Tiered Standard Repayment Plan (Fixed-Payment)
Payments are a fixed amount designed to pay off your loan within 10 to 25 years, depending on your total principal balance.
If you do not choose a plan, your servicer automatically places you here.
Payments under this plan do not qualify for Public Service Loan Forgiveness (PSLF).
Income-Based Repayment Plans (IDR)
Income-driven repayment (IDR) plans set your monthly federal student loan payments based on your income and family size rather than your total loan balance.
Major changes to federal student loan income-driven repayment (IDR) plans are underway following the implementation of the One Big, Beautiful Bill Act and the finalization of rules by the U.S. Department of Education.
Types of IDR Plans
Repayment Assistance Plan (RAP)
Repayment Assistance Plan (RAP): For new loans disbursed on or after July 1, 2026. RAP becomes the primary Income-Driven Repayment option.
It sets monthly payments at 1% to 10% of adjusted gross income (or a flat $10 per month for incomes under $10,000) and offers forgiveness after 30 years.
Parent PLUS loans are not eligible for the new RAP plan.
Saving on a Valuable Education (SAVE)
Following a federal court injunction and a settlement agreement, the SAVE plan has been terminated.
Action Required: Loan servicers began contacting affected borrowers in July 2026, giving them 90 days to switch to an alternative repayment plan. Borrowers who miss their deadline are automatically placed into a Standard repayment plan.
Income Based Repayment Plan (IBR)
Under these plans, your monthly payment will never be more than the 10-year Standard Repayment Plan amount.
These IDR plans calculate your monthly payment amount based on your income and family size. So if your income increases, so does your payment amount. There is a limit on your payments so that even if your income increases, your payments never go higher than what you’d pay on the 10-year Standard Repayment Plan.
IBR remains accessible, though eligibility and terms depend on when your loans were originally disbursed.
Income-Contingent Repayment Plan (ICR)
Under the ICR Plan, your payment is always based on your income and family size. Your payment on this plan is the lesser of:
20% of your discretionary income or
what you would pay on a repayment plan with a fixed payment over the course of 12 years, adjusted according to your income.
*Important: OBBBA eliminates the ICR and PAYE Plans in the future (no later than July 1, 2028).
Pay As Your Earn (PAYE)
Under these plans, your monthly payment will never be more than the 10-year Standard Repayment Plan amount.
These IDR plans calculate your monthly payment amount based on your income and family size. So if your income increases, so does your payment amount. There is a limit on your payments so that even if your income increases, your payments never go higher than what you’d pay on the 10-year Standard Repayment Plan.
*Important: OBBBA eliminates the ICR and PAYE Plans in the future (no later than July 1, 2028).