You have two main repayment plan options for repaying federal Direct Loans – Standard and income-driven repayment.
On Standard Repayment plans, your monthly payment is fixed, and is based on your total debt, the interest rate on your loans, and the length of the repayment term.
On income-driven repayment (IDR) plans, your monthly payment is based on your adjust gross income (AGI). Examples of IDR plans include: Income-Contingent Repayment (ICR), Income-Based Repayment (IBR), Pay As You Earn (PAYE), and Repayment Assistance Plan (RAP).
For more information about these plans, download the Federal Loan Repayment Plans at a Glance.
To learn more and apply for an IDR plan, visit StudentAid.gov/IDR.