An income-driven repayment plan is a type of repayment plan for federal student loans that can help make
your monthly loan payments more affordable by basing them on your income and family size. There are three
income-driven repayment plans:

• Income-Based Repayment Plan (IBR Plan)
• Pay As You Earn Repayment Plan (Pay As You Earn Plan)
• Income-Contingent Repayment Plan (ICR Plan)

The IBR Plan is available to borrowers with loans made under the Direct Loan Program or the FFEL
Program. The Pay As You Earn Plan and the ICR Plan are available only to borrowers with loans made
under the Direct Loan Program.

Note: These plans have different terms and conditions, and not all borrowers or all loan types qualify for all of
the income-driven plans.

For more information go to the Income-Driven Repayment Plans: Frequently Asked Questions Website