Income Driven Repayment Plan Fax Number

The main website where borrowers can visit to apply for and renew income driven repayment plans studentloans gov has been phased out and replaced with studentaid gov a more user friendly. This program allows borrowers to make monthly payments that are based on their family size income and total debt and will either equal 20 of their discretionary income or the amount of the payments that would be made if the borrower were on a fixed 12 year repayment plan whichever is less. Income based repayment for new loan borrowers ibr plan for new borrowers you re considered a new borrower under the ibr plan if you have no outstanding balance on a direct or ffel loan as of july 1 2014 or have no outstanding balance on a direct or ffel loan when he or she obtains a new loan on after july 1 2014.