Acs Income Based Repayment ≡ Fill Out Printable PDF Forms Online

Income Driven Repayment Idr Plan Request Form Details

President Obama announced a new program this week to help struggling borrowers repay their loans. The "Acs Income Based Repayment" program will cap monthly payments at 10% of discretionary income for those who qualify. This new program could provide much-needed relief for the 44 million Americans who currently owe $1.2 trillion in student loan debt. President Obama also announced an expansion of the Pay As You Earn repayment plan, which will help an additional 5 million Americans reduce their monthly payments. If you are struggling to make your student loan payments, be sure to check out these new programs and see if you qualify.

Here, you will see a number of information regarding acs income based repayment PDF. It is worth making the effort to study this before you start submitting your form.

Question	Answer
Form Name	Acs Income Based Repayment
Form Length	11 pages
Fillable?	Yes
Fillable fields	7
Avg. time to fill out	4 min 9 sec
Other names	acs education ibr request form, ibr request form, idr income driven repayment plan request, income driven repayment plan form pdf

Form Preview Example

Important Note

This IDR request applies only to loans serviced by

CONDUENT Education Services. If you would like to make this request for other loans, you must submit a separate application to each loan holder or servicer.

The Income-Driven Repayment Plan Request application is enclosed. Please read each section carefully while completing the form.

Use this form to (1) request Income-Based Repayment (IBR); (2) provide the required information and documentation for the annual recalculation of your monthly payments under IBR; or (3) request an immediate re-evaluation of your monthly payment amount under IBR.

General Instructions for Completing this Application

Please print legibly and use a blue or black ink pen to fill out this form.

Be sure to include your name and Social Security Number (SSN) at the top of Pages 2-4.

Section 1

•Include your most up-to-date contact information. If this information has recently changed, please check the box.

Section 2

•Item 2: Check the box labeled ‘IBR’ as that is the only income-driven plan that applies to FFELP loans.

•Item 4: If your FFELP loan account is in a deferment or forbearance, and you want to begin repayment under IBR only when that deferment or forbearance ends rather than immediately, check the third box. If this is the case, please do not submit this form more than 90 days before the deferment or forbearance ends or your request will be denied as premature.

Section 4A

•Based on your answer to Item 7, only fill out one of the following sections: 4B, 4C or 4D.

If you checked ‘Yes’ to Items 8 and 10, also do the following:

•If your spouse has Federal loans with servicers other than CONDUNT, be sure he/she logs on to NSLDS (www.nslds.ed.gov) and gives CONDUENT (Organization Code 700006) temporary access TO his/her federal student loan information. Without this authorization from your spouse, we may be unable to accurately determine your eligibility for IBR and may have to deny your request.

Section 5

•Please carefully read this section to determine the appropriate documentation you must send with this form to verify your income. Do not send documentation of income if you indicated in Sections 4B, 4C, or 4D that neither you nor your spouse, if applicable, currently have taxable income.

Section 6

•Sign and date the form. If you answered ‘Yes’ to Items 8 and 10, or you have a Spousal Consolidation Loan, your spouse must also sign the form.

Instructions for Submitting the Application

Mail: CONDUENT Education Services

P.O. Box 7777

Utica, NY 13504-7777

Fax: 315-738-2232

Please return pages 1-4 of your completed IDR form with documentation of your income if applicable.

Please allow 10-14 days to review and process your request after we receive it. We will send you written notification of approval or denial of your request.

You may also verify status of your request by calling our Automated Voice Response System at

800-835-4611 or logging in to your account at www.cONDUENTeducation.com. Use the document processing status calculator to estimate when your application will be processed.

OMB No. 1845-0102 Form Approved Exp. Date 10/31/2018

INCOME-DRIVEN REPAYMENT (IDR) PLAN REQUEST

For the Revised Pay As You Earn (REPAYE), Pay As You Earn (PAYE), Income-Based Repayment (IBR), and Income-Contingent Repayment (ICR) plans under the William D. Ford Federal Direct Loan (Direct Loan) Program and Federal Family Education Loan (FFEL) Programs

IDR WARNING: Any person who knowingly makes a false statement or misrepresentation on this form or on any accompanying document is subject to penalties that may include fines, imprisonment, or both, under the U.S. Criminal Code and 20 U.S.C. 1097.

SECTION 1: BORROWER INFORMATION

Please enter or correct the following information.

Check this box if any of your information has changed.

SSN

Name

Address

City		State		Zip Code

Telephone - Primary

Telephone - Alternate

Email (Optional)

SECTION 2: REPAYMENT PLAN OR RECERTIFICATION REQUEST

It's faster and easier to complete this form online at StudentLoans.gov. You can learn more at StudentAid.gov/IDR and by reading Sections 9 and 10. It's simple to get repayment estimates at StudentAid.gov/repayment-estimator. If you need help with this form, contact your loan holder or servicer for free assistance. You can find out who your loan holder or servicer is at StudentAid.gov/login. You may have to pay income tax on any loan amount forgiven under an income-driven plan.

1.Select the reason you are submitting this form (Check only one):

I want to enter an income-driven plan - Continue to Item 2.

I am submitting documentation for the annual recertification of my income-driven payment - Skip to Item 5.

I am submitting documentation early to have my income-driven payment recalculated immediately - Skip to Item 5.

I want to change to a different income-driven plan - Continue to Item 2.

2. Choose a plan and then continue to Item 3.

3. Do you have multiple loan holders or servicers?

Yes - Submit a request to each holder or servicer. Continue to Item 4.

No - Continue to item 4.

4.Are you currently in deferment or forbearance? After answering, continue to Item 5.

No.

Yes, but I want to start making payments under my plan immediately.

Yes, and I do not want to start repaying my loans until the deferment or forbearance ends.

(Recommended) I want the income-driven repayment plan with the lowest monthly payment.

REPAYE	IBR
PAYE	ICR

Note: If you have FFEL Program loans, they are only eligible for IBR. However, you can consolidate your loans at StudentLoans.gov to access more beneficial income-driven repayment plans.

SECTION 3: FAMILY SIZE INFORMATION

5. How many children, including unborn		6. How many other people, excluding your
children, are in your family and receive more		spouse and children, live with you and receive
than half of their support from you?		more than half of their support from you?

Note: A definition of "family size" is provided in Section 9. Do not enter a value for you or your spouse. Those values are automatically included in your family size, if appropriate.

Page 1 of 10

Borrower Name		Borrower SSN

SECTION 4A: MARITAL STATUS INFORMATION

7. What is your marital status?

Single - Skip to Item 11. Married - Continue to Item 8.

Married, but separated - You will be treated as single. Skip to Item 11.

Married, but cannot reasonably access my spouse's income information - You will be treated as single. Skip to Item 11.

8. Does your spouse have federal student loans?

Yes - Continue to Item 9.

No - Skip to Item 10.

9.Provide the following information about your spouse and then continue to Item 10:

a.Spouse's SSN

b.Spouse's Name

c.Spouse's Date of Birth

10.When you filed your last federal income tax return, did you file jointly with your spouse?

Yes - Continue to Item 13.

No - Skip to Item 17.

SECTION 4B: INCOME INFORMATION FOR SINGLE BORROWERS AND MARRIED BORROWERS TREATED AS SINGLE

11.Has your income significantly changed since you filed your last federal income tax return?

For example, have you lost your job, experienced a drop in income, or gotten divorced, or did you most recently file a joint return with your spouse, but you have since become separated or lost the ability to access your spouse's income information?

Yes - Continue to Item 12.

No - Provide your most recent federal income tax return or transcript. Skip to Section 6.

I haven't filed a federal income tax return in the last two years - Continue to Item 12.

12. Do you currently have taxable income?

Check "No" if you do not have any income or receive only untaxed income.

Yes - Provide documentation of your income as instructed in Section 5. Skip to that Section.

No - You are not required to provide documentation of your income. Skip to Section 6.

Note: Remember, any person who knowingly makes a false statement or misrepresentation on this form can be subject to penalties including fines, imprisonment, or both.

SECTION 4C: INCOME INFORMATION FOR MARRIED BORROWERS FILING JOINTLY

13.Has your income significantly changed since you filed your last federal income tax return?

For example, have you lost your job or experienced a drop in income?

Yes - Skip to Item 15.

No - Continue to Item 14.

We haven't filed a federal income tax return in the last two years - Skip to Item 15.

14.Has your spouse's income significantly changed since your spouse filed his or her last federal income tax return?

For example, has your spouse lost his or her job or experienced a drop in income?

Yes - Continue to Item 15.

No - Provide your and your spouse's most recent federal income tax return or transcript. Skip to Section 6.

15. Do you currently have taxable income?

Check "No" if you have no taxable income or receive only untaxed income.

Yes - You must provide documentation of your income according to the instructions in Section 5. Continue to Item 16.

No - You are not required to provide documentation of your income. Continue to Item 16.

16.Does your spouse currently have taxable income? Check "No" if your spouse has no taxable income or

receives only untaxed income.

Yes - Skip to Section 5 and provide documentation of your spouse's income as instructed in that section.

No - You are not required to provide documentation of your spouse's income. If you selected "Yes" to Item 15, skip to Section 5 and document your income. If you selected "No" to Item 15, skip to Section 6.

Note: Remember, any person who knowingly makes a false statement or misrepresentation on this form can be subject to penalties including fines, imprisonment, or both.

Page 2 of 10

Borrower Name		Borrower SSN

SECTION 4D: INCOME INFORMATION FOR MARRIED BORROWERS FILING SEPARATELY

17.Has your income significantly changed since you filed your last federal income tax return?

For example, have you lost your job or experienced a drop in income?

Yes - Continue to Item 18.

No - Provide your most recent federal income tax return or transcript. Skip to Item 19.

I haven't filed a federal income tax return in the past two years - Continue to Item 18.

18. Do you currently have taxable income?

Check "No" if you have no taxable income or receive only untaxed income. After answering, continue to Item 19.

Yes - You must provide documentation of your income as instructed in Section 5.

No.

Note: Remember, any person who knowingly makes a false statement or misrepresentation on this form can be subject to penalties including fines, imprisonment, or both.

19.Has your spouse's income significantly changed since your spouse filed his or her last federal income tax return?

For example, has your spouse lost a job or experienced a drop in income?

Yes - Continue to Item 20.

No - Provide your spouse's most recent federal income tax return or transcript. This information will only be used if you are on or placed on the REPAYE Plan. Skip to Section 6.

My spouse hasn't filed a federal income tax return in the past two years - Continue to Item 20.

20. Does your spouse currently have taxable income? Check "No" if your spouse has no taxable income or

receives only untaxed income.

Yes - Skip to Section 5 and provide documentation of your spouse's income as instructed in that section. This information will only be used if you are on or placed on the REPAYE Plan.

No - You are not required to provide documentation of your spouse's income. If you selected "Yes" to Item 18, skip to Section 5 and document your income. If you selected "No" to Item 18, skip to Section 6.

SECTION 5: INSTRUCTIONS FOR DOCUMENTING CURRENT INCOME

You only need to follow these instructions if, based on your answers in Section 4, you and your spouse (if applicable) were instructed to provide documentation of your current income instead of a tax return or tax transcript.

This is the income you must document:

•You must provide documentation of all taxable income you and your spouse (if applicable) currently receive.

•Taxable income includes, for example, income from employment, unemployment income, dividend income, interest income, tips, and alimony.

•Do not provide documentation of untaxed income such as Supplemental Security Income, child support, or federal or state public assistance.

This is how you document your income:

•Documentation will usually include a pay stub or letter from your employer listing your gross pay.

•Write on your documentation how often you receive the income, for example, “twice per month” or “every other week."

•You must provide at least one piece of documentation for each source of taxable income.

•If documentation is not available or you want to explain your income, attach a signed statement explaining each source of income and giving the name and the address of each source of income.

•The date on any supporting documentation you provide must be no older than 90 days from the date you sign this form.

•Copies of documentation are acceptable.

After gathering the appropriate documentation, continue to Section 6.

Page 3 of 10

Borrower Name		Borrower SSN

SECTION 6: BORROWER REQUESTS, UNDERSTANDINGS, AUTHORIZATION, AND CERTIFICATION

If I am requesting an income-driven repayment plan or seeking to change income-driven repayment plans, I request:

•That my loan holder place me on the plan I selected in Section 2 to repay my eligible Direct Loan or FFEL Program loans held by the holder to which I submit this form.

•If I do not qualify for the plan or plans I requested, or did not make a selection in Item 2, that my loan holder place me on the plan with the lowest monthly payment amount.

•If I selected more than one plan, that my loan holder place me on the plan with the lowest monthly payment amount from the plans that I requested.

•If more than one of the plans that I selected provides the same initial payment amount, or if my loan holder is determining which of the income-driven plans I qualify for, that my loan holder use the following order in choosing my plan: REPAYE (if my repayment period is 20 years), PAYE, REPAYE (if my repayment period is 25 years), IBR, and then ICR.

If I am not currently on an income-driven repayment plan, but I did not complete Item 1 or I incorrectly indicated in Item 1 that I was already in an income-driven repayment plan, I request that my loan holder treat my request as if I had indicated in Item 1 that I wanted to enter an income-driven repayment plan.

If I am currently repaying my Direct Loans under the IBR plan and I am requesting a change to a different income-driven plan, I request a one-month reduced-payment forbearance in the amount of my current monthly IBR payment or $5, whichever is greater (unless I request another amount below or I decline the forbearance), to help me move from IBR to the new income-driven plan I requested.

I request a one-month reduced-payment forbearance in the amount of:

(must be at least $5).

I understand that:

•If I do not provide my loan holder with this completed form and any other required documentation, I will not be placed on the plan that I requested or my request for recertification or recalculation will not be processed.

•I may choose a different repayment plan for any loans that are not eligible for income-driven repayment.

•If I requested a reduced-payment forbearance of less than $5 above, my loan holder will grant my forbearance request in the amount of $5.

•If I am requesting a change from the IBR Plan to a different income-driven repayment plan, I may decline the one-month reduced payment forbearance described above by contacting my loan holder. If I decline the forbearance, I will be placed on the Standard Repayment Plan and must make one monthly payment under that plan before I can be placed on a different repayment plan.

•If I am requesting the ICR plan, my initial payment amount will be the amount of interest that accrues each month on my loan until my loan holder receives the income documentation needed to calculate my payment amount. If I cannot afford the initial payment amount, I may request a forbearance by contacting my loan holder.

•If I am married and I request the ICR plan, my spouse and I have the option of repaying our Direct Loans jointly under this plan. My loan servicer can provide me with information about this option.

•If I have FFEL Program loans, my spouse may be required to give my loan holder access to his or her loan information in the National Student Loan Data System (NSLDS). If this applies to me, my loan holder will contact me with instructions.

•My loan holder may grant me a forbearance while processing my application or to cover any period of delinquency that exists when I submit my application.

I authorize the loan holder to which I submit this request (and its agents or contractors) to contact me regarding my request or my loans, including the repayment of my loans, at any number that I provide on this form or any future number that I provide for my cellular telephone or other wireless device using automated dialing equipment or artificial or prerecorded voice or text messages.

I certify that all of the information I have provided on this form and in any accompanying documentation is true, complete, and correct to the best of my knowledge and belief.

Borrower's Signature		Date
		Date
Spouse's Signature

If you are married, your spouse is required to sign this form unless you are separated from your spouse or you're unable to reasonably access your spouse's income information.

Page 4 of 10

SECTION 7: WHERE TO SEND THE COMPLETED FORM

Return the completed form and any documentation to: (If no address is shown, return to your loan holder.)

If you need help completing this form call:

(If no phone number is shown, call your loan holder.)

SECTION 8: INSTRUCTIONS FOR COMPLETING THE FORM

Type or print using dark ink. Enter dates as month-day-year (mm-dd-yyyy). Example: March 14, 2015 = 03-14-2015. Include your name and account number on any documentation that you are required to submit with this form. Return the completed form and any required documentation to the address shown in Section 7.

SECTION 9: DEFINITIONS

COMMON DEFINITIONS FOR ALL PLANS:	The holder of your Direct Loans is the U.S. Department of
Capitalization is the addition of unpaid interest to	Education (the Department). The holder of your FFEL Program
the principal balance of your loan. This will increase the	loans may be a lender, secondary market, guaranty agency, or
principal balance and the total cost of your loan.	the Department. Your loan holder may use a servicer to
A deferment is a period during which you are	handle billing, payment, repayment options, and other
entitled to postpone repayment of your loans. Interest is	communications. References to “your loan holder” on this
not generally charged to you during a deferment on your	form mean either your loan holder or your servicer.
subsidized loans. Interest is always charged to you during	A partial financial hardship is an eligibility requirement
a deferment on your unsubsidized loans.	for the PAYE and IBR plans. You have a partial financial
The William D. Ford Federal Direct Loan (Direct	hardship when the annual amount due on all of your eligible
Loan) Program includes Direct Subsidized Loans, Direct	loans (and, if you are required to provide documentation of
Unsubsidized Loans, Direct PLUS Loans, and Direct	your spouse's income, the annual amount due on your
Consolidation Loans.	spouse's eligible loans) exceeds what you would pay under
Family size always includes you and your children	PAYE or IBR.
(including unborn children who will be born during the	The annual amount due is calculated based on the greater
year for which you certify your family size), if the children	of (1) the total amount owed on eligible loans at the time
will receive more than half their support from you.	those loans initially entered repayment, or (2) the total
For the PAYE, IBR, and ICR Plans, family size always	amount owed on eligible loans at the time you initially
includes your spouse. For the REPAYE plan, family size	request the PAYE or IBR plan. The annual amount due is
includes your spouse unless your spouse's income is	calculated using a standard repayment plan with a 10-year
excluded from the calculation of your payment amount.	repayment period, regardless of loan type. When determining
For all plans, family size also includes other people	whether you have a partial financial hardship for the PAYE
only if they live with you now, receive more than half	plan, the Department will include any FFEL Program loans
their support from you now, and will continue to receive	that you have into account even though those loans are not
this support for the year that you certify your family size.	eligible to be repaid under the PAYE plan, except for: (1) a
Support includes money, gifts, loans, housing, food,	FFEL Program loan that is in default, (2) a Federal PLUS Loan
clothes, car, medical and dental care, and payment of	made to a parent borrower, or (3) a Federal Consolidation
college costs. Your family size may be different from the	Loan that repaid a Federal or Direct PLUS Loan made to a
number of exemptions you claim for tax purposes.	parent borrower.
The Federal Family Education Loan (FFEL) Program	The poverty guideline amount is the figure for your
includes Federal Stafford Loans (both subsidized and	state and family size from the poverty guidelines
unsubsidized), Federal PLUS Loans, Federal	published annually by the U.S. Department of Health and
Consolidation Loans, and Federal Supplemental Loans	Human Services (HHS). If you are not a resident of a state
for Students (SLS).	identified in the poverty guidelines, your poverty
A forbearance is a period during which you are	guideline amount is the amount used for the 48
permitted to postpone making payments temporarily,	contiguous states.
allowed an extension of time for making payments, or	The standard repayment plan has a fixed monthly
temporarily allowed to make smaller payments than	payment amount over a repayment period of up to 10
scheduled.	years for loans other than Direct or Federal Consolidation
	Loans, or up to 30 years for Direct and Federal
	Consolidation Loans.

Page 5 of 10

SECTION 9: DEFINITIONS (CONTINUED)

DEFINITIONS FOR THE REPAYE PLAN:	DEFINITIONS FOR THE ICR PLAN:
The Revised Pay As You Earn (REPAYE) plan is a	The Income-Contingent Repayment (ICR) plan is a
repayment plan with monthly payments that are	repayment plan with monthly payments that are the
generally equal to 10% of your discretionary income,	lesser of (1) what you would pay on a repayment plan
divided by 12.	with a fixed monthly payment over 12 years, adjusted
Discretionary income for the REPAYE plan is the	based on your income or (2) 20% of your discretionary
amount by which your income exceeds 150% of the	income divided by 12.
poverty guideline amount.	Discretionary income for the ICR plan is the amount
Eligible loans for the REPAYE plan are Direct Loan	by which your adjusted gross income exceeds the
Program loans other than: (1) a loan that is in default, (2)	poverty guideline amount for your state of residence and
a Direct PLUS Loan made to a parent borrower, or (3) a	family size.
Direct Consolidation Loan that repaid a Direct or Federal	Eligible loans for the ICR plan are Direct Loan Program
PLUS Loan made to a parent borrower.	loans other than: (1) a loan that is in default, (2) a Direct PLUS
DEFINITIONS FOR THE PAYE PLAN:	Loan made to a parent borrower, or (3) a Direct PLUS
The Pay As You Earn (PAYE) plan is a repayment	Consolidation Loan (based on an application received prior to
plan with monthly payments that are generally equal to	July 1, 2006 that repaid Direct or Federal PLUS Loans made to
10% of your discretionary income, divided by 12.	a parent borrower). However, a Direct Consolidation Loan
Discretionary income for the PAYE plan is the	made based on an application received on or after July 1,
amount by which your income exceeds 150% of the	2006 that repaid a Direct or Federal PLUS Loan made to a
poverty guideline amount.	parent borrower is eligible for the ICR plan.
Eligible loans for the PAYE plan are Direct Loan
Program loans other than: (1) a loan that is in default, (2)
a Direct PLUS Loan made to a parent borrower, or (3) a
Direct Consolidation Loan that repaid a Direct or Federal
PLUS Loan made to a parent borrower.
You are a new borrower for the PAYE plan if: (1) you
have no outstanding balance on a Direct Loan or FFEL
Program loan as of October 1, 2007 or have no
outstanding balance on a Direct Loan or FFEL Program
loan when you obtain a new loan on or after October 1,
2007, and (2) you receive a disbursement of an eligible
loan on or after October 1, 2011, or you receive a Direct
Consolidation Loan based on an application received on
or after October 1, 2011.
DEFINITIONS FOR THE IBR PLAN:
The Income-Based Repayment (IBR) plan is a
repayment plan with monthly payments that are
generally equal to 15% (10% if you are a new borrower)
of your discretionary income, divided by 12.
Discretionary income for the IBR plan is the amount
by which your adjusted gross income exceeds 150% of
the poverty guideline amount.
Eligible loans for the IBR plan are Direct Loan and
FFEL Program loans other than: (1) a loan that is in
default, (2) a Direct or Federal PLUS Loan made to a
parent borrower, or (3) a Direct or Federal Consolidation
Loan that repaid a Direct or Federal PLUS Loan made to a
parent borrower.
You are a new borrower for the IBR plan if (1) you
have no outstanding balance on a Direct Loan or FFEL
Program loan as of July 1, 2014 or (2) have no
outstanding balance on a Direct Loan or FFEL Program
loan when you obtain a new loan on or after July 1, 2014.

Page 6 of 10

SECTION 10: INCOME-DRIVEN PLAN ELIGIBILITY REQUIREMENTS AND GENERAL INFORMATION

Table 1. Income-Driven Plan Eligibility Requirements and General Information


Plan Feature	REPAYE	PAYE	IBR	ICR

Payment	Generally, 10% of discretionary income.	Generally, 10% of discretionary	Never more than 15% of	Lesser of 20% of discretionary
Amount		income.	discretionary income.	income or what you would pay
				under a repayment plan with fixed
				payments over 12 years, adjusted
				based on your income.
Cap on	None. Your payment may exceed what	What you would have paid under	What you would have paid under	None. Your payment may exceed
Payment	you would have paid under the 10-year	the 10-year standard repayment	the 10-year standard repayment	what you would have paid under
Amount	standard repayment plan.	plan when you entered the plan.	plan when you entered the plan.	the 10-year standard repayment
				plan.

Married	Your payment will be based on the	Your payment will be based on the	Your payment will be based on the	Your payment will be based on the
Borrowers	combined income and loan debt of you	combined income and loan debt of	combined income and loan debt	combined income of you and your
	and your spouse regardless of whether	you and your spouse only if you	of you and your spouse only if you	spouse only if you file a joint
	you file a joint or separate Federal	file a joint Federal income tax	file a joint Federal income tax	Federal income tax return, unless
	income tax return, unless you and your	return, unless you and your spouse	return, unless you and your spouse	you and your spouse (1) are
	spouse (1) are separated or (2) you are	(1) are separated or (2) you are	(1) are separated or (2) you are	separated or (2) you are unable to
	unable to reasonably access your	unable to reasonably access your	unable to reasonably access your	reasonably access your spouse's
	spouse's income information.	spouse's income information.	spouse's income information.	income information.

Borrower	On subsidized loans, you do not have to	On subsidized loans, you do not	On subsidized loans, you do not	You are responsible for paying all
Responsibility	pay the difference between your	have to pay the difference	have to pay the difference	of the interest that accrues.
for Interest	monthly payment amount and the	between your monthly payment	between your monthly payment
	interest that accrues for your first 3	amount and the interest that	amount and the interest that
	consecutive years in the plan. On	accrues for your first 3 consecutive	accrues for your first 3 consecutive
	subsidized loans after this period and on	years in the plan.	years of in the plan.
	unsubsidized loans during all periods,
	you only have to pay half the difference
	between your monthly payment amount
	and the interest that accrues.

Forgiveness	If you only have eligible loans that you	Any remaining balance is forgiven	Any remaining balance is forgiven	Any remaining balance is forgiven
Period	received for undergraduate study, any	after 20 years of qualifying	after no more than 25 years of	after 25 years of qualifying
	remaining balance is forgiven after 20	repayment, and may be taxable.	qualifying repayment, and may be	repayment, and may be taxable
	years of qualifying repayment. If you		taxable.
	have any eligible loans that you received
	for graduate or professional study, any
	remaining balance is forgiven after 25
	years of qualifying repayment on all of
	your loans. Forgiveness may be taxable.

		Page 7 of 10

SECTION 10: INCOME-DRIVEN PLAN ELIGIBILITY REQUIREMENTS AND GENERAL INFORMATION

Plan Feature	REPAYE	PAYE	IBR	ICR

Income	None.	You must have a “partial financial	You must have a “partial financial	None.
Eligibility		hardship”.	hardship”.

Borrower	You must be a Direct Loan borrower	You must be a “new borrower”	You must be a Direct Loan or FFEL	You must be a Direct Loan
Eligibility	with eligible loans.	with eligible Direct Loans.	borrower with eligible loans.	borrower with eligible loans.

Recertify	Annually. Failure to submit	Annually. Failure to submit	Annually. Failure to submit	Annually. Failure to submit
Income and	documentation by the deadline will	documentation by the deadline	documentation by the deadline	documentation by the deadline
Family Size	result in capitalization of interest and	may result in the capitalization of	will result in the capitalization of	will result in the recalculation of
	increasing your payment to ensure that	interest and will increase the	interest and increase in payment	your payment amount to be the
	your loan is paid in full over the lesser of	payment amount to the 10-year	amount to the 10-year standard	10-year standard payment amount.
	10 or the remainder of 20 or 25 years.	standard payment amount.	payment amount.

Leaving the	At any time, you may change to any	At any time, you may change to	If you want to leave the plan, you	At any time, you may change to
Plan	other repayment plan for which you are	any other repayment plan for	will be placed on the standard	any other repayment plan for
	eligible.	which you are eligible.	repayment plan. You may not	which you are eligible.
			change plans until you have made
			one payment under that plan or a
			reduced-payment forbearance.
Interest	Interest is capitalized when you are	If you are determined to no longer	If you are determined to no longer	Interest that accrues when your
Capitalization	removed from the plan for failing to	have a “partial financial hardship”	have a “partial financial hardship”,	payment amount is less than
	recertify your income by the deadline or	or if you fail to recertify your	fail to recertify your income by the	accruing interest on your loans is
	when you voluntarily leave the plan.	income by the deadline, interest is	deadline, or leave the plan,	capitalized annually until the
		capitalized until the outstanding	interest is capitalized.	outstanding principal balance on
		principal balance on your loans is		your loans is 10% greater than it
		10% greater than it was when you		was when your loans entered
		entered the plan. It is also		repayment.
		capitalized if you leave the plan.

Re-Entering	Your loan holder will compare the total	You must again show that you	You must again show that you	No restrictions.
the Plan	of what you would have paid under	have a “partial financial hardship”.	have a “partial financial hardship”.
	REPAYE to the total amount you were
	required to pay after you left REPAYE. If
	the difference between the two shows
	that you were required to paid less by
	leaving REPAYE, your new REPAYE
	payment will be increased. The increase
	is equal to the difference your loan
	holder calculated, divided by the
	number of months remaining in the 20-
	or 25-year forgiveness period.

Page 8 of 10

SECTION 11: SAMPLE PAYMENT AMOUNTS

The tables below provide repayment estimates under the traditional and income-driven repayment plans. These figures are estimates based on an interest rate of 6%, the average Direct Loan interest rate for undergraduate and graduate borrowers. The figures also assume a family size of 1, that you live in the continental U.S., and that your income increases 5% each year. Various factors, including your interest rate, your loan debt, your income, if and how quickly your income rises, and when you started borrowing may cause your repayment to differ from the estimates shown in these tables. These figures use the 2016 Poverty Guidelines and Income Percentage Factors.

Table 2. Non-Consolidation, Undergraduate Loan Debt of $30,000 in Direct Unsubsidized Loans and Starting Income of $25,000

Repayment	Initial	Final	Time in	Total	Loan
Plan	Payment	Payment	Repayment	Paid	Forgiveness
Standard	$333	$333	10 years	$33,967	N/A

Graduated	$190	$571	10 years	$42,636	N/A

Extended-	Ineligible	-	-	-	-
Fixed
Extended-	Ineligible	-	-	-	-
Graduated
PAYE	$60	$296	20 years	$38,105	$27,823

REPAYE	$60	$296	20 years	$38,105	$24,253

IBR	$90	$333	21 years, 10	$61,006	$0
IBR	$90	$333	months	$61,006	$0
			months
ICR	$195	$253	19 years, 6	$52,233	$0
ICR	$195	$253	months	$52,233	$0
			months

Table 3. Non-Consolidation, Graduate Loan Debt of $60,000 in Direct Unsubsidized Loans and Starting Income of $40,000

Repayment	Initial	Final	Time in	Total	Loan
Plan	Payment	Payment	Repayment	Paid	Forgiveness
Standard	$666	$666	10 years	$79,935	N/A

Graduated	$381	$1,143	10 years	$85,272	N/A

Extended-	$437	$437	25 years	$130,974	N/A
Fixed	$437	$437	25 years	$130,974	N/A
Fixed
Extended-	$300	$582	25 years	$126,168	N/A
Graduated	$300	$582	25 years	$126,168	N/A
Graduated

PAYE	$185	$612	20 years	$87,705	$41,814

REPAYE	$185	$816	25 years	$131,444	$0

IBR	$277	$666	18 years, 3	$107,905	$0
			months
ICR	$469	$588	13 years, 9	$89,468	$0
ICR	$469	$588	months	$89,468	$0
			months

Page 9 of 10

SECTION 12: IMPORTANT NOTICES

	Privacy Act Notice. The Privacy Act of 1974 (5 U.S.C.	To assist program administrators with tracking
	552a) requires that the following notice be provided to you:	refunds and cancellations, disclosures may be made to
	The authorities for collecting the requested	guaranty agencies, to financial and educational institutions,
		or to federal or state agencies. To provide a standardized
	information from and about you are §421 et seq. and §451
		method for educational institutions to efficiently submit
	et seq. of the Higher Education Act of 1965, as amended (20
		student enrollment statuses, disclosures may be made to
	U.S.C. 1071 et seq. and 20 U.S.C. 1087a et seq.), and the
		guaranty agencies or to financial and educational
	authorities for collecting and using your Social Security
		institutions. To counsel you in repayment efforts, disclosures
	Number (SSN) are §§428B(f) and 484(a)(4) of the HEA (20
		may be made to guaranty agencies, to financial and
	U.S.C. 1078-2(f) and 1091(a)(4)) and 31 U.S.C. 7701(b).
		educational institutions, or to federal, state, or local
	Participating in the Federal Family Education Loan (FFEL)
		agencies.
	Program or the William D. Ford Federal Direct Loan (Direct

	Loan) Program and giving us your SSN are voluntary, but	In the event of litigation, we may send records to the
	you must provide the requested information, including your	Department of Justice, a court, adjudicative body, counsel,
	SSN, to participate.	party, or witness if the disclosure is relevant and necessary
	The principal purposes for collecting the	to the litigation. If this information, either alone or with
		other information, indicates a potential violation of law, we
	information on this form, including your SSN, are to verify
		may send it to the appropriate authority for action. We may
	your identity, to determine your eligibility to receive a loan
		send information to members of Congress if you ask them
	or a benefit on a loan (such as a deferment, forbearance,
		to help you with federal student aid questions. In
	discharge, or forgiveness) under the FFEL and/or Direct
		circumstances involving employment complaints,
	Loan Programs, to permit the servicing of your loans, and, if
		grievances, or disciplinary actions, we may disclose relevant
	it becomes necessary, to locate you and to collect and
		records to adjudicate or investigate the issues. If provided
	report on your loans if your loans become delinquent or
		for by a collective bargaining agreement, we may disclose
	default. We also use your SSN as an account identifier and to
		records to a labor organization recognized under 5 U.S.C.
	permit you to access your account information
		Chapter 71. Disclosures may be made to our contractors for
	electronically.
		the purpose of performing any programmatic function that
	The information in your file may be disclosed, on a
		requires disclosure of records. Before making any such
	case-by-case basis or under a computer matching program,
		disclosure, we will require the contractor to maintain Privacy
	to third parties as authorized under routine uses in the
		Act safeguards. Disclosures may also be made to qualified
	appropriate systems of records notices. The routine uses of
		researchers under Privacy Act safeguards.
	this information include, but are not limited to, its disclosure
		Paperwork Reduction Notice. According to the
	to federal, state, or local agencies, to private parties such as
		Paperwork Reduction Act of 1995, no persons are required
	relatives, present and former employers, business and
		to respond to a collection of information unless it displays a
	personal associates, to consumer reporting agencies, to
		valid OMB control number. The valid OMB control number
	financial and educational institutions, and to guaranty
		for this information collection is 1845-0102. Public reporting
	agencies in order to verify your identity, to determine your
		burden for this collection of information is estimated to
	eligibility to receive a loan or a benefit on a loan, to permit
		average 20 minutes (0.33 hours) per response, including
	the servicing or collection of your loans, to enforce the
		time for reviewing instructions, searching existing data
	terms of the loans, to investigate possible fraud and to verify
		sources, gathering and maintaining the data needed, and
	compliance with federal student financial aid program
		completing and reviewing the information collection.
	regulations, or to locate you if you become delinquent in
		Individuals are obligated to respond to this collection to
	your loan payments or if you default. To provide default rate
		obtain a benefit in accordance with 34 CFR 682.215,
	calculations, disclosures may be made to guaranty agencies,
		685.209, or 685.221.
	to financial and educational institutions, or to state
		If you have comments or concerns regarding the
	agencies. To provide financial aid history information,
		status of your individual submission of this form, please
	disclosures may be made to educational institutions.
		contact your loan holder directly (see Section 7).

Page 10 of 10

How to Edit Acs Income Based Repayment

Our main web developers worked hard to implement the PDF editor we are now pleased to present to you. Our application allows you to easily prepare acs based repayment and can save valuable time. You need to simply follow this particular guideline.

Step 1: The initial step is to hit the orange "Get Form Now" button.

Step 2: You'll notice all of the options which you can undertake on the document once you've entered the acs based repayment editing page.

The PDF form you desire to fill in will include the next areas:

completing income driven repayment request form step 1

Step 3: Click "Done". Now you may upload the PDF document.

Step 4: To avoid potential upcoming difficulties, make certain you possess minimally several duplicates of every single file.

Acs Income Based Repayment – Fill Out and Use

Income Driven Repayment Idr Plan Request Form Details

Form Preview Example

How to Edit Acs Income Based Repayment

Acs Income Based Repayment isn’t the one you’re looking for?

Acs Income Based Repayment – Fill Out and Use

Income Driven Repayment Idr Plan Request Form Details

Form Preview Example

How to Edit Acs Income Based Repayment

Acs Income Based Repayment isn’t the one you’re looking for?

Related Documents

Related Resources