Revised Pay As You Earn (REPAYE)

Lending & Loans, Student Loans
Published Date: July 10, 2025
Last Modified: 1 month ago

What are Income-Driven Repayment Plans?

Income-driven repayment (IDR) plans are designed to make your federal student loan payments more affordable. They calculate your monthly payment based on your income and family size.

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There are several types of income-driven repayment plans, including Income-Based Repayment (IBR), Pay As You Earn (PAYE), Revised Pay As You Earn (REPAYE), and Income-Contingent Repayment (ICR). Each plan has different eligibility requirements and may offer different benefits, such as loan forgiveness after a certain number of years of qualifying payments. Contact your loan servicer to determine which plan is best for you.

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Lending & Loans, Student Loans

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Income-Based Repayment

Income-Based Repayment (IBR) is a federal plan that makes student loan debt more manageable by capping monthly payments at a percentage of your income. It is designed for borrowers experiencing a partial financial hardship relative to their federal student loan debt.

Income-Contingent Repayment

A Direct Consolidation Loan allows you to combine multiple federal student loans into one single loan with a fixed interest rate.

Pay As You Earn (PAYE)

The Pay As You Earn (PAYE) plan is a federal income-driven repayment option that sets your monthly student loan payment at 10% of your discretionary income. While now closed to new applicants, borrowers currently enrolled can continue to benefit from its 20-year loan forgiveness timeline.

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