Income-driven repayment is an umbrella term for three, specific repayment plans that are available in the William D. Ford Federal Direct Loan Program and the Federal Family Education Loan Program. These three repayment plans are called the Income-Based Repayment (IBR) Plan, the Pay As You Earn (PAYE) Plan, and the Income-Contingent Repayment (ICR) Plan. Payment amounts under the IBR Plan are generally 10% or 15% of discretionary income, but will never be more than the 10-year standard repayment amount. Whether a borrower pays 10% or 15% of discretionary income depends on when the borrower first started borrowing student loans.
Under “income-based repayment” or “income-driven repayment”, federal student loan borrowers in the United States pay a percentage of their discretionary income for up to 20 or 25 years, after which the rest of his or her loans are forgiven.
The following groups and organizations are helping to spread the word about Income Based Repayment. Click on any organizations name to go to their website.
Idealist.org connects idealists with opportunities for action and to close the gap between intention and action by connecting people, organizations, ideas and resources.
2. American Association of State Colleges and Universities
AASCU is a Washington-based higher education association of nearly 420 public colleges, universities and systems whose members share a learning- and teaching-centered culture, a historic commitment to underserved student populations and a dedication to research and creativity that advances their regions’ economic progress and cultural development.
3. American Association of University Women
The American Association of University Women (AAUW) is the nation’s leading voice promoting equity and education for women and girls. Since our founding in 1881, AAUW members have examined and taken positions on the fundamental issues of the day — educational, social, economic, and political.
4. American Federation of Teachers
The American Federation of Teachers, an affiliate of the AFL-CIO, was founded in 1916 and today represents 1.6 million members in more than 3,000 local affiliates nationwide.
5. American Medical Students Association
The American Medical Student Association (AMSA), with a half-century history of medical student activism, is the oldest and largest independent association of physicians-in-training in the United States.
College Parents of America is the nation’s only membership organization comprised of current and future college parents. Since its inception in 1997, their mission has always been to assist families in the successful preparation for, transition into adjustment to and completion of college.
The mission of Equal Justice Works is to create a just society by mobilizing the next generation of lawyers committed to equal justice providing the nation’s leading public interest law fellowship program and offer more postgraduate, full-time legal positions in public service than any other organization.
8. Howard Centre for Family, Religion and Society
Howard Centre for Family, Religion and Society is there to defend the family and to guide public policy and cultural norms, this Declaration asserts principles that respect and uphold the vital roles that the family plays in society.
9. Mexican American legal Defense Fund
MALDEF is the nation’s leading Latino civil rights organization. MALDEF promotes social change through advocacy, communications, community education and litigation in the areas of education.
10. National Association for College Admission Counseling (NACAC)
The National Association for College Admission Counseling (NACAC), founded in 1937, is an organization of more than 14,000 professionals from around the world dedicated to serving students as they make choices about pursuing postsecondary education.
NACAC is committed to maintaining high standards that foster ethical and social responsibility among those involved in the transition process, as outlined in the NACAC Statement of Principles of Good Practice (SPGP).
11. National Association of Graduate Professional Students (NAGPS)
The National Association of Graduate-Professional Students (NAGPS) is a student-run national, non-profit organization dedicated to improving the quality of life of graduate & professional students across the United States. Founded by student leaders in 1987, NAGPS is the only national organization that represents the interests of graduate & professional students in public and private universities
12. National Association of Social Workers (NASW)
The National Association of Social Workers (NASW) is the largest membership organization of professional social workers in the world, with 132,000 members. NASW works to enhance the professional growth and development of its members, to create and maintain professional standards, and to advance sound social policies.
13. National Association of Student Financial Aid Administrators (NASFAA)
The National Association of Student Financial Aid Administrators (NASFAA) provides professional development for financial aid administrators; advocates for public policies that increase student access and success.
14. National Consumer Law Center (NCLC)
Since 1969, the nonprofit National Consumer Law Center® (NCLC®) has used its expertise in consumer law and energy policy to work for consumer justice and economic security for low-income and other disadvantaged people, including older adults, in the U.S.
15. National Education Association (NEA)
The National Education Association (NEA), the nation’s largest professional employee organization, is committed to advancing the cause of public education. NEA’s 3 million members work at every level of education- from pre-school to university graduate programs.
The Project on Student Debt is an initiative of the Institute for College Access & Success, a nonprofit independent research and policy organization dedicated to making college more available and affordable to people of all backgrounds.
Student Debt Relief is here to raise awareness on the various federal student loan forgiveness programs that are available to borrowers to maintain a knowledge base to help students from before their college career begins, to after they have graduated.
18. Wagner Graduate School of Public Service, New York University
NYU Wagner educates and prepares the world’s future public service leaders. Students arrive at NYU Wagner with the desire to serve the public. They leave with the skills and experience to bring about change. The NYU Wagner school of public service encourages its students to avail this opportunity of eradicating debt.
19. U.S. Public Interest Research Groups (PIRG)
U.S. PIRG is a consumer group that stands up to powerful interests whenever they threaten our health and safety, our financial security, or our right to fully participate in our democratic society.
20. United States Students Association
The United States Student Association is the country’s oldest and largest student-led organization.
21. Young Non-Profit Professionals Network
The Young Nonprofit Professionals Network (YNPN) is a movement activating emerging leaders to advance a diverse and powerful social sector.
