What To Expect
Income-Based Repayment (IBR) is one of several repayment plan options for borrowers of student loans made under the William D. Ford Federal Direct Loan (Direct Loan) Program or the Federal Family Education Loan (FFEL) Program. If you qualify for IBR, your required monthly payment will be an amount that is intended to be affordable based on your income and family size, and will be less than what you would have to pay under a 10-year Standard Repayment Plan.
The IBR Application Process must be completed in a single session which takes approximately 30 minutes to complete.
In this process, you will complete the following steps:
- Enter your personal information.
- Provide your income information by using the IRS Data Retrieval Tool. If you are unable to transfer your income information from the IRS, you will be given instructions on how to submit a paper application and evidence of your income to your servicer(s).
- Read the terms and conditions.
- Review, electronically sign and submit the completed IBR application. (If applicable, your spouse must also complete their portion and electronically sign the IBR application you began.)
