Under the IBR Plan and the Pay As You Earn Plan, your monthly payment amount is generally based on
your AGI and family size. However, if your income increases to the point that your calculated monthly
payment amount would be more than what you would have to pay under the 10-year Standard Repayment
Plan, your monthly payment will be adjusted and will no longer be based on your income. Instead, your
required monthly payment will be the amount you would pay under the 10-year Standard Repayment Plan,
based on the loan amount you owed when you first entered the IBR or Pay As You Earn plan. This ensures
that you will never have a monthly payment that is greater than the amount you would have to pay under the
10-year Standard Repayment Plan.

Under the ICR Plan, your monthly payment will be the lesser of an amount that is calculated based on your
income and loan debt, or an amount calculated based only on income. Depending on your income, your
monthly payment amount under the ICR Plan may be higher than what you would be required to pay under
the 10-year Standard Repayment Plan.

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