The Income Based Repayment Program for Student Loans (IBR)

The good news is that even if you have already graduated and are repaying your loans under a different program, you can switch to the IBR program.

To be eligible for the IBR program, a student must:

• Have a relatively low income.
• Have a relatively high loan balance.
• Have Stafford, Consolidation, or Graduate PLUS loans made under the FFEL or Direct Loan programs.

• Loans in default.
• Parent PLUS loans or loans that consolidated a Parent PLUS loan.
• Private loans.

• What is the Income Based Repayment (IBR) Program for Student Loans?
• Advantages of the Income Based Student Loan Repayment Program
• Disadvantages of the Income Based Student Loan Repayment Program (IBR)
• Which Students and Loans Are Eligible for the Income Based Repayment Program?
• The Income Based Student Loan Repayment Formula (IBR Formula)
• Applying for the Income Based Repayment Program for Student Loans