Income-based Repayment — available as of July 1, 2009

• You must demonstrate partial financial hardship to qualify.
• Payments are 15 percent of your discretionary income.
• Payments are adjusted annually based on your Adjusted Gross Income and family size.
• Payments can zero.
• Additional benefits such as restricted capitalization, loan forgiveness, and interest subsidies may be available.
• Contact your lender for more details.
• To determine if you qualify for the IBR plan, use the EdFund Income-Based Repayment Calculator.

As a student loan borrower, you may choose from several flexible repayment plans for an affordable monthly payment. You have the option to change repayment plans should your financial situation change. Be sure to look at all of your repayment options and compare the total interest paid along with the monthly payment. Extending the repayment term will increase the total amount repaid.