If your federal student loan payments are high compared to your income, you may want to repay your loans under an income-driven repayment plan. 
Most federal student loans are eligible for at least one income - driven repayment plan. If your income is low enough , your payment could be as low as $0 per month. An income - driven repayment plan sets your monthly student loan payment at an amount that is intended to be affordable based on your income and family size. We offer four income - driven repayment plans : Revised Pay As You Earn Repayment Plan REPAYE Plan Pay As You Earn Repayment Plan PAYE Plan Income - Based Repayment Plan IBR Plan Income - Contingent Repayment Plan ICR Plan If you d like to repay your federal student loans under an income - driven plan , you need to fill out an application. Why pay for help with your federal student loans when your loan servicer will help you for FREE? Contact your servicer to apply for income - driven repayment plans, student loan forgiveness, and more. Learn more about loan servicers. If you're seeking Public Service Loan Forgiveness , you should repay your federal student loans under an income - driven repayment plan. Try This Resource Federal Student Loans : Repaying Your Loans Provides information about federal student loan repayment plan options, finding loan history and loan servicers, and making payments. 

How is my monthly payment amount calculated under an income-driven repayment plan? 
Generally , your payment amount under an income - driven repayment plan is a percentage of your discretionary income. The percentage is different depending on the plan. The chart below shows how payment amounts are determined under each income - driven plan. Depending on your income and family size , you may have no monthly payment at all. * For the IBR Plan , you're considered a new borrower on or after July 1 , 2014, if you had no outstanding balance on a William D. Ford Federal Direct Loan Direct Loan Program loan or Federal 

user: Hi, I'd like to know where can I get more information about income-based payment plans?


assistant:  Want more information about the income - driven repayment plans ?

user: yes

assistant: Explore our Questions and Answers page on Income Driven Plans


user: How long will I have a refund under each plan?


assistant: Income-based repayment plans have different repayment periods Under all four plans, any remaining loan balance is forgiven if your federal student loans are not paid in full at the end of the repayment period


user: very well and how do I calculate the amount of my payment?


assistant: You can Use our loan simulator. Loan Simulator provides a comparison of estimated monthly payment amounts for all federal student loan repayment plans, including income-based plans.


user: Will the ICR Plan give me benefits for PLUS loans?


assistant: The benefits of this plan will give you the only income-based repayment option available to major PLUS loan borrowers.


user: What would be the different payment periods?


assistant: Under all four plans, any remaining loan balance is forgiven if your federal student loans are not paid in full at the end of the repayment period.