The U.S. Department of Education and its Office of Federal Student Aid has provided a fact sheet about the Income-Based Repayment plan.

If you have taken out student loans and are reaching graduation, it is important to know the options available to you as you begin to repay them. 

Income-Based Repayment (IBR) is a repayment plan for the major types of federal student loans that caps your required monthly payment at an amount intended to be affordable based on your income and family size.

By reading this fact sheet, you will be able to find answers to the following: 

• Who is eligible for the IBR plan?
• What are the benefits of the IBR plan?
• Are there any disadvantages using this plan?
• How is the IBR amount determined?
• How do you apply for the IBR plan?

To gain more information, click on the attachment in the right hand collumn.