Income-driven repayment plans are designed to make your student loan debt more manageable by reducing your monthly payment amount. If you need to make lower monthly payments, one of the three following income-driven plans may be right for you:
- Income-Based Repayment Plan (IBR Plan)
- Pay As You Earn Repayment Plan (Pay As You Earn Plan)
- Income-Contingent Repayment Plan (ICR Plan)