Know Your Repayment Options: What IDR Plans Can You Use?
The “Grey Zone”
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*FFEL program ended |
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- Do you have loans received BEFORE July 1, 2010?
- You might have non-Direct loans
- You can still consolidate to utilize REPAYE and maybe PAYE…
- Do you have loans received BEFORE October 1, 2007?
- You will likely not qualify for PAYE
- You can use REPAYE if they are Direct Loans
- IF you received federal loans between 2007 and 2010
- You can end up paying loans using IBR & PAYE or IBR & REPAYE
- Direct Consolidation loans may help
- Only federal Direct loans qualify for ICR, PAYE and REPAYE
- Only FFEL and Direct loans qualify for IBR