IBR repayment initiative.

IBR Resources

Income-Based Repayment Plan Implementation and Best Practices Guide Version 4.0 – Overview and Q and As

Updated: 10/1/19

This Guide was developed in order to provide the FFELP community with a resource for implementing and maintaining the Income-Based Repayment (IBR) plan authorized by the College Cost Reduction and Access Act of 2007 and promulgated under the regulations issued by the U.S. Department of Education. This document has been updated with new understandings or guidance obtained since Version 3.0, released in December 2013, including the best practices published in the separate December 2015 Addendum that was released to the community on January 6, 2016.  New to this version is also an addendum (Appendix A) containing all of the Department of Education (ED) e-mails and accompanying attachments referenced throughout Sections I through XII.

 

Income-Based Repayment Plan Implementation Guide Version 3.0 – Overview and Q&As

Updated: 12/10/2013

This Guide was developed in order to provide the FFELP community with a resource for implementing the new Income-Based Repayment (IBR) plan authorized by the College Cost Reduction and Access Act. As new and known issues are resolved, this document will be updated.

 

Addendum to the 2013 IBR Implementation Guide

Updated: 12/06/2015

Since the IBR Implementation Guide was developed in 2013, the NCHER IBR Workgroup has continued to collaborate on various issues regarding the IBR plan. The following Addendum includes several new IBR-related questions and answers, as well as clarification on some of the information provided in the 2013 Guide.

 

IBR Online Calculator

Department of Education Federal Student Aid Loan Simulator

 

Other Resources

www.IBRinfo.org IBRinfo is a nonprofit, independent source of information on IDR and Public Service Loan Forgiveness. The site, created by the Project on Student Debt, is a resource for borrowers and consumers, with information about IDR eligibility and monthly payment amounts.

 

IBR Webinar PowerPoint Presentations

IDR Files and Forms

Income-Driven Repayment

TitleDescriptionDownload
Income Driven Repayment Form

Revision of the Income-Driven Repayment Application 

OMB Form: 1845-0102

Revised: 08/31/2019

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EA 2019-09-05 Revision of the Income-Driven Repayment Application

The Office of Management and Budget (OMB) has approved a revised version of the income-driven repayment plan application under OMB Control Number 1845-0102. The revised versions have an expiration date of August 31, 2021. The forms are for use by borrowers who are seeking the Revised Pay As You Earn (REPAYE), Pay as You Earn (PAYE), Income-Based Repayment (IBR), or Income-Contingent Repayment (ICR) for loans made under the William D. Ford Federal Direct Loan (Direct Loan) Program and the Federal Family Education Loan (FFEL) Program.

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Income Driven Repayment Form (SP)

Revision of the Income-Driven Repayment Application 

OMB Form: 1845-0102

Spanish Version

Revised: 08/31/2019

DownloadPreview
Income-Driven Repayment Comparison Chart

Information regarding Income-Based Repayment, Income-Contingent Repayment and Pay As You Earn repayment plans including helping hints and FAQs

Updated: 02/16/2017 

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NCHER Income Driven Repayment Presentation

The NCHER IBR, ICR and Pay As You Earn Power Point Training Presentation complete with: Definitions of key terms, Comparison of plans, Application process, Borrower example, Summary, Resources and Speaker's Notes

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