Skip to content

Tools for FAOs: Income-Driven Repayment Plans Guide

September 17, 2013

IDRP PDFThe Department of Education offers three student loan repayment plans based on borrower income, family size, and loan balance: Income-Contingent, Income-Based, and Pay As You Earn. These plans are great options for those who need to lower their payments due to financial hardship, but it can be difficult to distinguish which plan is best. Our newest reference will assist both borrowers and financial aid officers in choosing the right income-driven repayment plan.

The Income-Driven Repayment Plans guide, available in both color and black & white, includes detailed information about each plan. For every plan, we address key points, which loans are eligible, how to qualify, and things to consider before choosing the plan. We have also provided charts that compare the plans based on certain situations. These have been updated to include examples with higher loan amounts for those who may be at the graduate/professional level.

Looking for additional income-driven repayment tools? This video gives a brief, clear overview of Income-Based Repayment. You can also view our previously-recorded webinar on the topic. Feel free to contact your Regional Director or the School Service Center if you have more questions about income-driven repayment!

Kristin Tobias, Communications Coordinator, Nelnet

Kristin Tobias, Communications Coordinator, Nelnet

One Comment leave one →
  1. B Clark permalink
    September 26, 2013 2:00 pm

    I think there are some errors on the “Income-Driven Repayment Plans Is One Right for You?” black and white version (I have not looked at the color version). Under the 90K loan balance for a single student, the total interest is listed as $38,096 and the total Paid is listed as $138,096. One of those must be off by 10k. Also, why is the standard plan for a loan balance of 90k different for a single student vs. a married student with a family. Standard is standard, right?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: