What You Need to Know
IBR is designed to provide temporary relief—not a long-term repayment plan.
- Payments adjust based on income, family size, and location
- Requires proof of financial hardship for the borrower and cosigner
- Payments are capped and never exceed standard repayment amounts
Why Choose Income-Based Repayment
Flexible payments that adapt to your financial situation.
Pay Based on What You Earn
- Payments capped at 15% of discretionary income
- Never higher than the standard repayment amount
- Minimum monthly payment as low as $10
Interest Protection
- Interest may accrue during IBR
- Unpaid interest does not capitalize immediately
- Helps prevent balance growth during hardship
25-Year Forgiveness
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Remaining balance may be forgiven after 25 years
- Requires qualifying monthly payments
- Forbearance/deferment periods do not count
Stay Eligible for Other Programs
- Does not impact RISLA rewards or forgiveness programs
- Includes Nursing and Internship benefits
- Keep access to additional repayment support
Things to Consider Before You Apply
IBR can help now—but may impact long-term costs.
Key Considerations:
- More Interest Over Time
Lower payments may extend repayment and increase total interest - Annual Documentation Required
Must update income and family size each year - Potential Tax Impact
Forgiven balances may be considered taxable income
Eligibility & Guidelines
Understanding Qualification Requirements
IBR eligibility is based on federal poverty guidelines and financial need.
Financial Hardship
- Income must fall below 150% of the federal poverty level
- Based on family size and state
- Applies to both borrower and cosigner
Annual Recertification
- Necessary if borrower chooses to remain on IBR plan
- Recalculates payment amounts annually
- Ensures continued eligibility
Program Limits
- Maximum of 300 monthly payments (25 years)
- Payments may change annually
- Reverts to the standard plan if no longer eligible
Need Help?
Questions about IBR or your eligibility?
- Call: 800-758-7562
- Contact RISLA support for personalized guidance
- Get help completing your application