Student Loans That Qualify for Income-Based Repayment Plans

If you have certain kinds of student loans, you may qualify for a repayment plan that sets payment amounts based on your current income.

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How Do I Lower My Student Loan Payments?

by LegalConsumer Editors
Last Reviewed: Mon, Mar 13, 2023

The following table, adapted from a Federal Student Aid Website PDF website, shows what types of federal student loans qualify for the most common income-driven repayment plans. Only federal loans can be repaid this way; private student loans are not eligible.

To use the table -- and to find out about other ways to reduce your student loan payments -- find your loan type on the list below. Then see How Do I Lower My Monthly Student Loan Payments? to learn more about each option.

Loan Type	Income-Based Repayment (IBR) Plan	Revised Pay As You Earn (REPAYE) Plan	Pay As You Earn (PAYE) Plan	Income-Contingent Repayment (ICR) Plan
Direct Subsidized Loans	Eligible	Eligible	Eligible	Eligible
Direct Unsubsidized Loans	Eligible	Eligible	Eligible	Eligible
Direct PLUS Loans made to graduate or professional students	Eligible	Eligible	Eligible	Eligible
Direct PLUS Loans made to parents	Not eligible	Not eligible	Not eligible	Eligible if consolidated*
Direct Consolidation Loans that did not repay any PLUS loans made to parents	Eligible	Eligible	Eligible	Eligible
Direct Consolidation Loans that repaid PLUS loans made to parents	Not eligible	Not eligible	Not eligible	Eligible
Subsidized Federal Stafford Loans (from the FFEL Program)	Eligible	Eligible if consolidated*	Eligible if consolidated*	Eligible if consolidated*
Unsubsidized Federal Stafford Loans (from the FFEL Program)	Eligible	Eligible if consolidated*	Eligible if consolidated*	Eligible if consolidated*
FFEL PLUS Loans made to graduate or professional students	Eligible	Eligible if consolidated*	Eligible if consolidated*	Eligible if consolidated*
FFEL PLUS Loans made to parents	Not eligible	Not eligible	Not eligible	Eligible if consolidated*
FFEL Consolidation Loans that did not repay any PLUS loans made to parents	Eligible	Eligible if consolidated*	Eligible if consolidated*	Eligible if consolidated*
FFEL Consolidation Loans that repaid PLUS loans made to parents	Not eligible	Not eligible	Not eligible	Eligible if consolidated*
Federal Perkins Loans	Eligible if consolidated*	Eligible if consolidated*	Eligible if consolidated*	Eligible if consolidated*

Chart by LegalConsumer.com, Info source: StudentAid.Gov PDF: "Repaying Your Loans"

_{*If a loan type is listed as “eligible if consolidated,” this means that if you consolidate that loan type into a Direct Consolidation Loan, you can then repay the consolidation loan under the income-driven plan. For example, only Direct Loans may be repaid under the Pay As You Earn and ICR plans. However, if you consolidate a FFEL Program Loan or Federal Perkins Loan into a Direct Consolidation Loan, you may then be able to repay the Direct Consolidation Loan under the Pay As You Earn or ICR Plan (depending on the type of loan that you consolidate). Note that consolidation is not the right choice for all borrowers or all loan types. In particular, you may lose certain loan benefits if you consolidate a Federal Perkins Loan. Find out more about loan consolidation.}

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by LegalConsumer Editors

Florida Student Loans Home

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How Do I Lower My Student Loan Payments?

Jurisdictional relevance: The content of this article pertains to all US states and counties.

Subject	Federal Student Loans	Federal Parent Loans	Private Student Loans^*
When payments become due	Payments aren’t due until after you graduate, leave school, or change your enrollment status to less than half-time.	You (the parent) can choose to put off payments until the student you borrowed for graduates, leaves school, or changes enrollment status to less than half-time.	Many private student loans require payments while you are still in school, but some do allow you to defer (put off) payments while in school.
Interest rates	The interest rate is fixed and is often lower than private loans—and much lower than some credit card interest rates. View the current interest rates on federal student loans.	The interest rate is fixed and may be lower than private loans—and much lower than some credit card interest rates. View the current interest rates on federal student and parent loans.	Private student loans can have variable or fixed interest rates, which may be higher or lower than the rates on federal loans depending on your circumstances.
Subsidies	If you have financial need, you may qualify for a loan for which the government pays the interest while you’re in school on at least a half-time basis and during certain other periods. This type of loan is called a "subsidized loan."	These loans are not subsidized; therefore, you will be responsible for all the interest on your loans.	Private student loans are often not subsidized. In the case of an unsubsidized loan, you will be responsible for all the interest on your loan.
Credit check	You don’t need to get a credit check to qualify for federal student loans (except for PLUS loans). For PLUS loans, we will check your credit before determining whether you are eligible. Learn how someone with an adverse credit history may qualify for a PLUS loan.	We will check your credit before determining whether you are eligible. Learn how someone with an adverse credit history may qualify for a PLUS loan.	Private student loans often require an established credit record or a cosigner.
Tax benefits	Interest may be tax deductible.	Interest may be tax deductible.	Interest may be tax deductible.
Consolidation & refinancing	Loans can be consolidated into a Direct Consolidation Loan. Learn about your consolidation options.	Loans can be consolidated into a Direct Consolidation Loan. Learn about your consolidation options.	Private student loans cannot be consolidated into a Direct Consolidation Loan but may be refinanced.
Postponement options	If you are having trouble repaying your loan, you may be able to temporarily postpone or lower your payments.	If you are having trouble repaying your loan, you may be able to temporarily postpone or lower your payments.	You should check with your lender to find out about options for postponing or lowering your loan payments.
Repayment plans	There are several repayment plans, including an option to tie your monthly payment to your income.	There are several repayment plans, including an option to tie your monthly payment to your income.	You should check with your lender to find out about your repayment options.
Prepayment penalties	There is no prepayment penalty fee.	There is no prepayment penalty fee.	You need to make sure there are no prepayment penalty fees.
Loan forgiveness	You may be eligible to have some portion of your loans forgiven if you work in public service. Learn about our loan forgiveness programs.	You may be eligible to have some portion of your loans forgiven if you work in public service. Learn about our loan forgiveness programs.	Although many private lenders do not offer loan forgiveness programs, some student loans from state agencies can be forgiven in certain circumstances.
Where to get help	Contact your loan servicer first. If you have difficulty with your loan servicer, send us feedback.	Contact your loan servicer first. If you have difficulty with your loan servicer, send us feedback.	Contact your loan servicer first. If you have difficulty with your loan servicer, contact the Consumer Financial Protection Bureau for assistance

Student Loans That Qualify for Income-Based Repayment Plans

Useful Web Resources

Student Loan Repayment Rights: Consumer Debt Advice from NCLC library.nclc.org

Income-Based Repayment Plans (U.S. Department of Education) studentaid.gov

You may also be interested in:

How Do I Lower My Student Loan Payments?

How Do I Lower My Student Loan Payments?

Can I Discharge My Student Loans in Bankruptcy?

Student Loan Repayment Rights: Consumer Debt Advice from NCLC
library.nclc.org

Income-Based Repayment Plans (U.S. Department of Education)
studentaid.gov