What is Income Based Repayment (IBR)?
Updated October 18, 2022
There are several types of repayment plans for student loans, including Income Based Repayment (IBR). If you qualify for IBR, you only pay 15% of your discretionary income (as determined by a federal formula). Not all students qualify for IBR. Contact your loan servicer to see if you are eligible.
Other repayment options that are related to your income are Pay As You Earn, Income-Contingent, and Income-Sensitive.
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