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What is the minimum payment under Income-Based Repayment (IBR) Plan?

April 26, 2017IBR income-based minimum payment Plan repayment

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What is the minimum payment under Income-Based Repayment (IBR) Plan?

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If you qualify for IBR, your monthly loan payment is based on your household’s adjusted gross income (AGI), household size, state of residence and the federal poverty guidelines published annually by the U.S. Department of Health and Human Services (HHS). It is possible that your initial monthly payment could be as low as $0 if your household’s AGI is below 150% of the federal poverty guideline for your household size and state of residence. For more information, visit our IBR site.