With many traditional fixed-rate or variable rate student loans, a student’s monthly payment does not change based on their income. In other words, the student is expected to make the payment regardless of whether they are unemployed or have failed to secure a good-paying job.
Payments with IBR loans adjust based on the borrower’s income, and allow borrowers to apply for loan forbearance1 if they lose their job or make below $30,000 annually. Payments are recalculated annually based on an income-based percentage of the borrower’s current annual salary.
Create your account to get a quote and check to see if you are eligible.
Once your application is approved and loan documentation is signed, the funds are sent directly to your school.
Keep your head down and your grades up! Focus on your education, not your tuition.
Make monthly payments based on a percentage of your income after you complete your program.
No cosigner required
Get pre-qualified without affecting your credit score. If approved, loan funds are sent directly to your school.
Flexible, income-based repayment
Make no payments while in school, then make flexible income-based payments once you finish school and land a job.
Reward and benefits
Earn rewards for enrolling in AutoPay, making on-time payments, and using free resources like financial literacy and wellness training and budgeting tools.