Income Based Repayment Plan – IBR

What is an IBR? The IBR is a new federal program named “Income based Repayment” that helps students repay student loans based on their ability to repay. Below is an overview of how the IBR – “Income Based Repayment plan works.

IBR – Income Based Repayment Overview:

• The IBR can extend your payments over 25 years, which reduces the amount you pay each month
• The amount of your monthly payment is based on your monthly income and family size
• The most important element of the IBR is that — if you make your monthly payments for 25 years without missing any, you student loan is close whether total repayment has occur or not

To learn more about IBR “Income Based Repayment Plan” and how it can help you and your student loan repayment go to IBR Info

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