This repayment plan is available only after the required documentation is sent to the loan repayment servicer. You can obtain this documentation by clicking here; however, you must wait to apply until you have received your disclosure statement. With this plan, your payments are based upon your income and are adjusted annually. This plan may be suited for you if you are experiencing extreme financial problems and may be in danger of defaulting on your loans. You have to qualify for this plan. Key Factors Payment obligations are calculated based on the current income level and are adjusted annually based on expected total income. Payments must cover the interest that accrues between scheduled payments. Higher finance charges over the life of the loan.