The Income-Contingent Repayment (ICR) Plan is one of the federal student loan repayment options that may be available to eligible borrowers who meet applicable program requirements established by the U.S. Department of Education.

Potentially eligible loan types may include certain federal student loans, such as:

• Direct Subsidized Loans
• Direct Unsubsidized Loans
• Direct PLUS Loans
• Direct Consolidation Loans

Eligibility requirements, payment calculations, and repayment terms may vary depending on individual circumstances, loan details, and current federal program guidelines.

Under the ICR Plan, monthly payments may be calculated based on a percentage of discretionary income or other applicable calculation methods established by federal regulations. Borrowers may be required to provide updated income and family size information as required by the program. Payment amounts may be recalculated if financial circumstances or program requirements change.

For married borrowers, spouse income may be considered depending on applicable rules, tax filing status, and other federal repayment plan requirements.

Depending on eligibility, qualifying payments, and completion of the required repayment period, borrowers may be eligible for forgiveness of any remaining loan balance under applicable federal guidelines. Forgiveness requirements and decisions are determined by the U.S. Department of Education and the borrower's loan servicer.

Some borrowers exploring Public Service Loan Forgiveness (PSLF) may consider income-driven repayment options as part of their repayment strategy if they meet all applicable requirements.

Borrowers should understand that repayment plans may result in different total repayment amounts over time. In some situations, borrowers may pay more compared to other repayment options, including the 10-year Standard Repayment Plan. Tax treatment of any forgiven loan balance may vary depending on applicable federal and state tax laws.

Parent borrowers with Parent PLUS Loans may have certain options, such as consolidating eligible loans into a Direct Consolidation Loan, subject to federal requirements and eligibility rules.

For specific information regarding your loans, repayment options, and eligibility, borrowers should consult their loan servicer or official federal student loan resources.

Important Notice:

Student Education Relief Processing Services provides document processing support and general information regarding student loan documentation. We do not determine eligibility, approve repayment plans, guarantee loan forgiveness, calculate official payment amounts, or make decisions on behalf of the U.S. Department of Education, loan servicers, or government agencies.