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Income-Driven Repayment Comparison
January 1, 2016 (published)
Tony Bartels, DVM, MBA

Know Your Repayment Options: Which IDR Plan Should You Use?

Aspects

ICR

IBR 2009

PAYE

IBR 2014

REPAYE

Federal loan types

Direct Only

Direct & FFEL

Direct Only

Partial Financial Hardship test

No

Yes

No

Minimum payment per month

20% of discretionary income

15% of discretionary income

10% of discretionary income

Maximum payment per month

Standard 12-year plan

Standard 10-year plan

10% of discretionary income

Unpaid interest capitalization limits

10% of starting repayment balance

None

10% of starting repayment balance

None

N/A

Unpaid interest accrual net monthly payment

100%

50%

Repayment period (in years)

25

25

20

25

Income documentation

Required annually

Spouse income considered

Yes

Only if taxes filed jointly

Yes

Payments may qualify for PSLF

Yes

Forgiveness taxable

Yes

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