How does loan forgiveness work with IBR?
You can receive loan forgiveness for any remaining debt, including interest, after 25 years of qualifying payments. The following types of payments count towards IBR’s 25-year forgiveness period, as long as you are in IBR at some point during those 25 years: • Payments made in the Income Contingent Repayment plan (ICR) • All payments made on or after July 1, 2009 in the IBR, ICR, and Standard (10-year) Repayment plans • Periods when the borrower has a calculated payment of zero in IBR or ICR (this occurs when your income is at or below 150% of the poverty level for your family size) • Periods on or after July 1, 2009, when the borrower has been granted an economic hardship deferment Find out more about how to qualify for IBR.
